“Extensively remodeled” and expaned in early 2000, the “sophisticated Victorian three-story home” at 2312 Gough (“conveniently located within just two blocks from Lafayette Park”) was listed for $2,580,000 and sold for $3,000,000 that May.
Returned to the market four years later listed for $2,500,000 and likely expecting a similar result, the 3,986 square foot property sold for $2,600,000 with 100 percent financing in July 2004, subsequently refinanced in September 2006 with a $2,630,000 note.
Listed for sale at $2,595,000 this past February but then withdrawn in May, by August the
borrower owner had fallen $76,878 past due and the property returned to the MLS at $2,595,000 in October. In November a notice of trustee sale was filed.
With no open market buyers at its 2004 price nor any bidders at its opening bid of $2,100,000 on the courthouse steps, 2312 Gough was returned to the bank last week.
∙ Apples To Apples To Apples (And 100% Financing) For 2312 Gough [SocketSite]