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By Coach A:
In Coach A’s sporadic installments of Investor Alley he picks a house, building or condo and talks about
how somebody can create a return on their investment.
Current Schtuff:
- Address: 2882 Pine Street
- ‘Hood: Lower Pacific Heights
- Price: $1,199,000
- Beds: 1
- Baths: 1
- SqFt: 864
Currently a 1900 era 1 bed/1 bath tenant occupied house on Pine St between Broderick and Baker. Nice Lower Pacific Heights location - great block with some incredible homes. House is a mess as-is, but has a small yard and a garage. Owner purchased in 2006 for $1,125,000 and is now “motivated.” Owner has unpermitted plans to create 3 bed/3.5 bath 2800+ square foot house, which is consistent with most of the block.
Plan:
By Coach A:
In Coach A’s sporadic installments of Investor Alley he picks a house, building or condo and talks about how somebody can create a return on their investment. He’s also taking a stab at some other investments and shootin’ the sh*t with his friends over at his blog.
Schtuff:
- Address: 269 Frederick St
- ‘Hood: Cole Valley
- Price: $1,098,000
- Beds: 3
- Baths: 2.5
- Sqft: 2240
My Plan:
- Add an internal flight of stairs from the northern most wall in the “plus” room and connect the flat to the legal space downstairs.
- Open the wall between the “plus” room and nook. This would create a legit 3rd bedroom up or a great home office area. Read the rest of this entry »
By: Coach A
The not so weekly investment installment where Coach A picks a house, building or condo and talks about how somebody can create a return on their investment…
Schtuff:
Address: 103 Ellsworth St
‘Hood: Bernal Heights
Price: $799,000
Beds: 2
Baths: 1
Sq. ft.: 1357
Extra: “basement” space on lower level
Plan:
By Coach A:
The weekly investment installment where Coach A picks a house, building or condo and talks about how somebody can create a return on their investment…
Schtuff:
Address: 657 Ulloa Street
‘Hood: West Portal
Price: $889,000
Beds: 2
Baths: 1
Sq. ft.: 1506
Extra: in-law unit
Plan:
- Purchase for $945,000 in as-is condition with a 21 day close (gonna be some competition for this one)
- Spend $100-$150K in upgrades (Home is in move in condition, but most likely needs a new roof.)
- blow out the interior walls to reconfigure the space into a more suitable 2 bed / 1.5 bath upstairs and refine the outdoor space and garage area.
- Keep the in-law rented and generate $1100.00 a month.
- Ultimately, drop an interior staircase in the home and create a 3 bed / 2.5 bath 2500 sq.ft. home
By Coach A:
House 1 Deets:
2821 Turk Street
Price $950,000
2 bed + sun room
1.5 baths
1725 sq feet (tax record)
Comments: The home needs a few “small” tweaks before it’s move-in ready, but there are some incredible expansion possibilities given the size of the garage. A $200K - $250K remodel would still put this house well under market value. It would make sense to remodel the kitchen and bath on the main level, create a master suite opening to the yard in the garage. These additionals can be done legally making the house 2400+ sqft with 3 beds, 2.5 baths, sun-room/office, yard and will still have parking.
House 2 Deets:
2539 Turk Street (extremely similar to house 1 with a nearly identical floor plan and location. This home has more upgrades and shows substantially better than house 1, but is also directly in front of a Muni stop.)
Price:1,150,000
3 beds
1 bath sq ft.
1683 square feet (tax record)
Comments: In contract after 10 days on the market (let’s assume it sold for slightly over the asking price)
Lone Mountain Deets: 2007
14 single family home sales
Average list price: $1,259,000
Average sales price: $1,350,000
Avg size: 1790 square feet
2821 Turk Street [McGuire Real Estate; agent Chris O'Connor via Home SF]
2539 Turk Street [ McGuire Real Estate; agent Barbara Callan via Home SF]
Investor Alley [San Francisco Schtuff]
By Coach A:
FULL DISCLOSURE: This listing is held by a Home San Francisco Agent
Deets:
Address: 504 Ellsworth Street
Price: $869,000
Currently 1000 sq feet of living space (per tax records)
3 bedrooms
1.5 bathrooms
Garage
Garden and deck
TONS of storage
Just 2 blocks from Cortland Ave.
Investment opportunity - An architect has developed a rendering which would legally convert a large portion of the garage into a master suite opening to a garden and yard. Once done, some small changes can me made upstairs to better utilize the living space. You are looking at a remodel of approximately $140K.
Before you shake your head in disbelief, take a look at some comparable stats:
[update: An offer was accepted in 4 days after the home hit the market and is currently pending]
By Coach A:
2832-2834 Anza Street
Price: $1,150,000
Two unit building - each unit is approximately 1650 square feet and consists of 2+ bedrooms, 1 bath, large living room, big kitchens and tons of 1920 detailing. Add 2+ car garage with additional storage and a shared back yard and the building sits on a quiet block in the Richmond district within walking distance of a ton of amenities.
Upper unit is vacant- full disclosure: an elderly man died of natural causes in the space.
Lower unit is rented for $1200.00 a month on a month-to-month basis; the tenant has yet to respond so we don’t know if they are protected.
Here’s what I would do with this space:
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]
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