Purchased for $950,000 in February of last year, the 1,700-square-foot, four-bedroom Bayview Heights home at 1119 Hollister Avenue was subsequently taken “down to the studs” and subfloors.

A structural wall was removed to open up the floor plan, a third bathroom was added, the electrical was upgraded (along with the furnace) and the all-new kitchen now sports a La Cornue range.

And having returned to the market this past February with a $1.399 million price tag, the sale of the fully remodeled home has just closed escrow with a contract price of $1.15 million, a price which will help push the average sale up, and is “21.1 percent more expensive,” just not on an apples-to-apples, or likely profitable, basis.

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Comments from “Plugged-In” Readers

  1. Posted by the shade gal

    socketsite- nice to see the hit list diversify outside of SoMa in your recent articles 🙂
    how about also showcasing houses that sell for ridiculously over asking (yes, even accounting apples to apples comparison?) Or is that the norm so it’s not interesting to report?

    • Posted by SocketSite

      Heck, as we just highlighted last week, this place just fetched $351,000 over asking!

      But on a less snarky note, we’re all eyes and ears when it comes to actual apples-to-apples sales, regardless of how they trade.

      • Posted by markets_arent_a_panacea

        i prefer apples to apples that decrease but here is one increase.

        • Posted by Spencer

          wow, that crazy expensive for a central richmond condo! i do think the inner richmond is generally still increasing in value (it was late to party, but maybe last to leave?), but i didnt expect this in central/outer richmond

  2. Posted by Jeffrey W. Baker

    What’s with the paint job on the roof fascia?

    • Posted by Metroliner

      I think those are some weird shadows caused by a not completely flat metal fascia.

    • Posted by BernalDweller

      It’s warped, there is a slight overhang on the upper trim, and that’s a shadow.

  3. Posted by Cynna Mac

    I actually love it but did they make money?

    • Posted by Metroliner

      I love it, too, but they could not have made much if any money on this. $200,000 seems like not a lot to fully gut, remodel, hold, stage, sell and make anything.

      That being said, this was the steal of the year for the buyer!

    • Posted by Curious

      $1,150,000-$950,000=$200,000 Given that a La Cornue alone is like $10k from Williams Sonoma, I’ll go out on a limb and say no.

      • Posted by Bernalkid

        Have to say the stove looks a little ridiculous now that white box cabinets seem back in style.

  4. Posted by john downey

    When you factor in Permit fee’s, designers fee’s and closing costs, and 18 months of property tax, I wonder how much money was made or lost on this.

  5. Posted by AlamedaRenter

    The gas range is hideous.

    • Posted by Brian M

      Sacre bleu! Just think what CLASSIQUES of French Cuisine will be enabled within its glorious Gallic Bleu Homage to the Victorian Steampunk Era.

      It looks risible in the context of that Ikea kitchen, I must agree!

  6. Posted by Conifer

    Why are flippers taking out old oak hardwood and putting in these wide planks? What is wrong with the old stuff? It can be stained any way you want.

    • Posted by Jeffrey W. Baker

      I don’t see any oak in the “before” shots. It’s a mishmash of tile.

      • Posted by The Milkshake of Despair

        There’s a good chance that oak lies beneath much of that floor as Conifer implies. This place was built right about the time that hardwood went out of style and when carpeting was coming in.

        I once refinished the floors of a house this vintage. There wasn’t a plank of red oak showing, even the closets were carpeted. We tore out all the carpet to find that the hardwood was nicely preserved with no visible wear. The original owners probably carpeted over the oak within a decade. Once the project was done, all but the kitchen and bathrooms wore a nice clean red oak. No additional trees were cut down and the job was much faster than demo+rebuild. And it is hard to find such fine grained boards these days.

  7. Posted by Scott F

    Hopefully this outcome makes would-be flippers think twice about gentrifying Bayview with more of these projects.

    Though the city can share the blame for encouraging this behavior by zoning RH-1. It still astounds me that there’s been no effort at a deal to allow rebuilding denser in return for higher affordability requirements.

  8. Posted by Walnut Creek Reader

    Bad design for the kitchen. It needs an island. No room for food prep.

    • Posted by curmudgeon

      first thing I noticed too.

      • Posted by emanon

        Nor is there room for storage. It might look pretty but it will never function for actual food prep. Ridiculous to spend that much on high-end appliances then omit sufficient storage space for cookware, food, dishes, glass ware, utensils….

        • Posted by tipster

          That first photo is stretched beyond belief. Look at the third photo to see how teeny tiny that kitchen really is. It looks like they were trying to keep a space for a kitchen table and also trying to prevent the kitchen from feeling cramped like the original, so they gave up on an island.

          I would have added the island, with a bar on the other side, and gave up on the eat in part altogether. They didn’t even add cabinets above the sink. It looks like it was designed for a yuppie family who orders takeout, but I’d bet few takeout places will deliver to that hood. That kitchen is just completely inappropriate for a 4/3 and I’m sure whoever moved in will redo it.

  9. Posted by socketome

    A couple of things:

    1.The guardrail for the stairs does not appear to meet code. Must be less than 4″ between the verticals.
    2. If it’s a true down to the studs remodel (50% or more of the existing drywall removed) I believe you must fully fire sprinkler the house. I don’t see any sprinkler heads in the photographs.

  10. Posted by Kevin

    Ouch. I’m sure flipper def lost money on this one. The aesthetic on this flip is interesting. It’s the “in” aesthetic at the moment but the problem is doing it right requires a lot of money. This flip looks like it’s almost there but not quite… thus looks off; parts of it looks oddly tacky while other parts is on point. Whomever bought it got a good deal. Just few minor adjustments and this place will look great.

  11. Posted by pegster

    Shower head over bath, but no shower curtain – not even a rail?

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