As we wrote last August:
Listed for $3,395,000 a year ago but last asking $2,125,000, it’s a plugged-in tipster that notices 3271 Baker Street is now advertising “rent to own” for $8,995 a month. The advertised rent to own purchase price: $2,300,000.
As we added two weeks later:
As plugged-in reader added at the time, “Renting 3271 Baker Street is VERY risky…there was a Notice of Default filed on the property for $472,867 on May 21, 2009.”
And additional details that have since rolled in: Notice of Trustee set for September 4th and back on the MLS for $1,969,000 ($331,000 under its advertised “rent to own” price and $657 per square foot for the extensively remodeled Marina single-family home).
From Craigslist with respect to 3271 Baker Street at $1,998,000 today:
Currently Leased…Serious Buyers Only Please…Buyer pays all closing costs and transfer tax…Brokers welcome [but] buyer pays commission…House sold “as is” with tenant…PRICE IS NON-NEGOTIABLE. Pls. do not respond if you are not prepared to pay the minimum asking price posted here.
And apparently, “it’s complicated.”
∙ $1998000 / 4br – Beautiful Marina Home next to Palace of Fine Arts [Craigslist]
∙ Paying A Premium To Rent To Own: 3271 Baker Is Back [SocketSite]
∙ Facing Foreclosure 3271 Baker Street Makes A Move In The Marina [SocketSite]
∙ Spanish/Mediterranean Flair From Traditional To Modern: 3271 Baker [SocketSite]
∙ The Mysterious Case Of The Baker Street Trio: 3271, 3212 and 3520 [SocketSite]
∙ Would The Real Top Chef San Francisco House Please Stand Up? [SocketSite]
Maybe they should have added that wording about “serious only” and “non-negotiable” prices last year, when it was listed for just under $4 million. I’m sure that this wording is what was missing. It will definitely work now. And as long as the buyers are paying commissions, why not have it staged too, even with the tenants still in the unit?
Hmmm… I doubt that it will sell at this new price since the new terms of buyer paying commissions and closing cost brings the price well above the last failed asking price.
“Brokers welcome [but] buyer pays commission”
Seems like a good idea to cut down on transaction costs.
Some serious construction/renovations have been taking place next door to this house for a good part of last year. Also, I’m sure the place is feeling the wear and tear from being a rental.
So, the smart money was in renting this place, but never paying rent until the NOD cleared, right?
Also, this place looks straight out of Danville
I actually first discovered socketsite by googling 3271 Baker when it was listed last year for $2.1 million. Didn’t take long to realize this property should not be touched with a 10 foot poll (but have now become hooked on socketsite!)
Paul are you going to weigh in on this or better to leave it alone?
If I recall, Paul listed this at $1.9ish and got it into contract. It’s not a bad house and the remodel work next door is almost complete, but the market hasn’t gotten any better since the last deal fell through and this is essentially a higher ask price.
should sell around $1,875,000.
cmon Paul say something. this property has always seem attractive to me at the right price and it’s just about there. decent sq footage in a great location. clearly a dumb seller who used it as an atm and has been chasing the price down.
i remember the lower level wood floors buckling not long after they were installed and with the dry rot permits always wondered what lurks under than danvillesque remodel. the original edwardian look of the public rooms contrasted to the lower level matrixfillmore look probably turned off a lot of buyers with that unfinished feel. the seller probably not a pleasure to deal with but ripe for someone opportunistic to pick off at the right time. wish i had the money lying around.
anyone know about the tenant?
It’s a good house, in a good neighborhood, in a great location.
Craigslist would not be my weapon of choice to market the property, but it’s complicated…
It looks like the owner’s previous multi-unit building also went back to the bank.
Back on the MLS, $2.385
Wow, this is the house that won’t die. But these guys seem to dodge foreclosure left and right too. Once again, it’s listed by Paul. Does this place still have a tenant, and are they still requesting that the buyer pay commissions?
The new new list price for 3271 Baker Street has just been reduced $50,000 (now asking $2,235,000).
The list price for 3271 Baker Street has been reduced to…$1,895,000.
Good to see the [sellers] starting to get more “serious.” I still wonder if they’ll get this reduced price, since Paul already got it into contract once quite a while ago at 1.9ish according to Eddy.
Do they still want the buyer to pay commission? It’s marked as a known short sale now, and the listing says there’s a tenant paying $7300/mo.
On the plus side, isn’t it a big lot for the Marina at 2900 sqft?
After another 58 days, the listing for 3271 Baker street has once again been withdrawn from the MLS.