To say that 217 9th St. has been offered for sale for a long time might miss the point.
It came to market in February 2012, hoping to strike while last Spring's market was just starting to heat up.
But at $3M, this little 3br/3ba, 1700-odd sq. ft. modern on a half lot did not look like a deal. It began at…
To say that 217 9th St. has been offered for sale for a long time might miss the point.
It came to market in February 2012, hoping to strike while last Spring's market was just starting to heat up.
But at $3M, this little 3br/3ba, 1700-odd sq. ft. modern on a half lot did not look like a deal. It began at $1,701/PSF, much higher than you'd find on The Strand.
The listing limped through Summer last year and only made a big, bold cut when a new agent took over in October.
That cut dropped the asking to $2.500M. Still steep.
Another 6 months passed, but now the little modern city house has closed for $2.250M. Officially, 309 DOM tolled for the property from Feb. 2012 through April this year.
Sure, that sale was 24% off the start price, but what does start price mean?
It's 25% off the last sale price. Now that means something.
Yes, as many people have noted with a figurative smack to the forehead, this 1700 sq. ft. house on an alley overlooking a raucous (if fancy) bar sold new for $3.000M way-back-when, in April 2008.
That simply never made sense, and now the market has shown how out of balance the first deal really was.
Lesson: Buy a fabulous new home downtown, and you might lose $750K if you're not careful.
We still find this house puzzling at any price, but to each his/her own.
In a post last year, for instance, we called it "[p]erhaps the most difficult property in the Sand now," calling it "a very sharp, but not very large, bit of modern/green architecture near downtown..."
We also said, "This one has always surprised us – the choice of location, limited bedrooms, tight space and high price. There are bath 'areas' within a couple bedrooms, rather than actual bathrooms." (See "What Lingers, and Doesn't, Near $3M.")
That, plus the layout upstairs being tight and intruded upon by the hanging fireplace.
We'll say this, though: It's distinctive, it's different, it's steps to everything and there are ocean views. It's no boxy 60s shack, maybe it's the wave of the future for downtown. Just not for $3M, this time.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 18th, 2024 at 6:11pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.