TIC Partners: Check This Out!

TIC partners: check this out

Here is a 4 unit cutie in the South of Market. The units themselves are tiny (less than 600 sq. ft) but tasteful, with their own decks and yards plus basement storage, so each person would have a little more room to breathe. Plus, at these prices, and considering the property has fallen out of escrow and has been on the market for over 90 days, you might be able to buy all 4 with just one other partner, giving each of you two bedrooms and thus over 1000 sq. ft to play with.

Attention to small detail is prevalent here, and the designers made use of both space and light to maximize the open feeling you need in a small apartment. The kitchen is definitely set up for good cooking: free standing ranges, gas, granite counters.

Staging shows again that a little ingenuity and organization can keep your pad looking cute instead of cluttered, and keep in mind you can almost always buy the furniture in a staged apartment if your won stuff just won’t conform to the sleek layout you see here.

Not a perfect property, as you may guess from the fact that it’s still available. The location is not super: SOMA has been called up and coming for as long as I have lived in San Francisco (8 years), and I’ve yet to see anything up or coming about it. But it’s certainly the right environment for urban types, who enjoy proximity to downtown, the freeways, and all the dance clubs. Indeed, this area does have its own gritty charm. Another drawback: no parking. And again, since this is not the safest area, you want to think about purchasing some safe parking as near as possible to your building to minimize your time spent walking alone in the dark.

All of these inconveniences could be additional bargaining tools in the price, so I would strongly recommend, if you’re in the TIC market, that you take a look.

STATS
Building lists at 1, 276,000 (34 units listing at $309,000- $329,000)
Beds: 1
Baths: 1
Sq. Ft.: 570 each, 2288 building
Year Built: 1912
Floor Number: 4
Style: Contemporary
County: San Francisco
Location: South of Market
District: SF District 9
$/Sq. Ft.*: $542
MLS: 316928
Status: Active on market
On Redfin: 134 days
Categories:
Unsold in 90+ days

Sales History:
Date Price Apprec
09/03/1997 $225,000 21.2%/yr
04/25/1997 $210,000 31.7%/yr
03/30/1990 $30,000 -
Taxable Value:
Land $120,277
Additions $137,461
Total $257,738