House Flippers Hit 2014 Market

Many contractors and small-scale developers who snapped up properties with their cash in the last two years in San Francisco have completed high-end renovations and are now listing those homes for sale. They were able to buy at a time when the market wasn’t quite as hot as it is right now. And we all know that the successful flip largely depends on timing.

Here are three flips that recently came on the market, with their before and after renderings:
212 & 212A Chattanooga
Noe Valley

3BR/3.5BA (front) / 2BR/2BA (rear)
List Prices: $2,495,000 / $1,595,000
212chattanooga_before
212chattanooga
212 Chattanooga is the front house on a lot that holds two renovated houses. The front (above) was purchased in September 2012 for $750,000. It’s now a three-level home with a tiered main level that has direct access to a west-facing yard.

The rear house, 212A Chattanooga, was sold in the same timeframe for $450,000 as a tenant-occupied cottage. This property is accessed via a walkway that runs alongside 212 Chattanooga. There’s no parking for the rear house, but the idea of a “Vespa pad” is cute:
212achattanooga_before
212achattanooga
I liked both houses, though the downside to the rear property is that it’s oriented toward a large, unattractive rental building. Getting to and from the property isn’t glamorous via the narrow walkway. But the location is excellent, and I think it’d be ideal to purchase the entire property as a family compound. [Read more…]