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3800 Washington Quietly Cuts Price to $12.5M, Spins Off Guesthouse As Separate $3.5M Property

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Once upon a time, the grand but dilapidated mansion at 3800 Washington had high, high hopes of bringing in $25 million for its owner, embattled technology entrepreneur Halsey Minor. However, that was nearly three years ago, back in May 2012, and those hopes have long been dashed. The estate, which is a "modified copy" of the Petit Trianon chateau at Versailles, has undergone a series of price chops over the years and was most recently listed at $17.995 million. But even at that price, it failed to find a buyer. The property has now appeared in a new format, with the option to buy pieces of the estate separately. The new lower price for the main residence is just $12.5 million, while the ask is $3.5 million for the guesthouse next door.

In a somewhat confusing setup, the two pieces of the property must be purchased at the same time, even if by two separate buyers. The 18,000-square-foot main residence sits on a nearly 20,000-square-foot lot that includes a vacant lot at 125 Maple Street. The guesthouse, located at 3810 Washington, has four bedrooms, three and a half baths, and 2,618 square feet of space. The new listing says that it was built in 1981 and could "use a little updating," but also touts the smaller property as a "great opportunity for a budget-minded buyer." The listing adds that the agents are "assembling the buyers who will need to be confirmed and closed simultaneously." The new opportunity has not shown up on the MLS, where the estate is still publicly listed as one entity for its previous price of $17.995 million.

Interested buyers will likely need to do plenty of work to restore the mansion, which is listed on the National Register of Historic Places and is also San Francisco Landmark 95. The property is in disrepair, with holes in the ceiling and water damage. Neighbors have even filed abandoned building complaints in the past. Here's hoping that someone will jump at this new chance to bring the mansion back to life.

· The City's Second Most Expensive House Has French-Inspired Roots [Curbed SF]
· Presidio Heights Mansion Slashes Price Again to $17.995M [Curbed SF]
· 3800 Washington [Top Agent Network]
· 3800-3810 Washington Street [Redfin]
· 3800 Washington [Official Site]
· All Previous Coverage of 3800 Washington [Curbed SF]

3800 Washington

3800 Washington Street, San Francisco, CA