New Condos on Tap for Potrero, Dogpatch

Potrero and Dogpatch are the sites of two new condo developments currently under construction—Onyx and Millwheel North. Both are situated in very different locations, and have unique appeals:


1717 17th Street / Carolina
The Homes: Phase 1, 20 units, divided among one-, two- and three-bedroom plans
The Scoop: “Onyx” is located in a great part of Potrero, within walking distance to Whole Foods, World Gym, restaurants, cafes and bars. It’s across the street from Jackson Playground, so you get some green to look at. You can expect high-end finishes that will command top dollar, as well as parking for each unit and commercial spaces on the ground level. There will reportedly be 21 more units coming in Phase 2 of this project next year.
Buy If: You want a home in the heart of Potrero, as well as in proximity to Mission Bay and the freeways.
Developer: Paragon
Sales Begin: Spring 2013


1275 Indiana/1260 Minnesota
The Homes: 39 condos, mix of one-, two-, and three bedrooms for sale
The Scoop: Millwheel North follows the success of Millwheel South, which sold out rapidly in 2012, and is located right next door. Similar to Millwheel South’s layout, the North building will have addresses on Indiana and Minnesota, and both buildings will be linked by a common courtyard. A bulk of the units will be two bedrooms. There will be parking for each condo. The Indiana building faces 280 and a public green area, and the east-facing Minnesota side will be quieter. You’ll be in proximity to the Third Street rail, freeway and a healthy walk to the Dogpatch restaurant and cafe area on 22nd Street.
Buy If: You’re looking for a spacious condo with high-end finishes in a constantly developing neighborhood.
Developer: R Group, Inc.
Sales Begin: Late 2013/Early 2014

If you’re interested in taking a look at any of these condos, please let me know and we can schedule an appointment or get your loan preapproval going as soon as the sales office is in place. I can only assist you if I accompany you on your first visit to the sales office, and am happy to arrange for that at your convenience.

What You Can Buy: 2BR Condos

Two-bedroom condos are one of the most popular options for first-time home buyers in San Francisco. I thought we’d take a look at a trio of new listings that offer good space, cool locations and nice amenities for their price points:

1099 23rd Street #19
Dogpatch
2BR/2.25BA, 1904 sq ft
1-car parking
HOA dues: $641/month
List Price: $850,000

I’m digging 1099 23rd Street #19, a spacious tri-level loft with multiple skylights, soaring ceilings and a wall of windows. The updated kitchen has stainless-steel appliances, granite counters, and maple cabinets. There’s a large bedroom upstairs, and the lower level has the master suite with a second gas fireplace. Nice closet space and laundry room, too. HOA dues are on the high side for a 21-unit building in Dogpatch, but they include outside management and grounds maintenance. This is a solid Dogpatch location, in easy walking distance of all the restaurants and shops on and around 22nd Street, as well as near the Muni line and freeways.

3236 17th Street #1
Mission
2BR/2BA, 1534 sq ft
1-car pkg
HOA dues: $200/month
List Price: $899,000

Another spacious condo, 3236 17th Street #1 is situated on the first floor of a three-unit building constructed in 2008. The open floor plan has a remodeled kitchen, and the main living spaces are nicely separated from the bedrooms by a long hallway. There’s side-by-side parking for one car, a storage room, and shared rear yard. 3236 17th Street is right in the thick of it all in the Mission, with a bike lane outside its door and plenty of restaurants, shops and cafes a few steps away.

899 North Point #1
Russian Hill
2BR/2BA, 1171 sq ft
1-car pkg
HOA dues: $312/month
List Price: $949,000

899 North Point #1 is an excellent option for buyers who want to be in a convenient location close to The Bay. The unit is located on the first floor of a three-unit building, and it’s another contemporary property that was constructed in 2009. As is typical for more recently built condos, the living/dining/kitchen areas are open and provide good space for entertaining. The bedrooms are a decent size, and the master has a bath with a stall shower. Amenities include radiant heat, hardwood floors and views of Mount Tam and The Bay from the living room. You’re a stone’s throw from iconic Ghirardelli Square, Aquatic Park, Fisherman’s Wharf and North Beach. And the cable car stops one block away!

