Exclusive | San Francisco home with a longtime live-in tenant sells for $265K after listing for $449K
A run-down San Francisco home with a longtime live-in tenant of nearly three decades in the Bret Harte neighborhood has changed hands yet again — this time for $265,000, after listing for $449,000 in December.The three-bedroom, three-bathroom house, spanning over 2,100 square feet, was sold previously for just $187,500 in a foreclosure auction last July, allowing the most recent owner to cash out with a cool $77,500 profit in less than a year.Located near Hunters Point and the South Basin in the San Francisco Bay, the property is in serious disrepair, with broken wood, a cluttered interior and a desperate need for major renovations.But that didn’t stop its latest sale from closing just two months after its listing price was slashed by nearly 41%.Marketed as a “corner house” with potential, the home was pitched as “awaiting your re-imagination,” according to the previous listing.It boasts a sun-drenched attic bonus space, a gym and a large garage with two-car parking — but its most intriguing feature might be its unfinished basement, advertised as having “major expansion potential.”The house remains tenant-occupied, making it either an “incredible investment opportunity” or a project for a patient buyer, as the listing describes.While the presence of renters may have contributed to the sluggish sale, the price cut ultimately helped it move off the market.The initial foreclosure auction was handled by “MTC Financial Inc.
dba Trustee Corps,” and the deed transfer was recorded in San Francisco County on June 10, 2024, records obtained by The Post show.The home had originally been sold at public auction on April 2, 2024, to the highest bidder for $187,500.While the sale may seem like a steal in sky-high San Francisco real estate, the home’s decrepit condition leaves plenty of work ahead for its new owner.Michelle Pender — who held the listing with Engel & Voelkers — did not immediately respond to a request for comment....