Well, the list price on 1374 Fulton has been reduced twice again (now $1,599,000 or $296,000 (15.6%) off the original list). And as a couple of readers note, it’s probably not the paint job that’s making this one a tough sell. Especially this week. (Somebody cue the Snow Miser…)
∙ Don’t Blame Us If The Theme Song Gets Stuck In Your Head [SocketSite]
∙ Listing: 1374 Fulton Street (6/2) – $1,599,000 [BJ Droubi]
It actually does have heat, it just needs to be updated. I wish I had the $$$ for this place. It has a ton of potential and a $2500 a month legal unit down with the kind of tenants that are short term.
The earlier post’s comments about the white paint “mask” are spot on. I’ve watched the cosmetic reno. of this house over the last several months. Looked a lot more like the place next to it in the realtor photo when it started out. I didn’t get the impression there was a lot of structural renovation–just “let’s paint it up nice and get it sold so we can make a huge profit on this falling-down house”.
Of course, it’s a pretty huge place so for the size the price probably isn’t too bad.
D_INC writes:
> It has a ton of potential and a $2500
> a month legal unit down with the kind
> of tenants that are short term.
This is still in a crappy neighborhood and they are asking what homes north of California Street sold for in 2000. There is no way anyone will pay $2,500 for a little rental under this place in this area…
There already is, and it’s not crappy it’s a 3 bedroom. Have you even been to the property you are trashing?
it is a crappy neighborhood. Read the stats. Over the last 30 days, there were 33 crimes committed within a 1/4 mile radius of that address. No thanks. I would not pay $1.6M for a crime ridden neighborhood.
The neighborhood is definitely more “up and coming” than established, but it’s a far far cry from “crappy”. Great little restaurants and bars are opening up on Divisadero; it’s walking distance to Golden Gate park and the Haight; and it’s relatively easy access to the freeways (thanks to the Octavia street on/off ramp).
As far as the house, it’s huge but in need of a significant amount of investment. If it was renovated/remodeled (or a fixer in Pac Heights) I could see $1.6M.