September 27, 2010
A Green Apple To Be Atop 3280 22nd Street (#D)
New construction in 2007 featuring siding from reclaimed olive oil barrels, hardwood floors from reclaimed mine timbers, and bathrooms with Zuma tubs and Duravit sinks, 3280 Mission Street #D was listed for $1,399,000 that July and sold for $1,450,000.
It’s now three years later, the Valencia Streetscape Improvement Project has been completed, and the three-bedroom atop 3280 22nd Street has returned to the market asking $1,550,000.
∙ Listing: 3280 22nd Street #D (3/2) 1,808 sqft - $1,550,000 [MLS]
∙ Going Green In The Mission (3280 22nd St.): Prices/Additional Details [SocketSite]
First Published: September 27, 2010 1:30 PM
Comments from "Plugged In" Readers
Seriously? Section 8 housing on the right? Public laundromat on the left? "Penthouse"? $1.5M? I must have fallen asleep at lunch because this HAS to be a bad dream...
Posted by: jason at September 27, 2010 2:18 PM
This one will be interesting to watch. What it has going for is there's pretty much nothing like it, and the Mission has gotten even more gentrified since the last sale. What it has against it is it's a used condo and 850+ psqft in the Mission.
Posted by: [anon.ed] at September 27, 2010 2:29 PM
1.5 million for "...an experience of ever changing views," including the goings-on of the Casa de la Raza projects below your "penthouse". On the other side, you too can have the pleasure of wading through the hordes of yahoos waiting for tables at Boogaloos every day of the week. Yikes.
Posted by: local_anon at September 27, 2010 2:51 PM
Pay no attention to the comps behind the curtain.
The Great And Powerful Bubble Is Still Inflating!
Delusion is one hell of a drug.
Posted by: justme at September 27, 2010 3:02 PM
This will be interesting to watch if only because it's so pure--and so distinctive--an apple. The aggressive pricing is presumably a "hope" based on the recent sales at Nove (Guerrero @ 22nd) and 736 Valencia.
The location with its amenities and disamenities is pretty much the same as in 2008. The "greening" of Valencia begins north of 19th St., 3 blocks away, and should not affect the price of these units. The 24th St. end of the Valencia corridor is somewhat more appealing now (Beretta, Heart, Arizmendi etc.) than at the time of first sale, but the difference is marginal and not at all unexpected, so should have been reflected in the 2008 price.
For what it's worth, I think the unit is great from the outside and disappointing from the inside--the flipside of Nove. The two levels of living space aren't well integrated (the stairway is awkwardly located and doesn't serve to bring light from the top level to the lower level), and the "views" to the adjoining Section 8 housing are not what I would look for at this price point.
Then again, the location is great, the building is interesting, the living space is comfortable (if not well integrated) and--most important from a market-watcher's perspective--everything is pretty much as it was in 2008 (save for some wear and tear, presumably).
Posted by: observantneighbor at September 27, 2010 3:28 PM
Interesting. There's also a condo for sale of a similar size but with no parking and not modern, on 21st and Valencia listed at $1M. It's on a charming, quiet, tree-lined street of Victorians.
$500k is a pretty big premium to pay for 1 parking spot and modern amenities but a less ideal location. The neighborhood in general is great at 22nd and Valencia, but that specific stretch of street is dismal. It's across from really ugly buildings and city college, right next to public housing and a gross parking garage. Bartlett street at that intersection is pretty dismal. The area is definitely closer to Mission than to Valencia in terms of gentrification.
Will be interesting to see which one sells first.
Posted by: xyz at September 27, 2010 8:15 PM
I think we should all breath, seems like a very cool and unique space, rare in sf.......
Better than another f stucco box, like the beacon or palms in soma.
Anyway, like the location, cannot afford the place so probably will not go look, but seems cool.
Posted by: Jimmy at September 27, 2010 10:06 PM
Oh, I looked at this place in 2007. There was a banner hanging from one of the windows in the apartment building across the street that read "Basta los ricos y sus condominiums."
I think I'd choose to live somewhere a bit less showy if I were buying in the Mission.
Posted by: RenterAgain at September 27, 2010 10:16 PM
That Bartlett intersection is very vibrant. Bartlett between 22nd and 21st is pretty ugly, yes, but the back entrance to the Mission Market is kinda cool. As for gentrifying around there you have the 26th and Valencia development, Nove, 736 Valencia, and all sorts of restaurants within a few blocks ... blocks not previously thought suitable. 20th and Folsom, 21st and Folsom, etc. If you don't think that the gentrifying trend of the central Mission east of Mission makes Valencia feel that much more gentrified then I think you're squarely in the minority of Mission observors and commentators.
All that said, it's still a used condo asking 850+ psqft in the Mission. Tough pricepoint. It feels like it's for one of the people who catch the bus at either 24th and Guerrero or Valencia every morning, only.
Posted by: [anon.ed] at September 28, 2010 9:16 AM
sold for $1.38 (sold for $1.45 in 2007). 5% off...not bad.
Posted by: curmudgeon at April 4, 2011 11:18 AM