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November 25, 2009

Cut Down Your Water Bills at Albion Castle

One of the few properties in the Bayview-Hunters Point area that isn’t going into foreclosure is over at 881 Innes. This former brewery—and later, water company—is now a 4BR/2BA home with 1,436 square feet and underground caves. It was reportedly built in 1870. List price is $2,950,000, and the property has been on the market since September.

Along with your ’70s kitchen and pano bay/bridge views, you get water rights to underground springs that produce 10,000 gallons of water daily. You also get the rights to the name Albion Castle Brewery, in the event you want to undertake that venture. The property received landmark status in 1974.

I’m thinking the price tag is a tad high, given the location. Sure, the property is unique, but it’s also very specific. Not sure I see someone paying $3M to live in Bayview.

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