Our weekly installment, Seductively Sold, will be available for your viewing pleasure each Monday. This little gem will bring you all of the 2-unit sales in San Francisco from the previous week. If you would like the sales information for Single Family Homes, Condo’s, or TIC’s, just ask…
| Address | District | Asking | Selling | DOM |
| 1274-1276 Hampshire | Inner Mission | $825,000 | 650,000 | 42 |
| 2388-2390 40th Ave | Outer Parkside | $849,000 | 824,200 | 72 |
| 733-735 Webster St | Alamo Square | $949,000 | 925,500 | 62 |
| 23-25 Clifford Ter | Parnassus | $1,095,000 | 1,120,000 | 21 |
| 543-545 24th Ave | Central Richmond | $1,249,000 | 1,187,500 | 9 |
| 2432-2434 Cabrillo St | Central Richmond | $1,179,000 | 1,210,000 | 30 |
| 3974-3976 18th St | Eureka Valley | 1,250,000 | 1,228,000 | 21 |
| 1708 Clement St | Central Richmond | $1,344,500 | 1,280,000 | 69 |
| Address | District | Asking | Selling | DOM |
| 1202 19th St | Potrero Hill | $1,395,000 | 1,325,000 | 69 |
| 3514-3516 Pierce | Marina | $1,845,000 | 1,800,000 | 61 |
| 2044-2046 Divisadero | Pacific Heights | $2,199,900 | 2,125,000 | 91 |
| 153-155 3rd Ave | Lake | $2,898,000 | 2,838,000 | 49 |
Filed under: Ggold, real estate, seductively sold, stats , garrett goldman, real estate, seductively sold, stats
[...] Interestingly, 2-unit buildings are not faring well in this slower market, which may be a signal to TIC partners that their time has finally come to get a good deal on a property. These data come from Garrett Goldman, from the San Francisco Schtuff blog: [...]
This is interesting to me as I am one of those who can likely only get in the market via TIC– and I’d only do it in a vacant, no OMI/Ellis 2-unit building– with someone I know VERY well. Can’t tell if the ones you list meet that criteria– they could all be protected tenant or OMI or both! But it seems to indicate my particular niche is getting more affordable. Course there’s still the loan thing, which I imagine is less kind these days to creative stuff like TICs. What do you think?
Thanks for the great posts, Garrett. What would I do without you?
hi anna–
some of these stats may meet your requirements (a vacant, no OMI/Ellis 2-unit building), but i doubt they are in the majority. these stats are for ALL 2-unit buildings.
the loan thing is my biggest concern. a 2-unit building is much more of a “sure thing” versus a 3+ units place in terms of financing, especially since in the eyes of the bank, you and your partner would most likely be getting 1 loan (rather than fractional) in a 2-unit building and that has a much smaller risk to a bank. i like the idea of 2 friends with similar goals buying a 2 unit building with no history of evictions and adding some value. stick it out through the conversion process and things become happy shiny.
do you handle these? redfin does not
we (i) do. in fact, i often keep my eye out for these (good opportunity 2-unit buildings) as i know a few folks out there that are interested in such a situation.