1767%208th%20Avenue%20Before.jpg

Early last year, firefighters responding to a two-alarm blaze within the Inner Sunset home at 1767 8th Avenue discovered over 100 marijuana plants growing in the garage and a drying room on the floor above, the electrical equipment for which was the likely cause of the blaze.

Three months later, the fire-damaged home sold for $750,000.

Completely remodeled and expanded to 2,260 square feet, with a requisite open floor plan and a large garage for two or three cars (no conversion for the number of plants), the now four-bedroom home hit the market this past March listed for $1,590,000 ($704 per square foot).

1767%208th%20Avenue%20After.jpg

The sale of 1767 8th Avenue has since closed escrow with a reported contract price of $2,200,000. Yes, that’s $610,000 or 38 percent over asking and $973 per square foot in an area that’s been running closer to $725 per square foot since the beginning of the year.

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Comments from “Plugged-In” Readers

  1. Posted by The Milkshake of Despair

    + nice turnover of the property, home run on sale price
    + removal of the burglary bars on the front door
    + property returned to residential
    - installation of the Home Despot standard issue oval beveled glass front door
    - fake sky on listing photo

  2. Posted by matteo

    hahaha… fake sky which they didn’t bother with photoshopping the on the window reflection. but it didn’t matter…they still got so much over asking.

  3. Posted by Jordan P.

    I vote bubble. Come on, this is the Inner Sunset, and this one is quite far up the hill (not really fun walking back home after dining/shopping on Irving St)

  4. Posted by dB

    Definitely smoking something…

  5. Posted by Lance

    Wow. The market is hot now, but this is just insane for that place.

  6. Posted by soccermom

    This Sunset sale makes no sense in the context of this house:
    http://www.climbsf.com/for-sale/594-10th-ave/
    I think 10th ave should trade over ask, so perhaps not apples, but not that far off for (twice as much space and real craftsmanship).
    Congratulations to the sellers of the 8th ave home…

  7. Posted by soccermom

    Maybe it’s like the ‘There’s always money in the Banana Stand’ Arrested Development episode.
    “There’s always a stash in the 8th avenue backyard, George Michael….”

  8. Posted by Eddy

    Not many homes out there get remodeled but there are an increasing number of groups finding and flipping these homes with nice results. The homes are getting modern updates and great prices. I can’t speak to the quality of the flips but they look average at best. Results like these will start to draw more interest. Wonder what the average selling psf was over the past 10 years in the Inner sunset. Remember when you could get a stick Vic in noe for 550 psf. Price sprawl.

  9. Posted by simpr

    I live on this block an all I can say is – Insane. Yes, all new but felt cheap.

  10. Posted by noemom

    These are Noe Valley numbers. Amazing. Plus it is too far away from the surfing/beach scene on the other end of the Sunset. I mean who wants to ride the N-Judah with your surfboard.

  11. Posted by been there

    good eye on the photoshop job @matteo. This buyer will lose their shirt and then some

  12. Posted by Linda

    The most important thing is for landlords to continue raising the rent as home prices keep going up.

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