It’s a “lender owned” condominium “in need of renovation” two blocks off of Alta Plaza park in Pacific Heights. And while it appears that 2990 Clay Street #1 last changed hands for $1,061,444 on 6/6/2007 (in the sale to the lender) and prior to that for $1,490,000 on 5/31/2006, it’s now on the market for $699,900.
Granted “[t]he prior owner removed many items” (as those who have been foreclosed upon are prone to do), but unless those items included solid gold fixtures and outlet coverings, something doesn’t quite add up. Perhaps a plugged-in reader can help us out with the math (and the inside scoop).
UPDATE: And a reader comes through: “Okay, I got the scoop – looks like the unit is actually closer to 1k sq feet, even though the tax records show 1500. The additional sq ft and the fact that it “sold” for close to 1.5M is all most likely fraud…Sounds like this place is VERY rough, and 699k isn’t a price they’re hoping to get bidding wars over, but rather is the generous starting price they think they’ll have to come down from….”
∙ Listing: 2990 Clay #1 (2/1) – $699,900 [MLS] [Redfin]