The home, located at 1709 Broderick St. in San Francisco's Lower Pacific Heights neighborhood, went on the market in May with a price tag of $4.15 million, and was available for rent in September for $13,950 a month. Franklin scooped up the property this fall, paying around $4 million for the TV home.
"The house came on the market and really, I just thought, I have to buy this house," Franklin told The Hollywood Reporter on Wednesday, revealing that he's planning to redo the home's interior to match the sitcom's set.
"I'm so sentimental about the house. It's great to have the house in our Full House family and be able to preserve it for the fans," he explained. "Seriously, I love owning this house."
First on the order of business, however, was painting the front door, restoring it to the vibrant red featured in the show's opening credits.
"There are probably 250 fans per day that show up and take a picture in front of it," Franklin noted. "It will be a lot more fun for the fans because now the house will look like the Tanners really live there. It's a gift to the fans, but it's also fun for me to own it."
As for what Franklin, a Los Angeles native, plans to do with the property, he said, "It's a shame to let it sit empty."
"I will be renting it out, but I'm not sure yet what, where, when or how," he added. "At some point soon I will figure that out."