Just last year – in April, in fact – someone tried to sell a peculiar house in the Hill Section for less than a million dollars.It didn't work.
Instead, they sold it for almost $1.3m.
Peculiar 612 11th St.
came on the market at $975k and sold for $1.275m
in less than a week. (Presumably due to multiple offers.)
Now, peculiar 612 11th
is back. (Click address for details via Redfin.)
And this time the sellers shouldn't have the problem of managing a bunch of overbids. They're starting at $1.599m
. That's +$324k/+25%
over the closed price from last May.
Why do we keep saying "peculiar?" It's the strange "flag lot." This is a polite way of saying it's the back house on a lot appears to be split in two. The "flagpole" is your driveway access to 11th.
Last year, we rated the home a teardown on grounds that the listing pitched the sale as lot value, as we recall. Now, the 4br/2ba, 1500 sq. ft. home is still dated, but spiffier. Not $324k spiffier, but improved.
We'll grant that this is a fairly quiet street and very close to downtown. But isn't $1,000/PSF pricing supposed to be for premium product?
As our online link to the Beach Reporter's Open House listings
shows, 612 11th
is open Saturday and Sunday, 1-4pm, so take a look for yourself.