Our Blog

Sold: 520 Natoma, No. 8, San Francisco, CA | MLS 485676

[stack_hero layout=”parallax-thin” image=”13153″ opacity=”60″ height=”80″]
Vanguard Properties

Kevin K. Ho, Esq. + Jonathan B. McNarry

proudly present

520 Natoma Street
Number 8

Centrally Located Updated SOMA Junior 1-Bedroom/Studio with Alexa

now selling.

[/stack_hero]

Marketed By:

Kevin K. Ho, Esq.
Jonathan B. McNarry

MLS No. 485676

Top Producers, Top 21 Vanguard Properties, Top 1% of San Francisco Agents

NOW SELLING: 520 Natoma, Number 8
Bright, Updated and Central

Great value for San Francisco! Starter Home, City Pad, Investment Property

Updated junior 1-bedroom with smart home tech with full-sized kitchen and bathroom and wood floors with tall ceilings. Located on the tree-lined part of Natoma Street, this unit is set in the rear of the building overlooking the common outdoor space of this well-run tenancy-in-common building in San Francisco’s thriving SOMA neighborhood. This unit has full-sized appliances (gas range, dishwasher, and refrigerator) and a breakfast nook area and smart LED dimmers, Amazon echo and Alexa built-in along with speakers and more.. There’s an intercom/remote entry control, upgraded storage area downstairs, common party room and secluded outdoor space with a common laundry area downstairs. The facade is being updated currently, so Number 8’s new owner will have a crisp and inviting home to come home to. 

Offered at:

$379,000

CONTACT US.

Have a question? Want to setup a showing? 

Feel free to call or text us…

Kevin (415) 297-7462

Jonathan (415) 215-4393

WHAT'S A TIC?

It’s not a house, not a condo, nor a co-op but a different way of owning in San Francisco. Read more about them here

BULLET POINTS.

  • Junior 1-bed/studio flat (with separate full-sized kitchen with gas range, new dishwasher, full-sized appliances)
  • Wood floors, tall ceilings, wainscoting
  • Recessed LED lighting with smart home features that can be controlled with Alexa
  • In-ceiling speakers
  • Voice-command dimmers)
  • Large full bathroom with shower over tub 
  • Double-pane windows + screens
  • Freshly repainted using Benjamin Moore paints   
  • Overlooks common outdoor area, intercom entry 
  • Common Rec Room with ping pong/pool, coin-operated shared laundry, bike parking, storage area
  • Professional building finance management  
  • Pre-approved, pre-paid façade + exterior repainting taking place
  • 12-Unit TIC Building with management
  • Monthly dues are ≈ $300 (incl garbage, water, building insurance and reserves) + property tax portion (as based on purchase price)
  • Estimated rental income: $2,700/month
  • Urban Dweller’s Delight: Walk Score = 99, Transit Score = 100, Bike Score = 95

THE OPEN HOUSES.

2:00 p.m. — 4:00 p.m.
Sunday, September 8, 2019

Contact us for more information or for scheduled showings.

THE PHOTOS.

THE LOCATION. LOCATION. LOCATION.

The information contained in this material is deemed to be reliable and accurate but it is unverified. Potential buyers should take all steps necessary to satisfy themselves regarding the information contained herein or any other matter related to the property they see fit. 

Listed: 574 Natoma, No. 102, San Francisco as Listed by Kevin K. Ho, Esq. + Jonathan B. McNarry, Vanguard Properties

[stack_hero_video image=”12399″ opacity=”3″ mpfour=”https://www.kevinandjonathan.com/wp-content/uploads/2018/07/Natoma.mp4″ height=”90″]
Vanguard Properties

Kevin K. Ho, Esq. + Jonathan B. McNarry

proudly present

574 Natoma, No. 102

Surprising Contemporary SOMA Condominium

leased.

[/stack_hero_video]

Marketed By:

Kevin K. Ho, Esq.
Jonathan B. McNarry

MLS No. 473891

Top Producers, Top 21 Vanguard Properties, Top 1% of San Francisco Agents

574 Natoma, No 102, San Francisco
Sunny SOMA Studio with Upgrades, Storage and Deeded Outdoor Living Area

Number 102 is a 2012-built bright and sunny SOMA studio condominium with a large private outdoor living room/patio with a adjustable overhead cover, custom-installed cabinetry with copious amounts of storage, fireplace, full-size kitchen appliances including a Wolf gas cooktop, microwave, full-size dishwasher, solid-surface counter tops with new LED lighting, large bathroom with a new vanity, updated LED lighting throughout and upgraded tile floors.

