Billed as the “ultimate urban oasis for the savvy buyer,” the top floor, two-bedroom, two-bath unit #502 at 300 Ivy Street, a LEED Platinum development in the heart of “trendy Hayes Valley,” sold for $1.315 million in September of 2015.

In addition to a “bright and open living area, refined finishes and floor to ceiling windows with southern and Sutro Tower views,” the 938-square-foot unit features a “streamlined chef’s kitchen,” a “stylish main bedroom with a walk-in closet and elegantly appointed ensuite bathroom,” and an oversized deeded storage locker and secured parking for a car and a motorcycle in the building’s garage.

And having returned to the market priced at $1.329 million this past October, a sale at which would have represented net appreciation of just 1 percent over the past five years, the re-sale of 300 Ivy Street #502 has now closed escrow with a contract price of $1.295 million, down 1.5 percent on an apples-to-apples basis from the third quarter of 2015 while the Case-Shiller Index for Bay Area condo values is up 16.0 percent over the same period of time.

8 thoughts on “Apples-to-Apples in the Heart of Hayes Valley”
  1. Short term, we’re still completely in a COVID mindset and thus small spaces requiring elevators are not going to perform well. That logic may last throughout all of 2021.

    Long term, this kind of unit in this kind of building (sub 1200 feet, sub eight story) is the overwhelming majority of what will be built in SF. From an investment/appreciation point of view, it’s hard to imagine such an undifferentiated offering outperforming the market.

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