Today, one of our (we’ll just call him/her “readers”) had the chance to get inside 2201 Baker, the $2,490,000 fixer in Pacific Heights, get the scoop, snap a few photos, and open our eyes to a true diamond in the rough. And of course provide us with “before” photos, should we still be blogging when the “after” shots hit the market.
It is a foreclosure (not sure we mentioned that.) About an hour before it hit MLS, it received an all cash, non-contingent, over asking offer from a developer. (Offers were as they come, per the bank’s request, not sure we mentioned that either.) About an hour after it hit MLS, a second offer was received. As of today (we haven’t checked MLS) it should be ratified. Many more offers were attempted, but turned away.
No wonder it went from 15 bedrooms to zero bedrooms
You’ll have to see the next post for that.
We’re hoping some of you readers can go ahead and run the numbers on whether this thing would make sense for a developer. Assuming it needs EVERYTHING, and is historical.
–2201 Baker @ Jackson. Read the disclosures [theFrontSteps]
–Fixer Facing Foreclosure, Move Fast! [theFrontSteps]
–How to sell a home in Today’s Market [theFrontSteps]
–Good Bones [theFrontSteps]
–Real Estate P*rn, for real! [theFrontSteps]