Remodeled and rebuilt in 2015, the now 3,190-square-foot home at 300 Sussex Street, which sits on an over-sized Glen Park lot with views, hit the market listed for $3.725 million in April of 2016 and sold for $3.365 million ($1,055 per square foot) that September.
And having returned to the market last month priced at $3.668 million, listed with 5 bedrooms (“one [of which] may be unwarranted”), 3.5 baths and a roomy terrace off the master suite with panoramic views, the re-sale of 300 Sussex has closed escrow with a reported contract price of $3.855 million or roughly $1,208 per square foot, representing total appreciation of 14.6 percent since September of 2016 on an apples-to-apples basis.
Glen Park is booming. $1200 a foot!
It really is. Prices this spring have been incredible.
It’s only a matter of time before the Tesla-driving Nü San Franciscans turn their attention to Miraloma Park, which is just up the hill from GP.
That has already happened. Look at 643 Mangels, for example.
[Editor’s Note: Keep in mind that’s Sunnyside versus Miraloma.]
You’re right.
The southward gentrification continues, no longer a trickle, but an avalanche. Has anyone checked out Ingleside lately? Fixers are going for 1M, cash.
It just depends on the amenities and the lot. What would 300 Sussex go for if it were magically transposed to a great block of Bernal, I wonder.
Depends where in Bernal. But if we’re talking north side with great city views, I could see it selling for the same price. Those parts of Bernal can support $3M @ $1200/sq ft price points now, which is a little nuts.
Bernal home for similar price: 88 Montcalm
That was June of 17, and not as hot of a market. Do you think 88 Montcalm would go for well into the 4Ms now? What if it had a huge lot like this Glen Park one?
Well I guess maybe 18 Prospect will answer that question somewhat. It’ll be an interesting apple to track.
Looks like 18 Prospect traded for 200K more than last time.
Or roughly $1,038 per square foot versus $1,208 per square foot for the home above (or $1,190 for the aforementioned home in Sunnyside).
And speaking of which, A near Record-Setting Sale in Sunnyside, Southwest of Glen Park.
I’m not so sure about Miraloma Park. It has less of a neighborhood feel and is very car-dependent. A nice place but I don’t think the mix of qualities is as strong as Glen Park.
True enough. I get by in Miraloma mostly without driving, but it involves a lot of hoofing uphill with heavy bags. Also, aside from Tower Market, the shopping area stinks. There’s not even a Chinese takeaway. But there are, like, 3 nail shops and a bunch of cleaners. As a result of living here, my cooking skills have vastly improved.
The advantages of Miraloma living are incredible views, proximity to open space, quiet, little crime, and if you drive, you can park in front of your house. The housing stock is also quite nice and the lots are bigger…..at least the older parts.
Miraloma Park – aka pneumonia gulch – has not had the kind of price jumps there has been in Noe and Glen Park. It is and has always been somewhat “hidden” in the midst of the city. A good thing. Cab drivers get lost up here. Miraloma Park definitely has a neighborhood feel and that is why it is a draw for families who can afford to live in the city. Kids – little kids – are everywhere. Views are spectacular – even if one has the “poor man’s view”. Streets are windy, lots of green space with many detached arts and crafts style homes in “old” Miraloma. Lots are large and many new buyers are extending their homes.
There are problems with all the growth in the city. Many homes are rented to several techies with multiple cars and most homeowners have 2/3 cars and do not use the garage. The streets are a parking nightmare. Crime is up a lot as it is across the city. Car break-ins are rampant. Home break-ins are happening now which, when I moved here almost 10 years ago, were unheard of. Shopping is a problem as is the lack of a nice restraint in the Portola shopping strip. Maybe, being hidden as it is, Miraloma Park is not conducive to restaurants and retail. There are three contiguous store fronts near Tower Market that are empty. One for a decade, one for 5 years and one for almost a year. Another factor is the proximity of West Portal which is a huge restaurant draw.
Still, Miraloma Park remains a quiet, overlooked oasis in the middle of the city.
Also this house is sweet right ?