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• Elon Musk says he’s selling his last remaining house. 
• His Bay Area estate hit the market this week for $37.5 million. 
• The 16,000-square-foot mansion sits on 47 acres and has a pool, hiking trails, and space for 11 cars. 
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Tesla and SpaceX billionaire Elon Musk has been shedding multimillion-dollar properties left and right over the last year. Now he’s parting ways with what he says is his last remaining house. 

In a Monday tweet, Musk announced the sale and called the Bay Area property a “special place” that he wants to sell to a large family. The property in question — a massive, century-old estate just south of San Francisco — popped up on Zillow around the same time. 

Located in Hillsborough, California, the sprawling mansion has 16,000 square feet of interior space, roughly one-third the size of a football field. Perplexingly, it only has six bedrooms to match its 10 bathrooms, the Zillow listing says.

There’s also a ballroom, banquet room, and a professional kitchen — all fancy things you’d expect from a home that’s asking $37.5 million. 

The 1916 mansion sits on 47 acres, complete with a pool, hiking trails, canyons, and a reservoir, according to the Zillow listing. There’s room for 11 cars in a garage and carport. “Special” indeed. 

Read more: The world’s most prominent real-estate investor reveals what he would do with $100,000 — and it’s something he thinks most people should be doing with their money, too

Musk bought the house in 2017 for just over $23 million from Christian de Guigne IV. Prior to Musk’s purchase, the property had been in the aristocratic family for 150 years. 

For Musk, getting rid of pricey real estate and Earthly possessions is all part of a grand plan for humanity to eventually colonize Mars, he told Insider in December. The SpaceX founder told Mathias Döpfner, the CEO of Insider’s parent company, Axel Springer, that he wants to have as much capital available as possible for a mission to the red planet. 

Article source: https://www.businessinsider.com/elon-musk-house-mansion-for-sale-california-zillow-listing-sf-2021-6

San Francisco Supervisor Rafael Mandelman proposed an ordinance Tuesday that would prohibit landlords from violating rental agreements by taking away amenities like storage, parking, bike rooms or laundry from renters.

The proposed ordinance would require landlords to provide a just cause for removing existing amenities, Mandelman said, effectively extending the same legal remedies that apply in cases of wrongful evictions to cases of an illegal removal of housing services.

Mandelman said landlords have removed such services when they convert garages and common areas into new rental units, known as accessory dwelling units or ADUs. He said he drafted the ordinance after hearing an increase of such cases reported to his office by District 8 tenants in recent months.

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“Adding a new unit or two or more to existing buildings can be a great way to increase the amount of housing in our neighborhoods, but adding new housing should not come at the expense of current tenants,” he said. “It’s not OK to take away storage, parking, bike rooms or laundry that people have relied on for years and have the right to continue enjoying as part of their home.”

Mandelman said his office reached out to the Housing Rights Committee of San Francisco — a tenants’ rights organization — which was aware of similar cases in at least 10 other apartment buildings around San Francisco.

“Landlords should build ADUs to create new rent-controlled housing, not to remove existing tenants’ contracted housing services,” said Brad Hirn, a lead organizer with the group. “The problem becomes even more troubling when we see some of SF’s largest real estate investment firms using ADUs to sever services and exacerbate the displacement of long-term tenants.”

Article source: https://www.nbcbayarea.com/news/local/making-it-in-the-bay/proposed-ordinance-seeks-to-preserve-sf-renters-amenities/2571532/

SAN FRANCISCO, Calif. (KRON) – SpaceX CEO Elon Musk took to Twitter in May to announce that he’d be selling almost “all physical possessions” and that he would own “no house.”

Since then, Musk sold all of his houses except one in the Bay Area that’s “rented out for events.”

However, on Monday morning Musk tweeted that he decided to sell his “last remaining house.” He said it needed to go to “a large family who will live there. It’s a special place.”

It’s not clear which home Musk is referring to, but it’s likely 891 Crystal Springs Rd, Hillsborough.

