Dilapidated Shack with Water Views Can Be Yours For Only $2.5 Million

May 14, 2019 - 4:45 pm

Living in San Francisco has a lot of perks, but cheap real estate — or coffee — is not one of them.

While the Bay Area is known for being expensive, a new listing has gone from uninhabitable to unaffordable without a single renovation.

A dilapidated property in the Potrero Hill section is currently on the market for $3900 a square foot.

In other words, a rundown house that needs to completely torn down and then built from scratch is selling for $2.5 million.

For that insane price, you get “rickety stairs (that) lead up to an equally dilapidated porch and overgrown backyard,” reported ABC7 Chicago. Oh, and by the way, there’s no back wall to the property!

With or without a wall, one of the shack’s actual amenities is that it has sweeping views of the Bay Bridge and East Bay of San Francisco.

Another plus for an interested buyer with means is the fact that the property already has the necessary demolition and building permits, which are hard to come by in San Francisco.

In addition, the San Francisco Planning Department has already been approved and zoned to be converted into “four floors, four bedrooms, four full baths, a two-car garage and a private elevator to each floor.” The listing also features renderings of what the property could look like after all the renovations have been completed.

While the $2.5 million price tag is out of reach for many, it’s been a hot commodity in the city that has more billionaires per capita than anywhere else in the world.

In one week, there have been 22 disclosure packets given to interested buyers.

For those not interested in a tear-down shack, the renovated former home of The Tanners on Full House is currently on the market nearby for a very reasonable  $5.9 million.

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