San Francisco Schtuff

San Francisco real estate, events, food and neighborhood

Chattanooga Street Update

We’ve been following the interesting progress of the two, two-unit buildings just a few doors down from each other on Chattanooga Street.

Here is the update: 271-273 Chattanooga Street is now in contract and the current status is active contingent. 219-221 Chattanooga Street has seen an offer date come and go and still sits active in the MLS.

271-273 Chattanooga Street [gtwice.com]
Riddle Me This… [gtwice.com]
219-221 Chattanooga Street [Home San Francisco]

Filed under: Ggold, Noe Valley, real estate , , ,

Bathroom With a View at 1 Rincon Hill

rinconbathroom.jpg

1 Rincon Hill plumbing and bathroom update…

Filed under: Ggold, neighborhood changes, new developments, south beach , , ,

Single Family Homes March 2006 Vs. March 2007

Single-Family Homes

District 1

March 2006

March 2007

Number of Sales

19

17

Median Selling Price

$1,101,000

$1,154,500

Average DOM

33

43

District 2

March 2006

March 2007

Number of Sales

48

40

Median Selling Price

$796,500

$829,500

Average DOM

34

48

District 3

March 2006

March 2007

Number of Sales

24

11

Median Selling Price

$715,000

$732,000

Average DOM

33

53

District 4

March 2006

March 2007

Number of Sales

34

25

Median Selling Price

$989,000

$999,999

Average DOM

32

34

District 5

March 2006

March 2007

Number of Sales

34

34

Median Selling Price

$1,310,000

$1,177,500

Average DOM

34

22

District 6

March 2006

March 2007

Number of Sales

3

2

Median Selling Price

$1,510,000

$1,405,000

Average DOM

26

15

District 7

March 2006

March 2007

Number of Sales

16

10

Median Selling Price

$2,403,000

$3,781,500

Average DOM

51

74

District 8

March 2006

March 2007

Number of Sales

3

2

Median Selling Price

$1,305,000

$2,537,500

Average DOM

26

60

District 9

March 2006

March 2007

Number of Sales

18

14

Median Selling Price

$791,500

$877,500

Average DOM

51

49

District 10

March 2006

March 2007

Number of Sales

44

42

Median Selling Price

$695,000

$689,000

Average DOM

42

49

San Francisco Association of Realtors

Filed under: stats, year over year , ,

900 Minnesota St. Revisited

Over a year ago we started to share some information on the newest development in the Central Waterfront/Dogpatch neighborhood–Homes on Esprit Park. Recently a new website for the project went live and it features neighborhood information, building and neighborhood history, project overview, floor plans and it has a slight insight into pricing (homes ranging from the $600,000s to high one millions).

Sales office opens this Fall if you have any interest…

New Condo’s in the hood—142 of them to be exact!
[SanFranciscoSchtuff]

900 Minnesota St. [SanFranciscoSchtuff]
Homes on Esprit Park [website]

Filed under: Ggold, new Real Estate developments, new developments, real estate , , , ,

From Bar to Bistro

leptitlaurent1.jpg

Red Rock Cocktails on the corner of Diamond and Chenery in Glen Park has shut its doors and is getting a face lift. Construction has been taking place for a few weeks and now that some of the stucco has been removed and new windows installed, there is a little note on the door telling folks what is to be expected in upcoming weeks. Oui Oui, so fan-cy.

Glen Park is turning into an international culinary extravaganza. There is a new (and always crowded) pizzeria, a very popular taqueria and now, a French Bistro.

Filed under: Food, Ggold, Glen Park, neighborhood changes, restaurants , , ,

Investment Opportunity or Money Pit???

leasefireplace.jpg

There is a new listing in the Ingleside district. Though there are not many provided pictures, there also doesn’t seem to be provided walls!! If you’re looking for a project, this may be the place for you!?!?

25 Lee Ave. [mls]

Filed under: Ggold, Investor Alley, listings, real estate , , , , ,

271-273 Chattanooga Street

After a reader posted a comment/question about 271-273 Chattanooga Street, I thought I’d try to look further into the matter. I have not yet come up with any concrete details as to why the property is back on the market or how it has appreciated in such a short period of time. I do have a few facts however and if anybody has any insight, by all means, speak up!

Facts:

  • Brought on the market in July of 2006 for $1.15mm. Property was tenant occupied.
  • Listing expired in 10/06
  • The building was brought back on the market for $1.2mm and was active for 41 days. It expired again in December 2006.
  • Brought back on the market (with two of the units vacant) for $1.238mm and sold in March 2007 for $1.275mm.
  • The building went back on the market last week and is currently active at $1.365mm

Any thoughts or insight?

Filed under: Ggold, Noe Valley, real estate ,

B.Y.O.B.W.

Filed under: Ggold, funny sh*t, video , ,

Riddle Me This…

The recent listing of 219-221 Chattanooga Street is an appreciation mystery I’m trying to solve. This two unit building was brought on the market late last year with an asking price of $1.195mm. The home sold in November 2006 for $995K. The two units are tenant occupied and based on the inspections and disclosure of the original listing, I know that there is a VERY LARGE amount of work that needs to be done to this charming, but old building in the heart of Noe Valley. For one, the back of the building (which includes the bathrooms, large storage area and deck), needs to be removed and rebuilt as it’s in disrepair.

Here is what I’m trying to figure out…

How did this building appreciate $104K (10.5%) in a mere 4.5 months? The rent roll is exactly the same, no work was done and now weeds are growing through the deck in the back yard.

All of that said, I’m a fan of the building and the location. Buy it at $1.01m, put in $325k (redo the back area bathrooms, storage and deck, reconfigure the units, get some new finishes, reinforce the foundation, build a garage and clean up the back yard, owner occupy the two units and condo convert). In at $1.335m and you’re living in a gorgeous 2 bed/1.5 bath, brand new condo in an amazing location.

Filed under: Ggold, Noe Valley, listings, real estate , ,

New Quarter, New Inventory???

This year is flyin’ by. With the new quarter comes new statistics and inventory…

Noe Valley
Active Single Family Homes
Active Condo’s/Lofts/TIC’s
27 single family homes sold in Q1 with an average sales price of $1.269m
38 lofts/condos/tic’s sold in Q1 with an average sales price of $653,000

SoMa
Active Single Family Homes
Active Condo’s/Lofts/TIC’s
0 single family homes sold in Q1
49 lofts/condos/tic’s sold in Q1 with an average sales price of $744,083

Glen Park
Active Single Family Homes
Active Condo’s/Lofts/TIC’s (nothing active)
13 single family homes sold in Q1 with an average sales price of $1,034,000
1 lofts/condo’s/tic’s sold in Q1 with an exact sales price of $980,000

Bernal Heights
Active Single Family Homes
Active Condo’s/Lofts/TIC’s
27 single family homes sold in Q1 with an average sales price of $850,722
11 lofts/condo’s/tic’s sold in Q1 with an average sales price of $528,500

West Portal
Active Single Family Homes
Active Condo’s/Lofts/TIC’s
0 single family homes sold in Q1
0 lofts/condo’s/tic’s sold in Q1


Pacific Heights
Active Single Family Homes (this includes the Marina, Presidio Heights and Cow Hollow)
Active Condo’s/Lofts/TIC’s (this includes the Marina, Presidio Heights and Cow Hollow)
11 single family homes sold in Q1 with an average sales price of $3.979,591 (only Pacific Heights)
36 lofts/condo’s/tic’s sold in Q1 with an average sales price of $1,113,261 (only Pacific Heights)

Filed under: stats