2222 FRANCISCO Blvd Pacifica, CA 94044 – Unbelievable shack…
2222 FRANCISCO Blvd Pacifica, CA 94044
Price: $239,875
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | - |
| Lot Size: | - |
| Property Type: | Detached Single Family |
| Year Built: | 1948 |
| Stories: | 1 |
| Neighborhood: | West Sharp Park |
Last sale: May 21, 2008 Sold $256,737
This is just truly frightening. I’ll let the pictures speak for themselves:
I think the following is a baby’s room:
I think this is an oven??
Bed & Bath:
There are some more pics on the listing, and I’m glad the realtor is really honest about this POS, but I can’t believe they’re still charging nearly $240k for this? And at first they actually wanted $300k for it. Just incredible.
Comment highlight on 2827 San Juan Blvd, Belmont
KT left this lovely comment on the story about 2827 San Juan Blvd that I thought should be highlighted for those of you who read this through a feed and don’t check old comments:
Oh come on.. you left out the best parts of this little dandy.
1) How about the food left in the back room- is it still decaying on the dresser?
2) Has anyone ever flushed the toilet, or is hte floater still around?
3) How about all the fun you can have rolling down your own private hill- a.k.a, the second level living room floor;
4) The bulging outdoor walls where you can estimate for yourself how much longer before the house gives way.
5) Ever take a peak inside the ‘attics’ of the little rentals? Please do- then you’ll know where all those used oil containers go.
6) It wasn’t a woman who owned the house- it was a man. You can see all of his bank and tax records in the bedroom where he died.
7. The woman, I believe, was his sister- she was collecting the rents and putting them in her pocket. This lasted until the bank protested and kicked everyone out. I could go on and on, but I think you get the gist why this home is still on the market.
Thank you KT for these insights. I also heard that there was an official looking notice taped to the door that said all the structures are worth less than $100. Is that still there? Keep the tips coming because they’re pretty entertaining.
Bottom in Redwood City? 243 Hazel Ave, Redwood City, 94061
243 HAZEL Ave REDWOOD CITY, CA 94061
Price: $232,900
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,160 |
| $/Sq. Ft.: | $201 |
| Lot Size: | 3,800 Sq. Ft. |
| Property Type: | Single Family Detached |
| Style: | Other |
| Year Built: | 1978 |
Last sale:
| Sep 18, 2008 | Sold | $520,625 |
| Apr 06, 2006 | Sold | $690,000 |
| Oct 08, 2004 | Sold | $560,000 |
Loss: $300k to $400k
This bank owned property had a peak sale price of $690,000 in 2006, and now it is being listed for less than $233k. It is being sold by Countrywide/Bank of America. This is a pretty amazing price considering that the zipcode 94061 still has a median price per square foot of over $500. It could be because this home is right on Woodside Ave. and sits right across from a cemetary. Anyway, the pictures look like the real estate agent was running with the camera. San Mateo County also gives this property an assessed value of $717k so the tax bill is pretty high even if you buy it for $233k.
Multi-Family Properties in Trouble
Most multifamily properties purchased in the Peninsula in the past few years probably aren’t cash flow positive. Here are a few highlights of multifamily properties that are listing for below their last sale price now.
127 N Fremont St, San Mateo, 94401 – $11,000 below last sale price
356 Ramona Ave, San Mateo, 94401 – $201k below last sale price
150 N. Ellsworth, San Mateo, 94401 – $20k below last sale price
911 9th Ave, San Mateo, 94402 – $120k below last sale price
341 N Claremont, San Mateo, 94401 – $99k below last sale price - been on the market for over a year.
217 Vera Ave, Redwood City, 94061 – $209k below last price
These aren’t exactly very good investments at the current price points. Each has a capitalization rate of -2 to 4 percent since property tax is pretty high on some of them. I think it will take a couple more years for investment properties to get attractive again on the peninsula.
Mother fatally shot in million dollar home – 29 Hobart, San Mateo
This is a pretty sad story that happened today. Apparently a mother was shot to death earlier today after a robber invaded her home. She bravely saved her two toddlers. The shooter also died. Her address of 29 Hobart was really familiar to me because that’s one of the single family homes that was remodeled by Syme properties. It was listed for more than $1.4 million last year, but is now on the market for $1.198 million. The sale history is a bit strange according to Redfin:
Jan 02, 2008 Sold $649,000 >1,000%/yr Public Records
Dec 18, 2007 Sold $509,000 -100.0%/yr Public Records
Dec 17, 2007 Sold $1,165,000 >1,000%/yr Public Records
Dec 10, 2007 Sold $769,000 >1,000%/yr Public Records
Dec 07, 2007 Sold $480,000 -100.0%/yr Public Records
Nov 15, 2007 Sold $1,200,000 >1,000%/yr Public Records
Sep 28, 2007 Sold $489,000 >1,000%/yr Public Records
The home has been on Redfin for about two months now, and this is pretty tragic. I am glad that the Nguyen children are safe and their mom was really a hero. I hope the family does well under the circumstances. I worked for more than a year pretty much on the other side of that house and it’s definitely not a horrible neighborhood so I think there is probably more to this story. I asked my ex-coworkers about this and they said that they actually heard the gunshots and ran to the window and saw the SWAT team and people running away. That sounds quite surreal.
2827 SAN JUAN Blvd Belmont, CA 94002
2827 SAN JUAN Blvd Belmont, CA 94002
Price: $630,500
| Beds: | 3 |
| Baths: | 3 |
| Sq. Ft.: | 2,380 |
| $/Sq. Ft.: | $265 |
| Lot Size: | 0.3 Acres |
| Age (Years): | 64 |
| Year Built: | 1944 |
| Type: | Detached Single Family |
Last sale: Apr 15, 2008 $900,000
Loss if sold for asking: $269500 or 29.9%
At first glance, this home looks like a good deal for Belmont, but my friend actually went to see it and found out why it was so cheap. Apparently the previous owner was a “crazy lady” who built 9 unsanctioned studios on the lot, and she rented them out against city permits. Her neighbors hated her and the city tried to tear her studios down for years, and then she died. The listing is just for the main house, but whoever is the next owner will probably have to tear down all the unsanctioned construction, and who knows what kind of fines she had. Anyway, my friend said that the place looked like a cult commune. I thought it was pretty funny.
Offers
Subscribe to San Mateo Home Sellers in Trouble
REOs Faithful How to Find Foreclosures REO In Dublin
Homes for sale Upper Saddle River Real Estate Exquisite, Unforgettable