The Victorian building was priced at around 2,000 square feet, known as “the worst house on the best block” due to oversupply.
The 122-year-old Victorian marketed as “San Francisco‘s Worst Log Home,” sold for nearly $2 million, an attractive price the realtor asked at auction due to oversupply.
A $1.97 million development bid for the 200 square foot lot in the Noe Valley neighborhood was completed last week. On Zillow Gone Wild’s social media page, some commenters marveled at the price, while others questioned the value of a home with sash windows, peeling paint, and unstable foundations.
One commenter commented, “There is a parking lot. No wonder it has sold nearly 2 million copies!
The property sold for a few hundred thousand dollars more than other comparable garages in the area after a complex tusk sale said Todd Wiley, who represented the seller.
Wiley said a judge approved the sale of the house after the primary owner was arrested. The man’s family, concerned for his survival, hired an approved trustee to handle the sale and the proceeds will go towards his continued care, according to Wiley.
The house originally received the highest bid of around $1.4 million, and the probate judge upheld the bid and began a roughly seven-week process that kept the home on the housing market, generating a lot of interest.
At the auction, a probate judge decided the bid in $10,000 increments.
“It’s kept things low and kept between five and six bidders in the game,” Wiley said. In the end, two people faced each other, he said, “and it was that environment that got him where he was.”
“They wanted it, but the data didn’t support this sell-off. It was an anomaly,” he said.