Which Neighborhoods Have the Best Weather?

If you’re new to San Francisco, then it’s important to be aware that our city has a variety of microclimates. One minute you can be driving around with the top down, sweating, and the next you’re turning on the seat warmers. If you’re considering purchasing a home here and are particularly weather sensitive, it’s important to know which neighborhoods tend to have the most favorable climates.

Of course, San Francisco has citywide fog and wind no matter where you go. But some areas have longer periods of time during a given day when the sun shines and the wind is at a minimum. So here’s a quick rundown:

Bernal Heights. Make a good garden space a priority in Bernal, because you’ll be able to spend a lot of time enjoying it. And the Cortland retail strip is usually pretty hoppin’ because you can wander in and out of the shops and restaurants and not have to keep zipping and unzipping your jacket.

The Mission. Bernal’s neighbor is the Mission, which also shares in the weather fun. The nice part about the Mission is that the dining scene has exploded, so there are tons of restaurant options, as well as unique shops along Valencia and throughout the neighborhood. If your commute involves walking to BART at either 16th/24th and Mission, your morning and evening strolls won’t force you to confront driving winds.

Noe Valley. I live in the part of Noe that’s defined as “Upper Noe”—the area bordered by Guerrero, Cesar Chavez, 30th Street, and up as far as Diamond. For the most part, you can avoid the high winds in Noe, but it does depend on how into the “valley” part you are. Most days when I walk my dogs in the late afternoon, I’m wearing sunglasses and have a light jacket on. However, up there in Diamond Heights, the fog hangs thick. And when I drive down, say, Clipper, from Portola in the Twin Peaks area, I typically experience a transition from no sun and heavy fog to sun. There’s a notable difference every time.

South Beach. Located right off The Bay, South Beach is blessed with lots of sun most of the time. This is conducive to a very desirable, urban lifestyle that involves walks to the Ferry Building, runs along the Embarcadero, and Giants games.

South of Market. The blocks are long in SoMa, but that’s okay because if you’re running, biking or walking, you’re not being blown into traffic. The neighborhood is always developing, and it’s definitely the most urban area in this list. But having good weather is key to enjoying those shared rooftop decks that pervade SoMa living.

Mission Bay. Constantly in development, Mission Bay has amenities like Mission Creek Park, the ballpark, and outdoor dining. Developers have taken advantage of the on-the-Bay setting by incorporating as many deeded outdoor spaces as they can in condo complexes.

Potrero Hill/Dogpatch. Potrero is a well-established neighborhood offering a mix of residential and industrial properties, and Dogpatch (a.k.a. the Central Waterfront) has truly been transformed over the past decade into a hub for local businesses, restaurants, wine bars and the like. The T Muni line connects Dogpatch to downtown, and the freeways are extremely convenient to access.

Holiday Roundup: What’s Left?

Every year at this time, San Francisco real estate inventory begins to dwindle. Our broker tour sheets go from 40 pages to five, and less sellers put their homes on the market. However, there are some solid properties out there that are worth considering. I decided to showcase three of them today, in case they might fit your bill:

901 Rockdale
Miraloma Park

3BR/2BA, 1 pkg
$1.1M

Though it has odd curb appeal, 901 Rockdale has a nice floor plan and convenient location. This 1928 Tudor-style house has a living room with cathedral ceilings and a fireplace, and the window perfectly frames the Marin Headlands and surrounding homes (above). The formal dining room leads to the remodeled kitchen, and there are two bedrooms on this level. Downstairs is a third bedroom and separate bath. Square footage is on the small side, so this isn’t a sprawling home that could accommodate a lot of people. 901 Rockdale initially came on the market listed at $1,025,000, but fell out of contract and came back on at the current $1.1M price. This may be a good time to negotiate something. The house is situated just across Portola from the West Portal retail area, and is also right down the road from Mollie Stone’s.

