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March 25, 2010

Cow Hollow Condos Debut at Scott and Lombard


During my broker tour this week, I visited the new 12-unit condo building at 3190 Scott Street at Lombard that just opened its doors. All the units are two bedrooms/two baths, and range in price from $899,000-$1,149,000. (There is one unit that has 2.5 baths.) All but one unit have some sort of outdoor space, whether it’s a patio overlooking Lombard Street or one that faces the rear of the property.

The floor plans are similar in each unit—one level features a smallish master bedroom and bathroom, and the other level has the living area, kitchen, bedroom and another bath. Here’s a shot of one of the living areas that face the Bay:

And here’s a sample kitchen:

My favorite unit was 310, listed at $1,099,000. The master suite was located on the entrance level, and had an outlook of the nearby buildings. The kitchen/living area and bedroom/bath upstairs had Bay-facing outlooks, and the outdoor space was off the front balcony.

There are one or two below-market-rate units, but given that these are around $900,000, I’m not sure how “BMR” they are.

HOA dues are around $428, and there’s an elevator in the building. One-car parking is included for each unit.

Though the condos offer good space, the biggest drawback is that they’re located pretty much on Lombard. So you get the constant traffic and bustle from multiple lanes of traffic on a primary San Francisco corridor. Within a block radius, you’re surrounded by the Days Inn, Super 8, Presidio Inn, and America’s Best Value Inn, so there won’t be a shortage of accommodations for your guests if you don’t want them holding up in your second bedroom. Granted, once you cross Lombard you’re in the heart of the Chestnut Street retail area. But there will be substantial noise from the Lombard activity for those desiring a quiet place to live.

But if you look at the average sales prices and overall size of the comps, 3190 Scott comes off as being more spacious and is definitely viewed as an upscale building. (A good comp that’s currently in contract is over at 2839 Union, between Baker and Lyon. This is a top floor, 2BR/1.5BA plus sunroom and original kitchen that was listed at $1,079,000 and went into contract within a month.) I think 3190 Scott is a good fit for, say, Marin or downtown commuters who are looking for a good separation of space between bedrooms, as well as luxury finishes and a bit of outdoor space. Contact me if you’re interested in seeing the building. So far, none are in contract yet, so you’ll have your pick.

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