154 ALTA VISTA Way Daly City, CA 94014 – Delusional Sellers
154 ALTA VISTA Way Daly City, CA 94014
Price: $850,000
| Beds: | 4 |
| Baths: | 3 |
| Sq. Ft.: | 1,350 |
| $/Sq. Ft.: | $630 |
| Lot Size: | 8,877 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Traditional |
| Stories: | 2 |
| View: | Bay, Neighborhood, Ocean, City Lights |
| Year Built: | 1964 |
Last sale:
| Jun 24, 2003 | Sold | $600,000 |
So this home isn’t exactly listing for under its last sale price, but its listing history is quite funny. According to Redfin it has been listed at least 8 times since May 24th 2006. That’s right everyone, these sellers have been trying to sell for almost three years. They must have priced it at over a million during 2006 and 2007 because it should have sold fairly easily then. Now they are still going for $850,000, which is 50% above all the comparables. All I can say is good luck.
2109 DUMBARTON Ave East Palo Alto, CA 94303 – Great Investment Property?
2109 DUMBARTON Ave East Palo Alto, CA 94303
Price: $995,000
Last sale:
| Beds: | - |
| Baths: | - |
| Sq. Ft.: | 7,078 |
| $/Sq. Ft.: | $141 |
| Lot Size: | 7,770 Sq. Ft. |
| Year Built: | 1962 |
| Stories: | 2 |
| View: | Neighborhood |
| Neighborhood: | East of U.S. 101 |
Last sale: Aug 01, 2003 Sold $1,000,000
Loss: $5000 or 0.5%
This 9 unit apartment building in East Palo Alto is selling for below its 2003 price. The capitalization rate is almost 8% according to the owner. Unfortunately investment property loans are still pretty expensive now and unless you would need more than $300k for this purchase to be a non-jumbo loan. This could work out for some investor with a lot of cash and experience in property management. The property’s location is not optimal since it is practically on the 101, and it is in East Palo Alto, which has a bad reputation. Recently East Palo Alto has become more gentrified, and perhaps in 20 years or so it would catch up to Palo Alto and Menlo Park? Anyway, this has been on the market for over 4 months, and it could sit longer unless the Feds decide to help out the commercial real estate credit market.
260 CATALINA Ave Pacifica, CA 94044
260 CATALINA Ave Pacifica, CA 94044
Price: $529,900
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,580 |
| $/Sq. Ft.: | $335 |
| Lot Size: | 4,000 Sq. Ft. |
| Age (Years): | 45 |
| Year Built: | 1963 |
| Type: | Detached Single Family |
Last sale: Nov 10, 2003 $557,000
Loss if sold for asking: $27100 or 4.7%
Comments: A loss after 4.5 years doesn’t seem like a very good deal. The house looks decent, though.
528 B St Daly City, CA 94014
528 B St Daly City, CA 94014
Price: $495,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 930 |
| $/Sq. Ft.: | $532 |
| Lot Size: | 3,100 Sq. Ft. |
| Age (Years): | 58 |
| Year Built: | 1950 |
| Type: | Attached Single Family |
Last sale: Sep 16, 2003 $498,000
Loss if sold for asking: $3000 or 0.6%
Comments: This one just got relisted today, but it was listed as Colma a couple weeks ago. Anyway, this one is rolled back to 2003, and the assessed value is $528k. Whoever buys this should ask for a new reassessment.
111 W 3RD Ave #00204 San Mateo, CA 94402
111 W 3RD Ave #00204 San Mateo, CA 94402
Price: $769,000
| Beds: | 2 |
| Baths: | 2 |
| Sq. Ft.: | 1,969 |
| $/Sq. Ft.: | $391 |
| Lot Size: | - |
| Age (Years): | 20 |
| Year Built: | 1988 |
| Type: | Condominium |
Last sale: Apr 07, 2003 $785,000
Loss if sold for asking: $16000 or 2%
Comments: Holy crap, a $660 HOA. That is more than the rent I paid per month when I lived in San Carlos! This is one of those rare listings that has rolled back to 2003.
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