Would you pay $408K for this fixer upper?

http://www.sfgate.com/news/article/Did-the-S-F-buyer-who-scooped-up-a-dilapidated-6584073.php

I will pay any amount as long as there is an upside to the deal to make money. Not sure on this one though.

I will pay any amount as long as there is an upside to the deal to make money. Not sure on this one though.

The property under that shack is easily worth the price currently. Property values in SF rarely fall but ya never know. The next big quake might turn things around.

There are ads on SF craigslist for $1700+ bunk beds.....grown ass people sharing a room!?!?  I'd gladly pay a few hundred over that to mortgage a shack in the city.  It'd be worth it just to avoid commuting in and out with 2-3 million other people.

I'd buy it! just as long as you can build a 3 family home on that land?

  I actually had this property listed for sale in the early 80s.  I think the asking price was 53k.  It was a dive then, and the listing expired on me.  I can't imagined how she had lived there all those years.  The plumbing from the sink dropped into a 5 gallon bucket then.  The floors and the walls were spongy then. Can't figured how the house stood all those year.    It is really currently for land value.  The Bart runs almost over the house.  The property is located in off Alemany near the Daly City Border, half a block beyond the 7elevn store off San Jose Ave.  280 Freeway runs behind/and over the property as well.  I also so the house across the street at 15 Delong for 83k in a probate sale back in those days. 
    Recently I've sold lots for 400k near the Cow Palace..  I just closed a tear down on a 37.5' X 100' lot for $500k. So original I thought this was a steal.  But now I remember the house.

Well it all depends if you can do a remodel and tear all walls down except one. and then when finished tear the last wall out.

It's beyond me why anyone would pay any price to live in the city or anywhere near it for that matter.
I don't know how you guys do it.
I have to leave in about 5 hours for an event at GG park and am dreading the hell out of it.

I payed $100,000.00 less for a 4 bedroom 2.5 bath, 2500sqft house with an attached 500sqft granny unit that pays for half of my mortgage.

So, no.

I'm with Tote.  Just one of the many reasons I would never want to live in the City.  Too expensive, too many people, too many cars, too many...................

I'm with Tote.  Just one of the many reasons I would never want to live in the City.  Too expensive, too many people, too many cars, too many...................

That's why I moved out after 30 years. It's nice to be able to park all of my vehicles in front of my house in SJ.
I had to pay for parking 6 blocks from my home in SF just so I could have a designated parking spot.

It's beyond me why anyone would pay any price to live in the city or anywhere near it for that matter.
I don't know how you guys do it.
I have to leave in about 5 hours for an event at GG park and am dreading the hell out of it.

One day we'll all figure it out......and then flood charming foothill towns like Placerville 

Too late. The yuppie organic hippie vineyard owners are already there. Just come to Petaluma Mike. We go eat somewhere. Problem solved.

One day we'll all figure it out......and then flood charming foothill towns like Placerville 

It's already figured out...we call it "The Big One".

Not a chance, You couldnt gift me property in the city. Taxes alone would kill you.