1361 Francisco…buh bye!

From a reader who actually sent this a couple days ago, but I haven’t had a chance to post…1361 Francisco, a two bed, one bath condo asking $1,389,000. These things are going fast:

1361francisco.jpg

You should definitely post this example. Here is a nice 1,200sqft lower unit Marina flat in ‘The Marina Gold Box’ area where 1330 Chestnut is (bedrock). Yesterday [September 9th] was the FIRST open house, and it is already in contract! [True indeed]

This unit was very well done, but really not that big at 1,200sqft or there abouts. Fantastic yard, and an unconnected bonus room.

My guess is this place will sell for $1.45 million ultimately. And that is unbelievably incredible given the size of the unit.

This example was after all the August pandemonium about the credit crunch, and fake high interest rates.

Granted it is still in contract and not yet closed escrow, so the deal could (in theory) fall apart, but something for the Marina crowd to chew on nonetheless. And maybe “da bears” (not Ditka’s) can chew on this bone too.

9 thoughts on “1361 Francisco…buh bye!”

  1. The trend use to be mirror over fireplace. TV more functionable now :)

    So this is a follow up to 1330 Chestnut’s $1.55 mil selling price. Interesting to see where it goes. $1.45 sounds right. I will guess $1.46 to win.

  2. Since when did this blog become a sounding board for whatever “leaks” MarinaPrime wants to email?

    [Editor's note: Who's MarinaPrime? Got something to share? Send it. If it is even remotely related to real estate, there is a pretty good chance of getting on the site. Also, this is not the only person to inform me of this property.]

  3. Not everything around the triangle is golden. 10 imperial way — a SFR priced at less than the condos is still on the market after, umm, more than 90 days? Maybe it’s because you can’t put in a garage there no matter how much $$ you want to spend…

  4. According to an elderly neighbor who grew up on Imperial, you can technically put a garage in. (There is an existing curb cut from Greenwich street.) But first you gotta get everybody on the cul de sac to agree to it. You want to talk about a tough sell!

    The place has a settled, warped floor too, and it’s dated. You could grab rooms down though, make it maybe a 2000 sq ft place? It still might be a decent buy at $1.349M the way things are going around area 7. Is a garage really worth THAT much over there? That’s a neighborhood that is very conducive to walking, and the 41 zips you right downtown to work. It’s a little puzzling.

  5. Anon8 – I’ve seen 10 imperial way, i’m not a fan at above $1.2 mil due to the lack of parking. Size is oughly 1,500sqft i think. There is a very rundown neighbor in that little alley that is scaring some buyers away. It looks like a haunted house, or the residence of a deranged person. That said, 10 imperial way is still a house, and if someone can get it for below $1.3 mil in this market, it’s not bad.

    1361 Francisco is not that close to the triangle. I think part of the allure of MGB properties (besides being on bedrock), is that it doesn’t feel closed in from the other neighborhoods. One can easily go to Union St., and Polk St. from here, instead of just go to Chestnut St. Furthermore, one is close to the most scenic park in SF (Fort Mason), near Ghiradelli Square, and the Moscone Recreation Center.

    This property also just go in contract. In essence, this part of The Marina is attracting a ton of demand.

    http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N960695593,-N211002,-N,-A,-N10271462

  6. Heard 1361 Francisco got MULTIPLE back ups as well, all over $1.4 million. Buyers aren’t even given a chance anymore. One open house and in contract the next day. Wow.

  7. BTW, Patrick.net is the most ridiculous blog. Their title is ‘housing crash continues’ since 2003. Prices are up over 40% since 2003, and many of their most militant members have given up. A couple have bought homes.

    I really enjoy looking at nice properties, especially an areas where I’d like to live i.e. PAc Heights, Marina, Cow Hollow, Presidio Heights, and Sea Cliff.

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