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Russian Hill Three Bedroom Is Under $1M, Has Low HOA Dues (So What's the Problem?)

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We're sure you know that Russian Hill is home to some very pricey and exclusive real estate, so we were quite pleased to find this 3-bed, 1-bath, 1,360 square foot condo relisted today. Asking price? $725,000, or $533 per square foot. The neighborhood average is $715 per square. This unit has actually been on and off the market since October of 2011, and we'd love to hear your thoughts on why this place can't seem to score a buyer. A Redfin agent has visited the abode and the only negative feedback was that the "kitchen could use an update," which we're going to have to agree with. Readers, what do you think? Monthly HOA dues are a very low $191 and there's 1-car leased parking for $300.
· 864 Union [Redfin]