Having been withdrawn from the MLS in August and quietly de-stagged, we missed it when the Inner Mission penthouse unit #504 at 3590 20th and Valencia (a.k.a. the “V20” building) closed escrow with a contract price of $2.239 million or roughly $1,236 per square foot in early October.
But as we had noted when the 3-bedroom unit with balconies, city views, a private roof deck and a dedicated parking spot below was still listed for sale last year, the seller of the condo had purchased the unit for $2.595 million ($1,433 per square foot) in July of 2015.
As such, the October sale represented total depreciation of 13.7 percent for the three-bedroom condo “in [the] coveted Inner Mission” since mid-2015 on an apples-to-apples basis.
At the same time, the adjacent penthouse unit #505 is now on the market and listed as “the ultimate luxury living in the best part of the Mission” for $2.349 million ($1,277 per square foot) having been purchased for $2.595 million ($1,411 per foot) in mid-2015 as well.