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.READ MORE: Dungeness Crab May Soon Be Sold Off Boats At San Francisco Fisherman's Wharf
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.READ MORE: Separate Truck Crashes Along Interstate 880 In East Bay Foul Morning Traffic
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.MORE NEWS: California Adds Only 47,400 Jobs In September; Unemployment Rate At 7.5%
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.