863 Indiana #109 Living
In November 2009 the sale of 863 Indiana #109 closed escrow with a reported contract price of $550,000, the Esprit Park one-bedroom with one and one-half baths had been listed for $615,000. The 861 square foot condo has just been listed for $575,000.
With respect to other Esprit Park “apples” on the tree, 875 Indiana #515 has been listed for 27 days at $950,000 having been purchased for $1,250,000 in November 2008.
And with respect to other Esprit Park news, the sales office is down to two fifth floor two-bedrooms which are now listed from $899,000, not including the 67 units formerly known as Esprit Park North which are now being leased as The Parc Esprit.
∙ Listing: 863 Indiana #109 (1/1.5) 861 sqft – $575,000 [MLS]
∙ Listing: 851 Indiana #503 (2/2) 1,517 sqft – $899,000 [MLS]
Esprit Park Two Years Later, Apples-To-Apples Style [SocketSite]
The Parc Esprit (840 Minnesota): 30 Percent Sold Leased [SocketSite]

Comments from Plugged-In Readers

  1. Posted by badlydrawnbear

    does anybody have any comments on the location.
    The place seems nice enough but it also seems to have the 280 as it’s backyard.
    tough to spend 900k just to listen to cars noise and smell exhaust all day.

  2. This is a decent area. It is somewhat industrial, but a great location for commuters. It is worth taking a look at. Esprit Park is a nice building.

  3. Posted by Samuel

    Correct, most of Dogpatch is zoned for businesses which has its positives and negatives; at night it’s very quiet after the businesses close, parking is easy, and generally crime is less just due to the reduced foot traffic at night. Negative is that this area is still mostly industrial but it’s changing by the day.
    Esprit Park is super convenient for commuters: it’s two blocks to Caltrain and two blocks to Third St rail. I imagine most people are attracted to that building for this reason.
    The only thing that would drive me away from Dog Patch was the Migrant Plant and it’s no longer a problem. I expect the contaminated sites by the water to be cleaned up in due time and nice buildings will be put in place, in other words, I expect eastern Dog Patch to be a continuation of Mission Bay, except without UCSF.
    Also worth mentioning is that the Hell Angels headquarter is about four blocks from Esprit Park. But I’m sure the locals don’t even notice them. I have a friend who likes to get coffee at Piccino Cafe just so he can drool at their bikes.

  4. Posted by joh

    It’s very industrial, and it’s doubtful that the area btwn Esprit Park and Cesar Chavez will ever become more residential due to the eastern neighborhoods plan (south of Mariposa = PDR). Not so bad if you don’t mind the industrial setting and want to live in a quiet and sunny neighborhood.
    As has been mentioned, there’s easy street parking and it’s a great location for south bay and peninsula commuters, whether by car or Caltrain. Pretty easy commute to downtown SF as well.
    As for the noise from 280, you don’t even hear it from most units. From the upper floor corridor on the southern-most units that access some of the 4th floor units, you can definitely hear 280, but once your in the unit, you don’t even notice it. As for the unit in the post, it faces away from 280 so even outside the 280 noise isn’t even a factor.
    With the arrival of the T line, the 3rd St corridor has become more interesting in the area, with more businesses popping up sporadically. The development of Pier 70 should also add to the neighborhood. Regardless, dogpatch dining, drinking, and shopping options will be quickly exhausted, and you’ll find yourself getting in your car or on Muni often enough.
    I used to want to live in the dogpatch, but these days, I’d prefer to live in a more walkable neighborhood.

  5. Posted by dpsf

    I live in the neighborhood and would agree with the comments above.
    It looks like the park across from Esprit gets good use from neighbors with kids and dogs.
    It’s definitely not the center where all the action is but I like the vibe out here and walk around quite a bit. Good mix of people out here and the weather is fantastic.
    The area around 22nd and 3rd is nice for dining and coffee, and 18th and Texas (Potrero Hill) is nearby, but more of a quick ride or hike.
    Does anyone know if the restaurant space at Esprit is still reserved for for A16 or did they call it off?

  6. Posted by curmudgeon

    joh…I wouldn’t say “never” for residential in the PDR. But I agree that that territory is off limits for the time being. As Mission Bay gets completed, and as (hopefully) Pier 70 finally gets underway in the next real estate cycle, I think we’ll probably see a reconsideration of the amount of property reserved for PDR.
    Otherwise i agree with the above. It is a very interesting neighborhood with increasingly good access, and a few walkable neighborhood destinations. Of any neighborhood in SF, I think it’s a great long term hold, given all the things that are going on in the environs. If I didn’t need easy BART access, I would really consider it.

  7. Posted by Jack

    I actually live in the brick Indiana side of Esprit and absolutely love it. I don’t hear the 280. The insulation in the building is great and my electrical bill is $35. I rarely need to turn on the radiant heat. I can crank my music without my neighbors hearing me. I can walk to caltrain in 4 minutes. I didn’t have to deal with purchasing upgrades when I moved in. The place has a great gym and high speed internet included in the HOA. I love being able to walk to Serpentine, Piccinos, Just for You, Hard Knox Cafe, Mr. & Mrs. Miscellaneous and Kitchenette SF. The parking outside is great in the evenings or on the weekend (when the caltrain people aren’t there). I love running down here. I start at Esprit and follow the shoreline up to the ferry building and back. Super easy. Three hospitals are going in on 3rd and Mariposa (completion in 2014) and Salesforce is going in right across from the Ramp. Change is happening ever so slowly, yet this neighborhood is really fun to be in. It really is the only neighborhood in SF where new industry is moving (Mission Bay). I don’t expect pier 70 to change for a while, yet eventually it will happen. Anyways, you get more bang for your buck at Esprit. Its a wonderful project and you should definitely check it out.
    Anyways, I am biased yet couldn’t be happier with my purchase.

  8. Posted by Mark D

    >
    It is not reserved for anybody, so go ahead and make an offer….

  9. Posted by Andy

    I don’t understand all the “apple” references on this site. Can someone please explain?

  10. Posted by tipster

    ^The site has morphed over the years. It started as a site for flippers patting themselves on the back for purchases they made at what later turned out to be the peak of the bubble. The editor would feature new developments, and the people who bought would all talk them up, sort of like what you see a few posts above this one, but more gushing, not that any of them had any intention of living there.
    Then things started turning down and the editor would compare properties: e.g. unit A sold last year for X but unit B, same square footage, is languishing for 0.95X.
    So one of the many people making money off the boom (Realtor, flipper, stager, mortgage broker, etc.) tried to argue that the editor was comparing apples to oranges because the units were different. Thus, they claimed, real estate prices could still be rising even though a different unit was not able to sell for the same price. They would say that the property was an orange, not an apple.
    Then, a unit finally came available that had sold at the peak but was now trying to resell and not getting its former price. The apples to apples comparison was borne. A unit that is basically unchanged from an earlier time is called an apple. As opposed to an orange.

  11. Posted by sfrenegade

    “Thus, they claimed, real estate prices could still be rising even though a different unit was not able to sell for the same price. They would say that the property was an orange, not an apple.”
    If those days on SocketSite were like other housing blogs I’ve read, there was likely a second issue. On other housing blogs, realtors would point out prices going up, ignoring the fact that many houses were remodeled, rebuilt, or greatly expanded. An “apple” also means that there was no such change to the house that would cause an obvious change in value. If you rebuilt a 1000 sqft 2/1 fixer to a 3000 sqft 4 or 5 BR place, of course it would sell for more.

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