Just when we think the world of real estate can't get any more astonishing, we're left shocked by another news headline. This time, we're looking at the fact that a 122-year-old decaying San Francisco home with zero bedrooms just sold for $1.97 million. In the listing, it was actually dubbed the "worst house on the best block," since it's surrounded by several multimillion-dollar homes.
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According to KRON4, the zero-bedroom, two-bathroom, 2,158-square-foot residence located at 320 Day St. in the Noe Valley neighborhood was originally listed at $995,000. This occurred after a conservator had taken over the property from an elderly man who removed rooms and tore out chunks of the foundation. "The property should have been condemned ... It was structurally unsound," Todd Wiley, half of the home's realty team, told KRON4.
San Francisco real estate blog The Front Steps also states that neighbors complained the house was shedding lead-based paint. Other reports described the home as "unsafe" and "abandoned."
After hiring a licensed fiduciary to handle the home sale — with the plan being that all proceeds would go toward the elderly man's care — the house went through an initial round of bidding with 11 offers. The highest was $1.5 million. During the second stage of bidding, 38 potential buyers showed interest until a developer officially purchased the home for $1,970,000 in cash, which is $370,000 more than Todd and his partner Kim Wiley thought it would sell for.
As for the future of the home, Todd Wiley confirmed that the buyer will likely resell the home after it's flipped or fully redeveloped.
"This is peak San Francisco if I've ever seen it," wrote one commenter on the @zillowgonewild Instagram post. Another said, "Is it weird I'm surprised it was only $1.9 million." Considering that the home has a spacious backyard and what looks like a parking spot (in San Francisco, no less!), we'd say it isn't that weird when you really think about it in terms of today's wild market.
It will truly be interesting to see how this property changes in the future (and what it sells for once it's remodeled).