Easy access to food, shopping and Mid-Market tech corridor. 574 has a 100 Transit Score, 97 Walk Score and 97 Bike Score. Secure intercom entry, common in-building laundry, bike storage and roof terrace. Well-run, 11-unit building, this home is a great investment for an owner-user or investor seeking flexibility in a central and evolving location. Leased, month-month parking around the block at the SOMA Residences available for $300/month.

Early Reactions.

"Wow."

"It’s a great, livable space."

"Cute."

"It's really modern and bright!"

"That closet is so big."

Features.

Studio + 1 bath
376 sqft (as per tax records)
185+ sqft deeded outdoor patio with overhead privacy and shade cover

Well-equipped kitchen with recent Wolf 4-burner gas cooktop, full-size dishwasher, integrated solid-surfaced sink with disposal, stainless steel French-door refrigerator, microwave, new under cabinet lighting, solid surfacing countertops
Large shower-over-tub bathroom with brand-new bath vanity, faucet and lights
Porcelain tile floors
Updated LED ceiling lights
Living room as gas fireplace, storage
Walk Score: 97 — Walker’s Paradise
Transit Score: 100 — World Class
Bike Score: 97 —Biker's Paradise
Circa 2012
APN: 3726/192
Delivered vacant, no rental or eviction control

About the Building.

574 Natoma, No. 102, is a part of an 11-unit building that dates from 2012
There's informal property management
Monthly HOA dues are $356.44 and includes garbage, water, gas, HOA insurance and reserve contributions
There is a ground-floor coin-operated laundry and bike storage; there is a MonkeyBrains internet antenna installed onsite that a new owner could subscribe to

Contact Us.

Have a question? Want to setup a private showing?

Feel free to call or text us…

Kevin (415) 297-7462

Jonathan (415) 215-4393

The Photos.

The Walkthrough.

Where It's At.

The information contained in this material is deemed to be reliable and accurate but it is unverified. Potential buyers should take all steps necessary to satisfy themselves regarding the information contained herein or any other matter related to the property they see fit. 

Commanding Results — Ahead of Schedule. Successful Selling and Better Buying

When I had my first phone conversation with Kevin and Jonathan over a year ago, my gut told me that THIS is the team I want to work with when the time came for me to sell. I didn’t even bother interviewing other agents. They worked with me on both selling and buying transactions and the results below speak from themselves.

In addition, this was all done through the Thanksgiving and Christmas holidays.

  • 6 days: the time from listing my last home to being in contract with a cash offer at 27% over asking
  • 19 days: escrow days for selling my last home
  • 2 days: the time period between closing on my last home and finding a target property to buy
  • 7 days: from the list date to being the winning bid against 18 other bids.

We weren’t the highest bid, nor were we a cash offer, but we were the best presented one.

In this highly competitive real estate environment, this is where Kevin and Jonathan truly excelled in providing guidance and getting all our ducks in a row. Presentation matters!!! 15 days: escrow length for the new home. 8 weeks: from the day I listed my last home for sale to the day I had keys in my hand to my new home (Yes, it only took 8 weeks) If there was one word to describe my experience with Kevin and Jonathan, it’s “smart”. They know the current environment and also helped educate and guide me to getting both buying and selling done.

After selling, I had a lot of fear I wouldn’t be able to find a new home. I’ve heard countless stories and read countless articles of buyers losing out to cash offers and it was discouraging. With their help, we were able to orchestrate a truly competitive non-cash offer. I honestly didn’t think this would all be done before 2018 arrived, and now I’m an extremely happy client.

— Clodel G. 

Seller, Buyer, SOMA and the Excelsior

App and Online Marketing Professional Lead for large retailer in the daytime, amazing home styling and designer at nighttime


Snaps from his SOMA Listing at 18 Boardman. This mixed-use building was listed for $1.6M and sold in just 6 days for $2.038M to an all-cash, non-contingent offer. Clodel had his choice of the multiple offers that came in after we distributed 50 disclosure packages during the 5 days we were on the open market including one that was higher in price but financed and and slightly weaker in terms. We can’t wait to see what he’ll do with his new place in the up and coming Excelsior District.

131 Peru — Sold! Buyer Represented

Congrats to our client Clodel on getting his next home which will be the nicest, gourmet-kitchen house in the area soon enough. We beat out 18 offers and submitted the best and winning offer.

