Cosmetic fixer--951 Post Street, Alameda, CA
One of several homes that recently appeared on the market for under half a million dollars, 951 Post Street is an average-spec'ed home on a block filled with some of the most depressing, ugly and urban-sprawly post-war houses in all of Alameda.
It also abortedly abuts Otis Drive. There must have been an outlet into Otis at some point, but now the south end of the road is permanently closed off, so living on that godforsaken block gives you all the traffic noise and none of the convenience afforded by its proximity to Otis.
For some inexplicable reason, though, the house at 984 Post sold for $689,000 in early 2007. I toured that house when it was on the market and thought I would need to order a boatload of Prozac from a Canadian pharmacy from the sheer desolation and boredom that oozed from every square inch of sheetrock.
That said, if you're into sober-to-a-fault 1940s squares, this "cosmetic fixer" can be had for a non-jumbo loan (if you have a down payment; but these days if you don't have one you might as well forget about buying; imagine that!) At $374 / sqft it's a decent start, but you'd have to pay me that much to live there.
The sale history suggests somebody is losing money on the transaction no matter what (the 2006 sale looks like a non-arms-length transaction); at least they had the sense to price the property below $500K.
Update 9/5/09: Sold for $395,000 in May, 2009.
3 bedrooms, 1 bathroom, 1,324 sqft, 4,250-sqft lot, MLS(r) #40370111, $495,000This isn't a photo of the house in question, but the whole block looks like this:
Excellent opportunity to be in Alameda community [...] Cosmetic fixer [...]
It also abortedly abuts Otis Drive. There must have been an outlet into Otis at some point, but now the south end of the road is permanently closed off, so living on that godforsaken block gives you all the traffic noise and none of the convenience afforded by its proximity to Otis.For some inexplicable reason, though, the house at 984 Post sold for $689,000 in early 2007. I toured that house when it was on the market and thought I would need to order a boatload of Prozac from a Canadian pharmacy from the sheer desolation and boredom that oozed from every square inch of sheetrock.
That said, if you're into sober-to-a-fault 1940s squares, this "cosmetic fixer" can be had for a non-jumbo loan (if you have a down payment; but these days if you don't have one you might as well forget about buying; imagine that!) At $374 / sqft it's a decent start, but you'd have to pay me that much to live there.
The sale history suggests somebody is losing money on the transaction no matter what (the 2006 sale looks like a non-arms-length transaction); at least they had the sense to price the property below $500K.
Update 9/25/08: It's a short sale. Who would have thought!
Sale History 01/31/2006: $300,000 * 08/05/2004: $545,000 09/13/1999: $265,000 06/14/1995: $195,000 * Transaction not included in Zestimate.
Update 10/13/08: Price dropped to $395,000 (thanks to homeseeker for the tip)$495000 Opportunity in East End (alameda) (map)
Reply to: hous-855262067@craigslist.org [?]
Date: 2008-09-25, 3:53PM PDT
Excellent opportunity in East End. Cosmetic fixer in need of a vision. 3 bedrooms, 1 bathroom, family room, 2 fireplaces 2 car garage. Short Sale Open Sunday September 28, 2-4 For more information call Claudia 339-4729 @Coldwell Banker
Update 9/5/09: Sold for $395,000 in May, 2009.
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