Purchased for $1,300,000 in September 2006, according to its latest listing this “AAA location” Pacific Heights two-bedroom condo has been “newly remodeled since” (kitchen, both bathrooms, hardwood floors). And now asking $1,275,000.
UPDATE: A plugged-in reader who toured the property in 2006 wonders if the listing language might be a bit hyperbolic (a notion the permit history appears to support). If so, consider this property a “prime” apple (and anecdote of other things) to be.
UPDATE (5/6): A few interior photos have been added to the listing.
And an update from our aforementioned reader:
It does look like they updated the floors to a different finish and made some subtle changes / updates throughout so I may have been a bit too harsh in my earlier comments. But these are updates / finishing touches, not totally remodeled.
∙ Listing: 2404 Washington (2/2) 1,337 sqft – $1,275,000 [MLS]
I’d like to see the pics of this place now because I was saw the original home when it was on the market in 2006 and it was 100% redone, including the kitchen. This smells like complete marketing BS and bordering on a total lie if there wasn’t substantial work done on that kitchen.
I’m archiving the MLS text here, as I predict it changes:
Finally a great condominium! AAA location! Flat Pacific Heights block,nestled between Fillmore & Webster Street.This is the lower unit,in a 2 unit building,with a walk out deeded patio deck. Unit has been newly remodeled since purchased in 2006-Remodeled Kitchen,both bathrooms and hardwood floors!High ceilings, open living and dining room,excellent entertaining floorplan. 1 car deeded parking,large storage room, washer dryer in unit, 2 gas fireplaces. HURRY! This will not last.
Also, the upper unit sold in 2008 for around $1.4 I think? Regardless, 2404 is about 1350sqft and I think getting ~1000psf is going to be hard, but the unit was nicely done and clean. Very interested in seeing what this one does. I predict this goes for slightly less.
All the permits on the .gov site date from early 2006, and appear to be complete as of April 2006, 5 months before it was purchased.
The latest listing does look like total marketing BS. Anything to snare a sucker – why am I not surprised?
A few Agents out there are like car salesman (a Chrysler salesman at that) and their days are numbered.
Could it be possible the agent did not do his or her homework and took the words from the seller(s) that they remodeled the unit? Is it actually required that an agent do this sort of research to determine or discover truth from a desperate seller? Particularly when the agent is possibly just as desperate in the current environment.
About me – I bought in June 2007 at a crazy premium & have lost a ton of value up to this point. Looking back I like most just knew the market could only go up or flat-line at worse.
It’s all so funny now and makes for great conversation at a party and causes one to spend much less while on vacation 😉
Turns out this agent also sold the 2402 upper unit in 2008. I’ll give anyone the benefit of the doubt but this is looking very questionable given the knowledge of 2402. The upper unit traded at $1.4 and this one sold for $1.3 so you could have technically had the whole place for $2.7M. Hard to know if that is a good price. Considering the 1612 Vallejo SFH that just closed at $679 psf @ $1.875 for a full blown house / garage for 2700 sqft. Crazy times.
Pure hyperbole – the kitchen was remodeled before sale (permit) and the supposed bath remodel probably = new paint and maybe some tile. The only remodeling permit on file is for the kitchen in 2006.
I’m a Realtor. If I was writing an offer on this property, I’d encourage my buyer to ask the seller for all of the building permits as far back as they can be found, any and all invoices and receipts for the work that was done in 2006 and currently, if any. Then the buyer would know when it was done, how it was done, what was done, by who it was done and how much it cost. If recent work was done, there may be a warranty for repairs that would pass to the next owner.
If they couldn’t verify any recent work, we’d ask for a significant price reduction or walk away. There’s always another condo or house.
OMG…it is 1337 sqft…I must have it
Does anyone else find the Washer/Dryer configuration a little awkward here ? It is behind the door to the bathroom. So every time you load or unload one of the machines you have to :
close the bathroom door
load/unload the machine
open the bathroom door
It seems like a pocket door would help the workflow here a lot. Or just hinging the door on the other side.
A thing that I find funny in this and a lot of floor plans is when an area gets labeled as a “room.” The “dining room” and “living room” of this plan are not, in fact, a dining room and a living room, they are flexible useage areas in a large, open space and ought to be labeled as such.
Odd that there is only 1 exterior photo….and no interior photos.
More photos were updated. It does look like they updated the floors to a different finish and made some subtle changes / updates throughout so I may have been a bit too harsh in my earlier comments. But these are updates / finishing touches, not totally remodeled.
It’s odd to me that this place, the upper unit, the house across the street and the house next door have all transacted (or attempted) in such a short period of time. Odd.
Well, I may have questioned some of the language in this one, but I never questioned the “HURRY! This will not last.” part. It’s a good thing too. In Escrow after 4 days.
Consider this my apology!
Maybe it went high, but that place was clearly ‘done’ and had to be by far the nicest thing in that price range. Those interior photos are just superb. Fantastic location. Everything is A+
I actually liked this place back in 2006 and thought about putting in an offer but it was pretty small. But very well designed making up for the small footprint. There have been some astonishing sales in D7 recently. 2 homes on Sac selling basically overnight. 2604 just closed 2% over asking, closed w/in 20 days. And 2608 came on yesterday and is In Escrow today!
2608 was offered below a 2004 price. They probably shopped it as a pocket listing, negotiated the price, and just listed it to record the price.
Looks like 2608 Sacramento sold for $2.675M in 2005 but was just listed for $2.395M. 10% under 2005 price. 15-20% under peak?
2608 had a new kitchen and two new baths. So it was listed for $400K under its 2005 price plus the cost of the remodel.
Drove past 2608 this morning and there were 2 cars also doing a drive by. I think the stock market 40% rally has people feeling frothy again!
Yes, and the 10% NASDAQ rally (after a 40% drop) with 10% unemployment really has people around HERE feeling positively giddy.
http://finance.yahoo.com/echarts?s=^IXIC#symbol=^IXIC;range=1y
“positively giddy”
Well, you are, at least. If you’ve shown one thing on here consistently it is a giddy joy found in the snarky presentation of negative economic news.
2004: Multiple offers.
2005: Multiple offers.
2006: Multiple offers.
2007: Multiple offers.
2008: One offer.
2009: Multiple drive by’s.
The sale of 2404 Washington closed escrow today with what appears to be a “confidential” sales price. Either that or exactly at asking of $1,275,000 (which would be 2% under its 2006 price despite its remodel).