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a Donald McDonald designed development, was listed for sale for $525,000 in early 2011, reduced to $514,500, and then withdrawn from the market having failed to find a buyer.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]
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.
only $533 HOA 🙂
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.
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.
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.
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.
Looks like this one went for ~$550k.
UPDATE: Back To 2005 On An Apples-To-Apples Basis Over In North Beach