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.
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.