realestate

San Francisco Home Sells for $265K After Price Drop from $449K

San Francisco home in Bret Harte neighborhood sells, longtime tenant remains after nearly three decades.

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n a San Francisco neighborhood where time stands still, a 2,100-square-foot home has changed hands for the third time in under a year. The three-bedroom, three-bathroom property in the Bret Harte area sold for $265,000 after listing for $449,000 in December, a nearly 41% price cut that finally lured a buyer.

    This corner house, "awaiting your re-imagination," boasts a sun-drenched attic bonus space, a gym, and a large garage with two-car parking. However, its most intriguing feature is the unfinished basement, ripe for major expansion. The home's current state – think broken wood and cluttered interior – makes it an "incredible investment opportunity" or a project for a patient buyer.

    The property's history is marked by swift sales: purchased at foreclosure auction in July for $187,500, sold again just two months later for $265,000. The new owner will pocket a tidy profit of $77,500, all while inheriting the home's renovation woes. As one might expect, the presence of long-time tenants has contributed to the sluggish sale process.

    Despite its rough condition, the property offers easy access to public transportation, highways, eclectic eateries, parks, and vibrant urban amenities. The deed transfer was recorded in San Francisco County on June 10, 2024, following a foreclosure auction that saw the highest bidder take home the property for $187,500 on April 2, 2024.

San Francisco home sells for $265K after significant price reduction from $449K.