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Queen Anne Torn Apart By Flippers Slashes $605K from Price

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The poor Queen Anne at 1533 Sutter Street has had a very rough few years. As you may recall, she was sold to flippers for a touch over $2.5 million in May 2013. However, instead of rejuvenating all of the details from the home's storied past (it was built in 1889!), they set about ripping out the parquetry, pulling out the mantlepieces, and trashing the wood carvings of the entryway. Only a few touches of stained glass were left among all the new, blank whiteness. It turns out that buyers haven't been impressed with the Queen Anne's new look. The asking price when the home came back on the market last October was $6.595 million, but that has now fallen to $5.99 million, meaning that the flippers are looking for about $3.47 million more than what they paid.
The reworked house does have six bedrooms, including an in-law apartment, seven bathrooms, and parking for three cars. It clocks in at 7,375 square feet, a significant amount of space. There is a two-person glass enclosed shower in the master suite, plus fancy light fixtures from Italian designer Artemide, and living space on the top floor that is much improved over what was there before. However, none of those additions seems to have made up for the loss of this Queen Anne's soul.

A few more before photos:

· Flippers Dethrone Lower Pac Heights Queen Anne for $4M Gain [Curbed SF]
· Swanky Multi-Unit Victorian Hits the Market [Curbed SF]
· 1533 Sutter Street [Vanguard]