SF: Want a Single Family Home on a TIC Budget, Part II

Okay, TIC people, this is the review for the other half of 1575 22nd Ave., a property I am personally having dreams about. Good dreams. This rare opportunity offers two well maintained, even charming homes on one lot- they share no common walls. You’d have then, effectively, a single family home for the price of a TIC, and SF law allows you to convert to condo on properties consisting of only 2 units without going through the lottery (there’s a waiting period, but no lottery).

This second house is smaller than its neighbor (or parent?) home. Yet whereas the larger 3 bed, 2.5 bath faces the street, this 2 bedroom, 1 bath faces out on a large garden/front yard. It also has an extra room in bottom floor/basement area that can’t be called legal bedrooms by SF regulation, but you could use them for a bedroom if you wanted to. On the main floor, the kitchen is clean and fully equipped for the home chef with a taste for granite counter tops. The floors elsewhere are hardwood, and light streams in through the cottage’s windows. Period details complete the vintage feel of this uniquely secluded unit.

Parking is not included with this unit as the garage is attached to the front house. Yet the middle Sunset is not exactly a hot bed of happening city life (though you are close enough if you seek it), so street parking is manageable.

This property is offered as TIC, with the 2 bed at $549,000 and the 3 bed at $699,000, or you can purchase the entire property and buy yourself into excellent rental income or your very own family compound. See it live, in person: Sunday, April 29, 2007 2-4pm.

STATS
Beds: 2
Baths: 1
Year Built: 1911
Floor Number: 0
County: San Francisco
Location: Central Sunset
District: SF District 2
MLS: 323074
Status: Active on market
On Redfin: 5 days

Sales History:
Date Price Apprec
07/10/2006 $1,042,500 23.3%/yr
02/18/2005 $780,000 14.5%/yr
04/29/1994 $180,000 -21.4%/yr
03/23/1993 $234,500 -12.6%/yr
09/30/1992 $250,000 -10.1%/yr
08/02/1990 $315,000 -13.2%/yr
08/23/1988 $415,000 -
Taxable Value:
Land $248,748
Additions $62,181
Total $310,929
Taxes paid in 2005: $3,617