I took a tour of the new 36-unit development at 299 Valencia in the Mission yesterday. The units are built out, but many aren’t quite finished and construction continues. However, it was easy to get a sense for the space, outlooks and overall potential appeal of the project.
First, the lay of the land: 299 Valencia has one- and two-bedroom condos with a variety of floor plans. The 1BR/1BA units start in the $400,000s and are 475-615 square feet. HOA dues are in the mid $300s per month. The 2BR/1BA homes start in the mid $500,000s and are 630-815 square feet, with HOAs of around $400/month. And the 2BR/2BA units start at $700,000 and are roughly 800-1000 square feet; dues are in the low to mid $400s/month. (For homes with parking and optional storage, HOA dues will be slightly higher than quoted.)
There are nine units per floor, and many have balconies or patios. Living areas are finished with white oak hardwood floors, and kitchens feature stainless-steel appliances and CaesarStone countertops. Here’s a shot of a typical kitchen:
One of my favorite units was #504 ($839,000), which has a view that’s somewhat dominated by The Armory (below):
And I also liked the view from the balcony in #506 ($749,000)—though you have to bear with the parking lot, which always presents the possibility of becoming another condo development in the future (below):
There’s only parking for the 2BR units, and a space is considered optional. For a home without parking, all quoted prices will be reduced by $35,000.
Bottom line on 299 Valencia from my perspective is that the location is convenient (though busy and very urban). In other words, if you’re sensitive to noise and a lot of activity, this may not be the best spot for you. Finishes are nice and floor plans are quite functional. Square footage is on the small side, which is particularly noticeable in the bedroom spaces. And the project won’t win any design awards; the units strike me as being best suited to residents who will spend more time hanging out in the cafe on the next block vs their own living rooms.
This end of Valencia is still somewhat transitional, but there’s certainly plenty of public transportation, restaurants, cafes, bars and shops within walking distance.
There are presently 12 homes in contract, and escrows are expected to start closing as soon as June 6th. Please contact me at email@example.com or 415.823.4656 if you’d like to get in before the masses.