504 Russia Avenue (Image Source: MapJack.com)
At the other end of the San Francisco spectrum, the sale of 504 Russia Avenue closed escrow on 12/28/09 with a reported contract price of $250,000 (asking $349,000). Purchaed for $265,000 in June 2001.
Once again, one-bedroom and one-bath over a garage on a 25’x100’ lot zoned RH-2.
Perhaps Just For Posterity’s Sake (504 Russia Avenue) [SocketSite]
2845 Broadway Is Withdrawn In 2010 After 1400 DOM At $65,000,000 [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by Anon E. Mouse

    Original listing price was dreaming at $349K, but I’m still surprised this place sold for less than the 2001 sale.
    Was just reading the prior thread, and it’s funny how perspective on these things works. A $250K place in many other cities (where lockboxes are much more common) would be a serious commission for a realtor, but here, not so much I guess. Still, seems like the listing agent tried to highlight the high points, which were few in number:
    “Court date was 11/17/09. 1st overbid amt was $263,000. Was not overbid. Vacant Edwardian 1BR, 1BA over 2-car garage. RH2 zoning, 25×100 lot. New carpet, new paint in interior. Great Excelsior location, just a few blocks to Mission St shops, restaurants & Muni. This is a probate sale subj to court, to be sold in its current as-is condition, no warranties expressed or implied. Previous owner passed away on the premises.”

  2. Posted by Brahma (incensed renter)

    Since this is zoned RH-2 and the house is basically a tear-down, the selling price, to me at least, indicates the market price of the raw, undeveloped land plus a negative premium representing some portion of the cost of demolition and overhead of the initial phases of new construction. Something like that, anyway.
    Thanks for posting the follow-up, editor. I’ll be watching the Planning Commission Calendar for this one.

  3. Posted by rr

    considering our lot is just about the same size and our land alone has a tax assessed value of about 4 times the price they paid for land+structure here, not a bad deal. I’m sure land is a bit cheaper in that part of town, but I don’t live on the gold coast or telegraph hill either, so I wouldn’t expect a 400% difference.

  4. Posted by OneEyedMan

    New carpet & paint + previous owner died on premises is not usually a recipe for maximum sales price

  5. Posted by t

    previous owner died on premises, new carpet & paint. sounds violent.

  6. Posted by justme

    New carpet & paint. Helluva way to go.

  7. Posted by John

    This place can’t be torn down, correct? At least not easily.

  8. Posted by jon

    Of course it can´t be torn down. It´s….an Edwardian.

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