1238 Sutter Street 303, San Francisco, CA 94109, San Francisco, 94109 - 1 bed, 1 bath
ACTIVE$329,000
1238 Sutter Street 303, San Francisco, CA 94109
1Bed
1Bath
420Sqft
4,830.8Lot
Year Built
2018
Close
-
List price
$329K
Original List price
-
Price/Sqft
$783
HOA
$541
Days on market
-
Sold On
-
MLS number
424006274
Home ConditionExcellent
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $329.0K(9th), sqft - 420(7th), beds - 1(46th), baths - 1(49th).
First Come First Serve no lottery 1 bedroom Below Market Rate Temporary SFMOHCD Waviers may apply to the following:(BMR) housing opportunity available at 100% Area Median Income (AMI). Maximum income for 1 person = $104,900; 2 = $119,900; 3 = $134,850, etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. Unit is listed on DAHLIA, the SF Housing Portal (https://housing.sfgov.org). Visit https://housing.sfgov.org for application & program info. Fair Housing Opportunity
Price History
Date
Event
Price
01/17/24
Price Change
$329,000
02/21/19
Sold
$341,500
Condition Rating
Excellent
This property was built in 2018, making it only 6 years old, which falls within the 'newly built' criteria. The images confirm a pristine, modern aesthetic throughout. The kitchen features contemporary cabinetry, stainless steel appliances, and sleek countertops. The bathroom is equally modern with stylish tiling, a vessel sink vanity, and updated fixtures. Hardwood floors and recessed lighting are consistent across the unit, indicating high-quality, recent construction with no visible signs of wear or deferred maintenance.
Pros & Cons
Pros
Exceptional Affordability: The list price of $329,000 is significantly below market value for a San Francisco condominium, offering a rare and accessible homeownership opportunity through the Below Market Rate (BMR) program.
Modern Construction: Built in 2018, the unit is relatively new, suggesting contemporary design, finishes, and infrastructure, which typically translates to fewer immediate maintenance concerns.
Prime San Francisco Location: Situated on Sutter Street in San Francisco, the property offers excellent access to urban amenities, public transportation, dining, and cultural attractions.
Simplified Application Process: The 'First Come First Serve no lottery' approach streamlines the purchasing process for eligible buyers, removing a common hurdle associated with BMR housing programs.
Rare Homeownership Opportunity: Provides a unique pathway for income-eligible first-time homebuyers to own property in one of the most expensive and competitive real estate markets in the United States.
Cons
Extensive Buyer Restrictions: The property is subject to strict income limits and a first-time homebuyer requirement, severely narrowing the pool of potential purchasers and complicating the sales process.
Resale Controls and Limited Appreciation: As a BMR unit, it is subject to resale controls, monitoring, and other restrictions, which can significantly limit future market appreciation and owner flexibility.
Compact Living Space: With only 420 square feet, the 1-bedroom unit offers limited living area, which may not be suitable for buyers seeking more spacious accommodations or those planning for future growth.