2295 Vallejo #401
Pacific Heights

1BR/1BA, 1 pkg
$985,000

There’s a limited number of homes in San Francisco with these kind of views, so you pay dearly for them when such homes become available. In this case, you have a roughly 830 square foot, top-floor condo in Pacific Heights Place, a 43-unit building constructed in 1975. The kicker is the private terrace that’s perched above Vallejo and Fillmore Streets. 2295 Vallejo #401 has been recently remodeled, but this is all about the views, terrace, and prime San Francisco location. The buyer for this unit will value the latter two attributes above all. HOA dues are $423/month, and there’s an elevator in the building along with shared laundry. This condo has been on the market at this price since the summer, so maybe there’s a buyer out there who can break the stalemate?

365 Connecticut
Potrero Hill

2BR/2BA, 1 pkg
$829,000

On the market since the end of November, 365 Connecticut is a well-appointed first-floor condo in a two-unit building. This property has the elusive second bathroom, along with a remodeled kitchen and nice period details throughout. There’s a spacious shared yard, as well as one-car garage parking, extra storage and private washer/dryer. HOA dues are $250/month. The location at Connecticut and 18th is exactly where you want to be in Potrero, so for anyone looking for a nice condo in a good Potrero location, 365 Connecticut is it. This unit last sold for $800,000 in 2006.

Please contact me at 415.823.4656/ebermingham@zephyrsf.com if you’d like to see any of these properties. I’ll be here for the holidays.

Inventory Down, But Don’t Overlook Older Listings

It’s no secret that San Francisco housing inventory is pretty low right now. The above graph shows you how inventory levels have steadily decreased over the past two years.

So in one corner, we have prospective buyers out there who are feeling an urgent need to make a purchase, fueled by high rents and low mortgage rate. But in the other corner, we have a limited supply of homes to meet the need. What’s a buyer to do?

Answer: Don’t fall into the trap of only considering new listings. It may take a little more work and negotiating, but hunting down a home that’s been on the market for 30+ days may turn out to be the solution. With that in mind, I’m going to regularly feature trios of these types of listings across all property types and price ranges. Sometimes calling such listings to buyers’ attention gets the wheels turning.

939 Jackson #303 / Nob Hill
List Price: $869,000
2BR/1.5BA, 1131 sq ft / Built 2005
Days on Market (DOM): 75

Background: 939 Jackson #303 is one of those centrally located condo listings that makes me wonder why a buyer hasn’t yet snatched it up. The unit features an open floor plan, city views, nice finishes throughout and a limestone-tiled gas fireplace in the living room. One-car parking is included, and there’s also a shared roof deck. There are nine units in the building, and HOA dues are $396/month.

Location: Two cable car lines pass by, and the building is in walking distance of North Beach, Russian Hill, Chinatown, Financial District and downtown.

Market perspective: The average 2BR condo sale in Nob Hill from June-November 2012 clocked in at $970,758 for an average of 1280 square feet, and the most relevant comp is the 2BR on the same floor with similar square footage that sold in August for $905,000. Current list price is $869,000, down from $888,000.

290 Dorantes / Forest Hill
List Price: $1,385,000
3BR/3.5BA, 2464 sq ft / Built 1948
Days on Market (DOM): 62

Background: 290 Dorantes is a detached, mid-century single-family home with a nicely remodeled kitchen, two bedrooms on the main level and a master bedroom up. There are three decks, as well as a lovely garden. A bonus room and bath are downstairs, with a separate entrance, along with two-car parking. (And a termite inspection on file for only $3,000 in recommended repair work.)

Location: 290 Dorantes is in proximity to the West Portal retail area, and also happens to be located on a lovely, tree-lined street.

Market perspective: The property came on the market with an initial list price of $1,450,000, so the price has come down considerably since then. The 3BR/3.5BA home next door just sold for $1,485,000.

