In the world of San Francisco real estate, selling for a reported $605,000 over asking isn't that newsworthy, and all-cash offers can seem more common than not. But what makes the $5.6 million sale of the house at 819 Francisco (its asking price was $4.995 million) worthy of reporting is a combination of condition and location. When it first hit the market roughly three weeks ago, we wrote that the house was so dated, listing agent Joseph Gartland Moore didn't have the interiors photographed. At the time, he told us: "The interiors are insignificant. The value of this property is in the incredible site and it's potential." We wondered if just under $5 million was a bit steep for fixer. Moore didn't think so, and it turns out he was right.
This morning, we were tipped off by reliable sources about the sale price. They report that there were multiple offers, but the winning bid was all cash and came from a person who plans to live in the house, rather than a developer.
That person is likely planning a big remodel. As we reported back in October, the house has a typical 1970s-era interior and, at 2,040 square feet, it is surely the smallest house on the block. Aerial shots show it as dwarfed by its larger, grander neighbors.
· A Fixer on One of SF's Most Desirable Blocks Asks For $4.995M [Curbed SF]
· 819 Francisco St. [Redfin]