Advertising “7 offers received” three months ago it was sounding a bit like 2004 down in District 9 for #202 at 69 Clementina. And the short sale of this South of Market condo did officially close for “over asking” (at least over the last one).
Then again, while the reported contract price was $441,000 (asking $438,000) the most recent tax assessed value was $565,080. So much for 2004. Well, except for the counter tops.
∙ Multiple Offers (With A Little Different Flavor) In District Nine [SocketSite]
Anyone making an offer on a place and getting told that other offers are coming (or already received) should remember this place.
7 Offers and only $3K (less than 1%) over asking? That tells me that most of the offers were probably UNDER asking.
Never get intimidated by the number of offers.
Not a bad price for a one bedroom, and property values will go up in 10 years if Transbay is built.
C’mon, tipster. What about “Those other 6 buyers are still out there!” That’s one of my favorites.
Anyway, I’m familiar with this place. It’s actually a nice building, which had the misfortune of being built in a viewless cave of an alley. And at $441K, that’s $113K less than this unit sold for in March of ’06. 20% drop in just under 3 years. But at this price it’s pretty close to breakeven vs. renting assuming 20% down and a 5% mortgage. Somebody got a decent deal if rents don’t fall materially.
Maybe it’s just me, but having a curved refrigerator might get a little peevy after awhile.
If you go to the older thread a lot of the discussion is about the fact that the thing in the exterior photo to the left is the elevated highway. That makes this place a little scary to me.
Nabe is very popular with homeless neighbors, the rumble of traffic counterpointed by the rattle of shopping carts.
Generally speaking second floor patios are a major security risk.
The freeway will be removed when Transbay is built. That’s what makes this a very good and forward thinking long term investment. Wish I could snatch it up.
Yes, a great investment for some wise soul. LOL
I’ve driven down Clementina many times and I sure would never want my my wife walking there alone at night. Way too dark, isolated, with an assortment of sketchy characters camping nearby.
The condos may be fine, but I really hate that neighborhood. They would have to pay me to live on that street.
If my memory serves me correctly this unit was lacking a parking spot!