When the two-bedroom shingled Bernal Heights fixer-upper at 99 Ellsworth Street hit the market just two and a half weeks ago, it clearly had the potential to be a quick, big sale. The asking price was only $850,000, a low mark for a home with lots of potential that sits less than a block from Bernal Hill. Despite its fixer status, the house went into contract just 12 days after going up for sale and made it official last week with a final price of $1.425 million, or $575,000 over asking.
That makes the price per square $1,140, a level that puts Bernal fixers in a league with designer condos. (And this is for a home that probably needs an entirely new foundation, Vanguard broker Kevin Ho, who saw the property, tells us.) "It's a very rich price to pay for something that needs so much work," says Ho. "But we've seen this before in Bernal where folks really just want the place."
We hope that whoever plunked down $1.425 million in cash (flippers?) will keep some of its original charm. The house was originally built back in 1912, and although its Arts & Crafts interiors have grown a bit shabby, there is still a lot to love. The very vintage, bright kitchen is probably on its way out, as is the rainbow tiled flooring in one bedroom. However, we hope that the woodwork, built-in shelving, and exterior all remain instead of being torn out or painted white.
· Quirky Arts & Crafts Fixer Next to Bernal Hill Asks Just $850K [Curbed SF]
· New Condo Prices Up a Touch Despite Big Inventory Jump.
· Kevin and Jonathan [Official Site]
· 99 Ellsworth Street [Redfin]