1648 Pacific Avenue

Built in 1917 and landmarked in 1988, the Russian Hill firehouse at 1648 Pacific Avenue was sold in a city auction for $1.8 million in 2007.

The buyers, Gavin Jefferies and Teresa Nittolo, spent the next six years upgrading, expanding and converting the space – which had been home to San Francisco Engine Company No. 8 and Truck Company No. 4. before being shuttered in 1980 – into an event and retail space known as Firehouse 8.

Inside 1648 Pacific Avenue

And now Firehouse 8, which includes roughly 9,000 square feet of refinished space and the original fire pole, has just returned to the market with a $7.35 million price tag.

Comments from Plugged-In Readers

  1. Posted by Notcom

    I was going to write a rant about runaway prices, but it turns out to be (only) a 17% return, and of course that neglects all the renovation costs …which obviously reduces the ROI to …maybe single digits.

    But enough maths: Mssrs Jeffries and Nittolo are to be applauded for a tasteful and creative reuse; admittedly Landmark laws probably restricted what they could do – and fortunately so, b/c many of these post-Fire firehouses have been demolished for reasons ranging from urban renewal to seismic concerns to just plain obsolescence – but whatever the reasons, a fine job. Hopefully they’ll find a buyer eager to continue their work, not one to start challenging regulations so they can screw it up.

  2. Posted by Jake

    San Francisco RE is so inflated you don’t even have to be on a hill to be on a hill, any gulch will do.

  3. Posted by Stop Driving

    Think of the parties!

  4. Posted by AnonAnon

    So no parking, or is the front right space the garage?

    • Posted by Notcom

      No. it’s a metered space in front (and the double doors are too narrow for a car anyway).

  5. Posted by SFRealist

    That view out the back window? Wow!

  6. Posted by Orland

    Isn’t Pacific St. more Nobbish than Russian Hill?

  7. Posted by eddy

    Don’t see you get to a $7m+ price for this place. Doesn’t matter what the fine folks paid, invested or their theoretical ROI. I’ve been paying more attention to commercial these days but still not well versed in the economics. Maybe I’m missing something.

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