The 16,000-square-foot property is listed for $37,500,000.

The 6-bedroom, 10-bathroom home is over a century old with Bay views, hiking trails, and a banquet room.

There’s also a custom-made pond outside the home and a pool.

Article source: https://www.kron4.com/news/real-estate/elon-musk-selling-his-last-remaining-house-in-san-francisco/

A mansion on Billionaire’s Row in Pacific Heights changed hands in recent months and, for the second time in three years, it has set a record-high price for a home sale in San Francisco.

The property at 2920 Broadway — a seven-bedroom, seven-bath house once owned by heirs to the Hills Bros. Coffee fortune — sold in the second quarter of this year for $43.5 million, according to both Compass Real Estate and city records. As the SF Business Times reports, the 1931-built house last set a record when it changed hands in 2018 for $39 million, but it has been trying to command a $40M+ price since the Hills heirs first put it on the market in 2003 for $45 million. (It ended up selling in 2005 for $29.9 million.)

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The new buyer is concealed behind an LLC, known only as NARF NAS LLC, which was only incorporated in February.

From some undated MLS photos on Zillow, the house appears to have been immaculately updated throughout.

The new record price is another sign of the times when it comes to the luxury home market in San Francisco, where in other years there might have been steep price cuts before it sold. Realtors tell the Business Times that the market for properties priced over $3 million has been exploding over the last year, with demand strong almost since the pandemic began — defying the popular narrative that everyone with means was fleeing cities. Overall, luxury home sales in SF were up 46% last year over 2019.

A June report from Compass said that these luxury properties hit their highest sales volume ever this spring, 70% above the previous peak in spring 2019.

Another example from recent months was 2590 Green Street, which sold for $19.5 million in late April.

But not all properties have been this lucky in commanding such a high price. SFist reported on one spec house in Russian Hill that had an original asking price of $45M, but it ended up selling for much less than that, $27M, in December.

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Article source: https://sfist.com/2021/06/15/seven-bedroom-pac-heights-mansion-sets-new-record-for-most-expensive-home-sold-in-sf-at-43-5m/

In the early hours of Monday morning Musk announced on Twitter (via a reply to an earlier tweet of his) that he has now in fact “Decided to sell my last remaining house. Just needs to go to a large family who will live there. It’s a special place.”

The “special” Bay Area home in question is likely this historic 100-year-old mansion in Hillsborough on the San Francisco Peninsula. 

The 16,000-square-foot mansion sits on 47-acres of land with lawns, gardens and private hiking trails.

There are 10 bedrooms and nine and a half bathrooms inside, in addition to a ballroom, a grand formal banquet room, a flower-arranging room and a library. Outside, there’s a detached 3-car garage, an 8-car carport and motor court parking.

In May 2020 we reported that Musk listed the property on Zillow, though records show the listing was removed in November 2020. The property was re-listed yesterday for $37.5 million, per Zillow, coinciding with Musk’s tweet. (The previous listing price was $2.5 million short of that, at $35 million. Records show the home was purchased in 2017 for $23.4 million.)

One of the homes sold by Musk last year was a Los Angeles mansion previously owned by legendary comic actor Gene Wilder, to which Musk made a special request when selling. “Just one stipulation on sale: I own Gene Wilder’s old house. It cannot be torn down or lose any of its soul,” Musk tweeted in May 2020. That home eventually sold to Wilder’s nephew for $7 million.

Musk is currently thought to reside in a property in Boca Chica, Texas, rented from his aerospace company SpaceX.

In a recent interview with Mathias Döpfner, Musk said that one of his motivations for selling his possessions is to prove to people that he’s serious about moving humans to Mars. 

“I’m also just trying to make clear that I’m serious about this,” Musk said. “And it’s not about personal consumption. Because people will attack me and say, oh, he’s got all these possessions. He’s got all these houses. OK, now I don’t have them anymore.”

According to Forbes, Musk is currently worth around $154 billion.

SFGATE Local Editor Tessa McLean contributed to this story.