Purchased as a three-unit building for $2.6 million three months ago and quickly remodeled as a “lavish” single-family home with gold fixtures, marble countertops and a La Cornue range in the kitchen; an outdoor living room complete with a television mounted over the new gas fireplace out back; and an “opulent” master bath with a clawfoot tub and curbless marble shower on the top floor; the Pacific Heights Victorian at 2111 Broderick Street returned to the market three weeks ago listed for $4,499,000.
This morning, the sale of the 4,250 square foot pad closed escrow with a reported contract price of $4,850,000, roughly 10 percent over asking, $1,141 per square foot, and $2.3 million more than was paid for the property in August.
And once again, while the remodeling of the kitchen(s) and bathrooms were permitted, there isn’t any approved unit merger for the property on record.
I think we need a related tag for “La Cornue” 😉
Pretty good flip for a short hold. Good example of not shoeboxing a place and getting a great value / end product. Some really smart flipping here and good design decision. Pretty amazing for such a short holding period and considering the fact that the home was listed for $3m last year, sat for 4 months, selling for 2.6 a year later. And selling for 2x that amoun in under 3 months. Previous seller must be shaking their head.
je te aime.
There is neighboring house on Broderick, on the east side, south downhill from Jackson. It was just sold and someone is improving it. It has an intact Victorian main floor. Let us hope they do not white-shoebox it. It will be a direct comp.
I want to eat some foie gras on the center island. And then instagram it. And wait for police officers to show up
@ my house.
Closed for $4,850,000…
[Editor’s Note: Good catch. We’ll call it a fat finger error and since corrected above.]
Live Smart: Je t’aime.
🙂
Or, to be more precise: Je l’aime
@Live Smart: You can do that all you want. As long as you don’t sell it you’re good.
I eat and deal. Which is no deal in SF. I’ll put in a call to Vanessa Getty, she is two degrees of separation. Same with her ex of ex.
Unlike a lot of flips, there are a lot of quality materials here: Calacatta marble, mosaics that run >100 sq ft, etc and a few areas where they could quibble that that they should have done a little more but probably were short of time due to leadtimes (cabinetry in particular). I do wonder, though, if the structural issues (e.g., foundation strapping) were a big concern like were cited by others in the prior thread.