Rockridge dump receives 19 offers, sells for quarter-million over asking
Peeling paint, rotting wood, unfinished ceilings and torn-up linoleum didn’t stop prospective homebuyers from making an offer on a ramshackle Rockridge abode.
The teardown at 383 60th St. sold for a quarter-million over asking on Friday after receiving 19 offers.
The one-bedroom, two-bath bungalow built in 1905 went on the market in March for $495,000 and sold last week at $755,000.
People were lined up out the door on the first open house, according to listing agent Dalia Juskys of Red Oak Realty.
“At least 200 people came through,” Juskys said. “There was a little boy down the street who opened up a lemonade stand and was selling lemonade, popcorn and cookies to all the people coming to the open house.”
The Rockridge real estate market is sizzling. The Oakland neighborhood, with its own BART station and a commercial district of trendy restaurants, has seen home values rise 11.7 percent in the last five years from February 2012 to February 2017, according to Trulia. This neighborhood’s surging popularity and prices explains why a dilapidated home, in a prime location between Rockridge and Fairview Park, was a hot commodity.
The seller of the Rockridge home originally purchased the home in the 1970s and hadn’t lived there in decades. When the property first went on the market, Juskys told SFGATE the owner held onto the house to remain in Rep. Barbara Lee’s district. She also admitted her listing was either a teardown or “massive fixer-upper” with no heating or even a workable kitchen.
“It’s quite hysterical,” Juskys said. “Everything is dilapidated … The only thing that’s livable is the bathroom.”
Yes, compared to the home’s other derelict rooms, one of the bathrooms is beautiful. It has natural wood paneling, a sweet pedestal sink and a glass-walled walk-in shower. It looks like it belongs in a glossy spread of a modern home featured in Dwell magazine. Maybe the new owners can bring this vision alive throughout the entire home.
Courtesy of SF Gate.