September 30, 2010

From Seven To Three (And Rebuilt Facade) Over The Past Thirty Years

2409 Octavia

Seven units with a stucco façade when purchased in 1977, over the past thirty years the owners of 2409 Octavia have rebuilt the façade and recombined a few of the units; it’s now a three-level home over two legal units.

Back on the market and asking $3,447,000, bonus points for a photoshopped solution for finishing off the garage a bit more.

∙ Listing: 2409 Octavia (6/4.5) - $3,447,000 [Zephyr] [MLS]

First Published: September 30, 2010 8:15 AM

Comments from "Plugged In" Readers

The problem with the street level is not so much lack of detail, but lack of sense of entry.
It appears you need to go past the neighbor's sewer pipes around the corner to enter.

Posted by: John Stromwall at September 30, 2010 8:43 AM

And yet that patio area over the garage provides an excellent staging area to prepare the boiling oil to repel anyone trying to scale the battlements.

Posted by: diemos at September 30, 2010 8:48 AM

Two stories to the front door, then three more flights to the top is going to get very old, very fast. Your knees will be shot in a year!

Posted by: tipster at September 30, 2010 9:06 AM

3 more flights? Your knees will be shot within a year? Three story houses should be banned.

Posted by: sparky-b at September 30, 2010 9:15 AM

Why should 3 stories be banned? Everyone is not to lazy or old to walk up stairs

Posted by: mikey woodz at September 30, 2010 9:38 AM

Entrance is to the left of the garage. Better pics in the MLS photos. The income units look like dungeons and look as if they are occupied; so you're inheriting tenants, good or bad depending on ppl and rents. I'm not an expert on SFHs w/ income units, so I guess the price depends on the rents but this feels a bit high to me. There is a lot to like about this place, but there is also some serious miami vice tile effects going on in there.

Posted by: eddy at September 30, 2010 10:00 AM

Think of the stairs as a built-in gym membership. Don't be such wusses. You sound like the people who have to park right next to the front door of the gym - as though walking a few steps will kill you.

Posted by: Marcie at September 30, 2010 10:13 AM

That is some terrible looking income units - who would like to live like that without (almost) any natural light?

Posted by: Mike at September 30, 2010 10:16 AM

As for that great wall of garage, add more filigree then cover it with some lovely bougainvillea.

Posted by: stucco-sux at September 30, 2010 10:18 AM

although not my style, there is a lot to like about this place. Tall ceilings, good light. Layout looks ok as far as I can tell from pics.

the kitchens and baths are most unfortunate, but I like that they left them instead of putting in cheap maple/granite/SS kitchen. might as well let the prospective owners do that.

the contrast between front facade and garage facade is striking.

overall, after new kitchen and baths and a few upgrades here and there this place could be quite nice.

Posted by: ex SF-er at September 30, 2010 10:20 AM

So in Pacific Heights, you can go from 7 units to 2. But in the Portola, you can't go from 1 unit to 1. I see how it works now.

Pretty ugly facade with the garage taking over. I like the boiling oil idea.

Posted by: sfrenegade at September 30, 2010 10:36 AM

I'm sure the unit mergers were done ages ago. Anyone have any idea? Trust me, planning loathed to grant DUMs especially in pac heights.

Posted by: Denis at September 30, 2010 11:08 AM

Three flights aren't a big deal for young, healthy, childless people. However, if you're disabled or elderly, you're going to become more house bound. If you have young children, have fun lugging your car seat, stroller, diaper bag, etc. up and down the stairs every day.

Posted by: Q at September 30, 2010 11:29 AM

Maybe I'm in the minority here, but I think this place is a mess. Sure there are some fantastic original details and woodwork, but far too few to warrant the asking price. A major "fixer" in my book.

Posted by: jason at September 30, 2010 11:30 AM

Whoever designed the main kitchen must have been a huge fan of Tetris. I would have to gut it immediately.

I don't think the house is a major fixer -- the rentals leave much to be desired, and I wouldn't want to live there, but some people don't care if they live in caves.

Posted by: Lori at September 30, 2010 3:02 PM

This is a beautiful home. Well put together, room for the whole family AND two rental units to assist with the land taxes and earthquake insurance whatta beauty.

Posted by: aboveitall 5000 ft at September 30, 2010 3:35 PM

What's up with the front facade windows? They're totally wrong for the house.

Posted by: curly at September 30, 2010 4:04 PM

The couple who will end up buying this have money coming out of their alimentary canal; they probably aren't going to use the top-level room for ballroom dancing practice even if they are young and childless.

They'll probably have a private Yogi or Pilates instructor come over three times a week for personal instruction, and use that room for the studio, instead. The instructor will lead them through all manner of stretches and exercises to strengthen the knees and the three flights of stairs won't be a big deal at all after a few months.

Posted by: Brahma (incensed renter) at September 30, 2010 8:41 PM

... or they will find a way to install a lift or elevator.

Posted by: Oceangoer at September 30, 2010 10:44 PM

bonus points for a photoshopped solution for finishing off the garage a bit more.

OK, I'll bite. How do I upload files?

[Editor's Note: Email tips@socketsite.com.]

Posted by: Dan Clark at September 30, 2010 11:01 PM

An hour after we published our "Tricks And Treats" piece, the list price for 2409 Octavia was reduced $457,000 (13%), now asking $2,990,000.

Posted by: SocketSite at October 29, 2010 5:31 PM

Now asking 10% less: 2.7.

Posted by: tipster at December 7, 2010 11:13 PM

As noted above, the list price for 2409 Octavia has been reduced another $290,000 (10%), now asking $2,700,000 or 22% under its original list price of two months ago.

Posted by: SocketSite at December 8, 2010 9:13 AM

Getting closer, and good for them for chopping the price here. I love these old school comps where the seller has everything to gain. We'll see a good market price here, but the apartment units, whether rented, or un-rented, will obfuscate the true comp unfortunately. Anyone know about the rental units? I'm going to go with just a guess of $2.454M.

Posted by: eddy at December 8, 2010 9:36 AM

From 3.447 to 2.559.

Posted by: tipster at January 19, 2011 11:36 PM

In Escrow. Another sign of the market (buyers) reacting to lower prices.

Posted by: eddy at February 2, 2011 1:47 PM

While the sale of 2409 Octavia appears to have closed escrow two weeks ago, the MLS has just been updated to reflect a reported contract price of $2,300,000 (33 percent under original list) for the 5,950 square foot property.

Posted by: SocketSite at March 9, 2011 12:46 PM

Ha ha, this went WAY under all of the bulls' estimates. Clearly a sign of major market weakness.

(I'm just poking fun at eddy for doing the opposite on Gough - his was the only guess and it wasn't that far off - 6.7%, 3 months before it sold).

Posted by: tipster at March 9, 2011 1:26 PM

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