Having hit the market two months ago listed for $11 million, the list price for the Presidio Heights property at 3636 Clay Street has just been reduced by $1.2 million, now asking $9.9 million for the 8,000 square-foot home and newest member of our growing million dollar price cut club.

Built in 1899 and having only traded hands a couple of times, the current tax assessed value for 3636 Clay is $294,125.  As such, the property tax bill for the home totaled $3,744 last year versus closer to $116,000 a year if it sells at asking, down from $130,000 a year yesterday.

And once again, while the listing doesn’t include a single parking spot, it does include a permit to add a garage.

Comments from Plugged-In Readers

  1. Posted by MarinaBoy

    Add the garage and re-list they will get their price.

    • Posted by Banana

      yes… 6 months and $500,000 later.

  2. Posted by Castro Resident

    Prop 13 is ridiculous.

  3. Posted by MarinaBoy

    Prop 13 just like rent control has its pros and cons, this city either keeps both or eliminates both.

    • Posted by shza

      The cons far outweigh any “pros.” Once again, California is the *only* state in the country with this backward rule, and grandmas everywhere else are doing just fine.

  4. Posted by Jackson

    The City does not get a say as to keeping or eliminating Proposition 13 since it is California State law.

  5. Posted by Conifer

    Unfortunately someone painted the dark wood, but it is still a great real-SF entry hall. Hope they keep it.

    • Posted by Serge

      Agreed. Just out of curiosity, how hard is it to strip the paint on all the trim? I assume it would require a lot of masking, paint stripper, sanding, and then refinishing. The cornice pieces are of course going to be harder. I have seen paint stripped fairly easily with a heat gun.

  6. Posted by SocketSite

    UPDATE: The listing for 3636 Clay Street has been withdrawn from the MLS without a reported sale.

  7. Posted by Denis

    Sold for 9 even

  8. Posted by soccermom

    Good buy.

Comments are closed.

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