741 Noe

A tipster directs our attention to the listing for 741 Noe, a two bedroom “Tales-of-the-Cityesque” condo “on Eureka Valley’s famed Liberty Street Stairs” that could “make Armistead Maupin green w/ envy!” It’s part of a two bedroom condo association along with 494 Liberty (which according to our tipster “recently sold for $1,315,000 after being listed at $1,085,000”). Oh, and apparently the two units “were bought as TIC’s on 7/15/2004 for $1,141,500 total.”

And then there’s the last paragraph of the tip: “I’m a homeowner who has owned for quite a while and although I like to see properties appreciate, I would prefer it to be less crazy. I can never never afford to move unless I move out of the city.” Oh, the irony (and only in San Francisco).

UPDATE (9/7): Closed escrow on 8/20/07 for $1,057,000 (6.9% over asking).

∙ Listing: 741 Noe Street (2/1) – $989,000 [MLS]

9 thoughts on “Tales Of San Francisco (On So Many Different Levels)”
  1. Hmmm … bought 7/15/2004, needs to sell, and can’t afford to move anywhere else in SF despite a 1.1+ asking price?
    Sounds like someones 3/27 100% financed mortgage is about to adjust.

  2. Badlydrawnbear,
    Please read the posts more carefully! The tipster in the post is a neighbor who has nothing to do with the sale of this property.

  3. The adjacent stairway gardens have been renovated over the past few years, aided by a donation from SF Beautiful. It’s a true gift to the street!

  4. Mortgage resetting? Is that a serious statement? This seller is looking at potentially doubling their money in 3 years by making a smart investment in a TIC, bypassing the condo lottery, and selling with the benefit of the comp from the other unit. No investment makes money until it is sold and the purchasers of this TIC look to have cashed in.

  5. Remodeled or not, i can’t say i’m a fan of the Home Depot-esque appointments. There’s a slight view of the kitchen from one of the other photos on the listing, and frankly, despite the small flash of stainless steel, i’m not so impressed.

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