Back in October, we were wowed when a onetime Chinese laundry tucked into a gated alley in the Tenderloin landed on the market asking $1.695 million. Over the years, 3 Meacham Place has been a laundry, a branding and design firm, and a residence. It is now primarily designed to be a single-family home, although the listing advertised the property as a live/work space and it is zoned for both commercial and residential uses—which explains the very non-period green exit sign lurking among the antiquish finishes in the sitting room. We thought that potential buyers would be deterred by the lack of parking both at the home and along its gated street, but 3 Meacham went into contract just two weeks after hitting the market. The two-bed, two-bath home sold this week for $1.63 million, which was $65K less than asking but still a big price for the Tenderloin.
The place is huge, with 3,520 square feet, meaning that it sold for just $463 per square. That figure is probably representative of its location in the Tenderloin, although it does sit behind an ornate gate that residents of Meacham Place fought to have built 10 years ago when homeless encampments and drug use were spilling into the quiet street.
The interiors of 3 Meacham are divine, with a huge carved wood fireplace serving as the focal point. The fireplace sits in an oak-paneled living room complete with stained glass, tiled floors, and a glass door. On the lower level, a conference room includes a projector screen and a stereo system, but could also be used as a media room. Other features of the space include a reading nook upstairs, a roof deck overlooking the city, and a master bedroom with skylights that take up the entire length of the ceiling.
The bedroom has a floor bed that is retractable, so the room can be converted into a dance floor. Housewarming party, anyone?
· Totally Bonkers Home in Old Tenderloin Laundry Asks $1.695M [Curbed SF]
· 3 Meacham Place [Official Site]