There's a pile of evidence that San Francisco is in the midst of a housing bubble. Demand is super high and inventory is at a historic low. It's not shocking then to occasionally find one bedroom condos being listed and sold for more than one million dollars. That said, we were surprised to find not one, two or three one bedrooms recently listed for more than one million. We found four, and one's asking $2.898M.
[Photography of Millennium unit by Jacob Elliott]
Let's start with the most expensive: a 1,779-square-foot one bedroom at the Millennium. It is, of course, a corner unit. At $1,629 per square, it's hundreds above the already pricey neighborhood sold median of $1,238 for the last 90 days. The unit's undergone an expensive transformation since being sold in late 2010 for $1.9M. The ceiling in the main living area has been lowered so that it can be framed by LED-illuminated soffits. Some of the walls are upholstered, others are covered in smokey mirrors. Everything is custom: custom and built-in floating nightstands, custom kitchen, custom closets, etc. This unit is on the seventh floor and is asking $2.898M. Monthly HOA dues are $2.086 and there's 1-car valet parking.
Up next is the self-described "grande dame" of the Clock Tower lofts in South Park. It's a top floor corner one bedroom/two bathroom unit that clocks in at 1,589 square feet. It's asking $1.395M. It's a one bedroom for $1.395, but it's price per square ($878) is significantly lower than the median sold price per square for the neighborhood in the last 90 days ($1,315). The unit has palladian wood windows, timber beams, high ceilings and hardwood floors. Monthly HOA dues are $643 and there's 1-car parking in the garage.
Next on our list is a 1,115-square-foot one-bedroom with one bathroom in Pacific Heights. Unfortunately only a few amateur photos have been snapped of the property, but we can tell that it's currently finishing up a remodel. It's asking $1.295M. Fun fact: $1.295M does not get you an in-unit laundry area. No, that's part of the building's common area and is coin operated. Monthly HOA dues are $564 and there's 1-car parking in the garage.
And finally, a one bed/one bathroom unit at Onyx in Potrero Hill just came onto the market asking $1.015M. The unit's brand spankin' new and has never been lived in. Its living quarters are tiny at 831 square feet. However, this unit has the largest private terrace that is about the same size of the actual unit. Monthly HOA dues are $370 and there's 1-car parking if you want to shell out $50 extra a month.
· 301 Mission, #702 [Skybox Realty]
· 461 2nd Street, #302 [Pacific Union]
· 1880 Jackson St #105 [Redfin]
· 415 De Haro St #202 [Redfin]
· Mapping the Crazy World of $1M+ One Bedroom Condo Sales [Curbed SF]
· The Median Sold Prices for San Francisco's Neighborhoods [Curbed SF]
· SF Home Prices Surpass 2007 Peak Levels, Hit Record High [Curbed SF]
· More than Two-Thirds of SF Homes Now Sell Over Asking [Curbed SF]
· San Francisco Condo Values Continue to Rise In 2014 [Curbed SF]