The single-family home fixer market continues to go gangbusters in San Francisco. Fueled by investors, contractor/developers looking for flips and buyers tired of paying high prices for someone else’s renovations, the demand for houses that need work has never been stronger—whether on or off the market.
The latest example happened over at 3624 Folsom Street in Bernal Heights. Located a block from popular Cortland Avenue, the 938-square foot 2BR/1BA was listed for $659,000 and had a barrage of personal property all over the place, as well as Notice of Violation from the city. The house was shopped around off market in late summer. 95% of the interested buyers were investors and/or developers, according to the listing agent.
18 buyers submitted offers, and the property just closed escrow for $951,000.