Here’s a property in my hood that I’ve been watching for years. It’s a condemned teardown with no utilities and a rotten smell that hits you hard as you walk up the block. It’s zoned for 2 units and it’s on a double lot.
I’ve fantasized about building a family compound there, but then the simple math of San Francisco real estate settles in: it just sold this month for $1.65m.
That’s right, a $1.65m teardown. And the new doesn’t-even-have-a-license-plate-yet Bentley that’s been in and out of the driveway lately puts the finishing touch on a description of San Francisco real estate in one picture.
As for the whole San Francisco market in one picture, here’s a good one from my friend Patrick Carlisle at Paragon Real Estate Group: