Once upon a time, 1533 Sutter Street had some of the best period detailing in all of San Francisco, with parquet wood floors, an entryway filled with wood carvings, and some wonderfully crazy patterned wainscoting. However, when flippers got their hands on it, all of the original woodwork and and floors were torn out and replaced by lots and lots of white. Commenters were horrified by the new $6.595 million version of the home. It turns out that buyers weren't super-impressed either. After sitting on the market for a year, the Queen Anne finally sold for $5.53 million, more than $1 million less than its original ask.
Despite the big price chop, the new selling price still added $3 million to the home's last purchase price of $2.521 million. The buyers get a three-car garage, a landscaped patio out back, and a one-bedroom in-law for their money. A few stained glass windows remain intact, and the ghost of the wainscoting is still hanging around beneath a coat of white paint in the entryway. The buyers also managed to get the place for just $725 per square foot, a fairly low number for a fancy flip in Lower Pacific Heights.
A few more before photos:
· Queen Anne Torn Apart by Flippers Slashes $605K From Price [Curbed SF]
· Swanky Multi-unit Victorian Hits the Market [Curbed SF]
· 1533 Sutter Street [Vanguard]