 

There’s 6 Million sqft of UNFINISHED Office Space Already Spoken for in SF 

December 20, 2017 Buy Later, Buy Now, SoMa

In a continuation of what the new tax bill will mean for SF real estate, take a look at this…

…the number of high-octane tech companies looking to gobble up real estate is growing, and the cost of San Francisco’s Class A office space — already the most expensive in the country — is ready to spike again. Rents, which have soared 140 percent since 2010 and are now at an average of $74 a square foot, could go up another 10 percent, breaking the $80-a-square-foot average for the first time.

“The demand for tech has been strong, and it’s only accelerated since midyear,” said Colin Yasukochi, research director at the brokerage CBRE. “There is a good chance that rents will start to go up next year.”

The tech growth comes at a time when city planners are pushing forward with the Central SoMa rezoning, a plan that is expected to generate about 6 million square feet in office development. City planners say the Central SoMa rezoning, seven years in the making and delayed at least a year, will add badly needed tech office space and ease pressure on non-tech tenants, which have been increasingly forced out of the city by rising rents…

Read more here: SF’s tech-space market is ‘on fire’ — and so are the rents

Our Field Trip to 181 Fremont — Luxury in the Sky Under Construction

Landmark in Progress: 181 Fremont Street, San Francisco's SOMA District

Here are a few highlights of our trip to 181 Fremont’s showcase unit and the actual units themselves from this landmark building. It’s pretty amazing. Jonathan, who isn’t easily impressed, was impressed. And from seeing countless properties, new developments like the Lumina, Infinity, Pacific, St. Regis, One Hawthorne, Linea, BlancSF, V20, the Ritz-Carlton Residences, Millennium, and having lived in the then-premier SF property (One Rincon Hill) we can both say that this is really a special property and opportunity.

It’s Mixed Use

First, the development is being done by a noted commercial developer who brought a new, luxury, build-it-better perspective to residential real estate. There are about 30-40 floors of commercial office space, which was just leased by Facebook for some $35M/month, will be kept by the developer.

Next, the residential units take up the top 17 stories of the building with no more than 4 units on each floor all under 9-foot ceilings. The Penthouse level unit is available for a cool $42M. The units all have truly exceptional materials, finishes, fixtures and smart layouts. The views, well, the views are amazing too. The tech and green features are pretty special too: the building is LEED Platinum-certified (a first for a residential and mixed use building) allows for full-pressure water fixtures because 181 Fremont has a massive grey water capture system, the elevators are not only speedy but safe as they were designed with modern threats in mind as they have ’survival’ features like backup generates, reinforced steel elevator shafts and are sealed to prevent smoke from coming in during an emergency. Unlike its notable neighbor, 181 Fremont’s foundation is rooted down to bedrock and the super structure is steel with light and regular concrete floor plates. There’s a big mega-skeleton system that not only makes it resilient for earthquakes but also reduce the number of columns residents see in their units.

The Insides.

Amenities-wise is where 181 soars. There’s sound insulation between the units, between the levels and it is so very quiet in each space. The LED light fixtures are very high-end. The entry doors are so special with piano hinges, rare French hardware and the doors can open extra wide to move that piano you had to have in your place. Apart from that the marble, the museum, top-grade sheetrock, the Miele kitchens, the luxe marble bathrooms, French oak floors, power shades, speakers, brilliant oak divider panels, concealed heating and cooling, LED lights with smart controllers and windows that actually open. There are 55 residences for sale with an additional assortment of 12 accessory units (studios and junior 1-bedrooms) that are available for purchase to anyone who owns one of the 55 units. HOA dues range from $2000/month to $4000/month that cover such things as 24-hour in-staffed concierge desk, earthquake insurance, a rich amenities level, valet parking (an additional $500/mo fee).

From a separate ground-floor lobby, 7th-floor entryway to the 4-block long urban park over the new Transbay Terminal and the fact that amenities level is a sky lobby on the 52nd floor (there’s a numbering difference because of the commercial floors’ ceiling heights), the building departs from other luxe developments San Francisco has seen thus far. 181 really raises the bar. All units come with parking (even the accessory ones) that are valet (stacker units), and once the building is done, owners can sell the accessory units separately if they wish.

Buying Here… 

The first escrows and move-ins are scheduled for March and will run until summer 2018. Of the units they have left, we liked the C and D variants (no two plans are alike because the building tapers towards the top and the mega structure varies as it goes up the building) the most. The views are more interesting and the buildings in the sight lines are pretty much set while the skyline towards the east (toward the Bay Bridge) is still growing with the most notable example being the current bus terminal. The best units that balance price, views, amenities and dues are, in our opinion, range from the $3.2M range to the $4.25M range for 2 beds, 2 baths from about 1600-1800 sqft; 3-bedroom units go in the $4M-$5M. Because we used to work with one of the sales reps we’d like to say we have a bit of an in at the property!

