Listed for $7,900,000 last September, the asking price for the fully restored Landmark Burr Mansion at 1772 Vallejo was reduced to $6,995,000 last October and then withdrawn from the MLS (but not the market) this past May.
As a plugged-in tipster notes, 1772 Vallejo is now being advertised as a rental and asking $26,950 a month (hey, between five roommates that’s only $5,390 apiece).
And while $26,950 a month might seem like an eye-popping number, keep in mind that on a purchase price of $6,995,000, and assuming absolutely no vacancy nor maintenance or upkeep, it would translate to a CAP rate of under 4 percent.
∙ Listings: 1772 Vallejo (5/4.5) – $6,995,000 | $26,950/month
∙ Another Ex-Mayor’s Landmark Mansion Coming Soon (1772 Vallejo) [SocketSite]
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Five Eight Move To San Francisco’s Billionaires Row [SocketSite]