Purchased for a million dollars, or roughly $698 per square foot, back in April 2015, the “beautiful new construction residence” unit #6 at 4132 3rd Street, “in one of the hottest neighborhoods in San Francisco,” returned to the market listed for just $1.075 million in February of 2017 and re-sold for $987,500, or roughly $689 per square foot, that April (down 1.2 percent on an apples-to-apples basis).

Featuring “epic finishes,” with “excellent views” and “wonderful outdoor spaces,” yielding a “perfect home for a live and work environment,” the 1,432-square-foot, two-bedroom condo returned to the market priced at $1.195 million early last month.

And having been reduced to “$899,000” two weeks ago, which failed to generate an acceptable “over asking” offer or bidding war, the list price for 4132 3rd Street #6 has just been raised back up to $1,195,000 or roughly $834 per square foot.

If you think you know the market along 3rd Street in Bayview, “near Ritual Coffee and Flora Grubb Gardens,” now’s the time to tell.

11 thoughts on “A Two-Bedroom in One of the Hottest Neighborhoods Returns”
  1. It’s a nice enough apartment. But views….I guess I just wouldn’t want to always see that Motorcycle Accident Lawyer billboard sign all the time.

    1. There will be other billboards over time.
      And w/ all the money being saved, if the buyer doesn’t like what’s there they can always hire it themselves and put up something they like….A Gauguin, A Pollack, a milk ad.

  2. I imagine single family homes in the Bayview will gentrify / be snapped up much faster than condos. You can have your dream home, with a full backyard and lots of sun, with a SFH. It’s your little oasis where you can block out some of the issues of the neighborhood. This type of condo?

  3. That’s a lot of money to be within smelling distance of the sewage treatment plant. It better come with an HVAC system that’s just as “epic” as the finishes.

    [Editor’s Note: Oh Sh*t (which is underway).]

  4. 6-year-old condo in SF? Probably just about the right time for that [exterior insulation and finish system (EIFS)] to disintegrate and need total replacement.

  5. It’s really hard to know where prices for condos are actually at, since almost no-one is buying and it’s unclear whether (slightly) lower prices would make a difference. I say below $1M for this one, based on the many 2Bd/2ba condos available around Dogpatch, Mission Bay, and SOMA, all better locations than this one.

    One interesting condo is 660 Natoma #4 where the seller, after months on the market, held a live auction. Starting far below market with an explicit statement that highest bidder would get it. 2bd/2ba, 1200sqft, roof deck. It sold for 1.17M (down from 1.33M in 2017).

  6. There should be something against having a listing price at which you will not accept an offer at that price, if all standard contingencies are met. Another one is announcing and holding open houses when you’re already in contract only to tell guests that you’re looking for back-up offers only after they have come and proactively asked.

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