Listed for sale at $5,597,000 in 2007 having been purchased for $1,580,000 in 1999, as plugged-in people know, the single-family home at 755 Marina Boulevard ended up in foreclosure instead (it had been refinanced six times) and finally sold on the courthouse steps for $1,997,500 cash in April 2010.
Public records would suggest the property was flipped to an LLC for $2,600,000 three months later in a private sale or transfer.
Today, the five-bedroom home is back on the market and publicly listed for $3,795,000 without any permits for recent renovations.
∙ Listing: 755 Marina Boulevard (5/5) 4,992 sqft – $3,795,000 [MLS]
∙ The $1,500,000 Half Bath On Marina Boulevard [SocketSite]
I love everything about this place except for the general style, facade, location and interior.
The foreclosed owner was a victim of a scam: http://www.sfweekly.com/2007-05-30/news/take-the-money-and-run/print/
I believe the current Seller was one of the lenders to the scamee.
So, should I be shocked that it’s $2M less than it was in 2007 or that it’s $1M more than it was a year ago?
Anyway, great news story about the Tiburon grifters. Makes one wonder how many Madoffs-to-be are wandering around waiting for prey to fall into their trap. It just reconfirms the saying that if something sounds too good to be true…..
In Escrow
Sold: $3,662,330 -3% change from ask.