997 Carolina / Potrero Hill
List Price: $579,000
2BR/1BA, 1067 sq ft / Built 1978
Days on Market (DOM): 104

Background: It’s a challenge to find a two-bedroom condo in the city in this price range, as some of my buyer clients will attest. Take note of 997 Carolina, a well-appointed unit with a split-level floor plan that provides a nice separation between living space and bedrooms. The unit has pano views and access to a large, private deck, as well as a shared yard and one-car parking. And there’s a fireplace in the living room, too. There’s only one other unit in the building, and HOA dues are $80/month.

Location: 997 Carolina is situated in a reasonable location within Potrero that has an 83 Walk Score.

Market perspective: The unit was originally listed for $649,000, and last sold in 2006 for $665,000. The sellers just reduced the price yesterday from $599,000 to the current $579,000. Good comps for 997 Carolina are two 2BR condos that sold in June 2012 on the 600 block of Carolina for $700,000 each.

What You Can Buy In: Potrero Hill


Boasting great weather and views from the top of many of its hills, Potrero is one of the most popular neighborhoods in the city. It’s admittedly not as central as some other areas, as it is situated in the east end of town. However, there are two cute retail/restaurant strips on 18th and 20th Streets, a Whole Foods and the design district nearby, as well as proximity to 280 and the Third Street rail to downtown. In the end, Potrero is better connected to the rest of San Francisco than people may give it credit for.

The average price of a single-family home in the second quarter of 2012 was $841,545, and for a condo it was $623,320. Buyers in these price ranges will definitely get more for their money in comparison to neighborhoods such as Noe Valley, or even the Mission. That’s not to say the Potrero market isn’t competitive; the most expensive property in the second quarter was a 5BR/4BA single-family home built in 1927 at Kansas and Mariposa that traded hands for all cash at $1.5M. And the least expensive was a 456-square foot 1BR unit in the Potrero Court complex at 24th and Kansas that also sold for all cash at $191,000.

Current Potrero inventory includes four single-family homes, eight condos and one TIC. Here’s a look at a couple such properties that I think are good examples of what you can buy in the neighborhood:

380 Connecticut
4BR/3.5BAs
$1,675,000

380 Connecticut is an extensively renovated, tri-level single-family home with almost 2500 square feet. Location is prime north slope Potrero, within walking distance of neighborhood restaurants, cafes, and shops. The home features high-end finishes throughout, downtown views from three decks, and a chef’s kitchen. No garage, but there’s leased parking nearby for $200/month, and parking here isn’t highly challenging. 380 Connecticut was last sold in August 2011 amidst six offers for $900,000 in cash. The current owners are hoping their renovations will yield them a nice, updated price.

1629 18th Street
2BR/2BA
$650,000

This loft is also in an excellent Potrero location, and has two levels, a private patio and office mezzanine. The master features a lovely remodeled bath. There’s also an in-unit washer/dryer, soaring ceilings, great natural light and one-car parking. HOA dues are $485.49/month. There are 65 units in this 1995-built property. 1629 18th Street is currently tenant occupied. It was initially listed for $589,000 and went into contract, but fell back on the market and has now been relisted at $650,000.

Potrero Hill Snapshot
Pros:
Nice weather
Views from many homes
Nice retail districts
Proximity to freeways, rail line

Cons:
More remote San Francisco location
Mix of industrial/commercial can detract from charm
Residents rely more on bus lines than BART/rail
Crime can be an issue due to nearby housing projects

More Potrero Resources
Zephyr Neighborhood Profile
Nabewise Potrero Profile

Preview: Millwheel South in Dogpatch


I toured the new Millwheel condos at 1301 Indiana/1280 Minnesota in the Central Waterfront/Dogpatch area this week.  The Millwheel South project consists of two buildings featuring a total of 32 units, with Millwheel North’s 39 units slated for construction in the not-too-distant future.

There is one 1BR unit available at Millwheel South ($569,000/727 square feet). However, this project primarily features spacious two- and three-bedroom condos across four floors. Pricing ranges from $649,000 for a 1,115-square foot 2BR/2BA on the first floor, to $799,000 for a 3BR/2BA with 1,360 square feet on the top floor. (Some units have as much as 1600 square feet.) Finishes are lovely, and include wide-plank, matte oak floors, imported Italian tile and Elfa closet systems. Kitchen appliances include Frigidaire refrigerators, dishwashers and ranges, as well as Bosch washer/dryers.

