How much appreciation can you expect five years after buying your TIC interest and condo converting it? In the case of 135 Steiner, apparently almost half a million dollars’ worth! This condo is now being shown by Coldwell Banker, but won’t be listed in the Multiple Listing Service (MLS) for a while. For December sellers, pocket listings are a great way to attract potential buyers without racking up “days on market” in the MLS. If the property doesn’t sell, the sellers will likely bring it on the market next year.
Purchased for $1,250,000 in April 2005 as a TIC in a two-unit building, this 4BR/2.5BA, two-level condo has approximately 3,000 square feet and lots of high-end renovations. The kitchen has 50 hickory cabinets and all the Fisher Paykels, Viking and Wolf appliances you’ll ever need. There’s also a built-in speaker system and two-car parking.
And of course, the location at Steiner and Waller is ideal for the neighborhood, 94 Walk Score and all. List price: $1.7M. (Note: Building has been painted since the above photo was taken–defer to the current Web site photo.)
Give me a call if you’d like to see the property.