A crumbling, uninhabitable cottage in San Francisco’s Potrero Hill neighborhood has sold for just under $2 million, according to a report from SFGate.
The 640-square-foot shack at 863 Carolina St., covered in rotting cedar shingles, is the latest piece of real estate to raise eyebrows in a city where rent and housing prices continue to rise.
The house was first listed in May 2019 at $2.5 million, and that price was reduced in December. The sale price was $1.975 million.
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Realtor Anne Laury said the sellers bought it for $1.5 million two years ago. Laury told SFGate if the building were inhabitable, it could be worth $5 million to $6 million.
Laury’s client estimated the cost of building on the parcel at $1.8 million.
The shack is unsafe to enter but sits on a property with sweeping, panoramic views.
Article source: https://www.nbcbayarea.com/news/local/crumbling-sf-shack-in-portero-hill-sells-for-nearly-2-million/2248554/