Having hit the market two months ago listed for $11 million, the list price for the Presidio Heights property at 3636 Clay Street has just been reduced by $1.2 million, now asking $9.9 million for the 8,000 square-foot home and newest member of our growing million dollar price cut club.

Built in 1899 and having only traded hands a couple of times, the current tax assessed value for 3636 Clay is $294,125.  As such, the property tax bill for the home totaled $3,744 last year versus closer to $116,000 a year if it sells at asking, down from $130,000 a year yesterday.

And once again, while the listing doesn’t include a single parking spot, it does include a permit to add a garage.

12 thoughts on “Presidio Heights Home Joins The Million Dollar Price Cut Club”
    1. The cons far outweigh any “pros.” Once again, California is the *only* state in the country with this backward rule, and grandmas everywhere else are doing just fine.

    1. Agreed. Just out of curiosity, how hard is it to strip the paint on all the trim? I assume it would require a lot of masking, paint stripper, sanding, and then refinishing. The cornice pieces are of course going to be harder. I have seen paint stripped fairly easily with a heat gun.

Leave a Reply

Your email address will not be published. Required fields are marked *