For a little while, a bank owned
939 Duncan, but now new owners have taken the keys.
As we noted in "Uh-Oh, Duncan" back in April, the 4br/4ba, 3950 sq. ft. home was purchased in Dec. 2005 as a rehab project for
$2.53m.
Almost 2 years later, it was ready for market at a big markup, though it ultimately found only…
For a little while, a bank owned
939 Duncan, but now new owners have taken the keys.
As we noted in "
Uh-Oh, Duncan" back in April, the 4br/4ba, 3950 sq. ft. home was purchased in Dec. 2005 as a rehab project for
$2.53m.
Almost 2 years later, it was ready for market at a big markup, though it ultimately found only renters, no buyers:
- Oct. 2007: Starts at $3.895m
- Feb. 2008: Cut to $3.695m
- April 2010: Offered for $2.040m as an REO
The remodel-turned-REO has now sold for
$2,111,888 – one of those oddball prices you sometimes see with bank transactions.
The sale price is
-$418k/-17% off the pre-remodel acquisition price. Looks like the rehab was essentially donated to the new owners.
Also worth noting – another lender foreclosure sale at
617 6th (5br/5ba, 5725 sq. ft.) that also just closed.
The big Caliterranean with ocean views, home theater, etc., is a speckie that was never properly finished before hitting the market back in early 2008 – not so long after the 939 Duncan remodel.
A long-running (600+ DOM) listing for the almost-complete home crashed in late 2009 when the investors foreclosed.
Launched at $5.995m long ago, 617 6th just sold for
$4.5m (
-$1.495m/-25% from start). The lot was acquired in Feb. 2006 for $2.250m.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of July 21st, 2024 at 10:30am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.