The entry price for a big single-family home that needs a total facelift in neighborhoods like NoPa and Hayes Valley is roughly $2M in our current market.
The average price range for a remodeled 4BR+ house in the Haight and Hayes Valley over the past six months is approximately $3M, with renovated, grand-scale houses asking closer to $4M. So buyers looking for the historical, quintessential San Francisco houses that dot these neighborhoods’ blocks are often willing to pay top dollar for a house they can make their own.
Here are two homes currently on the market that would be excellent buys for those seeking a large home with classic San Francisco architecture:
4BR | 2.5BA | 2800 sq ft
List price: $2.2M
For buyers who want to be a block from the heart of NoPa’s Divisadero corridor, 1342 Hayes is a great opportunity. The home has been in the same family for 40 years, which is code for “needs a renovation.” Built in 1887 on two levels, the home has big (for San Francisco) square footage and generously sized rooms. All four bedrooms are on the upper level, which is a big deal. And with an oversized lot measuring 3438 square feet, there’s potential for expansion if that’s needed, too. Expect contractors to come to the offer party. (Listing courtesy of Paragon Real Estate)
4BR | 2.5BA | 2466 sq ft
1-car pkg (for narrow vehicle)
List price: $1,950,000
The same family has owned 185 Haight since the ’70s, and the kitchen definitely confirms that fact:
This is another Victorian house that has all four bedrooms on the upper level. It also has its share of knotty pine, wallpaper and deferred maintenance. But it’s located near the prime Hayes Valley retail and restaurant scene, so buyers seeking a long-term, urban home (or walking distance to the International High School of SF or the Chinese American International School, you can’t do better. (Listing courtesy of Zephyr Real Estate)
And because you’ve read this far, I have a bonus for you. What does a thoroughly renovated home end up looking like? My Zephyr colleague has one such property available off market at 144 Central in the Haight. Here are a few before and afters:
144 Central was last sold in December 2015 for $1.9M and was very similar to 185 Haight and 1342 Hayes—down to having four bedrooms on the main level. The owners rehabbed Central into a 5BR/5.5BA home and are now offering it for $3,650,000.
Does the property look familiar to you? That might be because it was on the market as far back as 2016 for $3,795,000 and, later, for $3,695,000. But the home never sold. We’ll see if 2018 does the trick.
In the meantime, for those non-contractor buyers who’d love to do their own renovation: It’s good to have a solid, realistic understanding about projected costs and permit hurdles. This is absolutely the time to consult with your architect and/or contractor prior to writing an offer.