Ask us to learn more. 

From the Showroom Unit

From the Hard Hat Tour

The Video

Listed and Sold in 6 Days: 18-22 Boardman Place from Kevin Ho and Jonathan McNarry, Vanguard Properties MLS 464719

October 24, 2017 Buy Now, investment potential, SoMa
[stack_hero_video image=”11628″ opacity=”3″ height=”100″ mpfour=”https://www.kevinandjonathan.com/wp-content/uploads/2017/11/18boardman.mp4″]
Vanguard Properties

Kevin K. Ho, Esq. + Jonathan B. McNarry

proudly present

18–22 BOARDMAN

SOMA Mixed Use.

sold in just 6 days.

[/stack_hero_video]

Marketed By:

Kevin K. Ho, Esq.
Jonathan B. McNarry

MLS No.  464719

Top Producers, Top 21 Vanguard Properties, Top 1-2% of San Francisco Agents

LISTED AND SOLD: 18–22 Boardman Place, San Francisco
SOMA Mixed-Use Building

18-22 Boardman is a fully detached, high-income, mixed-use building with 2 residential flats, a popular ground-floor sandwich shop + secure 3-4 car parking located on a quiet one-way side-street near SOMA’s tech hub. With major updates in 2007, the building has many luxe finishes and attractive features including en-suite bathrooms, full-sized in-unit laundry for each flat, chef’s kitchens with islands + stainless appliances, gas fireplaces, video intercom. An immaculate, stylish, top-floor, 2-bed, 2-bath unit will be delivered vacant. Res. tenants fr. 2013, sandwich shop fr. 2014, which is only open 10-5 weekdays. Perfect for an owner-occupier who wants $6,600+ in monthly income or investor looking for a high cap rate trophy property.

Offered at:

$1,600,000

SOLD (with multiple offers including one financed offer over the sale price):

$2,038,000

Unit Features

No. 22

  • Upgraded master en suite bathroom 
  • Wolf, 4-burner gas stove/oven
  • Kobe stainless steel hood 
  • Buddy Rose concrete island 
  • KitchenAid stainless steel French-door refrigerator/freezer
  • Bosch dishwasher, InSinkerator garbage disposal, 27-in wide sink
  • Quartz countertops, upgraded tile backsplash
  • Remote-control gas fire place
  • New LED lighting
  • Full-Size in-unit laundry
  • Wood floors 
  • Designer paints and colors 

 

Unit Features

No. 20

  • En suite bathroom 
  • Bertazzoni, 4-burner gas stove/oven
  • Kobe stainless steel hood 
  • Buddy Rose concrete island 
  • DCS stainless steel French-door refrigerator/freezer
  • Bosch dishwasher, garbage disposal, 27-in wide sink
  • Quartz countertops, upgraded tile backsplash
  • Remote-control gas fire place
  • Halogen Track lighting
  • Full-Size in-unit laundry
  • Wood floors 

CONTACT US.

Have a question? Want to setup a showing? 

Feel free to call or text us…

Kevin (415) 297-7462

Jonathan (415) 215-4393

BULLET POINTS.

Address18–22 Boardman Place
NeighborhoodSouth of Market (SOMA)
Number of Units3 (2 residential, 1 commercial)
Building AreaNo. 18: 650 sqft
No. 20: 1,039 sqft
No. 22: 1,122 sqft
Total: 2,811 sqft (per appraisal)
3,016 sqft (tax records)
Parking3-4, outdoor, secure
LaundryFull-size, stacked washer + dryer in each residential unit
Parcel Number3779/074
Year Built1923
ZoningNon-conforming, legal SALI
Parcel Size26.667 ft x 76.5 ft (2,039 sqft)
Historic Category"C" None

The Photos.

THE LOCATION. LOCATION. LOCATION.

The Numbers + Projections.

