Wells Fargo foreclosed upon the two-bedroom Noe Valley home at 1164 Church Street with $1,081,123 then owed, including penalties, on a 2008 era mortgage for $910,000 with no bidders on the courthouse steps in August of 2011.

And having accepted $7,500 to voluntarily leave the property prior to eviction and not sue Wells Fargo, the former owner vacated in April of 2012 and Wells sold the property for $1,200,000 that May, a purchase which was financed with a loan for $840,000.

Having since been completely remodeled with new systems and expanded by over 1,200 square feet, and with $675,000 in additional debt, the now four-bedroom Noe Valley home is back on the market and listed for $2,550,000.


The main floor has been reconfigured and opened up into a great room.


And the nearly all new lower level now sports two new bedrooms, two and one-half new baths, and a door to a refinished two car garage.


∙ Listing: 1164 Church Street (4/5) 2,956 sqft – $2,550,000
A Foreclosed Upon Noe Home Sells For Over…What Wells Was Owed [SocketSite]
Will Wells Profit From This Noe Valley Foreclosure? [SocketSite]

24 thoughts on “Foreclosure, Flip, And Remodel: The Circle Of Life For 1164 Church”
  1. I work next to this house and the location is hideous. Not to mention that thugs from the Mission typically love to stroll this stretch of Church and its side streets and destroy property. If it were one of the homes a block north, the scenery would be much more appealing.

  2. Are those square light fixtures plastic lens enclosed fluorescents? Like in the 1970s?

  3. @SF Doc
    I’m surprised you think it is both a bad location and that it has “thug strolling.” I assumed anything west of Dolores was fairly safe and crime free. Can you elucidate?

  4. @SF Doc–same comment as Phill…and at least reported crimes don’t support the Church Street Thug Life Thesis. Check out the SFPD link below and zoom in on Noe over last 6 mos if you’re curious:
    Strangely, while the crime rate definitely goes up as you get closer to the neighborhood ground zero (BART station at 24th/Mission), it seems higher on Chattanooga than on either Church or Dolores. Perhaps because Church and Dolores are pretty well trafficked, but Chattanooga is pretty sleepy and slow, so easier to get away with crime at night on that street? Church Street seems about on par with most other streets in Noe (close to zero crime rate)…and thankfully far better than any stretch of Mission Street just a few blocks away.

  5. I think SF Doc is joking or is interested in bidding on this home. Being on Church is not ideal but not exactly gangland territory. Kinda crazy if this sells for asking. Noe is really a market unto itself.

  6. Jeez, guess what?
    Beige sells.
    Noe sells.
    Can lights sell.
    Every time a reckless borrower replaced with a new money buyer, the neighborhood gets improved. $7,500 to leave a house you have defaulted on and no longer own? F me.
    I have no dog in this fight, but give mad props to whoever is printing money on this flip. One year hold? Good work.

  7. That lower level is seriously compromised in terms of headroom and natural light. What are the ceilings? 8′? 8-1/2′? Did the developer just do this on the cheap or was there no way to dig out the basement and bring in more light?
    I’d be shocked if people are willing to pay more than $2M for what is essentially a 2 bedroom home with a finished basement.

  8. I think “compromised” is being kind. Main floor remodel is ok, not great, but the lower level is a remuddle.

  9. If you can’t understand from the pictures why this will sell, you don’t follow this market at all.
    Want 11′ ceilings in your basement? Go pay 8 or 9 large to Rick Teed and Butch Haze. If this is really almost 3000sf, my bet is it goes quickly and quietly around list.
    Noe = Park Slope.

  10. Saw it this evening at the open house. Definitely some interesting design choices here: laundry room in the kitchen, master bedroom fronting Church St, odd layout downstairs…
    Still, this will definitely sell. Noe loves new, and that this is.

  11. I agree with soccermom – this will sell fast and close to list.
    While the ceilings downstairs may only be 8ft, they look to be legal height (over 7’6 for living space, 7′ for bathrooms and closets). The $200,000 cost of digging down (or lifting up) and redoing the foundation (not to mention the extra time this would add for permits, by forcing the developers to post notice and wait for possible complaints from neighbors) wouldn’t be any where near worth the extra 6 inches they would get in the ceiling height.
    Looks like they did a decent renovation while sticking with the space they had, and are going to make a great profit. Bravo!

  12. Happy to elucidate- in the past year, there have been numerous window smashings, incidents of tagging, hardcore drug dealing, etc. in this area. I work a block up. There is an alley that runs perpendicular to this property that is particularly troublesome. Also, I have no stake in this. I love the home I own and would never bid on this property.

  13. “hardcore drug dealing” in Noe Valley? I think maybe sf doc’s definition of hardcore is different than mine. Or maybe soccermom has some ‘splainin’ to do.

  14. Wonder how the buyers will feel about the big consruction to take place around the corner on 24th. Several units and they are seeking a variance to go deep into the rear yard which should have some impace on this very pricy property for Church Street. If the yards don’t abut, they are very close. Plus do the J Steet cars still have a screech?

  15. It looks like a classic bad speculative flip. The layout and finishes are questionable. You know when finishes look dated upon installation. That kitchen and wet bar backsplash, even though it’s marble, look like they should be in a Muni bathroom circa the 1970’s. There is no fireplace mantle. They limited the pricy tile in the bathroom to save money. The electrician placed the washer and dryer plugs visibly way too high. It’s full of cost saving measures and mistakes.
    I would hate to live next the J Church, not to mention the horror of backing out of that garage on a daily basis. The price per square foot is $862.65 which is on the very high end of the market in Noe Valley. Overpriced is an understatement.

  16. I don’t think the high 800s per square foot is very high end for Noe anymore. More like low 1000s.

  17. Hardly. In the last 90 days the majority of all homes sold in Noe with square feet noted were over $862.65 (according to Redfin).

  18. This is an excellent remodel for a flip; it looks really nice without being out there in any way. The idea that there is meaningful crime on this street is just silly. I don’t understand the comment about backing out of that garage — it is not a steep grade and Church St. is wide and not that busy. The J Church rumbles a bit but mainly squeaks around corners. Basically there are lots of little things that could be better about this place, but no real show stoppers. It will sell.

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