Tiny House on Sanchez St Sold for $3,132 per Square Feet!

The modest two-bedroom, 870-square-foot cottage at 835 Sanchez Street, which sits on a good-sized 2,200-square-foot parcel with amazing views atop Liberty Hill, has just sold for $2.725 million. At $3,132 per square foot!

Pricey much? It was actually considered a “steal” as it was priced even higher back in June for $2.995 Million. Two years ago in 2016, the parcel was secured for $1.9 Million. Yes, this is all because of location, location, location.

But as is the case with almost every breathless report about the “insane” price of a little cottage that is fire-damaged, dilapidated, even described as a “substandard shack” in San Francisco or to its south, the $2.725 Million purchase price was based again, on the lot value and development potential of the site – not the existing structure itself as it will be fully re-built from the ground up soon.

In fact, there are plans brewing to raze the existing cottage and develop a modern 3,936-square-foot, four-level home designed by San Francisco-based Dumican Mosey Architects. Plans were already drawn and both the project and permits have already been approved by the city.

 

See renders below, which are, of course, subject to change.

 

Source: Redfin, SocketSite

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