What a million dollars gets you in San Francisco

By: Lauren Gee

In San Francisco’s competitive housing market, you can buy these houses for the low cost of 1 million-dollars…. WAIT WHAT?!

Yes, you heard correctly, these two houses may not be the million dollar houses you’ve dreamed of, but both have potential to turn into a dream home with a prime location included.

In Noe Valley, this two bedroom, one bath recently sold for $1.5 million.  The photos show the house with dated wallpaper, peeling ceilings, chipped paint, and a nice view from the kitchen window.

Sabrina G. Shin, Zepher Realtor says the house could’ve been bought for even more.

“This property is located on a very steep hill, I think the house would have sold even higher if it was located on a flatter street and more walk-able to neighborhood amenities.”

Across the city in the Inner Sunset District, this 2 bedroom, 2.5 bath was listed for $948,000 and recently sold for $1.4 million. Before being listed on the market earlier in March, Shin, described the property as deferred maintenance with black mold, plumbing leaks and original drawers and cupboards that date back to the year it was built in 1927.

After a few basic repairs, the home had “a fantastic floor plan for easy renovations” and the home received 23 offers, with 6 of them being in all cash.  

“The most competitive offers were adults with money to invest into repairs, the winning offer were 2 young adults with a dad who was a contractor,” that’s what we look for when selling a home says Shin.

A million dollars may be the new norm for houses in San Francisco, but don’t forget that new homeowners will likely have to take account the costs to repair and renovate.  

Photos courtesy: SFARMLS + Open Homes Photography