310 Townsend #303
Originally asking $957,000 through the sales office in 2007, 310 Townsend #303 ended up selling for $850,000 in November of that year (a discount of 11.2%). Back on the market today after a two year hold and asking $785,000 (7.6% below it purchase price, 18% under the developer’s original list).
Let’s call it an effective rent of around $4,000 per month for the one-bedroom plus den condo over the past two years not accounting for transaction costs or any capital loss (assuming a sale at asking). Call it closer to $9,200 per month if you do.
∙ Listing: 310 Townsend #303 (1/1) 1,136 sqft – $785,000 [MLS]
310 Townsend: Available And Selling [SocketSite]

12 thoughts on “We Have A 310 Townsend (#303) In Progress”
  1. I really dig the style of the building but this is way too much! Plus the HOA fees make no sense for 0 amenities!
    I’ll try to remember to stop by the open house for S’s and G’s though.

  2. Geez, look at the stretching on that microwave and oven. Ridiculous. That practice should really be outlawed in real estate photos. So annoying.

  3. The listing for 310 Townsend #303 was withdrawn from the MLS without a sale after 74 days on the market.
    Once again, purchased for $850,000 in November 2007 and asking $785,000 when withdrawn.

  4. They were asking $749k at some point recently, then dropped it to ~$725k, once the other large 2/2 unit in the building came on at $749.5k (and it under contract).
    Unit 303 was so overpriced it was ridiculous. Who was going to pay that price for a 1/1, even though it was large and in a convenient location? The price is much more reasonable, although I doubt it sells at $599k

  5. They might as well drop the price even more since it’s a short sale now. They have nothing to lose!
    What’s interesting is that I went to the 1st open house and the realtor mentioned that the owner had “substantial” equity. He must have been referring to the bank.

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