UnitConfigurationCurrent RentMarket RateInformation
18Ground-floor commercial, food prep, storage, bathroom$2,500/mo$2,500Move-In: Mar. 1, 2014
Term: 5 years
Option: 1 5-year at then-current market rate rent
202nd-floor, 2-bed, 2-bath + den$4,140/mo$4,417/mo*Move-In: Jul. 26, 2013
Tenants pay PG&E, Internet/cable
22Top-floor, 2-bed, 2-bath + denN/A$4,750
MiscParking Space$100$600$200/space

Gross Revenues

$6,740/mo
$80,880/yr
$12,267/mo
$147,204/yr
*Banked rent increase estimate available in August 2018
CurrentProjected*
Gross Income
$79,680$147,204
Expenses
Property Taxes
$18,508$18,757
Insurance$2,870.73$3,000
Utilities (Garbage, Water, Common Electricity)$6,499$6,500
Maintenance$1,184$1,200

Net Operating Income

$51,627$117,747
Assumptions
Cash on Cash = 10.43°

Cap Rate = 7.36%
GRM = 10.87
°based on 25% down, 25-year mortgage at 4% interest
*based on purchase of $1.6M

The 360° Tour.

(IO 360 or Google Chrome required to experience the full 360-degree video)

The Lay of the Property.

The information contained in this material is deemed to be reliable and accurate but it is unverified. Potential buyers should take all steps necessary to satisfy themselves regarding the information contained herein or any other matter related to the property they see fit. 

Curbed SF: Converted 1927 SOMA Warehouse Wows to the Tune of $2.9 Million — Curbed SF

Everything in this converted, design-heavy SOMA warehouse is what city living should be like, provided you can pay the price and yearn for a decidedly urban life.This 1927 warehouse at 735 Clementina, nestled between Eighth and Nine Streets, has been fully renovated with contemporary touches. It features two bedrooms, two baths, two floors, and approximately 1,900 square feet inside with 1,200 square feet on the private deck.

Source: Converted 1927 SOMA Warehouse Wows to the Tune of $2.9 Million – Curbed SF

Listed + Sold By Kevin Ho + Jonathan McNarry: 175 Bluxome Street, No. 327, San Francisco, An Updated SOMA Loft

[stack_hero layout=”parallax” image=”13143″ opacity=”8″]
Vanguard Properties

Kevin K. Ho + Jonathan B. McNarry

proudly present

175 Bluxome, No. 327

Just-Updated, Stylish, Spacious SOMA Loft with Design, Light and Parking

[/stack_hero]

175 Bluxome St., No. 327 | A Newly Rebooted SOMA Loft

Number 327 is a virtually new, top-level, stylish, 2-floor open-concept 2-bed, 2-bath loft condo with an open and flexible plan. Number 327 has 15-foot ceilings, tall bright windows with great morning light, wood floors, in-unit laundry, brand new carpet in the bedrooms, new recessed lighting, updated designer electrical fixtures and lighting, updated kitchen with brand new appliances, sink and disposal, brand new bathrooms with secure garage parking all in a perfectly located building close to CalTrain, SOMA’s tech enclave, AT&T Park and I-280/ U.S. 101. Deeded parking space included. Number 327’s top-floor perch is both convenient and quiet; its finishes are top-shelf.

Listed at: $899,000

SOLD: $925,000

CONGRATS TO OUR SELLER at 175 Bluxome, No. 327: We took a condo that would have probably sold for about $700,000 and helped our friend, seller and repeat client to update this loft with a strategic remodel that produced the greatest impact. We listed the property at a strong $899,000 and sold at $925,000. Given our client bought the unit for $500,000 in 2005 and sold it for almost twice the amount some 10 years later we’d say this was a solid return.

 

The Photos

Mr. Raffi Shows the Property (i.e., the Property Video)

A Better Walk-Through Than Most

Flower Mart site to become offices; current tenants won’t be uprooted – SFGate

Big buildings might soon be sprouting at the corner of Sixth and Brannan streets in San Francisco, but don’t look for the San Francisco Flower Mart to wilt any time soon.Kilroy Realty Corp., the real estate investment trust proposing to build a tech office campus where flowers have been sold for more than half a century, says it will incorporate the market into whatever project it develops there, said Chairman and CEO John Kilroy.This week Kilroy announced that it had reached an agreement to acquire the shares of the San Francisco Flower Growers Association, which owns part of the site, in a deal worth $27 million in stock and cash.

via Flower Mart site to become offices; current tenants won’t be uprooted – SFGate.

Kevin’s Open House Picks of the Weekend: March 21-23, 2014, 1st Weekend of Spring Edition

There are just 92 new listings new to the MLS from Thursday into Friday with 10 listings coming back on the market during that time and 366 scheduled open houses in San Francisco this weekend.

There are A LOT of single family homes that have caught my eye this week. Yes, many of them are at the high end, but others are in the middle and there are fixers among them too.

