Presenting the home that has it all!
This contemporary full flat condo is on the top floor of a two unit building with an open floor plan offering views from every vantage point in the living/dining/kitchen areas. In the back, two large bedrooms enjoy quiet garden outlooks, while a third full bedroom is off the hall. But wait! There's more! How about a roof deck with more views? And a flexible bonus space ready for you to turn into a home office or gym? PLUS a private laundry room, second common area deck, killer storage AND a possible indoor rock-climbing wall off the common area stairwell!
This was a fun sale because I had a cooperative seller-- who agreed with all of our suggestions for property preparation and supported a pricing strategy that offered the home in the mid-800K range.
We went below the $900,000 threshhold on price because we needed to get people out of their cars instead of just driving by. The building's not-so-pretty facade was a challenge, as was the public housing project just up the hill. .632 Missouri is also set high above the street with a daunting run of steps to the building’s front door followed by an interior stairwell with several landings for laundry, storage and an unusual deeded bonus space. I believe it is 54 steps up from curb to apartment.
To get the home ready for sale, we did extensive work to this common area stairway including plantings and artwork. The funny bonus room that was hard to define was staged as a yoga/exercise room, and a neglected common area view- deck was cleared and staged with seating, table and outdoor carpet.
Setting up the stairwell this way led visitors to make “pit stops” on the way up to check out the yoga room, storage closets, laundry and deck. It also allowed them to reach the top floor without being out of breath.
We also made sure to make the climb worth it by prominently featuring the views in our marketing material and fully staging the home so it sparkled. East-facing vistas that eat up water and sky are the first thing you see when you walk through the door and everyone was immediately drawn to the front windows to take it all in and study the sweet classic architecture Potrero’s peaked roof homes sweeping down the South Slope.
When I took the listing, I was confident we would break the $900K mark. The turnout was so stunning, however, that by the time we were getting ready to take offers, I was quietly thinking that offers breaking the $1M were likely.
We received nine offers on our bid date ranging in price from $925,000 to $1,025,000. After establishing that more than one of the top buyers was prepared to go higher, we prepared multiple counters at $1,050,000. At first we were only going to counter the top few offers, but one of the lower bids requested that we come back to them as well, so we went ahead and countered them all. Remarkably, that lower bid countered back at the $1075,000 and beat out the next highest counter-counter by just a few thousand. (Lesson learned? If you counter one, counter them all because you never know how high a buyer might be willing to jump).
To make the deal “stick” and keep the buyer in escrow, we made sure our Disclosure Package revealed absolutely everything that could possibly be wrong with the property. Because it is newer construction, we decided to forego a contractor’s pre-inspection, but we did do a pest inspection and a roof inspection. I also prepared one of the most exhaustive Agent’s Visual Inspection Disclosure I’ve ever done which pointed out everything from warped deck boards, to condensation between some of the double-paned windows, to worn siding in the common area light well.
When the buyer did their inspection, there was little the contractor could find that wasn’t already called out in the disclosures, This made it difficult for the buyer to justify coming back with any requests for credits or repairs. We also had a back-up offer in place to keep the first-place buyer in line. It's harder to negotiate when you know someone else is ready to step up and take your place.
The escrow on this home ran 30 days and the buyer obtained traditional financing. We actually received no all-cash offers. I think rates remain so appealing that smart buyers would rather borrow money and conserve cash.
Want to know more? Just hit that "contact button" down there and get in touch. I'd be delighted to hear from you!
One of the best kept secrets for many years, Potrero Hill was once the blue collar home of shipping docks, storehouses, and the simple shops and bakeries frequented by the families who called it home. The big turnaround came on the heels of the dot-com revolution when many of the warehouses and factories in the area were transitioned into the live-work lofts and offices we know today. Development along Third Street has solidified this area's reputation as an exciting destination, with an unparalleled ease of commute to downtown SF.
Among Potrero Hill's many assets, its sunny weather, fantastic views, and ready access to all highways rank high on the list. A hardy neighborhood, there are a great many early Victorians along its charming streets which remarkably withstood the earthquake of 1906.
Eateries, bars and shops along 18th street are plentiful in options. The classic watering hole Blooms, named for the heroine of Ulysses, offers pool tables, awe-inspiring views, and fantastic people watching. Chez Papa offers the best French Provencal bistro cuisine this side of the Sierra Nevada. And please don't miss Farley's, where an easy-going coffee drinking crowd enjoy daily brews strong enough to cut through any misty morning.
Students and young folks help liven things up just enough thanks to the nearby California College of Art campus, the California Culinary Academy, and local bar The Bottom of the Hill, which hosts an amazing array of music acts not to be missed. You'll find plenty of shopping and grocery options close to 16th and Potrero.
If you've never visited Potrero Hill, get ready to be romanced by this charming hillside respite.
632 Missouri is located on Potrero Hill’s Eastern Slope, and is a five minute walk to the 22nd Street Caltrain Station. Other nearby goodies include shops and restaurants just three blocks away on 20th Street, including the Thinkers Café, Good Life Grocery Store, and the Stazione Coffee and Wine Bar.