- The "worst house on the best block" in San Francisco sold last week for $1.97 million.
- Located at 320 Day Street, the 1900-built home has no bedrooms and just one bath.
- With its "extreme deferred" condition, the property will likely see a dramatic overhaul.
In a deal that one Instagram user called "peak San Francisco," a 120-year-old home sold last week for just shy of $2 million.
The property is notable not so much for what it has, but for what it doesn't: a bedroom.
Currently a boarded-up "contractors special," the house at 320 Day Street is listed as having zero beds, one bath, and a kitchen that appears to date back to World War II.
"This the worst house on the best block making it a fantastic opportunity," Compass agents Todd and Kim Wiley wrote, adding that the "extreme deferred state" meant the buyer needed to make an all-cash offer.
Todd Wiley told Insider that the conservatorship sale, which is a process that involves the California probate court, helped push the price to more than double what they had proposed at the outset.
"We thought the property would sell at $1.6 million – we had data for that," Wiley said. "But then the human spirit of competition took over."
In short, Wiley said the conservatorship sale process subjected the property to a live-auction environment not once, but twice, leading to the "head scratcher" closing price of $1.97 million.
The house is in the Noe Valley neighborhood, which is peppered throughout with multimillion-dollar homes. Single-family homes there sell for a median price of about $2.7 million, according to Redfin.
Nearby, renovated single-family homes with similar space often sell for more than $4 million and can fetch over $6 million, The Real Deal reported, but Wiley said the more appropriate comparisons are the updated homes that sell for $2.8 million, and fixer-uppers going for $1.4 to $1.6 million.
The property's other key selling point is its lot size of 2,800 square feet, which is downright spacious in San Francisco terms. The lot is also zoned for up to two residences.
It's the latest in a recent series of seven-figure sales of uninhabitable properties in the Bay Area, including a historic home and an old theater in San Jose, and a four-bedroom home in Walnut Creek that was burned to the studs.