There a fixer with a potential in Eureka Valley at 4540 19th Street listed for $1.495M, a cute, drop-dead views of SF home near Dolores Park at 293 Cumberland that could use a garage installation listed at $1.7M and there’s also an interesting Victorian/Cottage project-building at 3 Laussat Street listed for just $875,000.  In the theme of large homes: there’s a chic, large Noe Valley, eco-friendly, 2012-renovated home with 2 car garage, radiant heat, solar panels, yard, open floor plan, and extra deep 114’ lot at 257 29th Street listed for a modest $2.995M. A pair of smaller Noe Valley houses, one at 369 Valley and another seemingly small-looking-but-larger home is located at 1515 Noe. A little to the west is a nice 4 bedroom home at 265 Kensington with 4 parking spaces near West Portal and St. Francis Wood for $1.2M. For a large stunner nearer the coast, take a look at 160 San Marcos, a Forest Knolls 3500+sqft new 2014-built 3 bed, 3.5 bath, den, elevator and 2-car garage with high-end finishes. And for you Liberty Hill fans, there’s a Victorian fixer that’s been used as a 2-unit building with more than 13 rooms and a 1-car garage located at 4121 20th Street listed for $1.7M between Noe and Castro Streets that will be delivered vacant at close of escrow that has scores of possibilities. For an updated craftsman in Glen Park take a look at another chic renovation at 264 Surrey. There’s a vacant 2-unit building over at 27th and Dolores at 171 27th Street that also offers a lot of possibilities too that’s being sold as a 2-unit building or separate TICs.  And over in the eastern parts of San Francisco, there’s that ‘perfect’ air-conditioned 1 story Victorian at 878 Hampshire listed for just $1.2M, a stunner of a 2800-sqft newly renovated home at 1164 De Haro in Potrero listed at $2.25M.

For condos, I really like 1070 Guerrero, which is a modern 2-level LEED condo built recently with 3 bedrooms that has that chic white-wall, broad plank, tall-ceiling feel of a modern and urban home located among historic houses near the Mission Dolores corridor, listed at $1.5M. In the vicinity sits 942 South Van Ness Avenue, a 2009-built 3 Bed, 3.5 Bath, condo with nearly 1900 sqft of living area listed for $1.359M. The Onyx SF over at De Haro and 17th Street new condos are now open. Other condos that look interesting are a clutch in the South Beach area (200 Brannan, the Brannan across the street). There is a cute condo on Dehon Street, right near 16th Street and Sanchez that comes with parking, character and light at 14 Dehon that is worth a look as are the listings at the Arterra, 175  Bluxome and 177 Townsend for smaller condos/lofts as are the ones at 1310 Minnesota and 1800 Bryant.

And as for 2+ unit buildings, the three-unit building at 357 Sanchez at 16th Street in the Castro near Duboce Park is finally open to the public and is being sold as an entire building or individual TICs. In the Inner Mission area, a three-unit building at 2331 Bryant is open as is the stunningly huge Queen Anne home at 955 S. Van Ness is open as is the lovely 2-unit building at 728 Clayton near Cole Valley.

For the complete list of the 31 pages of open houses I flagged for San Francisco, click here. And to search all open houses in the City, click here.

 

Can I buy at the Beacon?

What’s Up with the Beacon?

You’ll see a fair number of open houses over at 250 to 260 King Street across the ballpark otherwise known as the Beacon. The building has been the subject of litigation for several years now concerning its climate systems and other related defects-based litigation. So, can you buy there if you’re financing?

Yes but one lender will want at least 30% down (no points). While another has a 30 yr loan fixed at 3.875%
20% down for owner-occupiers with 1.5 points of the loan amount.

Remember, the reason why lenders don’t like lending on buildings with litigation, is because they don’t want someone else in front of them in a creditor line if it ever came to that.

Kevin’s Picks and Updates of the Week for San Francisco Real Estate 2/2/13 Ed.

Go Niners (next week)! Go See Your Next House on Saturday or Early Sunday

GO NINERS! (Bet of the Week: Niners, by 6)

Hello! Happy Weekend!. Welcome to Kevin’s Open House Picks of the Week — although this week I’m picking our 49ers. 

Just a year ago interest rates for 30-year fixed mortgages averaged 4.18% This year they are averaging 3.5% while the median price for San Francisco residential properties has shot up 39% since then. While that median price is a hard number to rely upon because inventory has changed — fewer foreclosures, lower inventory generally — one certainty is that interest rates will float down like a feather but will shoot up like a rocket and fast. And with the recovery starting nationally the risks of inflation will almost certainly lead to interest rate hikes. So while prices are higher, your overall cost and tradeoff between having more money today on hand versus money tomorrow or a decade from now can be measured by whether or not you get to make that assessment from your home.

