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October 17, 2011

Leaning Tower of Day Street Still Available


The single-family home at 111 Day in Noe Valley has been kicking around on the market since mid July. It’s being sold through the foreclosure process and is listed at $825,790.

I’ve shown 111 Day to different clients, and we’ve all thought it has potential. Originally listed at $915,000, the 3BR/2.5BA property was sold for $900,000 in 2003. The house has its share of work to do (cracked ceilings and walls, windows in need of repair), and the kitchen could use an overhaul. There’s also a $14,000 termite report recommending various repairs. But in and of itself, 111 Day provides more space in a good location than many other comps and currently available houses nearby for the price.

I think there are two issues preventing buyers from sailing in with an offer. First off, there’s no yard—just a couple small decks, one of which needs to be replaced. 95% of Noe Valley buyers want yards for either kids or dogs. (I’m of the dog variety.) Secondly, as you can see from the above exterior photo, the building has settled and the turret on the righthand side is literally leaning and resting on the building next door.

The listing office has consulted a structural engineer, who’s recommended specific fixes that could address the defect. So if you’ve got your heart set on a Victorian in the nabe that has decent space and could benefit from some TLC, check out 111 Day. But make sure you include an inspection contingency so you can get a second opinion on the structural issue. Many San Francisco homes built at the turn of the century have settling issues, so this one may or may not be one that can be relatively easy to resolve.

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