The 134-unit Village at Petrini Place complex at 2001 McAllister and Central experienced a burst of inventory last week, when four condos went on the market almost simultaneously. Those units joined the three that were already on the market. So if you’re a qualified buyer, the sellers at Petrini Place would love you to stop by.
The complex was constructed in 2002, with a grocery store located just around the block and close proximity to Golden Gate Park, restaurants and the Divisadero corridor. The Walk Score for the property is 89 (Very Walkable) and the transit score is 83 (Excellent). Petrini Place suffered a bit over the past couple of years with HOA litigation, but that was settled last year. Throughout most of 2010, most of the six sales had to be completed with cash, as lenders won’t approve of properties with litigation involved.
Seven condos have sold in the building since January 2010, one of which was a short sale and one that was a foreclosure. The building has been submitted for FHA approval, so if all goes well, Petrini Place will be able to expand its reach to FHA buyers.
Here’s the complete lineup of available inventory:
>#135 1BR/1BA $490,000
South-facing corner unit, one-car parking
#238 1BR/1BA 681 sq ft $515,000
Top floor, one-car parking
#237 1BR/1BA 681 sq ft $515,000
Top floor, nice upgrades, tenant occupied, one-car parking
#D150 2BR/2BA $649,000
South-facing unit, private patio, two-car parking
#1262BR/2BA 1018 sq ft $649,000
Inner courtyard location, two-car parking
#3122BR/2BA 1040 sq ft $715,000
Top floor, south facing, two-car parking
#C142 2BR/2.5BA 1373 sq ft $749,000
One of four townhomes in building; corner unit with good light; two-car parking
There’s currently only one other unit in contract, a two-bedroom property that was on the market for 347 days and was last listed at $549,000 (it’s a short sale). A quick check on foreclosure activity in the building yielded no results, which is a good sign. HOA dues for the above units range from $534-$562, and cover water, trash, building/grounds maintenance, insurance and property management.