Perhaps Zephyr’s loss is your gain. 519 Natoma is back on the market with BJ Droubi, and while the location hasn’t changed and it’s still a TIC, the prices on the four units have been reduced from $30K to $70K. We’re fans of the renovation, and if the glamour shots should tempt you, it’s open this Sunday (7/9) from 1-4 pm.
∙ 519 Natoma Overview [BJ Droubi]
∙ Listing: 519 Natoma St #A – $529,000 [MLS]
∙ Listing: 519 Natoma St #B – $539,000 [MLS]
∙ Listing: 519 Natoma St #C – $489,000 [MLS]
∙ Listing: 519 Natoma St #D – $419,000 [MLS]
∙ You Almost Had Us At Hello [SocketSite]
It’s interesting that none of them sold. Could this be an indication that people are becoming afraid of TICs? There is a TIC around the corner from me, 481-485 Noe, where one partner tried to sell and didn’t get any offers. Now all three partners are trying to bail without any luck. Do we know what happens when a TIC goes underwater? What the procedure is if one partner goes into default?
I think at this property it’s also the fact that they’re in an absolutely dreadful area…Natoma right off of 6th St. Honestly, it’s awful.
The outside photo crops off the street !!! — clearly because they don’t want to show the homeless, trash, etc.
Boy, you mean for only 500K I can live right off the street next to junkies and the homeless? Quick — where do I sign up?
Viewed these properties on Sunday and was greatly impressed. I wished the owners do one in a more acceptable neighborhood, for I sure would go for it. Saying that;if you are a pioneer that is part of a gentrefication effort, then be sure to take a look. Once inside, it’s a great little place.