August 10, 2011
In Need Of TLC (And Perhaps An Updated Façade)
Purchased for $836,000 in March 2007 with 20 percent ($167,200) down, seven months later a second mortgage for $134,200 was taken out against single-family home at 166 Encline Court. This past March, the Miraloma Park property was taken back by the bank.
Yesterday, 166 Encline returned to the market in need of a bit of "TLC" and listed for $550,000, 34 percent below 2007 and just over $366 per square foot.
∙ Listing: 166 Encline Court (3/1) 1,500 sqft - $550,000 [MLS]
First Published: August 10, 2011 8:00 AM
Comments from "Plugged In" Readers
Miraloma was one of those plan-B locations that shot up during the boom. $836k was silly for this place but it was the going rate at that silly time. Amazing that the owners have only ~30k skin in the game here.
That facade makes me wonder whether it is original. I'd think that most architects would want to have more window on the facade of an attached house like this to maximize natural light.
Posted by: The Milkshake of Despair at August 10, 2011 8:54 AM
A facade only Stalin would love.
Posted by: 47yo hipster at August 10, 2011 10:00 AM
Seems this owner ran into some difficulty with a renovation shortly after the refi:
Anybody know the inside scoop here?
Posted by: bubblesurfer at August 10, 2011 10:33 AM
All bets are off when there's a retaining wall involved. It might not even have been "NIMBY doesn't want to hear nails being banged," which is what San Francisco's decrepitly populist system, of course, allows for.
Posted by: [anon.ed] at August 10, 2011 10:55 AM
Here we go again.
Plan-B location? The median sales price in miraloma is around $800k. Even as a REO, this property is under priced.
The owner was attempting to convert the basement into an in law apartment until the next door neighbor dropped a dime on him.
It was also on the market as a short sale earlier this year.
Posted by: EsEfGerard at August 10, 2011 12:16 PM
"The owner was attempting to convert the basement into an in law apartment until the next door neighbor dropped a dime on him"
Do you have personal knowledge of what took place there? Because that's not necessarily how it reads.
Posted by: [anon.ed] at August 10, 2011 12:27 PM
Yes. I do have personal knowledge of the protest of permit for this property.
Posted by: EsEfGerard at August 10, 2011 12:36 PM
Seriously, for "Streamline Moderne" this is pretty clunky. Probably looked better in the drawings.
Posted by: Rocco at August 10, 2011 2:26 PM
The way the chimney meets the house with that vent nearby is extremely clunkly and clearly relatively recent work, so the original design has been gone for a while now.
Posted by: Mole Man at August 10, 2011 5:39 PM
Clunky? Honestly, I'm not sure what that term means in this context.
It's just a simple sheet metal chimney cap that's not even used anymore. The Chimney is located in the front corner of the home and that's why the window is located in the opposite corner.
Although unusual, there's to reason to believe that it's anything but the original design. Pseudo art deco?
C'mon guys, who would move a fireplace? and the wood frame window appears to be original.
Posted by: EsEfGerard at August 10, 2011 7:28 PM
I'm not sure if it is streamline moderne or nuevo-stalinist, but it is a standard Miraloma design. Lots of them around here. The only thing unusual, which is a definite downgrade, is that the window is just in the corer. It seems from the outside it could easily extend twice as far across the facade. There's also a mini park across the street that this would look out on.
A good deal in this neighborhood.
Posted by: not so bitter renter at August 10, 2011 8:40 PM
I agree. There is a similar distressed property around the corner on marietta (99) that is in contract for $650k.
The triangular park is actually owned by the City.
The only drawback I see is that Encline is a feeder street for cars coming up/down from O'shaughnessy.
Posted by: EsEfGerard at August 10, 2011 9:40 PM
Looks like this got flipped and just went back on the market today at $869,000.
Posted by: 4-h clubber at February 2, 2012 4:59 PM
Sold for $869,000
Posted by: 4-h clubber at April 16, 2012 1:47 PM