On the Chopping Block: Rowan

The latest new development to begin shedding homes in resale offerings priced lower than previous first-time sales: Rowan.

Completed in 2016, Rowan punctuates the northern stretch of Potrero Avenue where commuter access to Highways 101 & 280 is but a stones throw away, and amenities of the Inner Mission and Potrero Hill neighborhoods are nearby. For city-dwelling employees of tech companies on the Peninsula, the location offered convenience as well as value relative to pricer parts of San Francisco. And then, the WFH movement happened…

On the market now for nearly two months, Unit 505 is a 1-bed + den/1bath/649sqft layout listed at $695,000 today. That price reflects a more than $100,000 chop from its original list price of $799,000. This condominium last sold in 2017 when brand new for $797,000.

Other 1-bed home listings in the building this year include, as reported to the SFAR MLS:

› Unit 502 listed at $848,000 – Failed to sell and removed from the market after 196 days

 

› Unit 801 listed at $849,000 – Failed to sell and removed from the market after 53 days

 

› Unit 610 sold off-market for $785,000 [Previously sold in 2017 brand new for $836,912]

Exclusive buyer representation and COVID-compliant private tours available > 415.715.9205 / rowan@vulcca.com

338 Potrero Avenue #505 is listed and marketed by cooperating brokers Compass and Mosaik Real Estate. Listing photos below courtesy of SFAR MLS.