Maximum Overbid: A New Year’s Fixer Breaks Bank

There’s nothing quite like the first overbid of the new year–in this case because it’s actually a fairly modest affair all around.

The two bed, one-bath circa 1930 house at 2626 23rd Avenue sold this week after just a little over a month on the market for more than $1.5 million, or more than 134 percent of the initial asking price.

That’s a very respectable sale by any measure, but less spectacular than we’ve seen in some recent weeks, presumably on account of a slower post-holiday period.

As for the home itself, it too is a modest affair–or at least it would seem to be if we could really get a look at it. This one went on the market as a fixer opportunity without photo evidence of any kind; from the outside it looks fine, and the city has no complaints on file for it, with the only work on the place being a new roof in 2018.

Still, whether they realized it or not, these buyers gave us the ideal note to start off a new year on: Something that already stands out but that also has big ambitions to do more. Speaking of which, that’s one weekly overbid down for the year, 51 more to go.

AddressBR/BA/UnitsDOMList PriceSold PriceOverbid
2626 23rd Avenue2/1/N/A6$1,125,000$1,510,00034.22%
2678 22nd Avenue2/1/N/A13$1,195,000$1,550,00029.71%
1574 41st Avenue3/1/N/A6$1,288,000$1,600,00024.22%
631 33rd Avenue 633N/A/N/A/N/A13$1,298,000$1,608,88823.95%
6516 California Street2/1/8$1,195,000$1,455,00021.76%
5426 Anza Street4/4/N/A11$2,295,000$2,750,00019.83%
2390 14th AvenueN/A/N/A/N/A24$1,998,000$2,357,00017.97%
235 Montecito Avenue3/2/N/A7$1,699,000$2,000,00017.72%
1150 Dolores Street1/1/45$899,000$1,050,00016.80%
1968 Armstrong Avenue4/3/N/A11$1,159,000$1,325,00014.32%

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3 thoughts on “Maximum Overbid: A New Year’s Fixer Breaks Bank

  1. As someone who purchased a property that was featured on your Maximum Overbid (not this property), I would like to point out that the listed Price Per Square Foot was deliberately lower than what the average price per square foot in SF was at the time of purchase, and we actually got a really good price on our house. The fact that the listing agents on most properties deliberately list properties price per square foot exceptionally low to get on potential buyer’s radar is never discussed on this blog or other forms of media.

    1. Actually that’s a great point and one we we bring up all the time, both on Maximum Overbid and in general. But it’s true we don’t reference it every week, both because that gets redundant and also because, ah, certain people seem to think we’re accusing them of something if we make reference to this phenomena. -ALB

    2. Thanks Yasmin. We have been mentioning it in countless posts in the past. Something usually along the lines of “priced ridiculously low” or something to the effect of “don’t know who started it but it works” . Regardless, we appreciate you reading our site and encourage you to share our site with friends and family and consider us when it’s time to sell your wonderful property. 👍🏻

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