OAKLAND, Calif. — A decaying 122-year-old Victorian home marketed as “the worst house on the best block” of San Francisco has sold for nearly $2 million — a striking price the realtor said it was the result of an overbid an auction.

A developer’s $1.97 million cash offer for the 2,158-square-foot lot in the Noe Valley neighborhood was closed last week. On social media page Zillow Gone Wild, some commenters admired the price, while others questioned the value of a home with boarded-up windows, peeling paint and an unstable foundation.

One commenter joked, “It actually has a parking lot. No wonder it sold for almost 2 million!”

The property sold for several hundred thousand dollars more than other comparable fixer-uppers in the area due to a complex conservator sale, said Todd Wiley, representing the seller.

Wiley said a judge approved the sale of the home after its elderly owner was placed in a conservatory. The man’s family, concerned about the way he was living, hired an approved trustee to handle the sale, with the proceeds to fund his continued care, according to Wiley.

AP

A 122-year-old Victorian home in San Francisco recently sold for nearly $2 million.

The home initially received the highest bid of about $1.4 million, and a probate judge upheld the bid, beginning a process that lasted about seven weeks, during which the home stayed on the real estate market and drew significant interest.

At an auction, a probate judge set the bid in increments of $10,000.

“That kept things low and kept five to six bidders in the game,” Wiley said. Two people ended up going head-to-head, he said, “and it’s that auction environment that made it go where it was.”

“They really wanted it, but the data point didn’t support that sale. It was an anomaly,” he said.

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• One of the brightly colored Victorian San Francisco Victorian homes sold for $ 3.55 million, up $ 800,000 from the $ 2.75 million price tag.
• The house at 714 Steiner Street features the popular architecture associated with the city, but the property’s real estate agent told Business Insider it was a “fixer-upper”. A full interior restoration is required.
• The line of Painted Ladies Houses has become one of the city’s most popular tourist attractions thanks in part to her appearance on the sitcom “Full House,” which first aired in the late 1980s.
• You can find more stories on the Business Insider homepage.

There are seven houses, including San Francisco’s iconic Painted Ladies range, and one of them sold for $ 3.55 million, $ 800,000 above the $ 2.75 million price tag, like SF Curbed’s Brock Keeling reported.

The house at 714 Steiner Street has all the elements of that typical San Francisco charm: the pointed roofs, the moldings, the ornate details, the opulent colors. The centuries-old house urgently needs a complete interior renovation.

The house’s listing agent, Jeremy Rushton of Coldwell Banker, told Business Insider that the property was a “fixer-upper”.

Photos show peeling paint, dusty windows, dirty walls, and discolored tile floors. The famous residence is likely to need updates to its plumbing and electrical systems and a complete remodel of its kitchen and bathrooms, Rushton said. The home’s ownership history is complicated, according to Rushton, and this was the first time it has landed on the market in decades.

The line of Painted Ladies along Alamo Square Park has become one of the city’s most popular tourist attractions. Its namesake originated in a 1978 book about the town’s distinctive architecture, and the site was popularized in part through its appearance on the sitcom “Full House”.

Painted ladies’ houses in the market are a rarity – only two have been listed in the past decade, Rushton said. In a city with a housing shortage and its status as an unofficial landmark of San Francisco, it was unsurprisingly enough to find a buyer despite the necessary renovations. And when we spoke to Rushton before it went on sale in early January, he said he wouldn’t be surprised if it sold above the asking price, and that’s exactly what happened.

Take a look inside one of the famous, colorful Painted Ladies houses.

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