46-48 Mars Street SF
Listed at: $3,499,000
Magical Mars | Corona Compound
2,607 Sq. Ft.
MAGICAL MARS | CORONA COMPOUND
Perched high above the floating fog and pulsing orb of high-tech San Francisco is the tranquility of Corona Heights, one of the most sought after view neighborhoods in the City. And nestled within, Mars Street is one of those few enchanting city streets that meanders like a country stream between single family homes, eclectic architecture and verdant urban landscaping. Such an idyllic setting is nothing short of a bucolic version of urban living.
And standing back above it all is one of the most unique properties in San Francisco, the Corona Compound. Comprising two independent, stand-alone homes, each offering their own character and style, their combined union on a coveted double lot is an exceptional one-time opportunity to create your own version of city living, a secluded urban sanctuary flying high above the City.
Welcome to the Corona Compound!
SFGate Article -- 09.24.19
by Amy Graff, Staff Writer & Editor
3% CSO With Closing by Thanksgiving!
$50,000 Interior Upgrades Credit for 48 Mars with Closing by Thanksgiving!
$50,000 Garage Addition Credit for 46-48 Mars with Closing by 12/15/19!
See Disclosures for Details!
“By virtue of the fact that this is a Compass Listing, you or any buyer will have access to Compass Bridge Loan Services to purchase this home.”
FEATURES & HIGHLIGHTS
The Corona Compound is a unique opportunity to purchase a rare offering in San Francisco that comprises two unique vacant dwelling units that belie first impressions from the sidewalk below. Each home offers independent access and a multitude of flexible living configurations with a total of 3-4 bedrooms, 2.5 bathrooms, 2 kitchens, 2 living rooms, 2 dining rooms, storage, patios, decks and numerous outdoor spaces with glorious views.
Whether the Compound is used as a main home with a guest house, or a main home with a lavish office/art/yoga studio, or a main home with ancillary long/short-term rental income production, this opportunity can be positioned in so many ways to fit so many different living arrangements that there are few if any other properties in the City that can offer a buyer with so much flexibility, options and choices. Whether you are looking for a home to accommodate a multi-generational family, or a home that can offer intimacy and connectivity while also offering a distinct separation of spaces, or an investment opportunity to lease each property to tenants, the Corona Compound offers the most compelling springboard for your imagination.
While each home reads as independent stand-alone homes, legally they are classified as condominiums with their own separate lots. And as such, a homeowners association exists with CC&R's that allows for separate ownership, meaning that the compound can be sold to two separate buyers looking for their own independent condo-house. As a two-unit vacant condo investment opportunity, the condo classification affords certain exemptions from San Francisco's Rent Control Ordinance.
In addition, while 48 Mars offers quintessential San Francisco style and grace, with old plank doug fir hardwood flooring, period details and paneling, a clinker-brick fireplace, lattice-work window details and sumptuous spaces, 46 Mars stands as a testimony to contemporary modernity, custom design, high-end luxury finishes and the most creative use of space, light and cubic capacity.
Located in the highly desirable neighborhood of Corona Heights, this Compound offers a quiet residential setting with glorious City views from both homes, while also being in close proximity to retail services, public transportation, schools and parks.
The Compound can be purchased together as one, or individually as separate site condos.
Pricing as follows:
- 46-48 Mars: $3,499,000
- 48 Mars: $2,199,000
- 46 Mars: $1,300,000
- 4 Levels
- Open-plan Layout
- 1-2 Bedrooms
- 1 Bathroom
- Living Room
- Dining Room
- Kitchen with Custom Island
- Walk-In Closet with Custom Carousel
- View Decks
- Secure Patio
- Built-in Home-Office
- 4 Levels
- 2 Bedrooms
- 1.5 Bathrooms
- Walk-in Closets
- Living Room with Fireplace
- Family/Dining Room
- Kitchen with eat-in Counter
UPDATES & UPGRADES
The Corona Compound offers numerous updates and upgrades, while also preserving opportunities for future ideas, expansions and remodels. Some of the recent upgrades include:
- Brand new composite shingle roof
- Gourmet kitchen with custom island
- Renovated bathroom featuring Venitan Plaster Walls
- Custom Closet Carousel
- Newly sanded maple floors
- Freshly painted interiors
- Freshly painted exteriors
- New light fixtures
Both 46 and 48 Mars are unique and separate properties with their own assesor parcel numbers (APN's) and are legally defined as condominiums. Together, they comprise the "46-48 Mars Street Homeowner Association". The properties are currenlty owned under a family structure of parents owning one property (48 Mars) and their son owning the other (46 Mars). Under the current ownership of separate legal owners, the properties are governed under the terms of the association, with 46 Mars paying $196.65pm HOA dues per month and 48 Mars paying $284.27 HOA dues per month. The joint sale of these two properties to one buyer with two sellers requires specific Offer Instructions that can be found in the Disclosure Package for interested parties to review.
