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April 15, 2010

Hayes Valley House on Grove Gets Picked Up By Cash Buyer


I toured 554 Grove in Hayes Valley shortly after it came on the market in mid March. The 3BR/2BA, tunnel-entry house had an original kitchen/bath, master suite on the garage level and about 1684 square feet. The termite report was around $7500, and the windows and roof needed some attention. List price was $799,000, which was comparable with condo prices in the area.

One drawback was the house next door—a sort of ramshackle building set back from the sidewalk and filled with cars in the front of its lot. But the location, on Grove between Laguna and Octavia, is just around the block from the heart of Hayes Valley.

Obviously, a buyer liked everything about the property enough to purchase it for $930,000, in an all-cash transaction. So that gives you an idea as to what you can expect to pay for a standalone, single-family home of this size and condition. This is one of the smaller homes in the neighborhood, given that Hayes Valley tends to feature large Victorians or multi-unit buildings. If you’re looking for a condo, the average price for one in the first quarter was $750,929.

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