Posted on 01/14/2022 6:00:19 AM PST by millenial4freedom
San Francisco home that has zero bedrooms and has been described as “the worst house on the best block” has sold for nearly $2m.
(Excerpt) Read more at msn.com ...
Does it come with or without turds on the front porch?
Inquiring minds want to know.
Bad enough to be in SF, much less to pay 1.9 million on a sh**box to live there.
Roll some paint on and flip for 3 million... lol
I’m wondering how much of the market is being driven by Chinese desperate for property to invest in?
Their own bubble seems to be bursting at home.
“Extreme deferred maintenance.” Uh, yeah. LOL.
I’m in S.F., and I doubt I know anyone who would say that the 300 block of Day Street is the “best block” in town. Not even close. But is it possible for a contractor to pay $2mn for the dump, put, say, $400k into renovating and sell it for $3.2 mn. Yes, I suppose it is.
Along these lines, I now own a 10 year old car that is worth more than I paid for it. Our entire economic system is going to collapse.
A rundown house that needs a full gut renovation and it fetches $2M. Why not. Money is trash now. People are plonking down cash for NFT’s or “buying” virtual properties for millions. It’s as Heinlein prophesied, “The Crazy Years”.
Good luck that!
Most likely there were homeless living inside and the entire property a toxic waste dump with feces and needles everywhere.
The cost of a tear-down and clean-up will be more than the price of the “house.”
But, with new no-zone laws in effect in California, the property will be turned into condos, with set-aside for Section 8 in order to increase density. Each at- market condo will sell for a million dollars.
I bought a house on wooded acreage that had been reposed. The previous occupants had lived in it without power or water. They’d dedicated one bedroom as the bathroom, leaving numerous large piles which the two years of vacancy had not improved much. The roof had leaked in that room and kept things moist. Even the mushrooms had finally given up. It was such a horrible mess that I cleaned it myself being too embarrassed to ask my helpers who would most likely have declined the opportunity.
A word on passing out condoms at schools. The packrats had found and relocated literally dozens of used condoms into various spaces. When I took out the huge whirlpool tub there must have been fifty used condoms. Magpies had flown in through a broken window to retrieve the shiny condom packages and there were nests stuffed with them, both over the kitchen island and outside amongst the oaks.
What would that home go for in Gary, Indiana or Flint, Michigan?.. On the worst block.
If it sells for that, the guy next door in that clean, freshly paint rowhouse should put his on the market for $10mil...
$1
Location, Location, Location
Over 2100 square feet and no bedrooms means it already has been gutted. So at least there’s that.
I guess its got “good bones”.
That used to be a big thing on Nantucket. People bought houses, tearing the house apart and left just the structure and rebuilt around it.
Such good times
Is it’s own homeless person included?
LOL
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