A plugged-in reader reports on the sale of 3175 California, a two (plus) bedroom, two bath and 1,140 square foot TIC on the border between upper and Lower Pacific Heights:
3175 California Street (Pac Heights, near the JCC) closed today. It has been on the market since the first week of September [when listed for $739,000]. It opened at 699,000 in December with a new agent, and then was reduced to 649,000 in February. Closed [yesterday] for 610,000.
Top floor with leased parking in the building, closed for $535 per square foot.
∙ RandomRumors Via Trulia Voices: Fractional TIC Financing Drying Up? [SocketSite]
∙ 3175 California [Zillow]
17% off list? Not bad, really.
anyone know if it was ellised?
How many units in the bldg total?
[Editor’s Note: Let’s follow the links (but six to answer the question).]
Seems like a TIC group that was established over 5 years ago…. meaning no Ellis problems.
It signed up for and lost the lottery in Feb. So paying a premium for more lottery tickets in the future too
Anybody know how to find out if they applied to the lottery in previous years before 2009?
I’m surprised it went for so much being a TIC and all. However, they might get lucky (really lucky) and win the lottery next time they enter so they’re probably betting on that.
@ alex : I agree. 17% off list is in line with the national average and much BETTER than the SF average, if you are referencing the Case-Shiller indexes (earlier post)
[Editor’s Note: In this case “17% off list” is a relatively meaningless number as it’s more a reflection of pricing rather than how values have changed.]