Burned-Out Former Drug Den with Views Fetches Two Million BucksJune 29, 2018
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!”
And the sale of 517-519 Sanchez Street, which currently measures around 3,000 square feet, has now closed escrow with a $2.0 million contract price. We’ll keep you posted.
Comments from Plugged-In Readers
Fantastic. Get rid of a prior drug den, now eyesore and rebuild it to a new dwelling for new productive members of society. That feels good for the soul.
Nice price. Time for the city to settle with the owner and for this place to get renovated so everyone can move on.
I wonder if there needs to be a toxic clean-up of the property. Ketamine and other chemicals used to make meth are extremely toxic.
Buyer better do his/her due diligence.
Even residue from opioids can be hazardous. Not that the same substance(s) were mentioned here, but who knows (?) and who’d want to trust their life to a $12/hr clean-up crew ??
As of tomorrow, minimum wage in SF will be $15/hr.
I think this was a distribution site, not manufacturing.
It will get a gut-reno with glass bannisters and white marble counters. the rent controlled unit will get moved to the basement, and it will be sold for 4.5 M dollars in 2 years.
pretty accurate. But it will be sold at TIC’s. Upper unit may go up a floor as there is already tremendous fire damage and neighboring building is taller. I predict a killer master suite with awesome view deck. $3m plus for upper unit and pushing $2m for lower unit. Glass bannisters and white marble as well. Plus wide plank European oak whitewashed floors.
Do you mean bleached or actually whitewashed? Would seem pointless to put in hardwood and then paint over it.
On another note, I’m surprised no one is bemoaning the loss of PDR space (the “repairing” probably got done @ SF General, et al, but there was certainly production and distribution going on) 🙂
I want in on this action.
Back in 18-24 months with expanded ground floor and pentroom addition. Listed as a single-family home “with in-law” for $6-7M. Trendy, but subpar, finishes.
2.5 years, LEED certified, SFH with inlaw. $8.5M.
8.5m is a big number. I laughed at the LEED.
Glass bannisters are still a thing? I was hoping that ended in 2017. About as useful as a sunken living room floor, a la the 50s-70s.
On paper this is a good buy. The problem with the place is that the former owner is totally out of it, psychotic, violent, and probably still regards it as his own.
As an architect, I can tell you that clients say they care about LEED, but when they get the price tag of compliance, they immediately lose interest. LEED is a money loser, plus, LEED is a private company that really isn’t all that environment friendly.
UPDATE: Burned-Out Former Drug Den Redeveloped, Fetches $4.8 Million
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