October 24, 2013

Prime Cole Valley With A Palm Tree Out Front For $900 A Foot

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Purchased for $962,000 in 2003 and then taken down to the studs, the nicely remodeled Cole Valley home at 1024 Shrader Street has just returned to the market listed for $2,950,000.

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There’s a total of four bedrooms across the home's four levels with an open loft level above and an in-law with separate entrance below. The main level is open yet separated and the modern kitchen maintains a bit of Craftsman flair:

1024%20Shrader%20Kitchen.jpg

And while not listed with any square footage, it’s "3,270 square feet per [a] graphic artist."

∙ Listing: 1024 Shrader Street (4/3.5) - $2,950,000 [1024shrader.com]

First Published: October 24, 2013 11:00 AM

Comments from "Plugged In" Readers

This very handsome home reminds me in size, age, and style of a 1907 home my cousin bought last year in the Piedmont section of Portland for 450K. I must admit, when prices go up 2 million in 10 years like on this property, cashing out and moving to Portland looks more attractive all the time.

Posted by: Anon94123 at October 24, 2013 11:27 AM

I wonder if a Victorian home outside of SF still look as charming? My own assessment of market sentiments: the dense collection of Victorians in SF seems to suggest and hold value, as opposed to a one-off Victorian outside of SF.

Posted by: jack at October 24, 2013 11:42 AM

@JACK, have you ever BEEN to Portland? The neighborhoods such as Piedmont present an outstanding collection of Arts and Crafts homes, as well as Victorians.
With turn go the century craftsman bungalows in desirable walkable neighborhoods of central Portland selling for 350K to 600K, it is no wonder the Atlantic Cities article about "San Francisco Exodus" had comments from many former San Franciscans now living in Portland. One person wrote there are more people from Noe Valley she now recognizes living up there than any former neighbors who are still left down here . If I could get the right position in a firm up there , I would cash out and live in Portland in a heartbeat.

Posted by: ReadyToLeave at October 27, 2013 6:54 AM

@ReadyToLeave,

I've been to Portland, but only for a short weekend stay, so I can't really speak to the neighborhood make-up and the exodus of SF'ers to Portland.

(Very shallow observation: I was there on the last weekend of September, and there was a rare storm for the "entire" duration of my stay. I'm putting quotation on the word entire because I am avoiding the overused word "literally". It really was 72 hours of wet, cold, and miserable. I'm admittedly fair-weather in many aspects, however.)

Anyhow, my question was on the ascetics of a singular (or handful of) Victorian if located outside of SF, which I think has the highest density of Victorians. For example, I came across a Victorian in San Mateo once, and it stood out somewhat and seemed out of context. Might just be my cognitive bias.

Posted by: jack at October 28, 2013 10:03 AM

Jack, you are right, a home like this sitting in San Mateo, or the Hollywood Hills would seem rather strange. I fell in love with a craftsman bungalow in the Venice area of Los Angeles, but it seemed rather odd sitting amongst the newer starchitect designed homes so I did not buy it. If that bungalow had been in the Pasadena area, or the Rockridge/Claremont area up here, it would have been worth twice as much as it would be surrounded by a neighborhood of similar Arts and Crafts structures that would attract a pool of buyers who sought out this style of living. Instead, it sat on the market for a long time.

The West Coast has a lot of great neighborhoods of historic character outside of San Francisco, and I am especially fond of some of the neighborhoods of Portland, the East Bay (Piedmont, Rockridge, Claremont, Berkeley hills) and down in the Pasadena area which I feel probably has the greatest collection historic homes of architectural distinction on the West Coast, which many Bay Areans would be surprised to learn.

Posted by: ReadyToLeave at October 28, 2013 5:46 PM

I've always wondered what these houses were like on the inside, so I went to look over the weekend. There are a few odd choices IMO, like the slate steps out front, but overall I liked it - not too Dwell. The top floor under the pointy roof is long and narrow but would still be a reasonable office or playroom. I'm curious if this will get the same price as the place on Cole a few months back.

Posted by: gumby at October 30, 2013 7:14 AM

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