A zero-bedroom house marketed as 'the worst house on the best block' sold for nearly $2 million in San Francisco

·2 min read
320 Day Street
Compass
  • The "worst house on the best block" in San Francisco sold last week for $1.97 million.

  • The home built in 1900 on 320 Day St. has no bedrooms and just one bathroom.

  • Because of its condition, the property will likely be overhauled.

In a deal that one Instagram user called "peak San Francisco," a 120-year-old home sold last week for just shy of $2 million.

The property is notable not so much for what it has but for what it doesn't: a bedroom.

According to its listing, the boarded-up "contractors special" at 320 Day St. has zero bedrooms, one bathroom, and a kitchen that appears to date to World War II.

320 Day Street
Compass

It is "the worst house on the best block making it a fantastic opportunity," the Compass real-estate agents Todd and Kim Wiley wrote, adding that the "extreme deferred state" meant the buyer needed to make an all-cash offer.

Todd Wiley told Insider the conservatorship sale, which is a process that involves the California probate court, helped push the price to more than double what they had proposed at the outset.

"We thought the property would sell at $1.6 million — we had data for that," Wiley said. "But then the human spirit of competition took over."

In short, Wiley said the conservatorship-sale process subjected the property to a live-auction environment not once but twice, which led to the "head-scratcher" closing price of $1.97 million.

The house is in the Noe Valley neighborhood, which is peppered with multimillion-dollar homes. Single-family homes there sell for a median price of about $2.7 million, according to Redfin.

Nearby, renovated single-family homes with similar space often sell for more than $4 million and can fetch over $6 million, The Real Deal reported, but Wiley said the more appropriate comparisons were the updated homes that sell for $2.8 million and fixer-uppers going for $1.4 million to $1.6 million.

320 Day Street
Compass

The property's other key selling point is its lot size of 2,800 square feet, which is spacious in San Francisco terms. The lot is also zoned for up to two residences.

It's the latest in a recent series of seven-figure sales of uninhabitable properties in the Bay Area, including a historic home and an old theater in San Jose and a four-bedroom home in Walnut Creek that was burned to the studs.

Read the original article on Business Insider

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting