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Everyone Went Totally Bonkers Over this Cute House Near Dolores Park

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This adorable 3-bed, 1-bath house on 20th Street went on sale just before that gloriously hot weekend a few weeks ago. Cars were double-parked up and down the street for two days straight during the open house, with well-heeled families and drunken Dolores Park kids wandering in and out and inquiring about when and how they could make an offer. We checked it out and it won our hearts -- cool architectural details, a lush backyard with a lemon tree, and lots of room for improvement while still being move-in ready. We even got an email from a reader asking us why it was priced so low, at $849,000, and we discussed the likelihood that with so much interest it would go quickly and well above asking. Well, dear readers, it went pending by the next weekend and it looks like our internal predictions about it going fast and for over-asking somehow even exceeded our own expectations: Grab your smelling salts: the sale closed today at $1,400,000, or 65% over asking.
At $989 per square foot, its near the average for the neighborhood, where houses are generally going a bit over the listing price. What do you think caused all the commotion? Chime in with your comments. Perhaps the listing price was set artificially low, but what's commanding a price like this for a home in need of renovation? The location near south bay shuttles, perhaps? The new and improved Dolores Park playground? Congratulations to the buyer and seller, and welcome to the neighborhood.
· 3928 20th Street [Redfin]