Rent to Own at Cubix Yerba Buena

I toured the units at Cubix Yerba Buena over on Harrison at 4th Street several months ago. Though very small, all the studio condos were nicely designed and efficient, with list prices in the $200,000-$400,000 range. I was kind of into the very walkable location, and thought the building would be great for first-time home buyers or empty nesters looking for a pied-a-terre in San Francisco.

Now the folks at Cubix are offering a rent-to-own deal on the “penthouse” units–you can start out renting at only $995 per month, with the goal of owning your unit, which is priced at $225,000. Though that doesn’t include parking, you’re very near public transportation, and there’s a City Car Share pod in the garage. Not a bad way to get a leg up on your first home in the city–or your second home, for that matter.

2 responses to “Rent to Own at Cubix Yerba Buena”

  1. mark snyder says:

    Hi!
    could you explain further what rent to own means? At the cubix, would part of that rent go towards a downpayment on the home?

    Do you think the cubix has any potential for resale on the units since they are so incredibly small?

    My partner and I are interested but hesitant…

  2. insidesfre says:

    Mark–Thanks for your comment. I’m not sure exactly how Cubix is structuring the rent-to-own option. But what the concept means is that your rent payments ultimately go toward the agreed-upon selling price. So you would typically sign a contract agreeing on what the sales price would be, and over time, your rent payments are counted toward that price. At some point, buyers & sellers agree that the balance of the payment is due, and you then pay that amount and complete the sale.

    Downside is that as time goes by, the market changes and either buyer or seller can end up in a disadvantaged position. However, if you are interested, I’d recommend contacting Cubix and determining the details on what they’re offering.

Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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