I looked at units on each floor and thought I’d share a few highlights. #203 is a 2BR listed at $749,000 and is 1600 square feet. Here are a few shots of its kitchen, master bathroom, and living area:


#203 faces Indiana Street, which means you have a dead-on view of the 280 ramps. So if you have the windows open, you will hear traffic noise. However, there is a lovely garden that’s been recently planted; I think this will help buffer things (below):

#204 (3BR/2BA, $729,000) across the hall fronts the courtyard between the two Millwheel South buildings (below). This is definitely the quieter side of the building, though your outlook is of the neighboring units:

I walked through #401 (3BR/2BA, 1,360 square feet, $799,000) and thought it had a nice floor plan. Here’s a shot of the living area, so you can get a sense of the view and space (below):

The bedrooms in #401 face Indiana, so that may not be ideal for those sensitive to traffic noise.

Some of the first-floor units enjoy deeded patio space. Here’s a look at the patio for #102 (3BR/2BA, $735,000) which spans the entire unit. It’s a nice setup, as you gain a little more privacy (below):

Purchasing a unit in the 1280 Minnesota building will give you the opportunity to have an eastern outlook, which mitigates traffic noise and lets you avoid the 280 outlooks. Here’s the outlook from my #304 in 1280 Minnesota (below). This is a 2BR/2BA unit with 1144 square feet, listed at $729,000:


As you can see, all outlooks are of the urban variety, and buyers for this project have to be comfortable living in an area that is still in transition with respect to the mix of residential and commercial/industrial properties.

There is a deeded parking space for each unit; however, if a buyer elects to purchase a unit without parking, they’ll reduce the price of the unit by $25,000. There is an elevator in the building, but no roof deck or other amenities.

My take on Millwheel South is that it’s a good fit for 280 and downtown commuters. It’s a bit on the outskirts of the Dogpatch area, but certainly in walking distance to the restaurants, cafes and bars in the neighborhood:

However, what you sacrifice in location you gain in space; at roughly less than $500 per square foot, 1301 Indiana provides much more value than new construction condo developments in more central areas (i.e., 299 Valencia).

There are presently 11 units in contract at Millwheel South, so there are plenty remaining. Give me a shout at ebermingham@zephyrsf.com / 415.823.4656 if you’d like to schedule a tour!

A $2M Home in An Unlikely Place: Dogpatch

It’s easy to hit neighborhoods like Noe, Eureka and Cole Valleys to see $2M+ homes on broker tour. But in addition to heading to those ‘hoods yesterday, I decided to check out a newer listing in that price range in Dogpatch, a neighborhood that doesn’t typically offer single-family homes at this price point.

Real estate inventory in Dogpatch, also known as the Central Waterfront, is primarily comprised of condos. The area is a mix of residential, commercial and light industrial. New construction condo buildings have gone up since the 1990s, but are in limited supply. Tennessee and Minnesota Streets feature a smattering of Victorian single-family homes, and that’s where I found myself yesterday on broker tour.

I checked out 1067 Tennessee, a 4BR/5.5BA Victorian home recently listed for $2.1M. Last sold for $615,000 in April 2008, the current owners have transformed the property into a contemporary showcase across three levels, with about 3,192 square feet.


The open floor plan hits you right away, as there’s no foyer to usher you in. The usual high-end finishes and appliances are there, such as a Bertazzoni six-burner range and marble counter tops.

Each level provides great space and a very appealing architectural aesthetic. However, the rear outdoor spaces are the epitome of the Dogpatch feel; the concrete patio backs up to a building covered in corrugated metal, and the area is dominated by hardscapes.

I think there’s a much more specific buyer pool for a property like this, given the price point and surroundings. The sellers are probably looking for the same type of buyers who purchased the only other $2M+ single-family home that has sold in the neighborhood over at 690 18th Street at Tennessee. That was a two-level house with an attached 4,000-square foot warehouse that changed hands in April 2011 for $2,449,000.

