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By Coach A:

Back in the day when Gtwice was a blogging force, we adopted Brewster Million’s rules and had to spend a set amount. We’re bringing it back with a twist. I’m providing the Schtuff crew several choices – of course I’m going to give my two cents! Without further ado:

Spend: $975,000 - $1,025,000

Choice # 1: 18 Lansing St # 402
Choice # 2: 55 Uranus
Choice # 3: 141 Westwood
Choice # 4: 591 29th Ave

For details including size, price, comparables, pictures and opinion, click through…


Choice # 1
18 Lansing St # 402

A brief history of this 1542 sqft loft located on Rincon Hill

* Sold in June of 2000 for $800,000
* Sold in June of 2005 for $975,000
* Listed in August 2007 for $1,395,000
* Withdrawn from the MLS on November 13th, 2007
* Re-listed with a new brokerage for $999,000

Sounds like you are going to get a GREAT deal if ya buy it for nearly 400K under original asking price right! Look again! Can someone say, “obsolescence.” This building is surrounded by bigger/stronger/faster versions with the promise of more on the way. For the “same” price, you can “improve” your location (try getting to 18 Lansing on a Friday after work) and buy a unit of comparable size in a newer building that offers significantly better amenities:

Examples which have been on the market for several months.
200 Brannan St # 443
400 Beale St # 1501

Choice # 2
55 Uranus
This is being sold in tandem with 53 Uranus, a $350,000 legal studio unit. (I’d suggest buying them both and renting the little unit but I’d violate the rules of my own game) 55 Uranus – essentially a single family house – has split levels, incredible views, multiple decks and a shared garden. While being marketed as a TIC, it’s likely to sell in combination with the studio and provide an incredible in law unit to a gorgeous house. It’s going to get windy and foggy – it’s on a steep hill – but damn those views are great!

Choice # 3
141 Westwood
1900+ sqft Arts and Crafts style home – great two tier deck, boxed ceilings and original details. Not exactly the most happening neighborhood in San Francisco – that said, a ton of space.

Choice # 4
591 29th Ave
1800+ sqft, bi level home perfect for a family. Great views of the Golden Gate, tons of space and ability to improve and easy access to amenities and transportation.

There ya have it–1 loft, 1 TIC and 2 single family houses–all within $20K of each other. I’m a sucker for views and given money is no object, I’d purchase 53 and 55 Uranus (plus it’s fun to say). The best investment of the bunch in my opinion is 29th Ave while Westwood offers a safe investment of money and is a great family home. Lansing is a trap. At $850K it offers an opportunity to make money, but at $999,000, a buyer will be hard pressed to make money in the next 3-5 years, which is typically when loft buyers “grow out” of lofts.

And if ya don’t know, now ya know