June 13, 2008
Live Like A Rockstar (Just Don't Spend Like One)
Third Eye Blind front man Stephen Jenkins’ successfully sold his Pacific Heights mini-manse in 2005. And if our plugged-in tipster is correct, perhaps Third Eye Blind’s ex-bassist should have followed suit as his “European Style Nob Hill Penthouse” is now on the market and in “Preforeclosure” (rumor has it a bankruptcy might be involved).
And while the views are spectacular, it takes four flights of stairs to reach them, parking is leased one block away, and let’s just say the conspicuous lack of interior photography wasn’t simply an oversight (and perhaps the result of really living like a rockstar).
First Published: June 13, 2008 1:15 PM
Comments from "Plugged In" Readers
A million US Pesos for "in need of some serious TLC?" WTF? It appears that the Third Eye Bland ex-bassist isn't the only one with a crack problem.
Posted by: Tweety at June 13, 2008 2:24 PM
I periodically see Mr. Jenkins around town and I can't help wondering if he has some "issues."
Anyway, it looks like Nob Hill condos are getting killed right now. However, the Comstock is still selling really well. It's a great alternative to 999 Green (which is terribly dated). Still, the area is aging and I'd wager that younger people who can afford 1+ million condos are fleeing to the new SOMA buildings or smaller flats in Cow Hollow/Marina area.
Posted by: Sleepiguy at June 13, 2008 2:26 PM
trashed or not, I'm still not sure why they didn't put any interior pics on line. even if it's really bad why not put up some pics? it's more time-effective for everybody.
if it's really bad then it weeds out all the people who want only mild renovations when they see the pics... and it means only serious lookers will hassle the realtor.
Posted by: ex SF-er at June 13, 2008 2:30 PM
@Sleepiguy, nob hill has always been for the bluebloods. Young, hip, and urban do not describe its denizens. To suggest that young people are "fleeing" to SOMA (not likely) or Cow Hollow/Marina (likely) is to imply that they lived in Nob Hill in the first place. Sure, young people live down the hill on Hyde, Larkin, & Polk -- but they don't live on top.
Posted by: scurvy at June 13, 2008 2:32 PM
^ that's true..I should have phrased that more carefully.
I've been in a ton of Nob Hill buildings and homes and met most of the geriatric Nob Hill set... Some of the places are borderline nursing homes...You couldn't pay me to live in the area. It's just not on anyone's radar anymore. I wonder what the future holds for Nob Hill once the current denizens start to die off?
Posted by: Sleepiguy at June 13, 2008 2:41 PM
800/ft for a pit and no parking. WTF? There will be no takers at this price point. Reductions are coming...
BTW, I hate these 2 realtors.
Posted by: Craig at June 13, 2008 2:56 PM
I've checked out this place -- the interior wasn't as bad as I was expecting (as an earlier poster said, at least *some* pics would have been helpful) so I was expecting something really, REALLY bad. It wasn't quite so, but very close and it definitely needs of a LOT of work, I'm guessing at least $100k minimum. (And that still doesn't get you parking or dealing with the ridiculous climb of stairs, which a sane contractor would likely charge extra for dealing with -- it's that bad/steep)
Some of the rooms look like scenes from a crackhouse -- except it's real and not special effects or lighting. How anyone could actually live there surprises me.
Other challenges: $1000 HOA -- there are only eight units and part of the reason it's so high is that it includes mandatory earthquake insurance; supposedly the owners are trying to get everyone together to have removed/reduced. Leased parking is block away and $300+, two spaces tandem but won't fit anything taller than your typical compact car. (ie - SUV's need not apply)
While the view is INSANELY awesome -- probably the best I've ever seen in a property as you can see several beautiful SF landmarks -- I think the property fits a very specific personality/profile; that is, someone who can afford to spend a ton of money to fix a place so that they can live in complete privacy, and who doesn't like to venture out often.
Posted by: CL at June 13, 2008 4:10 PM
"Other challenges: $1000 HOA -- there are only eight units and part of the reason it's so high is that it includes mandatory earthquake insurance; supposedly the owners are trying to get everyone together to have removed/reduced."
Yeah, why would anybody want earthquake insurance in SF anyway. Go ahead owners, get together and remove it. Just shows you what a joke SF RE really is.
Posted by: anon at June 13, 2008 5:16 PM
My view (which is also a city view) is much better than that! (And, of course, it includes the Transamerica Building.)
And I rent!
