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October 3, 2011

Most Expensive House of the Week: 2531 Washington


Sold for $100,000 over its $5.5M asking price in just three days, 2531 Washington in Pacific Heights closed escrow last week for $5.6M. That makes it the most expensive property sold on the market in San Francisco last week.

The 6BR/4.5BA, 5480-square-foot restored Victorian on a wide lot was completely rebuilt from the foundation up. It features twelve-foot ceilings on the main and upper levels, family room with doors opening to the terrace, plus a lower level with an office, additional family room with custom bar, and bedroom/bath. The property is located right off Fillmore, which makes it highly convenient, too.

2531 Washington was last listed in 2009 for $2.8M. It had been in the same family for more than 50 years, and definitely needed some updating. In January 2010, it was sold for $1,850,000—much more in line with the market. Depending upon how much was spent on the gut renovations, the $5.6M sale last week could be a good deal for the sellers. And the buyers? They’ve just purchased a top-of-the-line home that won’t need any work.

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