Where: 12-21 Rosemont Place, San Francisco (Mission Dolores, MLS District 5)
What: Multi-unit, extra-wide parcel building dating from the early 1900s with garage and quiet cul-de-sac setting in the middle of the vibrant Mission Dolores area situated near the gourmet ghettro, tech-shuttle central and the hipster epicenter near Dolores and Duboce Parks with potential to increase density and use bringing it inline with the City’s current goals to increase housing
Type: Multi-unit renovation candidate circa 1909
How Much: List Price: $1,395,000, sold at $1,600,000, financed with California Real Estate Mortgage Broker-found land loan program, 30-day close (+101% of list)
Closed: March 2014
Who Was Kevin’s Client: Sophisticated & Successful San Francisco Developers
Commentary: As soon as I learned about this opportunity on our Vanguard Properties weekly and exclusive advance tour, I knew it was a match for several of my clients. Not only for its charm, character and setting but for its prime location in the heart of the ever-vibrant Mission Dolores area — home to techies, families, foodies and more. I YouTubed the property instantly, sent out bulletins and investigated as much as I could what the sellers really wanted, which was a hassle-free, straightforward offer that would allow them to purchase elsewhere in the City.
We wrote and presented an offer that was compelling, relatable and intelligent. We had a strong deposit, fast timeline and worked with the listing agent to determine what the sellers wanted — which was to not have any hassle with inspections or otherwise. Given the my clients’ makeup and experience, we were fine with waiving that contingency that gave the sellers peace of mind to select us. This goodwill was important too as the listing agent helped us out during a longer-than-expected escrow that entailed us using the services of an established construction mortgage broker who found a program suitable for 1031 exchange monies and that would allow us to take and vest title as the clients needed to. Now I can’t wait to see what my clients will do with the space and property as their reputations do precede them.
In 1886, the site of this building was occupied by a small two-story frame building. In 1894, it was owned by L. Budd Rosenberg. By 1899, the building had been relocated to the other side of the street on land owned by Mrs. Rosenberg, and a new masonry building was erected at the front of the lot. In 1905, a small frame addition was appended to the building . The property was destroyed by the earthquake and fire of 1906, at which time it was owned by Rudolph F. Ohm, a drayman living in the Western Addition.
In 1909, it was again owned by Rosenberg, and would continue to be owned by the family to at least 1946, although they anglicized their name to Rosemont. The present building is actually composed of two buildings: the southern building, now a garage, was built in 1907, and the northern building, now a residence, in 1908. The southern building was erected for Budd Rosenberg for use as a print shop. By 1915, it was converted to a single-family dwelling.
By 1940, it was again reused, and became a garage. The northern building was constructed for use as a printing shop by the Rosenbergs. By 1919, it was converted to residential use. Between 1949 and 1957, it was repartitioned into two apartments. In 1988, the whole property, both buildings was merged into a single dwelling unit with parking. The 1907 City Directory lists John W. Wells, a carpenter residing at 21 Maple Court (Rosemont Pl) Also directory lists L. Budd and Helen P. (printing) residing at 21 Rosemont Place. — The City of San Francisco