Come Again? Sea Cliff Fixer-Upper Sells for $11M, a Bonkers $4.7M Over Asking

When the oceanfront fixer-upper at 178 Sea Cliff Avenue hit the market last month asking $6.298 million, we marveled at the big price for a house that needs some major renovations to be revived. However, it turns out that the big price wasn't nearly big enough, because the five-bedroom, two-bathroom home just sold for an absolutely jaw-dropping $11 million. The $4.702 million over asking must be some kind of record for the city. Listing agent Beverly Barnett says that there were seven offers on the property. The buyer paid cash.

The home is currently only 3,585 square feet, which is sizable but not huge and puts the price per square at an unbelievable $3,068. So what drew buyers to an unstated home with an ancient kitchen, horrendous wood-paneled walls and a grimy balcony? The beachfront location in Sea Cliff with a backyard that sits practically on the ocean is truly special. "Only approximately 15 homes in San Francisco have a beachfront location in such an exclusive neighborhood," explains Barnett. "Of those 15 homes, maybe half of them have the amazing outdoor space that 178 Sea Cliff offers."

The new owners will have fantastic views of the Golden Gate Bridge, the Marin Headlands, and the cliffs of the Presidio. However, some major renovations will have to happen first. The house was shown unstaged (minus a single, lonely grand piano), giving potential buyers a clear look at its bones and allowing them to create their own vision for the home's future. It was originally built back in 1914, and some details like a sweeping wooden staircase and a big fireplace remain. A new kitchen and bathrooms will definitely need to go in. Once the renovations are finished, we can only imagine how amazing the housewarming party in that phenomenal backyard will be.

· 178 Sea Cliff Avenue [Beverly Barnett]
· 178 Sea Cliff Avenue [Redfin]
· Oceanfront Fixer-Upper in Sea Cliff Asks a Huge $6.298M Price [Curbed SF]