2668 Vallejo
After last being listed for $6,350,000 in 2007 (and sold), 2668 Vallejo is back on the market for $8,500,000. Think renovation more than appreciation over the past two years.
According to permits, the basement was partially excavated and first turned into living space and then later converted into a two-car garage (complete with new curb cut). A wine cellar and workshop were added, bathrooms were spruced up, and the foundation was partially replaced.
More recently a three level addition on the back, a new roof deck up top, a media room extension down below, and a kitchen and master suite renovation inside were all kicked-off with an anticipated completion date of June 2009 (“an opportunity for the sophisticated buyer to select their finishes” in listing speak).
And while a sale for anything over $6,350,000 is sure to be counted and misreported by some (or some reports) as “appreciation,” we trust that any plugged-in person would know it’s not. Regardless, we do appreciate the home.
∙ Listing: 2668 Vallejo (4/5) – $8,500,000 [ninahatvany.com]

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Comments from “Plugged-In” Readers

  1. Posted by gh

    Fantastic block.

  2. Posted by sleepiguy

    Lovely home on a lovely block… and yes, this house underwent a major transformation. The price seems a bit high, but there are so few houses in Pac Heights that are in move-in condition, that maybe you can justify the price tag…

  3. Posted by eddy

    Still listed as coming soon, and not on the MLS. This is an interesting situation and a potential disaster for the developer who likely over paid in 2007. I’d argue that based on today’s situation that this place should be closer to $7M – $7.5; and the place prior to renovation was closer to $4.5-5.5. That said, if the renovated house on the Fillmore bus line can sell for $5M (clearly a comp) than this is probably not too far over priced. That said, I think that Fillmore house represents the last fool; as the market quickly turned on a dime. I would rather have, and invest in fixing up the Broadway property (recently in contract) will killer views than this place. More deals are coming — but this place is very nice.
    Nina’s site has an estimated property tax of 1.163 — I though the assessment was a lower %?

  4. Posted by Seb

    It’s not clear if Nina bought this to live in with her husband, or to fix-up and sell. Either way, I’m sure she did a super-tasteful job. I remember it as having a very grand entrance, but a little lacking in terms of upstairs bedrooms. However, perhaps the addition at the back alleviated that problem.

  5. Posted by kthnxybe

    I wish this was a Malin listing so I could see the floor plans!

  6. Posted by StockBoySF

    From the few pics, I think this house is very tasteful. Some nice details without being overly done up.

  7. Posted by Juju

    The Broadway house in deed is a much better deal. Better location and better views. Sure, this house looks grander and the Broadway house does not have a parking space in the house but we all know the number one rule in real estate: location, location , location. You cannot beat the Gold Coast in SF (and the view that these last 3 blocks of Broadway offers).

  8. Posted by EBGuy

    And just down the hill, looks like the founder of Unique Global Estates may have been a bit agressive on the refi’s at 2543 Vallejo (2788 sq.ft.). A NOTS was filed on April 17 according to the SF Recorders website. Date for the trustee sale, according to RealtyTrac, appears to be Oct. 26, with a balance north of $3million. Oh, and don’t leave home without [a lawsuit].

  9. Posted by eddy

    Always grateful for the information EB. Did 2668 ever sell? I don’t think it was ever listed on the MLS?

  10. Posted by EBGuy

    Did 2668 ever sell?
    No, but it appears to have been refinanced.

  11. Posted by Somedude

    ^the owner moved out and some new people moved in… Renters maybe? Never saw it on Craigslist.
    *sorry for the name change..

  12. Posted by auden

    It was available for rent for $15,000.

  13. Posted by anonymous

    2543 Vallejo is Bank Owned now. I wonder what it will sell for?

  14. Posted by anon

    “2543 Vallejo is Bank Owned now.”
    Wow, if that’s true, epic failure by Nina.

  15. Posted by sleepiguy

    Anon, you need check your vision. 2543 is on the block east of the 2600 block and clearly not the home featured here. It’s a crappy stucco shack on the south side of a horrifically steep block. Should sell in the low 2s -if that.

  16. Posted by sleepiguy

    Just FYI, a flag was erected in front of this house, leading me to think it’s been taken over as a consular residence.

  17. Posted by anon

    My bad, sleepiguy — didn’t realize people were talking about a different property than the subject post, and I’m not sure why you need to be so abrasive about it. In any case, it’s been over a year and Nina couldn’t sell this place — that’s part of what I was referring to.

  18. Posted by sleepiguy

    I’m grouchy because I’ve not had any coffee and the weather is crappy. Where’s Andrea with my Starbucks?? Steak! Where’s my steak!

  19. Posted by anonymous

    sleepiguy, do you think 2543 Vallejo is worth renovating? Is it a fixer? Have you been inside? Crappy stucco shack is a pretty harsh description for Pac Heights… here you go, have some coffee.

  20. Posted by sleepiguy

    Lol.. I did break down and have some caffeine.. Thank you. I’ve never been in it, but I actually think this would be a fun project. I really think you could turn it into a cozy, modern home for not a huge sum of money. It probably has some nice city views from the upper floor. The facade has to go though. My only real issue is that particular block is just insanely steep and this house is kind of in the middle.

  21. Posted by tipster

    2543 seems to be the business address for a real estate company, Unique Global Estates.

  22. Posted by EBGuy

    2453 Vallejo by the numbers. In 2000, a mortgage for $1.395 million. Fast forward to 2010, foreclosed for $2.38 million after multiple refies (yes, WaMu). Don’t worry, a real estate professional has it under control.

  23. Posted by anonymous

    2543 Vallejo is about to go on the market from what I hear. No price info yet.

  24. Posted by anonymous

    2543 Vallejo has been reduced to $2,393,525. It was originally $2,652,000.

  25. Posted by sfagent

    It’s on this site now listed as “Coming Soon” for $10 Million!

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