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April 13, 2016

Flippers Push Prices Past $1M in Crocker Amazon

Crocker Amazon is one of the few neighborhoods in San Francisco where you can buy a home for under a million dollars. Not as well known as its Excelsior or Bayview counterparts, Crocker Amazon seems to be gaining in popularity—and price. Two recently renovated properties just hit the market that promise to further cement what’s becoming a higher price threshold for the area.

The average single-family home in Crocker Amazon now costs $849,000, and two three-bedroom homes sold in the past few months for $1,125,000 and $1,135,000. A majority of recent sales were in the $800,000s, with a handful in the $900,000s. This is a big jump up from 2014, when only one four-bedroom house on Winding Way sold for just above $1,000,000, and homes were selling for a $735,000 average.

What justifies a $1,000,000+ price in Crocker Amazon? Let’s take a look at the houses recently listed with their flipper-owners who are eager to set new neighborhood sales records:

35 Rolph
5BR/5.5BA, 2400 sq ft
Last sold for $920,000 (and listed for $649,000) in October 2015 as a 1350-square foot 2BR/1BA in need of updating, 35 Rolph has been transformed. It’s now a five-bedroom house with two master suites downstairs, three bedrooms on the main level and new kitchens and baths. Here are the old and new kitchens:



35 Rolph is approximately a 12-minute walk from the Balboa Park BART station and a quick shot to 280 for South Bay commutes. You’re also a mile and a half from McLaren Park.

55 Newton
4BR/3BA, 2200 sq ft
Three blocks from 35 Rolph is 55 Newton, the other barrel-front flip that was also sold last October 2015. In this case, the buyers paid $850,000 in a probate sale for the 3BR/2BA house. They’ve now legalized the bonus room and amped things up a bit with a slick renovation. A before and after of the kitchen is always in order:

55 Newton now has a more open floor plan on the main level, and a lower level featuring a media room with wet bar and two bedrooms. The street is a little more tucked away; 35 Rolph is closer to the busy Mission Street strip. Newton is a 15-minute walk to Balboa Park BART, and a quick shot to 280, as well.

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