So buyers are out there for these more individualized homes. But I think these types of sales are driven more by buyers who perhaps have a business in Dogpatch and would want to be near their shop or office. Dogpatch has really changed a lot in the past decade, with an influx of businesses, restaurants and cafes. But with housing stock dominated by smaller, less expensive properties, the luxury single-family home market may not be as strong as it is in other neighborhoods.

New Mission and Dogpatch Condos on the Way

Two new condo developments in the Mission and Dogpatch/Central Waterfront are on the way this Spring, with price points that don’t scream “luxury.”

299 Valencia will feature 36 one- and two-bedroom homes ranging in price from the $300,000s-$700,000s. The building is located on Valencia at 14th Street. (The lot was previously used for parking.) The immediate location is a bit transitional, but you’re one block away from Pauline’s Pizza and shops/cafes along Valencia. The 16th and Mission BART/Muni station is nearby, as well as the 101 and public transportation along Market Street. I think 299 Valencia will be a good option for buyers looking for mid-range housing in a central neighborhood. Check out the 94 Walk Score details. The sales office is expected to open in March.

And the other hot development is over Millwheel, at Indiana and 23rd Street. There will be 71 homes available, split into two phases—Millwheel South (32 units) and Millwheel North (39 units). Pricing will be in the $500,000-$800,000 range, with units weighing in at 1200-1500 square feet. Word is that the sales office will open in March for Millwheel South, with the second phase opening in 2013. This location is great for accessing freeways, the Third Street Muni rail line, and Dogpatch restaurants and cafes (though some may find it to be a little too remote).

Contact me if you’d like me to keep you updated on the best times to tour these properties.

Luxury Townhouse in Odd Mission Location Gives It Another Shot

The luxury condo market is challenged these days, particularly when such a unit is in a weird location. Situated on the Mission/Potrero border adjacent to a Safeway loading area, 141 Hampshire #B has been on and off the market since 2008. And it’s making a return appearance in 2012.

The 3BR/2BA, 2790-square foot townhouse is certainly spectacular enough. It spans two levels and features double height windows, two walk-out terraces, a private roof deck, and city, Bay, bridge and Twin Peaks views. The unit was built in 2001, so it has somewhat dated finishes at the moment (think granite counters). But you also get one-car parking and in-unit washer/dryer. I remember being pretty impressed with the space when I toured it a few years ago.

The property was listed back in 2008 for $2,788,000, believe it or not. Then the seller changed agents and dropped the price to $1.7M in 2009. When that strategy didn’t work after 244 days, they let the listing expire.

But now, I get the sense the sellers are thinking the 2012 market is a good one for 141 Hampshire #B. Because this time around, they’ve bumped up the list price to $1,795,000 (and are now on their third real estate agent). Considering there are nine other condos listed in San Francisco in the $1.5M – $1.9M range, it’ll be interesting to see if a buyer is willing to overlook the unglamorous Potrero Avenue/grocery store loading location. But the views could potentially make the sale happen this time around.

Potrero Cottage a Cool Condo Alternative

The two-bedroom cottage at 655 Mississippi may be the cute, well-appointed house Potrero buyers have been waiting for in the new year. Listed at $699,000, the home has a lovely open floorplan that features a side deck right off the remodeled kitchen.

You wouldn’t know it from the exterior, but 655 Mississippi has vaulted beamed ceilings, two large skylights, and a gas fireplace. The kitchen even has wine storage and an island with breakfast bar, as well as a sizeable yard with a detached bonus room at the rear of the property.

 And the best part? No one living above or below you, and no HOA dues.

Now, the house isn’t huge—tax records show about 1000 square feet—but sometimes it’s all a matter of how well the space is laid out. And there’s no garage, which could be a dealbreaker for some.

The 600 block of Mississippi isn’t a particularly poor location; it’s important to note that your neighbors are a mix of residential and commercial. However, if you walk out your door and hang a left on 22nd Street, you can hit all the Dogpatch restaurants and cafes that have sprung up over the past several years.

