Cityfront Terrace is a mid rise building located in the Marina District. This project is unique as it was developed during the prior real estate boom and ended up as rental project for a number of years as the condo market crash at the time made selling the building as condominiums unfeasible.
This particular unit is listed for sale below its prior price sales price from the summer of 2004. The MLS listing is offering an additional $4,500 for closing costs which is not factored into the loss calculation below.
The unit has endured the following price cuts:
Price Reduced: 08/11/06 -- $535,000 to $525,000
Price Reduced: 08/22/06 -- $525,000 to $500,000
Type: Listed on MLS(#066055232)
List Price: $507,500
(Range priced $500,000 to $515,000)
Loss@6% Sales Expenses: $54,950
Purchase Date: 07/21/2004
Holding Period: 29 months and counting...
Square Feet: 975
Purchase Details: view