By Coach A:
FULL DISCLOSURE: This listing is held by a Home San Francisco Agent
Deets:
Address: 504 Ellsworth Street
Price: $869,000
Currently 1000 sq feet of living space (per tax records)
3 bedrooms
1.5 bathrooms
Garage
Garden and deck
TONS of storage
Just 2 blocks from Cortland Ave.
Investment opportunity - An architect has developed a rendering which would legally convert a large portion of the garage into a master suite opening to a garden and yard. Once done, some small changes can me made upstairs to better utilize the living space. You are looking at a remodel of approximately $140K.
Before you shake your head in disbelief, take a look at some comparable stats:
[update: An offer was accepted in 4 days after the home hit the market and is currently pending]
2007 Average Sales price for comparable homes:
- $1,158,000 (3 bed / 2 bath / 1 car parking / 1400+ sqft.)
- $1,236,000 (3 bed / 2 bath / 1 car parking / 1400+ sqft. / 2 blocks from Cortland)
This property is in turn key condition - a couple / family can comfortably live while doing the remodel downstairs, which is a huge plus.
504 Ellsworth Street [Home San Francisco]
Architectural renderings [Deacon Brews]
Investor Alley [San Francisco Schtuff]
2 comments
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January 15, 2008 at 9:04 am
house hunter
i went by on sunday–the place is cute. super tight and clean and the fact that there are options to make a little bigger is cool. it was a bit too small as i have a family of 4, but i could see how this house could make sense for somebody.
January 16, 2008 at 4:48 am
homegreg
House Hunter - i hear ya on the “small” tip. I am a family of 4 and it’s too small for me as well - that said - if I was a young couple - I’d live in the house while i remodeled the downstairs - then i’d have a 1700sqft house with a master suite down (kids go to sleep — mom and dad have their own space!)
Check tomorrow for Investor Alley # 3 - it’s a house made for a family of 4+ in the Richmond with expansion opportunities!!!