It’s a “total fixer” or “tear-down” which makes pricing a bit tricky as “potential” value is not only in the eyes, but also the hands of the beholder.
That being said, over in Noe Valley 1409 Sanchez was briefly in contract this past January when listed for $1,100,000. After falling out of contract, however, the list price for the property was subsequently reduced to $995,000 in February, to $940,000 in March, to $849,500 two weeks ago, and to $799,500 yesterday.
As a plugged-in reader notes, the property last changed hands on 12/30/05 for $868,000. But we don’t know whether or not it would have been considered a “total fixer” or “tear-down” at the time. Or if anybody has attempted to pursue either path since.
UPDATE: From a plugged-in reader: “I really like this area of Sanchez and Duncan and remember when it was sold in late 2005. The owner had died and the place was a total mess. No garage, a small lot, and a complete tear down.” And with that we have an apple.
∙ Listing: 1409 Sanchez (2/1) – $799,500 [MLS]