Reader Reports: Parkside home for $1.4M? (2560 22nd Ave)

From our reader:

Is any house in the central sunset worth 1.4 million? The average price in the central sunset 800k -900k.

Please take a look at 2960 22nd Ave, San Francisco which just came on the market.

2560 22nd Ave (before)

…and the kitchen:

Kitchen before

We must first say that this home is technically located in the Parkside, near Stern Grove and that area is quite nice. Having not actually been in the home, we can’t speak to the price, but if the pictures are any indication….oh wait, those are the before shots from the last sale in December 2007 at $900,000.

Read on for the after….

2560 22nd Ave (after)

…and the kitchen:

2560 22nd Ave, (after)

Definitely an improvement on the before, certainly “renovated”, three bedrooms more, and turnkey, but not our cup of tea (especially the gold painted crown moldings). We wouldn’t be surprised if it gets close to what they’re asking. There is a particular buyer demographic this home is perfect for, and they’re out there in droves.

Here are some better comparables to help you see the averages in that particular area of the Parkside, which is entirely different than the Central Sunset to which you refer.

Thanks for your email and question. Keep them coming!

-2960 22nd Ave (before) [MLS]

-2560 22nd Ave (after) [MLS]

15 thoughts on “Reader Reports: Parkside home for $1.4M? (2560 22nd Ave)”

  1. Check out 1826 Great Highway, a Sunset Jr. 5 with Sunroom, and legal room and bath

    down. Just sold for $1,075,000. Great Highway is now considered beach front property.

  2. Seems to be the m.o. in Parkside lately — turn a 2/1 into a 4/3 or 5/4 to try to appeal to multi-generational Chinese families. But that’s a lot of money for Parkside. Take a look at 338991 (on Santiago) and 343166 (25th Ave.) from the “better comparables” link — both of those are on their 2nd set of agents and have had listing prices dropped (multiple times for the one on Santiago). Stylistically, the one on 25th seems to have gone for the same approach.

    Another note about the one on 25th — it was listed last year for 699K and went for 849K in September. Completely gutted and rebuilt on the inside.

  3. Not sure why they kept the wall btw dining and living rooms, but took out the wall between the kitchen/dining/corridor.

    If you wanted to make the thing wide open, might as well take out the wall between dining/living rooms as well, and just leave the pillars in if needed.

    1.4 is a reference point. Let’s see where it ends up. I am thinking somewhere around 1.1

  4. 1496 29th Ave has been on the market for months…Asked 1.35M first, now 1.3M and not moving.

    However, I think these kind of remodeling will move for 1.1 to 1.2M.

    2558 24th Ave is also listed for about 1.4M. Will they move?

    I think last year, there was a nicely remodeled one on 27th, asked for over 1.4M then dropped to 1.3M(?), and disappeared from Redfin…I assume it was sold.

    Alex, what kind of demographics difference do you see between Central Sunset and Parkside? Does Parkside attract higher end buyers?

  5. @John,

    “what kind of demographics difference do you see between Central Sunset and Parkside? Does Parkside attract higher end buyers?”

    It attracts a slightly higher end buyer, but still a very similar demographic to the entire area west of Park Presidio/19th, in regards to Asian families purchasing and all moving in to the same home. That includes Central and Outer Richmond. You do tend to get a few West Portal buyers looking in this area too. But this type of remodel doesn’t necessarily appeal to them. It appeals to a larger Asian family. IMHO. It’s really tough to generalize, but that’s what I typically see.

    @Arlene,

    Saw that one on GH, and was going to do a post on it. Amazing really.

  6. i agree w/alex on this one, it’s aimed at the asian buyer. but they only got parts of it right…namely the gold paint trim, faux tuscany interior, and asian dining room set. but what happened to the ubiquitous red front door, and maximum use of granite in the kitchen???

  7. John,

    You testing my ability to stereotype while still remaining PC?

    Outer: Lots of Asians, lots of white folks with starter homes. Tons of derelict surfers.

    Central: Still tons of Asians (large families living under one roof), a larger pool of UCSF renters, a few “larger” homes, and people that are trying to stay as close to the city as possible.

    Inner: Way more whities than the central or outer. Higher income earners, and tons and tons of UCSF students and doctors. A large percentage of very savvy apartment building owners, and tons of interesting people.

    Don’t make me cross that line! ;-)

  8. Ouch, just received a ad postcard from the realtor (the listing agent, I believe). This property sold for 1.45M.

    2138 26th Ave went for 1.36M

  9. If you listen to IMF that US real estate is still over valued by 20%, then my $1.1m estimate was close to the real value :)

  10. It’s okay anon8mizer, you made an estimate, and you were off. Don’t try to justify it. I think most people are suprised that it got as much as it did. I would have thought $1.2M was a cap over there (now).

    But, I live in inner parkside so I think anything that gets this much over here kicks ass.

  11. To be fair, 2560 22th Ave seems to be a big property. Propertyshark lists it as 1888 sqft. The remodeled sqft is probably over 3000. Has anyone gone to the open house to confirm this?

    I think 2138 26th is more surprising. Propertyshark lists it as 1400 sqft, so it is probably 2400sqft after remodeling, and 1.36M?

    And is Parkside hotter than Sunset now?

    Let’s watch 2087 28th Ave. It is listed for 1.6M.

    In any case, I have to say the upper ceiling of remodeled Sunset/Parkside homes is higher now than 2005/2007. A house similar to 2087 28th, with better views, listed for 1.4M in 2005 (I dont know how much it went for) and it seemed rediculously high to us. And even in 2007, it is rare to see one listed higher than 1.2M.

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