Oddball Hill Property Offered for $5.85 Million
An unusually expansive but dilapidated property is for sale on Potrero Hill. At almost 15,000 square feet, 580 De Haro Street is roughly six times larger than the Hill’s standard lot size. And the asking price of $5.85 million is almost six times last year’s average sale price in the neighborhood, according to an analysis by Paragon Real Estate Group, which indicated an average 2013 price in Potrero Hill of $1,308,054.
“Currently the entire lot and buildings are actively for sale,” said a report by the San Francisco Department of Building Inspection (DBI), which has heard complaints from residents about the property’s condition. But the owner has brought the property into compliance with City regulations. “I have reviewed the property case history,” said DBI Inspector Mike Gunnell. “As far as CES [Code Enforcement Section] cases are concerned, the stakeholder has complied with the Vacant Building Ordinance. The property is registered, secured and is currently for sale. There has not been any action in terms of directors’ hearings or liens applied based on the CES complaints listed, as the stakeholder ultimately complied.”
The property, which is owned by architect Ugo Sap, consists of seven buildings, six of them residential. According to JustLuxe, a web publication, Sap designed two compounds on Stone Canyon Ranch, an estate purchased by billionaire financier George R. Roberts located in California’s San Benito River Valley. Sap also owns the Eagle Eye Sanctuary Foundation in Northern California, a preserve for wild burros.
The price may reflect what a potential buyer can do with the property, as well as the parcel’s size, said Mary Lace, a Potrero Hill real estate broker. While it’s a unique piece of property, Lace said it could sell for less than the asking price.
The property is in deep disrepair. DBI abated three abandoned building complaints last month. In one complaint, a neighbor said a structure is derelict and dilapidated, with damaged walls and overgrown foliage, and is a magnet for illegal dumping and as a place for the homeless to squat. A walk by the property last month revealed graffiti on one of the buildings.
Sap confirmed by phone that he’s the property’s owner, but declined to comment further. His real estate agent at Zephyr, which is handling the sale, referred the View back to Sap.
San Francisco Planning Department information indicates that there are plans to demolish the buildings and subdivide the property into seven lots, three of which would be 25 feet by 100 feet—the typical lot size on the Hill—while four would be 25 feet by 75 feet. The plans call for the construction of two two-unit residential buildings and five single-family homes. A Preliminary Project Assessment (PPA) has been received by the Planning Department and is under review, said Ben Fu, city planner. The PPA is expected to be completed this month, and will be available on the Planning Department’s website.
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