What’s this — a condominium for sale in Boston’s Back Bay for less than $400,000?
Hard to fathom in today’s real estate market, but it’s true. In a stately brownstone on Commonwealth Avenue, no less.
There’s just one small problem — the unit is a very cozy 175 square feet. At $399,000, that’s $2,280 per square foot, if you do the math.
The pint-sized studio is on the fourth floor of 290 Commonwealth Ave., “a professionally managed elevator building with an elegant lobby and wide common staircase.’’
It features “high ceilings, wood floors, a deep closet with overhead storage, a modern tiled full bath with tub, and a kitchenette with a 4-burner gas range, sink, built-in microwave, and refrigerator,’’ according to the listing on Engel & Völkers’ Boston website.
Described as a “pied-à-terre’’ that would be “perfect for a first-time homebuyer, student, or investor,’’ the condo is across from the Commonwealth Mall and a short walk from Newbury Street, the Prudential Center, the Boston Public Garden, and the MBTA, the listing states.
The unit has been on the market since September. The annual taxes are $3,673, according to the listing.
The brownstone was designed and built in 1890-1891 by architect and building contractor Fred Pope, according to the Back Bay Houses website.
The building has 29 units and a monthly HOA fee of $168.41, which covers the cost of heat, hot water, sewer, master insurance, laundry facilities, elevator, exterior maintenance, landscaping, snow removal, trash removal, and management of the building, according to listing agent Jayne Kramer.
“The building is undergoing a restoration project and just completed re-pointing on the front of the building and they are finishing up work in the back,’’ she said.
Condo owners were charged a special assessment to pay for that work, as well as interior painting and the installation of a keyless entry system. The seller of this unit had a special assessment of $23,075, and approximately $14,000 is still remaining, she said.
“I just sold unit 8, which is the identical size, two floors below, for $425,000, which was the asking price. I then rented it for $2,000 fully furnished,’’ Kramer said. “I also have Unit 24 on the market for $2,000 rent. It is identical to Unit 16 and two floors above.’’
Emily Sweeney can be reached at emily.sweeney@globe.com.