SF: 3 “Reasonably Priced” Properties

moneyhouse1.gifI always have to laugh at the real estate term “reasonably priced,” at least as it is applied to San Francisco properties. What’s reasonable, really, about paying more than a quarter million for a 250 square foot studio? Yes, maybe, maybe the market will rebound and that studio will later be worth 20 to 5oK more than you bought it for- but is the person who’s buying it from you then reasonable? Or are we all crazy?

Crazy in love, I guess, with this city, which is why the prices have shot up and stayed up, even in this sluggish market. But here I have found 3 properties, all well under 400k, which may be a sign of sanity on the horizon.

1. Studio loft at McAllister. No address listed but you can see a terrible picture here. The interesting thing is that it does look–though blurry– pretty posh, the location (near Van Ness and McAllister) would be great for anyone working downtown, and the building offers a roof deck, laundry, and club house. No idea if the asking price of $340,000 is actually a deal or not, but you can decide that for yourself.

2. 901 Bayshore Blvd. #213. This is a one bed condo at 570 square feet with a firplace, deck, large common yard and parking. At $345,000, you’re still paying the dizzying $605 a square foot (crazy city!) but I would not let that deter you if you are one of those who believes Silver Terrace will rebound and become the next Pacific Heights. I found another unit listed for $270,000 in the same building.

3. 204 Funston. Here is studio in a great Richmond hood. The listing says it’s been on the market for 19 days but actually I have seen it many times over the past months so you may have even more wiggle room than the stated price of $298,000. This is a TIC with nice light, hard woods, remodelled kitchen.