Oceanview’s 89 Belle Avenue doesn’t exactly have the makings of a hot commodity.
It’s a three-unit building dating back to 1947. It’s not attractive from the outside. And it’s in such an obscure corner of the city that older maps of San Francisco don’t even show its locale.
Also, it’s uninhabitable. The brief, three-sentence listing says as much. Nevertheless, the building asks $1.4 million, which is indeed the median price for a habitable single family home in San Francisco.
A fire broke out here in 2013, destroying more than half of the structure with the remaining portions sustaining significant damage.
Nevertheless the ad stresses the property’s “upside potential,” hence the steep asking price.
But that’s the kind of city San Francisco is today. This summer saw the case of a similarly distressed Dolores Heights home asking $7 million, whose price has since dropped to a still-staggering $6.5 million.