Purchased for $1.170 million in early 2021, having been taken “down to the studs” and modernized, “with no details left unfinished,” back in 2019, the four-bedroom Bayview home at 1119 Hollister returned to the market listed for “$1.199 million” this past September.

Having failed to garner an acceptable “over asking!” offer, the list price for 1119 Hollister was increased to $1.290 million after a month on the market and the listing was updated to tout “Transparent Pricing” as a feature versus flaw.

Withdrawn from the MLS without a transparent sale having transpired, the 1,774-square-foot home has just been listed anew for…$1.199 million, a sale at which would opaquely be “at asking” according to all industry stats and aggregate reports.  If you think you know Bayview and the market for single-family starter homes in San Francisco, now’s another chance to tell.

19 thoughts on “A Modernized Bayview Home Returns, Take Two”
  1. Ah, the house with the La Cornue in the kitchen and the Pax closets from IKEA in the bedroom. I wonder if they had gotten an ‘unacceptable’ bid when they put it on the market for the first time.

  2. When it doesn’t sell at $1.2M or $1.3M, even I know that it’s time to bring it down to $998K or maybe $1.098M. Also, re-listing in early January isn’t great. Wait until the spring buying season, list at $998K and perhaps you’ll get the bidding war you want.

  3. The asking price in 1969??
    I’ll let y’all choose:
    (a) 15,350
    (b) 25,750
    (c) 30,950
    (d) 55,600

    And to correct augment the info at the top of the page: the original listing in ’19 was $1.399M

    1. I guess (b).

      Most of what I want to know about these remodels is omitted from virtually all of the listings. When they went down to the studs, what did they do after? Does the property have a 200A electric service, solar panels, insulation, a heat pump, thick-walled water piping, did I mention insulation yet? I believe the answer for this has is “LOL, no” for all of these points, but it leaves me wondering why flippers don’t try to appeal to buyers who want a modernized house. They could probably sell a good house at a fair price, instead of trying to dip a 1900-built house in black paint and sell that.

      Also, of course, my standing question about why this wasn’t scraped flat and replaced with a quad.

      1. I don’t think they took it down to the studs – at least not fully. The tip-off is that you don’t see any fire sprinklers in the ceiling. In single family remodels if you remove more than 50% of the drywall you must install fire sprinklers.

        1. > In single family remodels if you remove more than 50% of the drywall you must install fire sprinklers.

          Do you have a source for that? I thought SF required sprinklers primarily when a fourth story is created.

      2. Sorry: no
        (a) 15,350
        (b) 25,750
        (c) 30,950
        (d) 55,600
        but thanks for playing. Now please step to the side… we have a fine collection of customized gifts to choose from.

        1. Damn. I just went backwards from the 2018 assessed value, less 40 years of Prop 13 adjustments, minus a guess factor to get from 1978 to 1969.

  4. It doesn’t seem like 2021 was an auspicious time to start a flip project, with covid delays and supply chain challenges.

    1. The flip occurred in 2018. Purchased for $950K in Feb 2018 and re-sold for 1.15M in Aug 2019, and appears has more or less been flat in value ever since.

      1. So only a 21 percent increase following a “down to the studs” and modernization remodel? I guess I’ll never be brave enough to make it as a flipper, as that $200,000 difference seems to me to be pretty slim after you subtract the transaction costs. Unless it really wasn’t taken “down to the studs.”

  5. Ugly finishes, the La Cornue is lipstick on a pig. Two or three years ago this might have been snatched up. Today I’m not sure anyone looking for this place is looking for it in the Bayview. Maybe at six digits instead of seven.

    Does anybody really want a kitchen with no upper cabinets and transparent doors?

  6. Over improved for that particular block. BVHP is still very much blue collar workers with kids. Staging conveys the opposite.

    1. You can be sure that the flipper and even the stager knew all about that. It isn’t over improved once you understand the play.

      The idea is to get some buyer (probably remote or foreign) to pay luxury home prices for a house in this blue collar neighborhood, and then start a run up of living costs in the area when other flippers pile in and buy property here to make the same play when they smell money being made. Eventually, property costs will be so high that existing residents get displaced, and the price level throughout the neighborhood rises to a new equilibrium that is unaffordable to the blue collar workers with kids.

      1. Sure, you can point your finger far and wide – Orange County to Vancouver BC. The Bayview though? Not really striking as a landing pad for foreign capital any time soon.

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