Posted by: Anonymous at June 13, 2008 5:34 PM
The view in the picture above is a view from Telegraph Hill, not Nob Hill.
Posted by: Anonymous at June 13, 2008 9:09 PM
I suppose one could argue that it may be Russian Hill, but Telegraph Hill it certainly is not. I'm sure many others will soon put you in check...
Posted by: Dot Dash at June 13, 2008 9:41 PM
The view in the picture above is a view from Nob Hill, not Telegraph Hill. I stand corrected.
Posted by: Anonymous at June 14, 2008 7:49 AM
is the argument whether or not this address is Nob/Telegraph/Russian Hill, or if this pic is taken from Nob/Telegraph/Russian Hill?
The picture seems like it's been taken looking East on Washington Avenue. (you can see right down the street with the TA tower to your right and downtown "behind" it). Thus it seems to me the pic is from the Address listed above.
Clearly that's not a Telegraph Hill picture... the Views of the Transamerica tower are 90 degrees from what we see in this picture. (you can see the "wings" or whatever people call those things from Telegraph hill, but not this picture)
So Telegraph hill is out.
now if you're arguing that this address is Russian vs Nob hill that's a different matter.
I'd have a hard time calling this place Russian Hill. I personally think of Russian Hill being north of Pacific... but who knows. I'd call it the northwest slope of Nob myself.
Posted by: ex SF-er at June 14, 2008 8:57 AM
I grew up around the corner from Steve Jenkins and never thought he had any "issues". Very smart guy, as is his brother.
Posted by: MysteryRealtor at June 14, 2008 11:23 AM
The condo isn't owned by Steve Jenkins; it's owned by Arion Salazar. See Wikipedia for more info.
I've seen the condo. The view above is from the deck outside the dining room. The views from the place really are spectacular, as is the 360 degree light. It does need a lot of work, but IMO isn't like a "crack house" at all. Personally, the long climb up and lack of parking are real concerns, as is the $300k the HOA is supposedly collecting from residents next year for "painting and improvements". That seems like an insane amount, especially considering the $600 HOA fee (calculated by subtracting the value of the earthquake insurance).
We are looking at it as a possible investment property, but I'm sure unclear on whether it would rent for $5-6k after being renovated. Seems like the parking and stair climb would be too much of a deterrent to renters. . .
Posted by: has_seen_it at June 15, 2008 12:01 PM
A million bucks? A million bucks? Well, a million bucks less one dollar. Really! I hate to tell you this, but the Hyde Street cable car line runs down Washington Street, and you don't know how what sounds like 18 hours a day until you've lived directly on that line, as I have, and you never really get that grinding noise out of your head. Ever.
And since when does a buyer pay $999,000 for a property that "needs a lot of work," as you say?
Is this August, 2005, again, or something? If I'm paying one dollar less than $1 million for a property, I expect to eat directly off the floors and have several physicians approve the meal.
Posted by: Anonymous at June 15, 2008 7:07 PM
It's so funny that "European Style" always seems to connote missing basic amenities. Usually, it means a shared bath, dressed up to sound like it's more enlightened than a private bath. What does it mean here?
Posted by: hugh at June 15, 2008 10:22 PM
In this case it means no elevator (4th floor walkup), no parking and apparently no laundry (although I'm not certain about the laundry).
This place is all about the view and the light.
Posted by: has_seen_it at June 16, 2008 9:21 AM
The MLS listing is insulting. Do they really think someone ready to spend $1million is going to respond to such childsh remarks such as "picnic anyone" and "great latte potential"?
of course, there are plenty of morons with money these days.
Posted by: sfsoma at June 16, 2008 9:56 AM
Jenkins is a complete douchebag. The corporate powers that back no talent bands and push them into the lime light paid a bunch of SF 'cool kids' to be seen with the D-bag in question and be photographed back before anyone knew who they were. Whenever the camera wasn't there, he was using both hands to flip us all off.
No sweat though, easy money for spending a morning hanging out with my friends.
Posted by: video at June 16, 2008 11:03 AM
There is a stackable washer/dryer.
Posted by: Christy at June 16, 2008 2:13 PM
Stephen Jenkins was a failed Lower Haight rapper. Then he turned rocker. Nuff said.
Posted by: fluj at June 17, 2008 9:13 AM
Stephen Jenkins dated Charlize Theron. Nuff said.
[ Editor’s Note: We’re with vapor on that point. And now back to 1254 Washington…]
Posted by: vapor at June 17, 2008 4:10 PM