863 Indiana #109 Living
As we wrote in March:

In November 2009 the sale of 863 Indiana #109 closed escrow with a reported contract price of $550,000, the Esprit Park one-bedroom with one and one-half baths had been listed for $615,000. The 861 square foot condo has just been listed for $575,000.

The sale of 863 Indiana #109 closed escrow yesterday with a reported contract price of $570,000. That’s 1 percent under asking but 4 percent over late 2009.
Esprit Park Sprouts A Late 2009 One-Bedroom Apple To Be [SocketSite]

11 thoughts on “A Late 2009 Esprit Park Apple Is Picked (Up)”
  1. I looked at that unit, and liked it quite a bit. But the bedroom is way to small, with a closet far too tiny to be functional. The front yard is cute, but I wouldn’t want to live on street level with direct access to the sidewalk.

  2. And $3400 for a one-bedroom in Dogpatch seems awfully optimistic. I’d be curious to see what this actually goes for.

  3. Being on street level with access to the sidewalk is a desirable feature for many loft owners because they can set up displays and gathering spaces and get traffic without having to rent a place. There really is a big difference between living in a loft because of the space and the style and choosing such a place because of the utility of being able to live and work from the same location. This is a good price point for such a quality unit, though the space is limited. Places like this potentially enable people to avoid having to rent studios or offices on the side.

  4. interesting… $3,400/month is exactly the mortgage for just over $500,000 plus the HOA fees for this unit.
    A funny/delusional way to determining asking rent. A sure recipe for disappointment, too.

  5. If they get the $3,400 rent that will be a better price/rent then has been going around.
    Equivalent to a $2.5M Noe house renting for $15k/month, or a $5M mansion renting for $30k!
    Interesting that the email on the craiglist post is from Vanguard.

  6. The rental ask is high, but I know others renting in the building (2 bed unit) and I think they’re paying almost exactly 4K – it wouldn’t surprise me if this went for somewhere between 3 and 4k.

  7. This is a pretty decent result actually. I’m a little surprised, but then, we’d already seen some declines by 2009.
    I passed Esprit Park on Indiana the other day and saw at least two for sale signs… will be interesting to see what they go for. More apples for the site?

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