November 27, 2011

BLACK FRIDAY DEALS: Cheapest House in SF!

It’s Thanksgiving Weekend, and we’re scouring the MLS, looking for the best DEALS out there.  You can even find DEALS in hard-to-buy-in San Francisco.  How about a HOUSE for the same price as the cheapest house in San Mateo County?

Can do!  Just remember that we’re in San Francisco, so their definition of “house” is a little different than what we’re used in the ‘burbs.

1881 Oakdale Ave, San Francisco, CA 94124
$99,000

image

BEDS: 0
BATHS: 1
SQ. FT.: 1,090
$/SQ. FT.: $91
LOT SIZE: –
PROPERTY TYPE: Single-Family Home
STYLE: Victorian
YEAR BUILT: 1900
COMMUNITY: Bayview
COUNTY: San Francisco
MLS#: 387365
SOURCE: San Francisco MLS
STATUS: Contingent
REDFIN: 131 days

Probate Sale with limited authority requiring court confirmation. The subject property is in major disrepair and listing agent has been told that access can’t be provided, and that it may not be safe to enter the property. (no showings) There may be roof damage and fire damage, etc. It is highly possible that the highest and best use is as a tear down for lot value. Ratified @ $95,000 w/ No Contingencies, All Cash, 10 day close, buyer to pay transfer tax, title, escrow, and buyer to take responsibility for all point of sale compliances, As Is. Court Date for Overbid Feb 6th, 9am @ 400 McAllister SF. Must have Cashier’s Check at court. Disclosure package available and overbids will be on same terms, no contigencies!

imageThe listing says “no contigencies,” yet the status is Contingent.  Maybe this house was a Zen Buddhist retreat and you’ll have to listen to the sound of one hand clapping.  Or the sound of one “n” present.

So what does Contingent Status mean in a listing?

This means the sellers have accepted on an offer on the property, but success may still depend on passing a home inspection or the buyer’s financing approval. It may still be possible to tour these properties and submit a backup offer in case the current one falls through.

Given the condition of that staircase, just about anything could fall through.  You just can never tell.image

Lot value only?  Note the lot size above; nothing could be bigger. The public records say the lot size is a whopping 1642 square feet.  Plenty of room to build a rental apartment in the back!

Comments (3) -- Posted by: madhaus @ 4:05 am

3 Responses to “BLACK FRIDAY DEALS: Cheapest House in SF!”

  1. Mole Man Says:

    Oakdale is somewhat nasty, but this place is right on the edge of Silver Terrace which is more like outer Mission or Excelsior than the rest of Bayview. Planning would probably require the facade to be restored, but the rest might be built out. For someone who wants to be in the city with easy access to downtown, can tolerate a neighborhood in transition, and plans for a long term hold this property could be a big win.

  2. SEA Says:

    According to Eileen Bermingham, “Part of taking the pulse of San Francisco real estate means noting the least and most expensive properties currently available.”

    Now I’m not sure how the garbage at the bottom, or, in this case, the garbage at the top has anything to do with the pulse of any market, much less the RBA, but she noted this particular property back on August 3, 2011:

    “This house at 1881 Oakdale is a teardown, as there’s no access to the property and it may not be safe to enter the premises. (It’s the blue home, above.) The sale will be conducted through probate requiring court confirmation. So if you’re a contractor/developer looking for a small project, this may be a good deal. They’ll be looking at offers on August 11th.”

    Now overbidding is expected by Feb 6 at 9:00 a.m., yet it’s in contingent status…

  3. ms Says:

    What’s with this “may be fire damage,” and “may be roof damage?”
    Was there a fire there? There’s fire damage. If SFFD put it out, roof damage.
    No mays about it.
    If it’s red tagged,you can’t go into it. Everyone in the city knows it.
    What’s up with this dancing-around realtard speak?


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