Robbery 122-year-old San Francisco home sold for nearly $ 2 million at auction | San Francisco
A dilapidated, 122-year-old Victorian marketed as “the worst house in the best block” in San Francisco has sold for nearly $ 2 million – an eye-catching price that the real estate agent said was the result of a bid in an auction.
A developer’s bid of $ 1.97 million for the 200-square-foot property in the Noe Valley area ended last week. On the social media page Zillow Gone Wild, some commentators wondered about the price, while others questioned the value of a house with plank windows, peeling paint and an unstable foundation.
One commenter joked: “It actually has a parking space. No wonder it sold for almost 2 million! ”
The property was sold for hundreds of thousands of dollars higher than other comparable properties in the area as a result of a complex conservatory sale, said Todd Wiley, who represented the seller.
Wiley said a judge approved the sale of the house after the elderly owner was placed in a conservatory. The man’s family, concerned about the way he lived, hired a licensed trustee to handle the sale with the proceeds to pay for his continued care, according to Wiley.
The house initially received the highest bid of around $ 1.4 million, and a probate judge ratified the bid, initiating an approximately seven-week process in which the house remained in the real estate market, creating intense interest.
At auction, a probate judge set the bid at $ 10,000 increments.
“It kept things low and kept five to six bidders in the game,” Wiley said. Two people eventually went neck and neck, he said, “and it is the auction environment that led to it going where it was”.
“They really wanted it, but the data point did not support that sale. It was an anomaly,” he said.
