: views from the Hill

Thursday, July 20, 2006

This is a major fixer ...

Ah, San Francisco's real estate market. Ain't it grand?

Listing description: "This is a major fixer (contractor's special) suitable for contractors only. Property to be sold in it's present AS IS condition. Property needs lots of work from brick foundation to roof. 2 vacant units and one being occupied by tenants (Please do not disturb tenants)."

2134 Steiner (at California). Built 1900. Three units. Two parking spaces. ~2880/sq ft.

Asking: $1,490,000
Price/SqFt: $517.36

And look down there at the bottom of the listing!

Contingent! Someone's made an offer!


We saw a house on Marina Boulevard last Sunday. Probate sale. Needs loads of work.

Listing description says, "Location, Location, and Views! Sensational opportunity to restore this Marina Blvd. gem, originally built for the Gump Family."

What the listing doesn't say is that there is obvious dry rot and leaks as well as damage from 1989 that was never repaired. A front balcony had signs warning not to open the door to it.

We walked through. Loads of work to be done to fix damage caused by neglect over the years. If the house were in good condition, it would be a gem. Nice spaces, antique front door, other classy features.

The views, such as they were, weren't spectacular. Fairly nice view of the Marina Green and the yacht harbor. No sweeping Golden Gate views or anything like that. The partial view of the bridge could only be seen from the front living room window.

After we got back outside, we were walking to the crosswalk so we could get back over to the Marina Green when I saw something odd.

I walked down the east side of the building to check it out. Yup, there's a real nice bulge or two in the east facing wall that look like souvenirs of the 1989 quake.

Looks rather serious.

I'm sure whoever owned the building decided after 1989 that if the place wasn't red-tagged, it was safe enough for them and rather than go through extensive rehab work, they'd let the heirs and assigns worry about what to do with the place later.

Well, now it's later.

I don't know how much the neighbors would squawk if you wanted to take down a building built 76 years ago for the Gump family to build something new on the lot, but they'd probably squawk a lot. This is San Francisco, after all.

Buyer may be in for lots of fun repairing bulgy, cracked walls in situ.

Fixer-upper for $2,450,000!


And last but not least this one:

599 Vallejo & two other contiguous lots -- just a block or two from The House on Grant, one of our favorite nosh places.

"Development opportunity with soon to be approved plans. Three lots 559 Vallejo St.(APN: 0145 036),567-569 Vallejo St.(APN: 0145 035), & 66 Fresno St.(APN: 0145 027),total lot size 4,616 per tax records.Plans for five residential units plus parking, & separate enclosed parking lot included with sale. Top floor unit:2200+ sq.ft. 3BR/3BA,1400 sq.ft. terraces,Lower 4 units: two 2,100+ sq.ft. 3BR/3BA, & two 1,900+ sq.ft. 2BR/2.5BA. Permits have been thru Planning, Building, & Telegraph Hill Dwellers."

$5,900,000 for three lots with a combined total lot size of .10167 acre.

BUT! There are plans that are "soon to be approved" and those plans have already been vetted by Planning, Building, AND Telegraph Hill Dwellers.

Shoot, that approval from THD is probably worth at least an easy million in value add-on.

Just make sure you don't decide you want to change the plans.

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