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Why Is This Pac Heights Junior One-Bed Asking Just $699K?

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Real estate in rarefied Pacific Heights is normally among the most expensive in the city, with prices soaring well into the millions and asks per square foot easily topping $1,000. So when a roomy junior one-bedroom condo in a prime Pacific Avenue location popped onto the market asking just $699,000, we took note. The condo is located in one of the area's ornate period buildings and is accessed via a Spanish Mediterranean lobby and a vintage elevator. The unit itself boasts arched doorways, crown molding, a beam ceiling, and bay windows.

The condo is technically a junior one-bed because there are only partitions, not full walls, separating the bedroom from the living room. But at 740 square feet, it has the space of a proper one-bedroom, if not the privacy. There's a big walk-in closet in the sort-of bedroom, in-unit laundry, and an office and eating nook next to the kitchen. HOA dues are just $296 per month. It is also being advertised with parking, although in actuality the space is leased. It has been paid for through the end of the year, so the new owner could get at least a few months of free parking.

The apartment feels spacious and elegant, and also like a genuinely good deal with its sub-$1,000-per-square ask. Of course, it could very easily sell for well above asking, especially given that it last changed hands for $620,000 way back in 2008.

· 2090 Pacific Avenue #206 [Official Site]