When a formerly ramshackle Broderick Street church showed up on the market in October reimagined as a four-bedroom single-family home, we declared it our favorite flip of the year. Commenters were a bit more skeptical, especially of the $5.875 million price in a neighborhood that is "not Pacific Heights or Noe Valley." As the commenters predicted, the home did not bring in its asking price, selling for $4.995 million late last week. That's $880K below asking but $3.594 million above its sale price in 2012, when it was still a run-down church.
When developers Highland Ferndale Partners bought the church in 2012, they ignored the option to turn it into four units and instead decided to go the single-family route. Inside, the house is open plan, with 6,585 square feet, including a playroom and a workout room. Up top there's a roof deck, and the backyard has been designed as a small entertaining area. The mansion was originally built back in 1886, and the flippers removed an addition that hid the bottom of the facade, restoring the entrance to its full Victorian glory. For once, thank God for flippers!
· Holy Flip! Ramshackle Church Is Born Again As Victorian Manse [Curbed SF]
· 601 Broderick [Redfin]