The Sunset Rocking The Overbids!

sanfrancisco

#404

When it is this cheap you don’t think about appreciation. You think about money already saved!!!
Compare to this one on 19th as well sold for $1.4M:


#405

Why would someone pay that much to be on a freeway? At that price, you can easily buy something decent on a quiet street.


#406

Maybe you underestimated the value of homes on the busy 19th. Time to re-evaluate!

Also, that one that sold for $1.4M needs a big exterior makeover and is far from perfect.


#407

Location is the #1 criteria one must always consider. Keep in mind that you aren’t limited to having to only buy on 19th Ave. You have alternatives, much better alternatives.


#408

You can pick and choose on 19th too! I would definitely consider buying something there for 875k but NOT 1.4M…


#409

It’s yours…I’m shopping elsewhere

What ends up happening I suspect if you own on 19th Ave and rent it out (and this could apply to any other “bad” located rental property) is that people may move in (because they have to, no choice) but they will end up leaving after the one year lease is up. No one is going to enjoy living on such a busy street, the noise, the pollution, the difficulty in getting your car out of the garage. If you like turnover, this would be it. I prefer tenants that stay a few years to keep the expenses down and cash flow flowing. The less the down time the better…


#410

Actually, I do have a property on a busy street (NOT as busy as 19th though), but tenants have stayed there for a long time. I also have another property on a quiet area, but had to switch 3 tenants in less than 2 years. So, I don’t think there is necessarily a correlation between busy street and turnover rate.


#411

Small sample too…I am just saying how I would approach it. If you have better luck buying less than attractive located properties you need to do seminars around the country…:grinning:


#412

I certainly wouldn’t avoid busy streets… that’s where you can get the DEALS…


#413

Well, we have discussed this before with other members here… we all have our own strategies. No question, that’s where the pricing will be better but again one has to ask why is it cheaper? Because of X…


#414

#415

I am impressed with the remodels lately. Very nice.


#416

$1150 per sqft. No pics though


#417

Wow, good one…I take it with that kind of design, probably no ability to do an inlaw without raising the building or extending back, right? People are crazy for Sunset. And you know from the sale price what kind of people we are talking about…


#418

Well, says potential for expansion… ok, maybe…

And, who is the selling agent again??? My man, The Machine, time to pick up your weekly commission check…


#419

Good point, I should have posted this one in The Machine thread :blush:


#420

Another solid Central Sunset tunnel entranced home locking up 1.33M, 350K over asking…


#421

Isn’t $1.33M considered a steal nowadays in Central Sunset? What’s going on?


#422

Not a steal by any means but yes this one is nicely remodeled and should’ve sold for more if you compare to the other comps.


#423

But what is the discount for a tunnel entrance?