In late April, a massive Noe Valley flip targeting "grown-up hipsters" in a rather fanciful burst of brokerbabble caught our eye. The house's Victorian exterior had been shined up and paired with a supermodern interior that drew ire from some of our readers (one commenter called it a "bad day at the West Elm catalog showroom"). Buyers, however, felt differently. The house went into contract just a week and a half after hitting the market and sold for a whopping $7 million, tying the record for largest sale in Noe Valley originally set by 625 Duncan Street. The big price was $1.2 million over asking and $5.425 million more than flippers paid for the property in its unrenovated state back in 2012.
The home's big transformation was led by John Lum Architecture and SF Modern. They created interiors filled with custom millwork and fancy fixtures for the home's more than 4,556 square feet of space. There are five bedrooms, seven bathrooms (including a one-bed, one-and-a-half-bath guest suite) and two kitchens, which for some reason seems standard these days in big fancy houses. There's also a huge back deck and, of course, lots of big glass doors. What we really want to know, however, is whether or not a grown-up hipster really did shell out the big bucks for this house. "Where do hipsters move when they grow up?" asked the brokerbabble, rhetorically. "Noe Valley. This small enclave … is proof positive you don't have to leave the city when you transition from Stoli to stroller."
· Huge Noe Valley Flip Asks $5.8M, Targets Grown-Up Hipsters [Curbed SF]
· Once Noe's Priciest Home, 625 Duncan Takes a $1M Price Cut [Curbed SF]
· 553 Elizabeth Street [Official Site]
· 553 Elizabeth Street [Redfin]