$2,700,000: 150 Glenbrook Dr., San Francisco

After

Clarendon Heights home, San Francisco: $2.7M

150 Glenbrook Ave., San Francisco

Upgrades:  $38K
Staging:  $29K
Listing price:  $2.775M
Days on market: 43 (16 days to contract and 27 days to closing)
Sale price: $2.7M (listing records reflect the net price, as the buyer was a broker and reduced the purchase price by the commission he forewent)
ROI:  345%

The spectacular 4-bedroom, 5-bath home just below Sutro Tower was owned by a Japanese widow who wanted to return to Japan. She had no family in the Bay Area to help with the sale and the move. The family’s long-time CPA, looking for a solution, was referred to Craig by a prominent estate planning attorney who knew of a recent Ackerman success with a similar estate.

Challenge
Readying the 4,400-square-foot home for sale would have been quite a job under ordinary circumstances. But Craig faced a language barrier and an owner who was anxious to leave the country, yet hesitant to make decisions.

He also felt that selling the property in its present condition would have left $200,000 to $300,000 of the client’s money on the table.

Finally, what to do about a built-in 20 x 16-foot traditional Japanese tea room smack in the middle of the living room? It blocked most of the spectacular view. But the owner was emotionally attached to the artifact and wanted it sold with the house.

Solution
Craig orchestrated the owner’s move out, coordinating with her overseas relatives. Once everything was prepped, his team had everything packed and shipped in only two days. Then Craig identified a few obstacles to the sale:

  • dark interior, dark kitchen cabinets and dark furniture
  • the floor-to-ceiling Japanese tea room blocked 5 of 9 living room windows
  • dated, original surfaces and fixtures in the kitchen and bathrooms
  • interior and exterior walls needed paint

With client approvals for his requested budget, Craig had his crew proceed with the renovations, including removal of the tea room. The work was completed in just 2 ½ weeks. Designer Arthur McLaughlin followed and had the home staged in another two days.

Value added
Without upgrades, Craig would have priced this home in the $1.8 million range, but was able to present it as a sophisticated, family-friendly property, closer to $3 million. In just 16 days, they were in contract.

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