Housing out of whack: $400,000 for 'uninhabitable' SF house

Newsjock

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Mon Dec-20-10 04:33 PM
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Housing out of whack: $400,000 for 'uninhabitable' SF house

http://sf.curbed.com/archives/2010/12/20/400k_for_two_uninhabitable_bedrooms_and_a_garden.php

We're not exactly sure what the listing agent on this one is trying to pull here. On the one hand, he's pretty upfront about the fact that you probably won't be able to live in the place, saying the "structure appears to be uninhabitable and may or not be salvageable." On the other hand, he must have a lot of faith in the allure of a Glen Park zipcode given the $400k price tag on this pile of rotting wood and kudzu. At that price, this 2-bed 1-bath, 768 square foot home comes to $521 per square foot - slightly higher than the median price for actual, habitable structures in Sunnyside and down $100k from the original list price.

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tabatha

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Mon Dec-20-10 04:36 PM
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1. more....

We imagine the inside isn't even worth looking at since said listing agent declined to take any photos of it. "Garden" is listed as a feature, but from the looks of things on Google streetview the green space at 537 Congo is (appropriately enough) a freakin' jungle. Oh and there's a garage as well, but it's detached from the house. Kind of like how the rest of this thing is entirely detached from reality.

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JuniperLea

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Mon Dec-20-10 04:38 PM
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2. In California...

You can spend a hell of a lot for an empty lot. The structures are fairly meaningless... these days more than ever.

This is actually a damn fine deal in San Francisco! I kid you not.

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RUMMYisFROSTED

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Mon Dec-20-10 04:39 PM
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3. Probably a deal.

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DJ13

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Mon Dec-20-10 04:42 PM
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4. The old cliche, 'location, location, location' still holds true I guess

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alcibiades_mystery

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Mon Dec-20-10 04:43 PM
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5. The question is, would you pay $800,000 for a new home on that lot?

:shrug:

It's a tear down. So what?

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tkmorris

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Mon Dec-20-10 04:44 PM
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6. Strangely, if the lot is worth 450K that's reasonable

I'm not sure what the demo would cost out there but that lot is being sold as if it were empty, minus the cost of removing the useless house that sits there.

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Hell Hath No Fury

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Mon Dec-20-10 04:46 PM
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7. $400k for a good lot in Glen Park --

Edited on Mon Dec-20-10 04:47 PM by Hell Hath No Fury

on Congo is a pretty good deal. The house is obviously a tear-down. It is not uncommon here, to buy a lot and tear down an older, smaller house (even ones in great shape) and build a single larger house or, if the lot allows it, two houses. We lost a great old farmhouse up the block to just such development. :(

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stray cat

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Mon Dec-20-10 06:37 PM
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8. Sounds like a good deal in that region

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