A rickety abandoned home in San Francisco with no bedrooms fetched a stunning $1.97 million and even spurred a bidding war over the decrepit property.

The ramshackle 120-year-old townhouse at 320 Day Street went for $600,000 over its starting bid at a conservatorship sale auction on Jan. 7, after originally listing for $995,000.

Todd Wiley and Kim Wiley of Compass represented the seller.

“We thought the property would sell for $1.6 million,” Todd Wiley told Insider. “We had data for that. But then the spirit of human competition took over.”

The property is located in San Francisco‘s high-end Noe Valley neighborhood, where the average home sale price is $2.6 million and homes sell on average in 11 days, according to The Real Deal.

“Surrounded by many multimillion-dollar homes, this is the best opportunity on the block and your chance to make it shine as bright as the neighbors,” the listing states. “This is the worst house on the best block, making it a fantastic opportunity.”

The listing also describes the property as a “contractors special” and notes that the deal will likely require cash due to its ‘extreme deferred state.’

Along with its great location, the wood-frame home boasts boarded-up windows, peeling paint, mismatched floors, and only one bathroom.

Email Ben Verde

 

Compass
Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Did you miss Connect Now yesterday? Register now and get instant access to all the replays! Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription