They grow up so fast.
Just two years ago, Glen Park’s 80 Thor Avenue was a weedy, overgrown lot about the size of a standard tennis court, as it had been for years. That was when its owners put it up for sale, seeking a hopeful $1.85 million, with the addition of permits for an “exciting, detached, brand new 4,000-plus square foot four bed, 5.5 bed single family home” on the site.
Those permits date to 2018, and the former owners picked up the land in 2016 for $950K, itself a hike from a $750K sale three years prior.
Rather than build, they decided to unload the entire package, eventually settling for a small underbid of $1.7 million. As always, note that between purchase and sale there are a variety of hidden costs–the San Francisco entitlements process isn’t cheap.
In any case, the proposed home finally broke ground in 2020, and it shed a couple of bathrooms since the planning phase–the room count is now four beds and three baths, although the square footage is still 4,000-plus. The place even sports a second living room.
Now that 80 Thor has finally been hammered out, the new asking price is more than $5.29 million. Meanwhile, just 500 or so feet away, a similarly sized Glen Park lot at 256 Bemis just went up for sale, asking $799K–and so the cycle begins anew.
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