Purchased for $2.500 million in October of 2019, the 2,280-square-foot unit #1 at 2172 Pacific Avenue, a “house-like, two level condominium…located on a premier flat block of Pacific Heights with an incredible walk out private backyard,” retuned to the market priced at $2.895 million three months ago.
One of four units in a classic Queen Anne building, with rounded bay windows “that flood the front living room with natural light,” the three-bedroom unit offers “impressive scale with beautiful period details throughout,” with French doors that open to a private deck overlooking the aforementioned backyard and an attached one-car garage.
And having been reduced to $2.650 million in November, the resale of 2172 Pacific Avenue #1 has now closed escrow with a contract price of $2.400 million, down 4 percent on an apples-to-apples basis, below its 2019 price, while the frequently misreported index for San Francisco condo values is “still up!” 4 percent over the same period of time (but trending down), and some might consider Pacific Heights to be an established San Francisco neighborhood.
Wow that’s a gorgeous home. I’d love to live there. Only drawback I see is that the back of the house faces north and so the backyard would be almost always in shade.
Furthermore, while the backyard may be “exclusive use”, I not convinced that “private” is the best term here, given that (at least) one other unit’s balcony overlooks it.
(BTW, $2.4M with *three* other units in there?)