Listed as “an outstanding investment opportunity” back in August of 2017, unit #10C at 631 Folsom Street (a.k.a. BLU) – a “premium 2 bedroom, 2 bathroom condo with great light and an open floor plan…premium-grade finishes in the modern chef’s kitchen and…spa-like bathrooms,” as well as a deeded parking space in the building’s garage – sold for $1.26 million or roughly $1,195 per square foot that September.
For those running the numbers at home (hopefully, quite literally), the unit’s HOA dues are currently running $930 per month.
And the “great home or investment opportunity” is now returning to the market with a list price of $1.249 million or roughly $1,185 per square foot. If you think you know the market, which was already trending down, prior to these extra challenging times having hit, now’s the time to tell.
Not exactly apples to apples now that the neighboring 633 folsom has added several stories to the office building blocking all of the views of the west side of the building up to the floors below the PH. Regardless of the market, the unit is definitely not the same.
995k in 4 months
Still amazing to me that it’s tacitly allowed under the law to advertise something like this as a “great investment”. If I did that for any other asset some agency would send me an order to cease and desist.
Seller will withdraw the listing and hang on to it.
You’re assuming the seller is still there and can hang on to it, or can rent it out at a rate to make it near worthwhile. Rents are down and listings are up so take away that option. Hanging on to it isn’t looking good.