The 600-square-foot cottage on a sliver of a Noe Valley lot at 543 30th Street was purchased for $665,000 ten years ago with what would appear to have been $5,000 down and $660,000 in debt. And in 2006, the property was refinanced with $791,920 in new loans.
In default since 2009, at which point the first mortgage for $704,000 was already $32,161 past due, the cottage is scheduled to hit the courthouse steps this afternoon with what would appear to be over $300,000 in past due payments and fees having accrued over the past four years.
The 1,167 square foot parcel is zoned for development up to 40 feet in height, the same height as the sliver of a parcel at 135 Yukon Street.
Comments from Plugged-In Readers
Sale Status: Cancelled on 06/17/2014
[Editor’s Note: While the auction was cancelled, the loan appears to remain in default.]
Sale Status: Sale Date 07/17/2014
not worth it imo
Opening Bid Amt: $849,000.00
Sold Amt: $849,000.00
UPDATE: Foreclosed upon in July with no bidders at $849,000 in cash on the courthouse steps (see comment above), the 600-square-foot cottage at 543 30th Street has returned to the market as bank-owned and listed for $879,900.
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