Five days ago, 2050 Divisadero #1 hit the market in Pacific Heights priced at $999,000 (or approximately $599/sqft). And while we were planning on profiling the property later this week (as another example of relative value), according to a tipster, it might already be is already in contract (for $1,200,000 or $719/sqft).
∙ Listing: 2050 DIVISADERO ST #1 (3/2) – $999,000 [MLS]
∙ Relative Value From Top To Bottom [SocketSite]
Yikes, even for a place north of California St, that’s a bad comp for the market, even at $1.2. A good deal / good value. And a great strategy if you’re trying to move a place quickly in this market. Or it could be a sign that market expectations are coming back into alignment. Can anyone find the last date of sale, and price for this property?
According to Redfin, original sale price was $585,000 (07/01/1997) and most recent sale was $760,000 (01/16/2002).
“Or it could be a sign that market expectations are coming back into alignment.”
Spot-on. Anybody else see the article in Sunday’s Chronicle about fence-sitters? As I predicted on another thread, the flipper boycott has begun.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/01/14/REGUANHADE1.DTL
Am I the only one who looked at the pictures? That place is tragic. It looks like a Z Gallerie truck jackknifed on the 101 and a bunch of curvy lighting spilled out.
Dark, to boot.
Ugh.
What, you mean you don’t like the way the building next door shields the kitchen from all that blaring San Francisco sunlight?
The problem with the place is that it’s right next to the Lion’s Den, a very popular bar, which makes for late night noise from inebriated customers and screeching cabs.
Nice article ‘Dude’. Sounds like many on this board who’ve been waiting for a long timeand are finally hopeful, even if they are in their 30’s and 40’s. Life is short.
Looks like a good deal for the seller to me. Up $450,000 in 3.5-4yrs is better than a poke in the eye. Now, the seller is going to buy something else, and the process continues.
The place is a little dark, and on a busy corner. [Removed by Editor]
Now, the seller is going to buy something else, and the process continues.
Actually, I was at the open house this weekend and according to the agent the seller is moving out of San Francisco.
I think this is a good comp. I live nearby and Divis is VERY busy. The Lion Pub is fairly noisy in the summer as well. 700+ psf is, I think, great for a mediocre apt in a busy area.
I live right next door in a rented apartment so I have no motivation to say good things or bad things about this neighborhood.
1. I’ve never heard any noise from the Lion’s Den bar.
2. Divisadero is only moderately busy at that point, narrowing from two lanes to one here with no backups.
It’s a great neighborhood, and the building is very nice.
No need to go on and on about how lousy the location is and therefore the price is an anomaly: this is about as nice a location as any in the city. Walking distance to Fillmore and in a very safe part of pac heights. I think it’s just a different market.
And at any market: if you price a place right, it’s going to sell. And if you price a place wrong, it won’t.
This place is quiet and on a very nice street.
I live almost directly across from the Lion Pub, and in the summer it’s VERY noisy around 2am when all the drunk girls pour out into Sacramento St. screaming into their cell phones and clomping around in their heels. That said, I love my home here. I love being this close to Fillmore and the 1. I would absolutely recommend living here, just not on Divis.
any more feedback on this property? I saw it when it was on sale long ago and thought it actually was a good value – even at $1.2M, it was a 3 bed 2 ba in what seemed like a great area. Yes, probably some noise but all the bedrooms were in the back. The fact that it was a FLAT 4 block walk to Fillmore was really nice. Only thing negative was it did seem dark and it was a bottom floor unit.
Any further feedback?
Hey – the unit above this is now for sale.