It’s the Under $700K club, where we salute those home listings that manage to keep their initial list price well under seven figures, especially in this time of excess. Which is getting harder every week, since even with the housing market largely snoozing compared to recent years, the average price a home in San Francisco is still creeping toward $1.4 million.
For some measure of relief, we look to the condo market in neighborhoods like Bayview, Civic Center, and the western branches of SOMA. These listings are on the small side and pack a wallop when you price them out per foot, but the full packages are still below the median price for their neighborhoods, and that’s borderline heroic in this day and age.
Starting at $595,000, the one-bed, one-bath unit at 5800 Third Street might even manage to keep itself under the $700K mark after bidding. Prices have gone up since 2012, when the $75 million, 137-unit development right next to the T-Third Muni line finally finished after years of delay, but there are still occasional vacancies that need filling.
The condo is snappy enough, and at 817 feet it’s the largest of the week’s budget offerings. It last sold in 2012 for $335,000, and this is its first resale. According to Paragon Real Estate, the average Bayview condo sells for $732,000.
Opera Plaza styles itself luxury living on Van Ness avenue, not quite far enough south to be part of Hayes Valley but really not part of the Tenderloin or the Western Addition, either. It’s a weird gray area right near City Hall and, of course, the Opera House, where a one-bed condo just started at $590,000.
The unit looks like a basement in-law, but it’s been here since 1982, just like the rest of the building (and is actually on the third floor, with a view of City Hall). This one hasn’t been vacant for 12 years, when it cost $325,000. (That would be $413,000 today.) The median price of a Western Addition condo is over $900,000.
The smallest and priciest of our Under $700K alums is a SOMA loft on 10th Street that comes out to $1,080 per foot. But since there are only 602 feet to go around, that comes out to $649,000. The 19-foot ceiling isn’t part of those calculations, though, and they do add quite a bit of breathing room to this crimson-hued offering.
Last sold for $432,000 in 2004, which would be almost $550,000 after inflation. The neighborhood median is $935,000.
- Rents Refuse to Fall [Curbed SF]
- 5800 Third Street Delay [Curbed SF]
- 5800 Third Street, Unit 1211 [Redfin]
- Exhaustive Neighborhood Price Map [Curbed SF]
- 601 Van Ness Avenue, Unit 301 [Redfin]
- 385 10th Street, Unit 7 [Redfin]