So far, yes
Can I assume you have done one of these 1031 exchanges yourself where you eventually moved into the target exchange property at some point and then even sold perhaps?
But I have three current exchanges properties. With very low basis. Meaning I can’t afford to sell without huge taxes. Was planning on moving into one because it’s in Nevada.
Might still do it long term.
Its no secret that I am a fan of Chinatown and the border between Nob Hill and Chinatown but I think there is great long term potential there.
All those new office buildings in FiDi/SOMA being built. That puts pressure on housing. Yes big time developers are putting all all kinds of residential towers — but that just makes “old SF” with the cable car lines all the more special and scarce. I think of Greenwich Village vs. tall Manhattan towers, for example.
The T-line subway stop at Washington and Stockton. With transportation comes new blood, and new demand for improved retail. Even in our little microcosm, just look at retail situation — commercial retail space is having a difficult time these days. However @ Irving and 9th - its great. Why? N-Judah. Retail situation at West Portal - its great. Why? the big train station. Retail situation at Glen Park BART station - its great. Because trains.
The sunset is booming but this is because it is a good alternative — somewhat cheaper than the east side — and the big drawback is that you have to contend with the fog in the summer months. (and I live in the sunset) — but the east side — always sunny - the weather there is fantastic which is particularly good for older joints.
Now, you have a rental in Chinatown if I remember correct? Is it your plan to eventually head there too? Now, keep in mind while we boys think it is a grand old idea I still have a wife to convince. She is expecting the building to be ultra modern with parking. I think if I net over 1M easily from Sunset sale and give her that dough she better be accommodating…
Yes, I have small number of rentals in the area, up the hill from Chinatown proper and in Nob Hill. My wife wants exactly the same thing you want. Once the kids leave the house she wants me to redo one of the buildings in an ultra modern style with parking ----- then we retire, move into the building and enjoy the walkability and sunny weather in our retirement.
But the T line stop in Chinatown is right on Stockton, where people handle raw meat the old fashioned way. Hard to imagine “new retail” in that location.
Yes, I agree it is hard to imagine. The first new retail will start INSIDE the station. The initial concepts show retail colocated in the station - simiar to how it is done in Asia. Once property owners see how much money there is to be made, things will change.
What happems if you don’t follow the rules?
Only the really finicky, traditionalist would look at you in disdain. Me, I ask for a fork all day…
Pretty sad that there are more visits to chinese restaurants in Phily and OKC than the world class city of San Jose…
For Americanized Chinese food I guess.
Speaking of snails…