As we wrote last year:

Purchased for $440,000 in 1995, the Castro District duplex at 517-519 Sanchez Street has been raided numerous times over the past seven years, resulting in the seizure of large quantities of crystal meth, heroin, ketamine, cocaine and cash.

Two years ago the City of San Francisco sued the building’s owner for violating California’s Drug Abatement Act, charging ongoing habitability and safety issues – such as a defective exterior staircase and a lack of stairway handrails; missing smoke detectors and improper electrical wiring; unpermitted construction work; and a lack of heat – for which the defendant faced civil penalties of up to $1,500 a day as long as the violations were allowed to persist.

The lower level unit’s door, which had been “made of an old cabinet door,” has since been replaced and numerous other violations related to “building safety, heat, rodents and criminal activity” have since been addressed (albeit with complaints as to potential work without a permit).

And three months ago the “Wonderful Victorian home in amazing Dolores Heights location” at 519 Sanchez Street hit the market listed for $2.6 million, the sale of which is now in contract to close escrow.

Having failed to close escrow, the duplex caught fire this past February.

And today, the fire damaged property is back on the market with a “$995,000” list price, suggesting that one brings their “contractor and imagination,” and touting a “[w]onderful opportunity to restore this amazing Dolores Heights Victorian!” Considering the history of this location and property, you might want to complete a 10 drugs test that you’re able to keep at hand, proving you don’t misuse substances.

Comments from Plugged-In Readers

  1. Posted by NOPA

    I bet those tenants were a just dream. #tenantsrights

  2. Posted by Metroliner

    Seems to me to be a screaming deal if it goes for that price.

  3. Posted by Panhandle Pro

    A professional flipper will snag this for sure. I predict that it sells for 1.7M and they put in ~1M. At 3,000 square feet, with those views and brand new everything, it will easily get $1,300 per square foot. it sells for 3.3M, netting the developer 600K pretax.

    • Posted by Panhandle Pro

      Math isn’t quite right there but you see what I’m getting at 😛

  4. Posted by Ben

    Hopefully wasn’t used for a meth lab. What does cleanup on that type of stuff run?

    • Posted by The Milkshake of Despair

      The cost depends on the magnitude of spills found. Mitigation could range from nothing (no spills) to removal and replacement of contaminated building materials.

    • Posted by Dr. Pants

      It’s also 1905~ build date so there needs to be asbestos and lead paint removal.

  5. Posted by PD

    sells for 1.25m another m for renovation, get 2.25m for each unit (mission pricing) – doubled your money pretax

    • Posted by sparky-b

      $1m for 2938 square feet of remodel, not counting garage, abatement, etc. = not close

  6. Posted by SFLandlord

    I guess none of that drug money was reinvested into the property.

Comments are closed.

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