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1264 3rd Avenue, San Francisco, CA 94122, San Francisco, 94122 - 3 bed, 3 bath

1264 3rd Avenue, San Francisco, CA 94122 home-pic-0
ACTIVE$1,850,000
1264 3rd Avenue, San Francisco, CA 94122
3Beds
3Baths
Sqft
2,374Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Development Potential: Currently a triplex with RTI (Ready To Issue) permits to convert into a quad-plex, offering significant value-add and income generation opportunities.
Top Cons:
Fixer Condition Requiring Substantial Investment: Explicitly described as a 'Fixer,' indicating significant renovation and capital expenditure beyond the purchase price to realize its full potential.

Compared to the nearby listings

Price:$1.85M vs avg $1.51M (+$339,000)69%
Size: sqft vs avg 2,424 sqft8%
Price/sqft:$0 vs avg $62338%

More Insights

Built in 1905 (120 years old).
Condition: The property, built in 1905, is explicitly described as a 'Fixer' requiring 'substantial investment' and facing 'historic building challenges' with 'outdated systems' and 'potential for unforeseen structural issues.' The exterior images show a neglected backyard, and the complete absence of interior photos strongly indicates the current interior condition, including kitchens and bathrooms, is very poor and requires extensive rehabilitation, aligning with the 'Poor' score criteria.
Year Built
1905
Close
-
List price
$1.85M
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
425080142
Home ConditionPoor
Features
Deck
Patio
View-

About this home

Fixer ready to become a quad but currently a Triplex. Highly sought after, San Francisco's Prime location near Golden Gate Park and UCSF Parnassus. Inner Sunset VACANT triplex w/RTI permits re-imagined as a quad-plex. Lrg lot offers exceptional investment opportunity. Each unit designed w/luxury in mind & exclusive outside space. The designs show a stunning Penthouse w/lrg private roof top deck, showcasing interior dormers to grab that natural sunlight. The 2nd unit has a private deck over looking the bkyrd, unit #3 steps out into the exclusive garden area while the lower unit relishes a private enclosed patio. Each unit designed w/gourmet style kitchens. Designs for individual bike and storage spaces. Buildout this amazing quad as an apt bldg or convert to TIC's. JUST 2 blocks from Golden Gate Park, residents enjoy easy access to urban hikes, bike paths, parks, museums & short distance to the beach. The Inner Sunset's vibrant neighborhood offers culturally rich restaurants, corner cafes, watering holes, charming boutiques, and more. Highway 1 and MUNI provide convenient access to all Bay Area destinations. Agent recommends buyer to do their own investigations to verify all information re: sqft, zoning or any other information of property past or present.

Price History

Date
Event
Price
07/23/24
Sold
$1,300,000
06/04/24
Sold
$850,000
Condition Rating
Poor
The property, built in 1905, is explicitly described as a 'Fixer' requiring 'substantial investment' and facing 'historic building challenges' with 'outdated systems' and 'potential for unforeseen structural issues.' The exterior images show a neglected backyard, and the complete absence of interior photos strongly indicates the current interior condition, including kitchens and bathrooms, is very poor and requires extensive rehabilitation, aligning with the 'Poor' score criteria.
Pros & Cons

Pros

Exceptional Development Potential: Currently a triplex with RTI (Ready To Issue) permits to convert into a quad-plex, offering significant value-add and income generation opportunities.
Prime Inner Sunset Location: Highly desirable San Francisco neighborhood, two blocks from Golden Gate Park, near UCSF Parnassus, vibrant local amenities, and excellent public transit access.
Vacant Property: The triplex is vacant, allowing for immediate commencement of renovation and development without tenant relocation complexities.
Approved Plans for Luxury Units: RTI permits include designs for luxury units with private outdoor spaces (rooftop deck, private decks, garden access, enclosed patio) and gourmet kitchens, enhancing future market appeal.
Large Lot Size: A 2374 sqft lot in a dense urban environment like San Francisco provides ample space for the proposed quad-plex development and individual outdoor areas.

Cons

Fixer Condition Requiring Substantial Investment: Explicitly described as a 'Fixer,' indicating significant renovation and capital expenditure beyond the purchase price to realize its full potential.
Historic Building Challenges: Built in 1905, the property may present challenges common with older structures, such as outdated systems, potential for unforeseen structural issues, and stricter renovation requirements.
Project Management Complexity: Converting a triplex to a quad-plex with luxury finishes requires extensive project management, contractor oversight, and adherence to detailed plans, which can be time-consuming and demanding.

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