Ask Us: WTF Is Going On With 409 Ulloa (A.K.A Pandora’s Box)?

Where readers ask and we (the community) try to answer:

409ulloa

I have a few questions. I have been looking at 409 Ulloa St in the Forest Hill Extension area. Basically, this property seems to have been on the market since December 2007 as a REO starting at $1.19 Million and then the price keeps dropping [now seeking $689,900]. The issue seems to be that this property seems to have numerous codes of violation in addition to the property size having a discrepancy. In my research, I noticed that the property in 2005 did have a permit to add the 3 bedrooms, 1 bathroom, stairs to connect the basement/garage to the second level in addition, legalizing the existing bedroom and bathroom while converting the existing bedroom to a family room but that permit was never completed and never expired while the latest status is triage. Any idea what that means?

However, I have noticed the property for tax purposes includes the area that was in that permit as it’s listed as 2000+ square feet and 5 bedrooms, 3 baths which was what was used for all the listings through November 2008. The current listing agent only shows the property as 2 bedrooms, 1 bath and 1,065 sq feet which is basically the upstairs. My question is, doesn’t the basement permit have to be completed before it can be taxed because it seems in January 2009 a complaint with the building inspection department was filed for an illegal unit in basement, but if that was the case, why is the house being taxed as such?

Also, how much is the property worth if it’s in perfect condition, as it appears from the pest inspection and home inspection reports a lot of repairs need to be done as the basement level is basically broken and the foundation needs to be repaired. Does anyone know what the maximum cost is to repair an entire foundation for a house that size, as only the non-converted portion of the basement is visible and can be inspected?

Also, the garage is basically about 4 feet under the surface level, would it cost a fortune to have the house lifted so the floor of the house is leveled with the ground instead of beneath it? Thanks!

Looks like an opportunity to purchase Pandora’s Box. We’ll continue the dialog over email with you, and put you in touch with the correct inspectors, because your questions are many, and answers run deep.

We do hope some readers can provide their insight as well, and we thank you for contacting theFrontSteps.

-409 Ulloa St [MLS]