Tiny San Francisco Loft Condo On Edge Of Tenderloin Sells For $465,000
SAN FRANCISCO (CBS SF) -- The San Francisco real estate market is causing more jaws to drop, this time with a 411 square foot micro-loft that just sold for $465,000.
According to real estate website SocketSite, the 83 McAllister St. studio located in the Civic Center and Tenderloin districts fetched about $1,690 per square feet for its high ceilings, updated cabinets and a "generous" 136 square foot loft space which overlooks the main living area.
Originally listed for $450,000, with a HOA fee of $307 per month, the top floor condo's only window (besides the skylight) faces a concrete wall. However, the Book Concern Building it's housed in does offer a spacious rooftop garden terrace for the 60 converted loft-style condominium owners to share.
Additionally, it offers 120 more square feet of living space than what's been dubbed as San Francisco's tiniest condo which sold in May for $415,000 in cash -- $116,000 over the asking price. And like both apartments, it's safe to assume the new owners aren't fervent chefs given the kitchen's mini-fridge and two-burner stove.
Zillow says the condo, listed in one of the highest crime areas in the city, was purchased for $391,000 in May 2007 for an appreciation of 19 percent over the past eight years.
