How this one slipped through the cracks we’ll never know, but we thought you’d like to see a nice before and after of 838 46th Ave., and get a little scoop. Then help us decide if it sold $65,000 over, $35,000 under, or $1000 over.
Before:
After:
Scoop:
Originally listed in January for $1,395,000 this beautiful 3 bed, 3 bath total remodel rebuild in the Outer Richmond had a price increase to $1,495,000 ten days later. The price was lowered in March to $1,469,000, then 10 days later (still in March) lowered to $1,459,000. The listing eventually expired (technicality, really). Re-listed a couple days after the “expiration” (we’re still in March) at the same price of $1,459,000. It went into contract 10 days after re-listing, then fell out 10 days after that, then went back in 10 days later (puts us at April 24) , and recently sold in May for $1,460,000 (We’re assuming multiple offers to get that price over. If not, the buyer’s agent should be fired, and the seller’s agent commended.) You follow all that?
This is a significant sale for the Outer Richmond, both in terms of price, and type of property for that area. It is also a good indication of the market now versus then (Jan).
So…help us out here. Depending on how you look at this one, it either sold $65,000 above the original asking price ($1,395,000), or $35,000 below the second asking price ($1,495,000), or $1000 above the final asking price ($1,459,000). We leave that to you to decide. Either way, the market put the price right where it should be.
Lastly, in case you were wondering, the “before” price was $795,000 in February 2005.
Regardless of everything up and down on that sale, it is a sweet house!
–838 46th Ave. [mls]
–before and afters [theFrontSteps]
–Unique Property [theFrontSteps]
[disclaimer: it may not be exactly 10 days, but pretty damn close and within a day or two. Also, there were so many ups and downs our head was spinning, so correct us if we goofed. All information and photos pulled from MLS.]
So it must be reasonable to assume that you can do this type of renovation for less than 700k? You certainly hear a lot of noise about how costly it is to remodel here but I’ve never fully understood why the costs are so high. Its remodels like this that make buying a fixer in SF seem do-able.
Nice find and a great property. And nice history recap! Yikes.
It all depends on if you expand beyond the envelope of the house. If you want to expand square footage, you’ll be hearing from the Planning Department, and all bets are off.
Cost are not that high to remodel. You’ll be surprised. If you are a middle-to-lower income earner, it makes sense to remodel and sell. The X-factor is how much your TIME is worth. If you make multiple-six figures and higher. You pay up for the remodel, b/c it’s not worth 3 months of your time to be project manager.
$146 mil on 46th ave? Not my cup of tea.
Of note: the original property was illegally demolished, then the site was red-tagged for many months while the legal wheels turned, then the above building was completed. I live in the neighborhood and walked by daily while it was going on. With legal costs and penalties, they spent a pretty penny on this rebuild (not remodel).
[Editor’s note: Thanks for the neighbor scoop. I’ve corrected the “remodel” to read “rebuild”. How’s the surf today?]