Apples-To-Apples for a Luxury Unit in the Marina
August 6, 2019
Fitting the profile of a “luxury” unit, the “two-level house-like condominium in the heart of the Marina” at 2330 Francisco Street was purchased for $2.875 million in February of 2017.
The renovated 2,200-square-foot unit features high-end finishes, three bedrooms and two and a half baths (along with two-car parking and “the latest electric charging equipment” in the garage).
And having returned to the market listed for $2.95 million in February of this year, a sale at which would have represented total appreciation of 2.6 percent for the luxury unit over the past two years, and then re-listed for $2.898 million in May, the resale of 2330 Francisco Street has just closed escrow with a contract price of $2.75 million, down 4.3 percent since the first quarter of 2017 on an apples-to-apples, versus “median price,” basis.
Comments from Plugged-In Readers
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So if this “condo” comes with the garage and both stories of the house, and the backyard….what is the “condo” part? You pay HOA fees to yourself?
The property is three levels, not two.
I believe it is your standard one-level two-bedroom “marina style” lower flat, with the rear of the garage added to the unit via an internal stair. It is a condo because the upper-level two-bedroom flat remains as was.
Extremely drab unit that looks like all the others on the market.
Giant flat screen over the fireplace is a true sign of suburban thinking and real tastelessness.
More likely it was the stagers. The screen looks too high for actual viewing.
Pshaw! That’s nothing…
Thanks! I’ve been laughing for two minutes straight now.
Just curious, given the living room size where would you put the TV?
There doesn’t seem to be a good spot for it. Maybe leave it out and make one of the bedrooms a small television viewing/guest room?
Wall opposite the fireplace, probably. Or get rid of the fireplace, which will be used maybe once a year, if ever.
Cue the readers blaming the price drop on subjective design features of the property, and not understanding the concept of “apples to apples” whereas the property had those exact same features when it previously sold for a higher price. Every time, sigh.
It appears to have sold for $2.5 million in 2014.
[Editor’s Note: After which a closet was converted into a powder room (new toilet, sink and plumbing), at the very least.]
Isn’t that weird. 10% over 2014, and they added the half bath in the mean time. Case-Shiller says we’re up 65%.
Lotta bucks to be a downstairs neighbor.