The property last sold in 2004 for $759,000, so let’s give the sellers credit here for being realistic in the current market with their list price.

Open Sat 1/14 and Sunday 1/15 from 1:00-4:00.

 

Top 10 Neighborhoods for Commuting to Downtown San Francisco

One of the more popular requests from my new buyer clients is that they need to live in a neighborhood with easy and relatively quick rail or bus access to downtown San Francisco. So I thought I’d pull together a list for all those prospective home buyers and downtown commuters out there who may be considering a home purchase in 2012. I’ve also linked each neighborhood to its corresponding profile on my Zephyr company site, so you can see stats and available homes. And if you want Muni maps, click here.

1. Noe Valley. Yes, everyone loves Noe for its retail area, wide streets, and overall appeal. But it’s also excellent if you need to get downtown regularly. The ideal commuting section of Noe is anywhere east of Sanchez. From there, you can walk to the J Church, and also to the 24th Street BART station.

2. The Mission and Mission Dolores. Just next door to Noe is the popular Mission district, with its hot Valencia restaurant/shop/cafe strip. The Mission is directly served by the BART line, which runs downtown and into the East Bay. Ideal areas of the Mission would be within blocks of either the 16th or 24th and Mission stations. And on the Mission Dolores front, you have your 18th Street BiRite/Defina/Tartine empire, which are great places to stop off on your way home from the 16th and Mission BART station, or the J Church.

3. Glen Park. In the heart of Glen Park’s downtown area is the BART hub. This is pretty accessible from most parts of Glen Park, as well as the more northern section of Mission Terrace and the eastern portion of neighboring Sunnyside.

4. Lower Pacific Heights. No rail lines service this area, but buses run frequently to and from downtown on practically every east-west street, including California, Pine, Bush, Sutter, and Post. There’s also an excellent stretch along Fillmore that offers a variety of restaurants, shops and cafes.

5. Cole Valley.  A bit more low key than its Haight Ashbury neighbor, Cole Valley is served by the N Judah. The station is located on Cole, adjacent to about three blocks’ worth of restaurants, shops and cafes. The train can get pretty crowded at peak times, but it’s definitely a direct line to downtown.

6. Duboce Triangle. The N Judah also runs through Duboce, but the residents of this very small section of San Francisco can also walk over to Church and Market for the J Church.

7. Eureka Valley/Castro. The Market and Castro Muni station is ideal for Castro dwellers, who have a variety of train lines running to downtown.

8. West Portal. Sleepier than some of the aforementioned nabes, West Portal is a very cool area with a mom-and-pop retail strip that’s pretty much the opposite of Union Street. The area is served by the L Muni line. It may take a little longer to get downtown from this western San Francisco location, but West Portal is the most convenient area west of Twin Peaks for commuting.

9. Hayes Valley. Also the keeper of a hot retail area, Hayes Valley hosts a variety of bus lines that run to Market Street, or you can walk over to the Muni stations at Market and Van Ness or Civic Center to get downtown. You can also walk downtown on a good day.

10. Dogpatch. Otherwise known as the Central Waterfront, Dogpatch became the beneficiary of a bonafide Muni line back in 2007. The T spirits residents from the easter edges of the city right through Mission Bay and past the Giants’ ballpark. And Dogpatch’s growing number of hip, high-quality restaurants are making it a destination for foodies citywide.

 

What You Can Buy for $500,000

Half a million in San Francisco will typically land you a studio or one-bedroom condo. I thought I’d round up some of my recent picks in three different neighborhoods so you could see what space and amenities you could have in this price range.

First up is 1734 Bay #205 in the Marina:

1734 Bay is located on a fairly busy stretch of road, but it’s wildly central to Chestnut Street, the Marina Green, Safeway and Crissy Field. This 1BR/1BA listed at $499,00 is an end unit that includes deeded parking, deck, elevator and laundry room on the ground floor. So no dragging your dirty pants up to Chestnut Street to have them cleaned. There’s a galley kitchen, wall-to-wall carpeting, and ample closet and storage space. HOA dues are $378/month. Yes, this is a short sale—and the unit is tenant occupied—but at this price point in the Marina, it’s not a bad deal.

