Is this $5M fixer the restoration opportunity of a lifetime? – SFGate

Is this Russian Hill home, circa 1908, the restoration deal of the century? You'll need $5M to find out.

Is this Russian Hill home, circa 1908, the restoration deal of the century? You'll need $5M to find out.

Is this Russian Hill home, circa 1908, the restoration deal of the century? You'll need $5M to find out.

Is this Russian Hill home, circa 1908, the restoration deal of the century? You'll need $5M to find out.

Is this $5M fixer the restoration opportunity of a lifetime?

Photos of the interior of 1020 Broadway are hard to come by, but the listing information promises six bedrooms and three and 1/2 bathrooms in a 3,500 square foot home.

What we can see looks to be fairly well preserved, with evidence of the home's original early 1900s bones. There are dark wood floors and wainscotting, a fireplace and built-ins, as well as stunning Russian Hill views from a living room that faces toward the bay.

The history

Property records indicate the home went into pre-foreclosure on a loan valued at $4.6 million sometime early last year, with a delinquent amount of $4,885,002.

ALSO: The craziest overbids of the decade all have one thing in common

Also in 2019, before it sold to its current owner/seller, the assessed property value for the home was $409,735 which meant a property tax of $4,935 for that tax year.

Today

Now the home is listed at $4.990 million in a clear foreclosure flip.

Historically, homes sold as fixers fetch a pretty penny over-asking in San Francisco. In fact, all of the most outrageously over-bid properties of the recently passed decade were listed as fixers.

So is 1020 Broadway the fixer opportunity of this decade? If you bought it, what would you do? How much would it cost you? Or, with views and woodwork like this house has, you could just live in it as is.

See the full listing here.

AnnaMarie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest.FollowAnnaonTwitter: @AnnaMarieErwert.

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Is this $5M fixer the restoration opportunity of a lifetime? - SFGate