The Art Deco Purple Palace in Corona Heights hit the market asking $1 million more than what they paid for in 2012. Clearly this is a rare gem that will be appreciated for it’s historical beauty. The home at 99 Ord St. is recognized by the Art Deco Society for historical significance. The home has rare architectural features such as barrel ceilings, gothic styled doors, ornate moldings, hand painted beams, stained glass windows and hand crafted hardwood floors. But will a buyer be willing to pay $1 million more after 3 years for a purple palace? Every couple of years this house goes back on the market in search for the perfect owner. The past two owners had their own vision about how to capture the beauty of the home. Will it become yet again another persons creative outlet? Or will this purple palace attract someone who appreciates a rare beauty?
The house was owned by the same family from 1962-2003. The home has one master bedroom on the main level, one master bedroom upstairs and a third bedroom in the in-law unit. The 3 bedroom, 3 bath detached single family house totals 2,850 sq./ft. and sits on a 2,413 sq./ft. lot. In 2003 it was listed for $1,299,000 and sold in the original condition for $1.2 million after being on the market for 31 days.
It came back on the market in June 2005 in the same condition asking $1,465,000 and sold after 42 days for $1,475,000.
Two years later it came back on the market again in the same condition asking $1,485,000 in June 2007. After being on the market for 139 days it sold for $1,450,000.
The next owner invested their time and money to make this loving home their masterpiece. They put in a modern chef’s kitchen with high end appliances, Zebra Wood styled cabinets, black honed granite counters, and eco-friendly cork floor. They added new paint colors throughout the house to give the house more character. A new roof deck was added on the upper level with amazing city and bay views. They lived there for 5 years and it came back on the market in 2012 for $1,595,000. After being on the market for only 7 days it quickly sold for $1,832,099.
99 Ord Street it is back on the market 3 years later asking $2,850,000. They completely changed the look of the house just using paint, new carpet and furnishings. They did a great job combining a modern look with original pieces of the house. The only drawback is the bold color choices that will not appeal to everyone. The question is will the purple palace hurt the price or is this market so hot buyers don’t care? Let us know what you think?!