The listing also, in the photos, makes no bones about the access issues, not to mention the nearby rockslide that took place in 2005/2006.
As one local realtor with extensive experience in the market tells SFist, he gets calls from out-of-town developers whenever this property pops up again, wondering whether anything could be built there.
“By itself, I don’t think it has a chance of being developed,” this realtor says. “You’d have to run sewage and utility lines up off of Sansome to this lot as well as perform all the necessary excavation.” When you add that together with the not inconsiderable pushback that is guaranteed to come from the very vocal neighborhood association, the Telegraph Hill Dwellers (THD), things look nigh impossible with this piece of land. And this realtor surmises that the landowner and their agent may be looking to capitalize on the fact that three adjoining parcels are on the market as a package deal with frontage on Sansome at the foot of the hill — and this one might be of interest the buyer of those. That is illustrated in the drawing below.
This may apply to the next-door parcels as well, but our realtor source says, “I just [fore]see a huge ‘freak out’ by the THD and other Telegraph Hill residents over removing a good portion of the hill to build something.”
The realtor describes this as “a very risky undertaking, even for an experienced developer,” and that doesn’t even touch on the city approvals that would be involved.
But the next-door parcels, known as 1235 Sansome, also remain on the market —on a pending sale in 2018 for $998,000, but that appears to have fallen through, and it again for $1,498,000, and was reduced last week to $998,000. A rendering of a possible structure there — with zoning allowing for a height of 84 feet — can be seen below.