February 13, 2013

Listed For Less Than In 2005 In A Prime North Beach Neighborhood

Purchased for $550,000 in 2005, the one-bedroom condo #301 at 33 Vandewater Street, a Donald McDonald designed development, was listed for sale for $525,000 in early 2011, reduced to $514,500, and then withdrawn from the market having failed to find a buyer.

With a remodeled kitchen, wood burning fireplace and deeded parking, the 618 square foot condo with five skylights has just returned to the market listed for $489,000 "in a prime North Beach neighborhood." If you think you know North Beach, it's time to tell.

∙ Listing: 33 Vandewater Street #302 (1/1) 618 sqft - $489,000 [via Redfin]

First Published: February 13, 2013 10:30 AM

Comments from "Plugged In" Readers

Lots of carpet and you'd better check the condo rules before assuming you can replace it with hardwood -- it's on the top floor and given construction quality circa 1981 the carpet is probably the only soundproofing.

Posted by: around1905 at February 13, 2013 3:41 PM

only $533 HOA :)

Posted by: BDB at February 13, 2013 3:48 PM

This neighborhood and the building in particular would be much more attractive without the public housing complexes around the corner. I know it's a relatively peaceful housing project but when you pay so much per square foot it's a legitimate factor.

Posted by: condoshopper at February 13, 2013 5:12 PM

Clearly the underpricing strategy at work here? Apparently these types of ploys on the part of real estate agents and their clients are still in play - even in today's market.

Posted by: GoodBuyBadTimes at February 13, 2013 6:21 PM

ouch, below the price of 8 years ago! Almost 25% below in real terms. Heck, even the S&P is well above the 2005 pricing after the epic market crash a few years ago, with no annual taxes or 5% sales commission. Rent, don't buy, if you're in this for the financial considerations.

Posted by: anon at February 14, 2013 9:05 AM

Not prime North Beach. Not bad, but not prime. Lots of flies on Vandewater too. They don't seem to go away. The Francisco side of that block would be a noticeable improvement.

Posted by: ts364 at February 14, 2013 10:05 AM

Looks like this one went for ~$550k.

Posted by: PricedOut at February 21, 2013 4:28 PM

Posted by: SocketSite at April 11, 2013 10:00 AM

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