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USA Real Estate Blog

50 Percent Price Cut for Newly Remodeled Pac Heights Mansion

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Purchased out of foreclosure for $2.525 million in 2013, the “grandly proportioned circa 1898 Victorian mansion” at 1945 Franklin Street, on the eastern edge of Pacific Heights, has since been “stunningly re-imagined for a modern 21st century lifestyle.”

Now measuring nearly 7,000 square feet of finished space, versus closer to 5,000 square feet when previously acquired or once owned by Nicolas Cage, the newly remodeled mansion features a two new bedrooms and a family room across its top floor and a new lower level with a movie theater and requisite wine cellar.

And having returned to the market priced at $12 million this past June, a list price which was reduced to $8.38 million in October and then $7.5 million in early November, 1945 Franklin Street has just been listed anew with an official “1” day on the market according to all industry stats and a $5.995 million price tag, a sale at which would now be considered to be “at asking.”

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