December 24, 2009

This would’ve been a great stocking stuffer in San Francisco

Sale Pending (MLS-listed)
Listed at: $98,000

Beds: 3
Baths: 2
Sq. Ft.: 1,360
$/Sq. Ft.: $72
Lot Size: -
Property Type: Condominium
View: Water
Year Built: 1981
Community: Hunters Point
County: San Francisco
MLS#: 361540
Source: San Francisco MLS
Status: Contingent This means the sellers have accepted on an offer on the property, but success may still depend on passing a home inspection or the buyer’s financing approval. It may still be possible to tour these properties and submit a backup offer in case the current one falls through.
On Redfin: 95 days
In 2004 this unit had a newer kitchen and carpet and was freshly painted. You can still see the renovations in the kitchen including the tile floors and granite counters. Laundry in unit. However, the unit has suffered wear and tear. Rent is $2,273/month. An investor WILL cash flow. A homebuyer will need to put in the work, but this property can shine. Short sale. Showings limited to 2:00-4:30 p. m. Tues-Fri and by appointment. Recent sales: 120 & 126 Kirkwood, same complex, but sold vacant.

Thanks to Burbed reader Pralay for this find.

At $72 per square foot, this would’ve been the perfect stocking stuffer for someone. Unfortunately, it’s already pending. You snooze, you lose.

It also goes to show how the affordable housing crisis is pretty much over. Sure it’s in Hunters Point, but that just means there’s more growth potential.

So let’s look at some of the work that might be needed:

image

Oh that’s no big deal. Some Tilex will clean that right up.

Just think of the amazing cash flow from this. $2273 a month in rent. This, my friends, was the gift that will definitely keep on giving.

Comments (2) -- Posted by: burbed @ 5:00 am

2 Responses to “This would’ve been a great stocking stuffer in San Francisco”

  1. Joe Says:

    Actually, this would probably rent for $800/month.

    http://sfbay.craigslist.org/sfc/apa/1523433309.html

  2. San Francisco Property Says:

    Even at $800 a month it would probably still be cash flow positive. It has true income potential.


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