Today’s market demands decisive action. Bidding $20,000 or $30,000 over an asking price — itself an inaccurate almost irrelevant value — is almost pointless and expected. In fact, we’ve started to see what they do in New York: the “suggested price.” Remember, market value only equals what someone (hopefully not someone else) is willing to pay for a property, which explains price flexibility especially if a property is not listed on the MLS. In fact, there is thinking that a third of property that will change hands in 2013 will be done off-market; all the more reason to have someone plugged in like me working for you.

Listing Sneak Peeks

(as overheard/shared by my colleagues)
I’ve been pounding the pavement, making calls and carefully listening to learn about new opportunities for you all before others do so you can get a head start.

  1. 24th and Dolores – Stunning renovation of two condominiums from a former single-family house. Won’t last long. Stunning views, high-end finishes, solid and quality construction. 1101 Dolores St. Lower unit 1.5 million upper at $1.995 million. Upper has four bedrooms, two and half-bath and 2300 ft.² (sold at +15% to an exclusive appointment client. Lower home has three bedrooms two baths with Cornerview at 1800 ft.² each comes with a parking space and it essentially new construction. Exclusive appointments only.
  2. 160A Linda Street @19th Street, 2-Bed/2 Bath 1 Bed/1Bath, TIC home in lottery, expected in January, February, pre-sale possible, middle unit, recently remodeled and sold (2010), expected list price range: $479k–$525k
  3. 486 Chestnut, Three new condos, 2 or 3 bedrooms with 1 to 2 parking spaces each, at least 1600 sq ft each expected, priced from $1.6M to $2.1M are coming on the market in January [construction delay]. It’s a rare to find something new in this area at all. See more: https://1456chestnut.com
  4. 2069 Green Street @ Webster, 3-Bed/3 Bath Pacific Heights Condo with parking and 3000+ sq ft., good light & garden access, expected list price range: $1.695M
  5. 1610 Sacramento at Polk, Nob Hill condos, eight recently renovated condos, each with independent parking spaces, 2 beds, 2 baths each either at 1150 sq ft or 1500 sq ft, prices range from $900k – $1.3M on within a week. [Staged this week, one already in contract].
  6. 96 6th Ave at Lake, 1 Bed, 1 Bath, + den, 6 unit bldg, Edwardian, great period details. Leased parking $150/month, Fireplace, wood floor, $400/month HOAs, wood floors, west facing, off market as sellers will deliver at the end of the year. Expected price: $675,000.
  7. 1653 Golden Gate, tic converting into 3 Bed/ 1.50 bath, 1800 sq ft, restored and upgraded top-of-the line, 7 rooms south-facing garden view.; price TBD, prob $800k – $900k+ (on this weekend or next)
  8. 1880 Steiner, 2 Bed/2Bath, 1 pkg second floor, at Post, nice layout with nice light, comfortable, fireplace, wood floors, built in 2002, 39 units altogether, around 1000 sq ft expected 1st week of Feb. Anticipated list price: $779,000 on next week
  9. 601 Van Ness #1132 1bd condo, opera plaza, $439k
  10. 627 Castro, top-floor TIC unit, 3 Beds, 2 Bath (1 is en suite) 2 parking spaces (!) recently renovated Edwardian flat, with 1600 sq ft. approx.
  11. top-shelf remodel, 2 fireplace, open kitchen, speakers in ceiling, new overhead light fixtures, small patio, restoration hardware finishes, garage parking, great location. List price $1.25M. Open to the public shortly thereafter and who knows what it will sell for and how long it will last. Seller is willing to take an offer now.
  12. 355 Buena Vista Ave, #301, 1 bed, 1 bath, extra storage, TWO parking space, condo, 774 sq ft, HOA dues around $400/month, expected list price $599k
  13. 352 Richland at Andover, Bernal Heights single family home fixer with APPROVED, shovel-ready plans for a 2300 sq ft expansion/addition to an otherwise large 1 Bedroom, 1 Bath, deep lot with yard, listed at $795k. Listed this week generally on MLS.
  14. 86 Wool St, Single Family Home at Eugenia Ave — 3 bed, 2.5 bath, 2 car, 1800 sq ft, was on the market last summer as a fixer, now it’s just about complete with high-end finishes and remodel. Expected list price $1.5M
  15. Noe Valley, Single-family House on Jersey St, between Noe & Sanchez, 290 Jersey, with AMAZING finishes; Previously 2 unit-probate at Jersey and Sanchez – now a stunning single-family home – 4 bedrooms (3 on same level); 3.5 bathrooms; formal living & dining; gourmet kitchen with family room / eat-in area; media room with wet-bar and adjacent outdoor living space with fire pit, garden and parking. Suggested list price in the $2.8’s. Shown by appointment only this Sunday, seller would love for Vanguard to sell the property and willing to take advance offers before going to open market.
  16. 994 Corbett near Market/Portola, it’s improved (perhaps over-improved, which means more value for you). Single family with 4 levels, w/ elevator, 3000 sq ft, master suite level with deck overlooking the city, fire place, steam sauna, infinity tub with views, master walk-in with chandelier, then three other levels with another 2-4 bedrooms depending on how you configure each floor. Decks on each. Excellent finishes and remodel. Radiant heat. Wood floors throughout. The kitchen is, well, wow, viking, gas range, custom wine fridge in addition to full-length refrigerator and freezer, two dining rooms, two sitting rooms, family rooms, workout room. Each person gets their own level. There’s a place to plugin your electric vehicle, the views are stunning, Anyway, it’s off market for a while and the list price now is $2.9M. Sellers are willing to negotiate.
  17. 537 Natoma @ Russ, 13 new construction condos, 9 2Bd/2Ba, 4 1Bd/1Ba, 850 sq ft–1100 sq ft, elevator building, all with parking, ready soon with exclusive for Vanguard agents and their clients. Expected price range $525k–$799k
  18. Oak & Baker, 5-unit building, with one renovated owner’s unit with 3-4 units some delivered vacant, excellent redevelopment opportunity, expected $1.8M–$2.0M
  19. Bryant & 1st Street, 3 Bed, 3 Bath, penthouse suite that combined two units into a space with more than 2500 sq ft with 2 parking spaces, 2 fireplaces decks, bridge and water views, expected list price: $2.7M
  20. 25th St & Castro, 2002-built 2 level, 3 bedroom, 3.5 Baths, upper unit that’s big and spacious with decks, sauna in a luxe building, tenant-occupied until Aug 1, expected list price $2M.
  21. 14th and Valencia, 411 Valencia, 1 bedroom, 4th floor, new construction condo, no parking, expected at $550,000.

