250 King #430 Living
As we reported this past August:

Having been “extensively upgraded” with hand milled woodwork, built-ins and flooring since purchased for $841,500 six years ago, the corner Beacon two-bedroom known as 250 King Street #430 is back on the market listed for “$599,000” as a short sale today.

No mention of being pre-approved, but a successful purchase at asking would represent a savings $242,500 versus 2005 (not accounting for the value of the upgrades) and a comp at $448 per square foot.

And yes, the seller is currently in default on a first mortgage for $630,918 being $29,721 past due as of last month. A second for $52,500 also exists.

The sale of 250 King Street #430 closed escrow this week with a reported contract price of $707,000 ($528 per square foot).
Extensively Upgraded And…Then Discounted 29 Percent [SocketSite]

Comments from “Plugged-In” Readers

  1. Posted by YayMissionBay

    At this sale price, it’s a pretty decent buy, but I don’t know that I’d want to pay even that much when parking is an additional monthly cost on top of the HOA. Must . . . have . . . parking included!

  2. Posted by hkhkjhk

    It is funny how this blog never mentions quality of the renovations -only the total cost(and hinted-at-appreciation).
    Units that are of a crappy/underwater/need-to-sell status tend to get “upgrades” that are primarily aesthetic but yet lack value and long-term functionality.
    In other words, don’t buy a place from a flipper or under-water seller as the upgrades are rightfully suspect.

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