SQUARE FOOT SOURCES
Per Tax Records and OHP graphic design, the spaces measure as follows:
Total Spaces: 2,778 sqft
Interior Spaces: 2,607sqft
46 Mars: Living Space: 716 sqft; Deck/Patio: 171 sqft. Total: 887 sqft
48 Mars: Living Space: 1,656 sqft; Storage: 235 sqft. Total: 1,891 sqft
Corona Heights is a neighborhood in San Francisco, California, just north of Market Street and Eureka Valley. Corona Heights is often considered part of the Castro and Upper Market areas, perched high above en route to Twin Peaks. The Corona Heights neighborhood stretches between Buena Vista Park and Eureka Valley and is also adjacent to the Cole Valley neighborhood. The streets within Corona Heights were literally cut out of the large hill that once encompassed all of Buena Vista Park and extended all the way down to Market Street.
In the late 1800s, Corona Heights was quarried for brickmaking materials. The infamous Gray brothers had a brick kiln on States Street, where remnants of the brickyard buildings can still be seen. The kiln burned during the 1906 earthquake, causing some people to think a volcano had erupted on Corona Heights. After repairs, quarrying continued. The Gray brothers were seen as "constant law breakers," and were accused of injuring neighbors and damaging property with debris from illegal rock blasting here and in other quarries in San Francisco. In 1914, George Gray was murdered by a former employee who was owed back wages. An unsympathetic jury acquitted the defendant.
All the steep, exposed rock faces and the 'crown' we see today at Corona Heights are the result of quarrying, as are some early names used for this hill: Rocky Mountain, Red Rock, and Rocky Hill. Today, tennis courts, playing fields, and the Randall Museum all occupy large quarried areas. A natural history museum for children, the Randall Museum was the inspiration of Josephine D. Randall, San Francisco's first superintendent of recreation. 'Rocky Hill' was purchased by the city in 1940 and renamed Corona Heights. In 1947, Ms. Randall shepherded a $12 million bond issue for recreation capital projects, including a new junior museum building, which opened in 1951 on Corona Heights.
Because of the quarry, streets had been cut out of the rock for transport vehicle access and from the general quarrying done to the area. This made the location prime real estate for people who began to build their homes on the streets cut into the hill.
Many of the neighborhood homes have views (due to the elevation on the hill), close proximity to underground transportation (MUNI) and are situated just a few blocks from The Castro, local restaurants, and neighborhood hangouts. At the top of the hill, where the quarry used to stand, there is now the Corona Heights Park: a large, open space with panoramic views of the city and the bay. Corona Heights Park also features a fenced-in, maintained dog park.
The Castro District, commonly referenced as The Castro, is a neighborhood in Eureka Valley in San Francisco. The Castro was one of the first gay neighborhoods in the United States. Having transformed from a working-class neighborhood through the 1960s and 1970s, the Castro remains one of the most prominent symbols of lesbian, gay, bisexual, and transgender (LGBT) activism and events in the world. The neighborhood offers numerous cafes, restaurants, bars, retail and grovery strore options to it's surround residents.
Cole Valley borders Golden Gate Park to the north, Haight-Ashbury to the northeast, The Castro to the east and Twin Peaks to the south. Near Kezar Stadium, Cole Valley is the smallest neighborhood in San Francisco. The neighborhood is bordered on the west by Stanyan Street and the Sutro Forest, on the south by Tank Hill, and on the east by Clayton Street. The main commercial strip is condensed into three blocks along Cole Street and part of Carl Street. This strip includes more than a dozen restaurants and cafés.
Saturday, Nov 9th -- 2-4pm
Sunday, Nov 10th -- 2-4pm
Please contact your real estate agent, or if not represented, please contact the List Agent:
Kevin M. Wakelin
Luxury Property Specialist
489131 - 46-48 Mars as SFH Classification
489291 - 46-48 Mars as 2-Unit Classification
489134 - 46 Mars as Condo Classification
489135 - 48 Mars as Condo Classification
NB: All listings pre-approved by SFAR
Please email List Agent for link to DP.
As They Come
Please review specific Offer Instructions in the DP before submitting any offers.
Sellers reserve the right to accept or reject any offer.
Escrow# - 46 Mars:
Escrow# - 48 Mars:
Escrow Opened with:
Senior Escrow Officer
T: (415) 421-9770 | F: (415) 788-4237 | Shoretel: 43261
Old Republic Title
601 California Street, Suite 900 | San Francisco, CA 94108