In addition to my Picks of the Week, Advances and Exclusives, I thought you’d be interested to see how things ended up with previously listed properties. So without further ado:

 

Stories of the Week:

  1. 310 Townsend, a big one bedroom loft in that historic restoration building next to CalTrain, that was listed at $799,000 went in to the $800,000s — for a one bedroom!
  2. 2776 Golden Gate, a 2 unit building with one unit being tenant-occupied was listed at $999,000, received 6 offers and will close nearly 20% over the asking price.
  3. 1015 Florida, the single family home in need of some TLC in the hot Inner Mission area, listed at $665,000, received at least 14 offers and entered escrow at a “substantial” amount over the asking price.
  4. 1610 Sacramento, 3 bedroom Nob Hill condos with more than 1200 sq ft, which was exclusively previewed last weekend to Vanguard agents and their clients, already has the top-floor unit in contract at more than $1,000 a sq ft.
  5. 411 Valencia, the last 2-bedroom condo available went into contract over its asking price of $759,000 with multiple offers.

Extras: Access various reference resources — including my exclusive 60-page User Guide on how to navigate real estate successfully in San Francisco for buyers and sellers at www.kevinho.org Ask me for reference materials via Dropbox. And see pictures of many the homes I preview for you at Photobucket or on iCloud or YouTube.

This week there seems to be a lot of single-family homes and larger condos at the $2M price point. I’ve always said that the $2.3M – $2.9M price point is the perfect price in SF as you’ll get the most ideal home, or amenity-filled condo in areas like Pac Heights/Marina, South Beach (condo), Noe Valley/Eureka Valley, Haight (single family homes) Also we’re seeing more fixers pop on to the market too. So, take a look here and also be sure to go to www.kevinho.org to see the upcoming broker tour sheet for Tuesday.

My business comes from you and yours, so please feel free to pass this along to your friends, colleagues, pet walkers, etc. Thanks! Kevin Ho

Picks of the Week

 TAKE NOTE: Many of the open houses this weekend are on Saturday or are EARLIER on SUNDAY.

(a .pdf version will appear when clicked)

%d bloggers like this: