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May 11, 2009

455 Vallejo Shored Up & Ready to Sell


The latest unit to go on the market over at 455 Vallejo in the North Beach area is #111—a very lovely 1BR/1BA listed at $630,000.

Best known as the building that was perched atop the hill directly affected by the landslide that occurred in February 2007, 455 Vallejo hasn’t been successful on the resale front since the incident. #111 was on the market in late 2008 for about a month at a list price of $649,000, but there were no takers.

Only three other units have been on the market since the landslide, but all were withdrawn. However, the city has completed all the work required to stablize and anchor the hillside, according to the listing agent. So maybe 455 Vallejo is back in business? There are 22 1BR units available now in neighborhoods such as Pacific Heights, Russian Hill, the North Waterfront, Marina, and Cow Hollow for up to $700,000, with an average price of $565,261. We’ll see what the market says.

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