We move on to Potrero Hill and check out 1695 18th Street #304:

I showed this 1BR/1.5BA loft a couple months ago when it was initially listed for $539,000. It’s now been relisted for $499,000, which may or may not be enough to convince a buyer to make an offer. The unit is lovely, but a bit small. However, it has city views from the sleeping level, and is located within a very cool artist building with nice common spaces. 1695 18th is also in a prime Potrero location near all the restaurants, shops and cafes that make Potrero one of the more desirable places to live in San Francisco. HOA dues are $225/month, which is pretty low, and they actually cover earthquake insurance, which is rare. (Oh, and I couldn’t find a decent link to a property site, so you’ll have to take my word for it on the details.)

Our last stop is 88 Townsend #303 in South Beach:

So 88 Townsend is probably my favorite South Beach building. I helped my client purchase a studio there last year, and fell in love with the building even more. #303 is a junior 1BR with one bath, deeded parking and storage. The building was constructed in 2004 and is one block from the ball park, Tres, and all forms of convenient public transportation. Yes, this unit is tenant occupied, but it’s being represented that the property will be vacant by close of escrow. HOA dues are $402/month. The building has an amazing roof deck, and you’ll also get excellent weather in this particular micro-climate. Last sold for $545,000 in 2007, list price for 2011 is $499,999.

Gem of a Loft, Battle of the Hills and More

This issue of MarketTracker is packed with cool info. Check out the deets on 110 Freelon, a $3.1M warehouse loft conversion, and decide how a few Potrero vs. Russian Hill properties measure up. Plus the latest San Francisco sales.

It’s all here in the MarketTracker Report.

What You Get For: Below the Average Price

We know the average price in San Francisco for a single-family home tends to be higher than that of California—as well as the rest of the country. The average house price year to date is $923,979, and the high dollar amount is due in no small part to the 55 houses out of 430 sold that changed hands for above the $1.5M mark.

I thought we’d check out four nice homes that have been recently listed for below the average price:

1509 47th Avenue, Outer Parkside
$689,000 3BR/1BA
The above beach house is solar powered, with a lot of little “green” touches throughout. It was last sold for $650,000 in 2004 and has been remodeled since then. The home features refinished wood floors, three bedrooms on the same level, a sunroom, and an eat-in kitchen with Marmoleum floors and Richlite countertops. There’s also a deck, cute garden and two-car garage. Plus, you’re a block from the beach.

We head further east to our next property in Miraloma Park:

124 Juanita, Miraloma Park
$879,000 3BR/2BA
This two-level, 1930s home has lovely period detail and a nicely remodeled kitchen. All three bedrooms are upstairs and there’s a living room with a wood-burning fireplace. 124 Juanita is right off Portola, so you’re close to the Mollie Stone’s shopping strip, as well as the Forest Hill Muni station. If you head further east on Portola, you’ll hit West Portal and its shopping/transportation area.

Next up is a stop in Bernal Heights:

137 Winfield, Bernal Heights
$629,000 2BR/1BA
This Victorian home is located in the prime north slope area of the neighborhood. It’s clean and in move-in condition, but could certainly use some updating. There’s no garage, so if you’re dead set on having parking, this is probably not the home for you. There are also some very nice views. You’ll have proximity to the Cortland retail strip, as well as the restaurants on/off Mission (Locavore, Emmy’s, Blue Plate, to name a few).

We end our tour in Potrero Hill:

1056 Carolina, Potrero Hill
$799,000 1BR/1BA
If you’re the Victorian cottage type, this home will fit the bill. It’s on the small side with about 1080 square feet, but has major views, a lot of charm and an unwarranted in-law with a private side entrance. So you can still have guests (or even tenants for some extra income). The front and rear yards are nicely landscaped. This isn’t ideal Potrero, locationwise, as you’re a little further southeast than most people want to be. But the house definitely smacks of San Francisco character.