San Francisco 'Painted Lady' bought for $1.85 million now listed for $5.595 million

A neglected Queen Anne Victorian in San Francisco’s Noe Valley has returned to market with a $5.595 million asking price after a couple bought it for $1.85 million in 2022 and rebuilt much of the home from the studs. The restoration, reported by Mansion Global and detailed in the Sotheby’s International Realty listing, turned the century-old property at 551 Alvarado Street into a five-bedroom residence with a separate one-bedroom apartment, while preserving the colourful character that gives it its “Painted Lady” identity.The project is a reminder that restoring an older home is often about far more than fresh paint and new furniture. Behind the cheerful facade, the owners replaced the foundation, added structural steel, rebuilt framing, upgraded electrical service, and reworked plumbing, heating, cooling, roofing, and drainage systems.A Victorian with historyThe house dates to 1900 and sits in Noe Valley, one of San Francisco’s sought-after residential neighbourhoods. Its Queen Anne-style facade includes a classic three-sided bay window, a recessed portico, and decorative frieze bands, features that give the property its period presence even after extensive modern work.The term “Painted Ladies” is often associated with San Francisco’s famous rows of colourful Victorians, but it also refers more broadly to the three-colour paint style used on Victorian houses across the city.