Noe Valley Fixer-Upper Lists for $799K, Will Sell for Significantly More

Wednesday, May 29, 2013, by Sally Kuchar

Flipping a house is back in style, and Noe Valley is one of the hottest neighborhoods to buy residential real estate in. Pair that with an influx of moneyed tech folk looking to buy in the city and bidding wars becoming the norm, and we have to assume that the final asking price for this quaint fixer-upper on 29th Street is going to be bananas. Think 3928 20th Street bananas. The 2-bed, 1-bath, 868 square foot abode has highlights like a wood-burning fireplace in the living room and a full basement. It's asking $799,000. Dear readers, this home will obviously sell for more than $1M, but exactly how much more? Give us your best bet in the comments!

More photos. >>

· 587 29th St [Zephyr]
· Everyone Went Totally Bonkers Over this Cute House Near Dolores Park [Curbed SF]

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Comments (11 extant)

Tim Bracken

Jeez, Sally, an 868-square-foot fixer upper for over a million dollars? I'm not saying you're wrong, but your post makes me want to cry. Or foment a Marxist revolution.

#1. 05/29/13 03:42 PM

Tim Bracken: 6 comments

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City Guy

This pig is going to take an awful lot of lipstick.......

#2. 05/29/13 04:09 PM

City Guy: 191 comments

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Marco Carvajal

Great bones and unbeatable location. I'd say 950k - 1.2

#3. 05/29/13 04:26 PM

Marco Carvajal: 11 comments

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Marco Carvajal

The property was drastically underpriced FYI

#4. 05/29/13 04:26 PM

Marco Carvajal: 11 comments

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kcp

That anyone would pay even the 800K asking price for this "structure" in this neighborhood is incomprehensible (yes, I follow and understand SF real estate), let alone the cost of rebuilding this very marginal structure--and no parking to boot.

#5. 05/29/13 04:59 PM

kcp: 2 comments

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Mikey Woodz

This may not go that high, its only hope is a lift up for a garage and going back, planning wont allow a level above

#6. 05/29/13 05:29 PM

Mikey Woodz: 3 comments

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Cin

I doubt it'll go for 1mil considering it will take a lot of$ to fix it. Look at the dis-repair of the adjacent houses too. This house isn't a "flipping" candidate unless the others around it fix theirs up. Flippers don't sit on their houses and wait for the neighborhood to catch up.
I hope you do keep us updated on what it does sell for though

#7. 05/29/13 07:24 PM

Cin: 9 comments

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eco+historical

Let me start off by saying that this house is no 3928 20th St.
That house was an amazing opportunity and yes, it was insanely underpriced. It was located just steps from Dolores Park, had a large flat sunny lot, already had a garage entry and curb cut, and had a 15' clear undeveloped lower level that could easily have been finished out. That house was priced similarly at $849K, I think, but it had 1400 sqft of existing home - nearly double the size of this home.
Ultimately, 3928 20th St. sold for a top-of-the-market price of $1000/sqft at $1.4M. At $1000/sqft, this home would sell for $868K. I'm not saying it will, but this home doesn't represent a fraction of the development potential of the 20th St. property and just would not be that attractive.
While Mikey isn't really correct - Planning would have no problem with this home going up a story (well within height limits) or back perhaps 15' given neighboring home depths, the lack of garages on that side of the street could very well result in Planning flatly denying any attempt to add a garage - definitely a show stopper for a developer.

#8. 05/29/13 08:22 PM

eco+historical: 7 comments

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Mikey Woodz

Cin, Noe always surprises with 3m+ homes sitting on a block full of dumpy homes....that issue doesnt seem to effect noe nor does all the ugly power lines....I checked this out Saturday, looking at the flip-tential on this one. Plus' 1. Deep Lot, 2. Charming Facade (if lifted and the bottom level is done correctly, Minus' 1. Upper Noe location, (not bad but not that walkable and the weather isn't as good as lower noe. 2. Neighboring buildings are also one story over basement, so going up will be difficult. 3. No views 4. neighbors don't have garages. All in all I say just over 1m, but not much over

#9. 05/29/13 08:23 PM

Mikey Woodz: 3 comments

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Mikey Woodz

@ eco I wasn't saying going up was a no-go, was just saying that adding a level above would be more difficult that raising the house and adding a level beneath it with a new foundation and I agree this is nothing like the 2othe st prop , that location alone is far better and is more Dolores Heights than this place thats more "diamond Heights"

#10. 05/29/13 08:27 PM

Mikey Woodz: 3 comments

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