12 Offers On One Property In This Market?

The story for 214 Dorland is not something you’d expect to hear in this market. More than 20 disclosure packages were handed out, an offer date was set (on April Fool’s Day no less), and contrary to what most would think, the offers came streaming in…12 of them to be exact.

214dorland

To counter those that will be quick to jump and say, “The deal hasn’t closed yet,” if this first offer falls out, there are 11 others to fall back on.

Would that mean this two bed, one bath condo in Dolores Park, priced at $629,000 is defying the odds, or starting a new trend? We leave that debate to you, and the powers that be.

[Update: Last sale April 1999 for $745,000 for the entire 2-unit building. The 2-unit building just condo converted this week.]

-214 Dorland, 2bed, 1 bath, $629,000

6 thoughts on “12 Offers On One Property In This Market?”

  1. It’s a two bedroom condo–not TIC–priced at 1 bedroom prices in a hot neighborhood. I don’t care what kind of market we have, it’s obviously going to sell.

    I saw very comparable TICs in this same neighborhood at this price with only one bed a month or two ago. Competitive pricing will sell, but that doesn’t make the market “hot.” Properties are selling in Brentwood too, but it’s at half the amount they sold for two years ago. You could call that “hot” unless you were a seller trying to recoup what you put down/owe.

  2. Looks like the second bedroom is the dining room, just off the kitchen. Guess that’s why it’s described as a “1-2 bedroom” condo. The other bedroom is thru the pocket doors off the livng room, not an unusual feature in these typical SF flats. But calling this a 2 bedroom condo is a bit of a stretch, it’s usually the upstairs units that are truly 2 bedrooms as they get that extra square footage over the front entry. Anyone know the square footage? My guess is around 950 sq ft.

  3. http://www.2065larkin.com
    http://www.1267greenstreet.com

    Agree with you seeking. Sellers and their trusted advisors often “fib” about the number of bedrooms for their property. What a bunch of BS!?! Speak the truth….who are you kidding!?! The dining room attached to the living room is not a bedroom! The office that couldn’t fit a military cot is not a bedroom. See attached links for prime examples. These listings are really 1 bedrooms. I have seen them perosnally. End Rant.

  4. that was my immediate thought – that this was a real 1 bedroom. However, I have seen the dining room next to the kitchen being used as a bedroom – many in rental situations. In inner sunset, many full 5s are used as 3 bedrooms. The issue is does it have a closet? if it does, then it’s a bedroom.

    The more interesting thing here is that getting a duplex, condo convert, and then selling one of the units to pay off the other unit is still a very good strategy.

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