Last spring, the story of a very run-down, four-bedroom house along the Great Highway that we dubbed a "total disaster" became something of a symbol for the state of San Francisco's housing market. The home appeared to be almost ripped apart, with drawers and appliances pulled out of the kitchen and a boarded-over hole across one door. The home sold for $1.21 million, which was $411,000 over asking, and we thought there was a good chance flippers were behind the sale. Now, San Francisco Magazine has followed up on the home and learned that its buyers are actually a family who plan to rehabilitate the house.
The San Francisco Magazine story details the history of the cottage, starting from the time it was sold as an empty lot in 1906 for $500. Back then, it was buried beneath sand dunes and a pile of old streetcars. The home itself was built as a weekend cottage in 1907 and has changed hands a seemingly endless number of times since. By 2012, a group calling themselves the Great Highway Squatters had moved in with their dogs. The house was owned by a trust, and when they heard about the squatters they had sheriff's deputies remove them and put the place on the market for $799,000.
That's when its modern story begins. Listing agent Nana Meyer told San Francisco about fleas in the backyard and a hot tub filled with junk. But the house was structurally sound, and it was a hit on the market. Meyer showed the house to more than 100 people and received 13 offers. The lowest came from flippers, while the highest was from an East Coast family that had been looking for a place along the Great Highway for almost a year. The family won out, and they have now submitted renovation plans to the city. We can't wait to see how the place turns out.
· Total Disaster Lists for $799K, Sells for $1.21M in Outer Sunset [Curbed SF]
· · $1.2 Million. 13 Offers. $400K Over Asking. For This. [San Francisco Magazine]