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 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
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
Views from many homes
Nice retail districts
Proximity to freeways, rail line
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