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555 Pierce St 328, Albany, California 94706, Albany, 94706 - 2 bed, 2 bath

555 Pierce St 328, Albany, California 94706 home-pic-0
ACTIVE$440,000
555 Pierce St 328, Albany, California 94706
2Beds
2Baths
1,113Sqft
Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Assumable FHA Loan: This property offers an incredible financing opportunity with an existing 2.625% FHA loan that may be assumable by a qualified buyer, providing significantly below-market interest rates and affordable payments.
Top Cons:
Substantial Monthly HOA Fee: The $942.00 monthly association fee is quite high, which could be a significant financial consideration and potential barrier for some prospective buyers, despite the included amenities.

Compared to the nearby listings

Price:$440.0K vs avg $445.0K ($-5,000)46%
Size:1,113 sqft vs avg 1,040 sqft54%
Price/sqft:$395 vs avg $46015%

More Insights

Built in 1977 (48 years old).
Condition: The property, built in 1977, is functional and appears maintained, but key areas like the kitchen and bathrooms show significant signs of being outdated. The kitchen features older appliances (e.g., coil-top stove, older white refrigerator) and basic finishes, suggesting a renovation that is likely 15-30 years old. Bathrooms are similarly dated with basic fixtures and finishes. While there is updated laminate flooring in living areas and bedrooms, the overall condition indicates that the home requires minor updates to align with current standards, fitting the 'Fair' category.
Year Built
1977
Close
-
List price
$440K
Original List price
$475K
Price/Sqft
$395
HOA
$942
Days on market
-
Sold On
-
MLS number
41105434
Home ConditionFair
Features
Good View:
Deck
Pool
Spa
View-

About this home

INCREDIBLE FINANCING OPPORTUNITY! THIS HOME COMES WITH AN EXISTING 2.625% FHA LOAN WITH AN APPROXIMATE BALANCE OF $406,000 THAT MAY BE ASSUMABLE BY A QUALIFIED BUYER. ENJOY ONE OF TODAY'S LOWEST RATES — A RARE CHANCE TO STEP INTO AFFORDABLE PAYMENTS AND MAKE THIS HOME YOURS. Don’t miss this opportunity to act quickly! Prestigious Gateview community—a rare 2-bedroom, 2-bath condo offering the ideal balance of modern luxury, comfort, and convenience. Step out onto your private balcony to unwind with sweeping sunset views across the lush hills—an everyday escape just outside your door. This full-service, resort-style community provides exceptional value, with HOA amenities that include: High-speed internet, cable TV, water & garbage Year-round heated pool, spa, and sauna.State-of-the-art fitness center Private tennis courts.24-hour security and beautifully maintained grounds Ideal for professionals, small families, or downsizers, this prime location is just minutes from Albany’s award-winning schools, Pierce Street Park, Pacific East Mall, BART, and an array of local shops and dining options.

Nearby schools

9/10
Albany Middle School
Public,•6-8•0.7mi
9/10
Albany High School
Public,•9-12•0.8mi
Condition Rating
Fair
The property, built in 1977, is functional and appears maintained, but key areas like the kitchen and bathrooms show significant signs of being outdated. The kitchen features older appliances (e.g., coil-top stove, older white refrigerator) and basic finishes, suggesting a renovation that is likely 15-30 years old. Bathrooms are similarly dated with basic fixtures and finishes. While there is updated laminate flooring in living areas and bedrooms, the overall condition indicates that the home requires minor updates to align with current standards, fitting the 'Fair' category.
Pros & Cons

Pros

Assumable FHA Loan: This property offers an incredible financing opportunity with an existing 2.625% FHA loan that may be assumable by a qualified buyer, providing significantly below-market interest rates and affordable payments.
Comprehensive Resort-Style Amenities: The prestigious Gateview community provides exceptional value with a year-round heated pool, spa, sauna, state-of-the-art fitness center, private tennis courts, and 24-hour security.
Inclusive HOA Dues: The HOA amenities are extensive, covering high-speed internet, cable TV, water, and garbage, which simplifies budgeting and adds considerable value to the monthly fee.
Prime Albany Location: The property boasts a prime location, minutes from Albany’s award-winning schools, Pierce Street Park, Pacific East Mall, BART, and a variety of local shops and dining options.
Private Balcony with Scenic Views: The unit features a private balcony offering sweeping sunset views across lush hills, providing a desirable outdoor space for relaxation and enjoyment.

Cons

Substantial Monthly HOA Fee: The $942.00 monthly association fee is quite high, which could be a significant financial consideration and potential barrier for some prospective buyers, despite the included amenities.
Building Age: Constructed in 1977, the building is older, which may imply potential for aging infrastructure, systems, or the need for future special assessments for major capital improvements not covered by regular HOA dues.
Recent Price Reduction: The property has undergone a price reduction from its original list price of $475,000 to $440,000, which might suggest initial overpricing or a slower market response, potentially raising questions for buyers.

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