Purchased for $1,825,000 in February 2006, the single-family 161 San Pablo Avenue underwent a “grand remodel” and returned to the market in September 2008 asking $2,650,000.
Over the course of the next ten months the property was listed and delisted three more times, the price reduced five times, and it ended up on craigslist as a rental before last being withdrawn from the market in December 2009.
As a plugged-in reader commented last April, “161 San Pablo is a beauty, with great ocean views, but unfortunately outside my price range.” As another added in September, “Stick around…they may start to get flexible on pricing. A Notice of Default was filed on July 24, 2009 for this property.”
Two weeks ago the Saint Francis Wood property was taken back by the bank with a first mortgage balance due of $1,748,904. And two days ago 161 San Pablo Avenue returned to the market asking $1,485,000.
∙ Listing: 161 San Pablo Avenue (4/3.5) – $1,485,000 [MLS]
∙ Can You Be More Specific On The Kind Of Dream? (45 Rosewood Drive) [SocketSite]