It's time for the Under $700K Club (the inflation-adjusted version of our old Under $500K club). Although a million dollars is the new half a million dollars when it comes to buying a home in San Francisco, a small number of listings still dare to open lower.
Normally it's a close shave for any home to come in under the $700K mark these days, but 16 Highland Avenue, a teeny, tiny Bernal Heights studio condo (in the College Hill area, right on the border with Glen Park at San Jose Avenue) has room to spare and then some, listing for a mere $389,000.
Wow, is that even legal? So far this year there have been 86 homes sold in the city for less than that, but almost all of those were BMR sales facilitated by the city.
The unit is only 352 square feet, meaning that this price actually factors out to a princely $1,105 per square foot. (For perspective, a 14,000-square-foot mansion in Tiburon sold for $857 per foot this week; it always pays to buy in bulk.)
It's one of four units in a Victorian that dates to either 1935 (says the seller) or 1915 (says city records). The condo itself is quite unremarkable...but whoever bids on it most likely won't care. The average Bernal Heights condo sells for nearly $1.2 million.