What would you do with 8,797* square feet of fixer upper realness (*graphic artist floor plan renderings, below)? That’s the question du jour for just about anyone that’s laid eyes on this massive standalone property in San Francisco’s Inner Mission neighborhood.
Previously known as South Van Ness Manor, this stately AF 1890s Victorian at 822 South Van Ness Avenue is ready for its next incarnation. Built as a single-family house and most recently serving as a 29-bed adult care facility, the options are wide open thanks, in part, to its sheer size, usable open space, and density-friendly zoning. Included among the property’s extraordinary 21 rooms are 15 bedrooms and four full bathrooms (and several partial baths) spread across three levels, plus a full-floor basement.
Frankly, it’s amazing the place hasn’t been chopped up into multiple dwelling units.
To be sure, the place could easily burn through $2 million in renovations. It needs everything to keep it going strong for another 100+ years.
In pre-pandemic tech-boom times, 822 South Van Ness Avenue could have been an attractive candidate for co-living design. The location is right and the and existing layout is mostly adaptable. As an income-producing investment tailored to monied and upwardly mobile tenants, it could have been a cash cow. Alas, that ship has sailed.
A developer interested in converting the house to perhaps three or four luxury tenancy-in-common units will quickly realize the numbers don’t make for much meat on the bones. Comparable unit sales in the area suggest combined After Repair Value (ARV) of maybe $7 million at the high end; The 70% ARV Rule would dictate an as-is purchase price below $3 million. Moreover, the absence of on-site parking will be a challenge in achieving that top dollar for any flip configuration.
The property’s RTO-M zoning allows for institutional and retail use compatible with housing, generally consistent with that permitted in NC-1 districts. Senior housing, group housing, homeless shelter, child care facility, social service or philanthropic facility, arts activities, professional services, and design services may be possible uses for all or part of the property. Within those constraints, a an owner could perhaps both live in the house and convert the basement level (directly accessible from the side of the structure) to non-residential use for their own business or another tenant.
Another option is to simply renovate the house as a labor of love and enjoy it in its entirety as a single-family residence. There’s certainly enough room to pack in just about every creature comfort and indoor recreational amenity imaginable.
If 822 South Van Ness Avenue has your creative juices flowing, drop us a line for additional information and to arrange a showing.
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822 South Van Ness Avenue is marketed and exclusively listed by cooperating broker Coldwell Banker Realty. Floor plan renderings show a combined 8,797 square feet of interior space, which differs from the 6,745 square feet noted on public record. This disparity may be attributed to the basement level being unpermitted. All images courtesy of SFAR MLS.
