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A rickety abandoned home in San Francisco with no bedrooms sold for a staggering $1.97 million.
After originally listed for $995,000, the decrepit 120-year-old townhouse at 320 Day Street sold for $600,000 more than its opening price during a conservatorship sale auction on Jan. 7.
The dilapidated home was listed by Compass' Todd Wiley and Kim Wiley.
Todd Wiley told Insider, "We thought the property would sell for $1.6 million." "We had information on that." The spirit of human rivalry took hold after that."
Source: Compass
According to The Real Deal, the house is in San Francisco's high-end Noe Valley area, where the typical home sale price is $2.6 million and residences sell on average in 11 days.
The listing claims, "Surrounded by many multimillion-dollar homes, this is the best opportunity on the block and your chance to make it shine as brightly as the neighbors." "Because this is the worst house on the best street, it is a fantastic opportunity."
The property is also described as a "contractors special," with the description indicating that the deal will most likely require cash due to its "extremely deferred state."
The wood-frame house has boarded-up windows, peeling paint, mismatched floors, and just one bathroom, in addition to its wonderful location.
Do you think it is better to have the best or the worst house in the neighborhood? Let us know in the comments below or discuss with a colleague in our next class!