Decaying fixer-upper on ‘greatest block’ in San Francisco sells for $2M

OAKLAND, Calif. — A decaying 122-year-old Victorian home marketed as “the worst house on the best block” of San Francisco has sold for nearly $2 million — a striking price the realtor said it was the result of an overbid an auction.
A developer’s $1.97 million cash offer for the 2,158-square-foot lot in the Noe Valley neighborhood was closed last week. On social media page Zillow Gone Wild, some commenters admired the price, while others questioned the value of a home with boarded-up windows, peeling paint and an unstable foundation.
One commenter joked, “It actually has a parking lot. No wonder it sold for almost 2 million!”
The property sold for several hundred thousand dollars more than other comparable fixer-uppers in the area due to a complex conservator sale, said Todd Wiley, representing the seller.
Wiley said a judge approved the sale of the home after its elderly owner was placed in a conservatory. The man’s family, concerned about the way he was living, hired an approved trustee to handle the sale, with the proceeds to fund his continued care, according to Wiley.
AP
A 122-year-old Victorian home in San Francisco recently sold for nearly $2 million.
The home initially received the highest bid of about $1.4 million, and a probate judge upheld the bid, beginning a process that lasted about seven weeks, during which the home stayed on the real estate market and drew significant interest.
At an auction, a probate judge set the bid in increments of $10,000.
“That kept things low and kept five to six bidders in the game,” Wiley said. Two people ended up going head-to-head, he said, “and it’s that auction environment that made it go where it was.”
“They really wanted it, but the data point didn’t support that sale. It was an anomaly,” he said.