Login Dark

San Francisco Shack Goes on Sale for $600K - The San Francisco Standard

Author: The San Francisco Standard

Source: https://sfstandard.com/2023/10/27/san-francisco-600k-home-for-sale/

Image of San Francisco Shack Goes on Sale for $600K - The San Francisco Standard

A rundown shack in San Francisco just hit the market for $600,000, and neighbors think it's quite the deal.Close to the Daly City BART station and restaurants in the Outer Mission, 150 Shakespeare St.sat vacant for roughly eight years before the owner put the property up for sale this week.Neighbors told The Standard the property was once inhabited by over a dozen squatters, and Realtor Tyler Salame said the shack will require a complete reconstruction.The home at 150 Shakespeare St.in San Francisco, a tear-down, is on the market for $600,000. The sellers have city-approved plans for demolition and a new three-story structure.| Source: David Sjostedt/The Standard"It's not inhabitable," Salame said."It's close to a teardown as can be."The city has already approved plans by the current owner to turn the lot into a three-story, four-bedroom house with a rooftop deck, according to Salame."The views are beautiful," Salame said."You can see the water."The backyard of 150 Shakespeare St., a teardown home on the market for $600,000, is full of weeds.| Source: David Sjostedt/The Standard"Developer's dream!" states the listing for the 150 Shakespeare St. shack in the (way outer) Outer Mission neighborhood.Salame told The Standard the real estate company underpriced the property to attract interest but is expecting to draw roughly $650,000 for the lot—which will then cost up to $400,000 to redevelop, he estimated.A pair of three-story houses down the street from the derelict property have similar designs to the plan approved for 150 Shakespeare St.| Source: David Sjostedt/The StandardSalame cited views of the ocean as well as the Ingleside and the Outer Mission hills as selling points for the property, which he contends would serve as the perfect home for a family that commutes to Silicon Valley.Salame said the owner’s design includes a rooftop deck with views of the city.He pointed to a pair of three-story houses down the street that have similar designs to the plans approved for 150 Shakespeare St.An assortment of items, including a stationary bike, are seen through a side window of the house at 150 Shakespeare St.| Source: David Sjostedt/The StandardMaria Escarraman, a neighbor who’s lived on the street for 24 years, said she knew of people squatting in the vacant house, but it never bothered her. She recommended the neighborhood because it’s quiet, rich with diversity and near the Mission District.The teardown home at 150 Shakespeare St.in San Francisco is on the market for $600,000.| Source: David Sjostedt/The StandardEscarraman said she thought $600,000 was a fair price for the property, despite the shape it’s in.“Oh wow,” she said.“Mine is more than a million.”San Francisco Housing CrisisApartment buildings and housing in the Tenderloin in Downtown San Francisco.| Source: Jeremy Chen/The StandardState officials released an unprecedented—and absolutely scathing—report Wednesday on San Francisco’s housing crisis, noting that numerous impediments to approving and advancing new projects will make the city incapable of meeting its housing goals and local control could soon be revoked if action is not taken.The first-of-its-kind audit by the California Department of Housing and Community Development identified 28 specific actions San Francisco must take to come into compliance and streamline its approval process to meet the city’s Housing Element, which requires the city to accommodate 82,000 new housing units by 2031.Failure to meet some of these goals, some of which have deadlines as short as 30 days, could lead the state to “revoke housing element compliance and may result in additional enforcement action,” officials wrote.

Subscribe To Our NewsLetter