One of the iconic Painted Ladies along the Steiner Street side of Alamo Square Park just sold after about three weeks on the market. And despite its horrific moldy bathrooms and non-existent kitchen — and generally being a total gut job — it went for $750,000 over asking, per KRON4.
Yes, children, certain properties in San Francisco simply command crazy sums, and in this case it's for a view, a location, and a famous facade. Never mind that it's going to take untold sums (easily another million if not two) to get this thing into a some shape for inhabiting. It'll probably end up being a profitable flip!
The 1892 home at 714 Steiner Street, designed by Matthew Cavanaugh as a single-family home, was subdivided many years back into two apartments. And according to a real estate agent friend, it has to remain two units — or else the Planning approvals will likely get complicated to turn this back into a single-family.
It went on the market in early January for $2.75 million, and because nothing in San Francisco sells for its asking price anymore, that got bid up and the lucky buyer now has a new project with $3.5 million as the just the initial cost.
The three-story home boasts a two-car garage, views of Alamo Square in front, and downtown views out the back. Also, a whole lot of linoleum and some rooms that were so bad they didn't even make it into the MLS photos.
Photos via MLS