The Beacon Beckoned-- and last month I closed on a two-bedroom condo at The Beacon condominiums in South Beach. With 1197 square feet, this home had a corner orientation to the Southeast big windows and hardwood floors. The selling price was $580,000.
Here are some reasons to love The Beacon, and why my clients, a young couple bought there:
1. Convenient Location. Safeway is right downstairs. So is Starbucks. Pizza is across the street. And the location has a 98 WalkScore.
2. Transit Friendly Location. My buyers wanted a building that was walking distance to the CalTrain so she could take public transit to work down the Peninsula. There is also light rail right outside and quick access to the 280 Freeway heading down the Peninsula.
3. Sexy Location. The building is right across the street from AT&T Park and steps to the Embarcadero and the Bay.
4. Safe Location. He spends a good part of time out-of-town and wanted to know she was living in a safe neighborhood where she could walk the dog at night without concern. With nearly 600 units, the complex also has round-the-clock security and front desk staff.
5. Value. The average price per square foot for units at the Beacon for the past six months is $502.
6. Value. When my clients first started looking, they had a large downpayment, but insisted on a price point that allowed them no more than a $2500/month housing cost, including HOAs and property taxes. At first the Beacon was out-of-reach because of its high HOA dues. Since then the prices have dropped considerably, making the monthly payments more than affordable.
7. Value. This building is full of short sales-- a scary proposition for some but those with patience, fortitude, and a belief that our nations toxic loan pool will eventually flush its way out of our economic system can drive exceptional deals.
8. Lots to choose from. Right now there are fourteen homes for sale at The Beacon, from a 618 square foot studio listed for $318,000 to an 1197 square foot two-bedroom listed for $1,025,000 (dream on, my friend).
9. Slick amenities. Big bells and whistles here, including a sleek clubhouse, green belts, lush landscaping, swimming pool, and dog run(!).
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