I’d love to poll the great minds there to see what I should do with this property.
Lately I was able to pick up a SFH with 1 car garage for about 800 / sq ft. It is in an RM3 zoned district — one of very few SFH left in this area.
The new Subway line from 4th/king and Moscone will be running right by it (a few blocks away) in two years in 2019 so transportation in the future will be excellent.
There’s 4 bed / 3 ba and a huge office space down below (no in-law). The drawbacks are that it is in dated (but usable) condition and there’s not enough natural light in some of the room because everything else around it are taller 4-plexes and 12-plexes and stuff like that. Also because the neighbors around it are in 4-plexes and 12-plexes, these are often not the “young DINK 30-something year olds that work in tech/finance” that I go for as renters.
What would you all do with this property? My thoughts are -
a) redo bathrooms, add lots of high quality LED track lighting, repaint outside to modern fashionable colors, and add outdoor sconce lighting. Attract higher income folks for rental.
b) collect rent for 5 years
c) Then see what happens? Do I remodel the whole thing, get a ton more light into it as a SFH, and then flip once the subway has been open for a few years?
d) Or do I explore going even more crazy and building 3 condos on the site and then sell??
Your thoughts are appreciated.