233 Franconia Plan

Purchased for $1.525 million in 2013, plans to expand the Bernal Heights view-home on an oversized lot at 233 Franconia Street by over 60 percent have since been approved and permitted and the home has been gutted.

Listed for $1.895 million this past October and reduced to $1.795 million after two weeks on the market, the sale of 233 Franconia has just closed escrow for $1.595 million.

At the same time, the Pacific Heights building at 2620 Buchanan Street which was purchased for $4.095 million in December of last year and relisted for $6.5 million in September, with plans to transform the legal 3-unit building into a contemporary home “designed to be used as a single family residence,” has been withdrawn from the market without a reported sale despite a reduction to $4.995 million in November.

2620 Buchanan Plan

And the Cole Valley Victorian at 164 Belvedere Street, which was purchased for $1.995 million last year when listed touting period details and “Lots of history!” has since been gutted, the lot excavated to expand the home and a new foundation has been poured.

164 Belvedere Street

Listed as an unfinished project and “opportunity” to make it your own for $3.5 million in October, the sale of 164 Belvedere is now pending with a yet to be disclosed contract price.

Comments from Plugged-In Readers

  1. Posted by Tesla

    What Lender would allow a Deed of Trust to be placed on a partially remodeled property? Mechanics Liens are a high probability. I have seen Lenders cancel loans because buyers started remodeling before the Close of Escrow.

  2. Posted by ess

    seriously what’s up with the stone cladding on the right there

  3. Posted by SocketSite

    UPDATE: 2620 Buchanan has just been relisted for $4.995 million.

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