537 Grove St.
3 BR + Den, 3 BA San Francisco Home for Sale 1,998 Sq. Ft.
Rare 2-Parcel Development Opportunity in Hayes Valley
Address: 537 Grove Street
Neighborhood: Hayes Valley
City: San Francisco
Bedrooms: 3 BR + Den
Bathrooms: 3 BA
Square Feet: 1,998
Sold On: 12-Feb-2018
This extraordinary development opportunity in a prime Hayes Valley location offers approved plans for 3,208 sq. ft. of living space with 2-car parking; graywater and solar systems; and open space access on the 537 Grove Street parcel with the adjoining 440 Ivy Street parcel also available as a vacant lot for potential development. Currently a two-story 3 bedroom plus den, 3 bathroom, 1,998 sq. ft. single-family home, 537 Grove offers approved plans that call for a grand 2-level main home with 2,387 sq. ft. of living space (Unit 2) and a garden-view 1 bedroom, 1.5 bathroom grade-level home (Unit 1) on a 1,846 sq. ft. lot. Additional concepts for an optimized 3-4 bedroom/3.5 bath configuration are also available, though not yet approved. The potential for this project is tremendous, as the builder can enjoy flexibility in selecting finish grades, adding amenities, and balancing the classic facade with contemporary design, all on a charming tree-lined Hayes Valley street.
With its flexible potential floor plans, a convenient location near Hayes Valley’s burgeoning commercial core, and immediate build opportunities, 537 Grove is a unique value-add opportunity for the discriminating buyer as either a premier development opportunity or an ideal owner-occupant property with an auxiliary unit. Opportunities to step into approved and late-stage projects in a prime central location are seldom seen, so take advantage of this rare offering. The 1,304 sq. ft. parcel behind 537 Grove Street, 440 Ivy Street, is also for sale, offering the opportunity for both parcels to be acquired (together or separately).
With one of the best Walk Scores in the city (according to WalkScore.com) and easy access to downtown San Francisco, BART, and Muni, Hayes Valley has become the go-to destination for a broad range of demographics in urban home buyers. A central location flanking SOMA, the Lower Haight, Duboce Triangle, the Mission, and the Castro as well as a diverse selection of boutique retail, fun eateries, and world-class entertainment bring many visitors to the area every day. Unlike other up-and-coming San Francisco neighborhoods, Hayes Valley has retained its own unique sense of community and inviting feel, in spite of rapid commercial and residential expansion.
Existing Home Features:
• 3 bedrooms plus den, 3 bathrooms
• 1,998 sq. ft. per tax records
• 2 stories
• Renovation required before occupancy
• 1-car garage
Planned Unit 1 Features:
• 1 bedroom, 1.5 bathrooms
• Garden-level flat
• Open-concept living/dining area
Planned Unit 2 Features:
• 2-4 bedrooms, up to 3.5 bathrooms
• 2,387 sq. ft.
• 2-story residence on upper levels
• Open-concept living area
• Modern kitchen
Planned Building Features:
• 2-unit building with 3,208 sq. ft. of living space on a 1,846 sq. ft. lot (per parcel map)
• Classic facade with modern design underpinnings
• Artist renderings depict modern interiors with contemporary design finishes
• 2-car garage parking (mechanical car lift), graywater tank, solar panel and other energy efficient design features
• Dynamic Hayes Valley location on tree-lined street close to downtown San Francisco, public transportation, and an incredible variety of shopping, dining, and nightlife destinations
Interior renderings and floor plan drawings are artist concepts for illustrative purposes only. No representations are made as to the current status of the existing plans, the noted approvals on the existing plans, or any potential changes to the existing plans. Approved plans are available for review. Buyer/builder is encouraged to validate and optimize the expansion and any changes to their specifications and satisfaction. Note that the 3 bedroom plan version is not approved and is for illustrative purposes only. Photos include images of 440 Ivy Street, which is available for purchase with this property or separately.