Think You Know Bernal? Now’s the Time to Tell
October 16, 2017
Purchased for $1,605,000 in October of 2012 having first sold for $1,375,000 in January of 2011, the contemporary Bernal Heights home at 1755 Alabama Street returned to the market listed for $1,995,000 in mid-2015 and sold for $2,325,000, or roughly $1,107 per square foot, that July, representing annual appreciation of roughly 14 percent from 2012 to 2015 on an apples-to-apples basis.
Keep in mind that while the 2015-era sale was officially 16.5 percent “over asking,” on a price per square foot basis, the 2,100 square foot home had been listed for 16.6 percent below the neighborhood median at the time.
And on Friday, the three-bedroom home at 1755 Alabama returned to the market listed for $2,495,000 or roughly $1,171 per square foot.
If you think you know the market in Bernal Heights, now is the time to tell or forfeit the right to type “I told you so” or whine about “cherry picking” or anecdotes.
Comments from Plugged-In Readers
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This house is like an expensive ping pong ball. The 4th sale in six years blows my mind.
I don’t think anyone really wants to spend that much to live in such a crappy neighborhood. It’s not very walkable.
Why is it such a crappy neighborhood and why is it not walkable?
Overpriced, but this is a great neighborhood–Precita Park, Bernal Hill, 27 Bryant bus straight downtown, Flynn Elementary, Cafe down the hill, 15 minute walk to Cortland, 15 minute walk to 24th Street, views, etc.
Yeah, I’d say price could be tough to achieve for the sellers. And I was under the same impression as you regarding the neighborhood. Just wondering if Stop Driving had a point or was just talking trash. Apparently it was the latter.
It’s quite walkable, and a great neighborhood for dog owners, with Bernal Hill and Precita Park nearby. Uber and Lyft, and tech shuttles, have made this part of Bernal much more convenient for those not driving. And an easy bike ride down Alabama St to the Mission and to downtown (though a bit of an uphill walk with the bike coming home, if no electric assist).
You are less than a mile to about 100 restaurants in the Mission, two blocks from Bernal Park and two blocks from Precita Park, so seems to be pretty great as far as walking. What makes this neighborhood “crappy” to you? My issues with most Bernal houses are the small lots – the backyards always feel too closed in.
definitely not very walkable.
This is not a house for living life, its a “trading house”…
There is nothing unique about this house whatsoever. It looks just like all of the other white boxes going up around town. And the addition of those two giant Pax wardrobes from IKEA is a testament to the lack of closet space in the master bedroom / in general.
Thank you.
layout kinda weird. Why is the kitchen in the middle splitting the living space in two? Also, those kitchen cabinets probably will not stand the test of time. All that said, I do like the backyard a lot.
To say nothing about that giant man eating plant wall paper. What a forested LSD inspiration that is.
Sorry but I think that people are starting to make moronic bets on SFHs. Doesn’t matter if you can afford it or not, the per-square-foot metric is not making sense (on the huge houses) when you start getting $6 and $7 million urban houses on urban lots in places like Noe, Bernal, Castro, DT, etc. The houses are getting bigger than they buyers will ever need or use and using the per-square-foot metric makes the gross purchase price stupid-high. The profit margin for the developer on the last 1,000 square feet is very compelling for the seller, not so much for the buyer. It is really unfortunate that a family cannot buy a 2,000 sf SFH in many neighborhoods in SF. They are all being redeveloped into huge homes with huge price tags.
agreed! it would be great to see more duplexes. 2k square feet per unit is still plenty of space.
All good points…I agree. However, per the listing this house 2,131 square feet.
have we all but forgotten the art of the duplex?
And live like a commoner having to hear the neighbors above or below you? Sheesh.
/s
Side by side, and with a healthy investment in Green Glue.
I’ll guess $2.68 million. Not a bad appreciation. I’ve been truly surprised by the strength of the Bernal market on the southside.
$2.25
$1050psf * 2,100sf = $2,205,000
Just curious. That’s below the $/sf comps on the southside. Are you discounting for the lack of view? Or just the psych issues with a $2.5 price tag in absolute terms? Genuinely interested in your thoughts.
An inferior house slightly up the block is in contract for 2+ million. I think they will get close to their asking price, if not above. The real shame here is for the person who sold in 2011. Definitely would have been a good property to hang on to.
I think it easily sells for right around the list price.
That would just be asking for a giant case of buyers regret. Pro Tip…Don’t buy a trading house at a market top at asking.
Yes, people like to say things like that on here without knowing how long the next buyer will be staying.
Being put up for sale 4 times in 6 years makes me wonder if there is a problem with the house that is not apparent – a crazy neighbor? Nevertheless, I predict it will sell a little above asking… 2.681m (assuming Price is Right rules)
As of this morning, the house is in contract. That was fast.
I checked it out last weekend and thought it was a really nice house. Not sure what people are talking about when they say it’s a crapy location. Dining options on Precita or Cortland have mushroomed in the last years. You are between 2 green spaces and it’s a 5min walk to my shuttle bus stop. Just wish I had the $$$ to make a move. $2.65?
Sold for 2.6. Can I still whine if I’m off by 3%?
Lesson is that Bernal is doing well post 2015, even though city-wide trends may not be as strong. Relatively affordable + 35 mins to PA = Peninsula lite?
UPDATE: Five Percent per Year for a Contemporary Bernal Heights Home