Beautiful Wreck: 587 Jersey, Noe Valley

Walking my dog, yesterday afternoon and I was brought up short by this beautiful wreck around the corner from where we live.

P1010087

Light and shadow from the rafters seemed to make the windows glow like cardboard cut-outs.

P1010088

Here’s the scoop:  Listed in mid-May for $799,000, sold on June 25 for $700,000.  1360 square feet of original detail.  $515 bucks a foot.

I quote from the listing:  “All inside doors, most hardware, some light fixtures appear original and possibly pre-1900.”

Not any more, it seems….

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2 Responses to Beautiful Wreck: 587 Jersey, Noe Valley

  1. Jean-Claude says:

    Now you can safely assume you’ll be spending $500 a foot (at least) to make it pretty again, so for a total price of between 1.3-1.5m. is this a good deal for a house in Noe valley. The real trick would be to use the opportunity to make it bigger? It would be a labour of love though. At least in SF they will not let you demolish and built Lofts there.

    • Misha says:

      My guess is they’ll at least double the square footage and I don’t think it’ll cost them $500 for each of those extra feet. If it’s an owner/user and they end up with a beautiful 2600 sf. house for say another $900k in, they’ll have bought for around $615 per foot, which is good by Noe standards. If it’s a contractor aiming to spin, you can knock 30% off that, and there’s a nice little profit. You’re right about demolition in SF. But here, they’ll keep the gorgeous facade and build everything up behind it.

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