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November 16, 2011

Two Hayes Valley Condos Battle It Out

I stopped in at 342 Hayes between Gough and Franklin yesterday on broker tour, to refresh my memory on the two 2BR/2.5BA condos that are both available in the building. 342 Hayes is a 14-unit property that was constructed in 1996 and finds itself in 2011 to be situated in the epicenter of the neighborhood. Many shops and restaurants have popped up over the years, making this property one of the more popular ones.

Which means I’m surprised that the two units currently for sale have been on the market for more than a month. The first, #C,  faces Hayes Street and gets nice southern exposure. It’s about 1013 square feet across two levels, and has two master suites upstairs. Here’s one of them now:

This master suite faces Hayes, so it gets great light. But it will be a little noisy due to the street activity. However, you do have a washer/dryer in the unit, easy access to a large common patio, and deeded one-car parking. The building has an elevator, too. The monthly HOAs are $443, and include insurance, water, garbage and common area maintenance. List price is $750,000. Keep in mind that this unit was last sold in 2008 for $826,000.

Unit #E is at the other end of the building, facing Ivy Street on the north. This unit has the same floor plan, but doesn’t get as much natural light. (But it will be quieter.) #E has a fireplace, which #C doesn’t. Here’s a shot of the living area:

This unit came on the market for $768,000 and just had a price reduction to $728,000. The previous sale here was for $810,000 in 2008, so again, there is a bit of a discount in the current market. HOA dues are $449/month.

Give me a shout if you’d like to see these properties. They’re great for buyers who work downtown and want a straightforward commute—and who would also like a roommate to offset the mortgage. Parents looking to invest in a property for their kids (and who want to use that other master suite when they’re in town) are prime candidates for 342 Hayes.

The Walk Score is 94, taking into consideration the many shops, restaurants and public transportation modes at your doorstep. Hayes Valley continues to be the cultural center of the city, featuring the Symphony, Opera, Ballet and Asian Art Museum only a few blocks away.

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