These Were Some of The Cheapest Homes Sold in San Francisco in 2014
Update: I was wrong these are some of the cheapest homes sold in SF in 2014.
Miriam Westberg, a Redfin real estate agent in San Francisco, compiled a list of some of the cheapest homes in San Francisco with a little insight about their price point. That said, if you are interested in buying property in SF check out our guide to buying Below Market Rate Housing.
There were over 760 homes sold for over a million dollars in San Francisco and that was just in the third quarter of 2014. What’s a person of modest means to do? Earning more than $80,000 per year, the median household income in The City, means you won’t be able to buy a Below Market Rate home. And unless you’re making A LOT more than the median household income, you won’t be able to afford San Francisco’s median home price of $940,000 either. But home-ownership isn’t an impossible dream, however unlikely. These were some of the cheapest homes bought in the city last year that weren’t part of the BMR program, deed transfer, or non-arm’s length transaction where the buyer and seller do not act in their best own self-interest.
Common themes arise:
BYO contractor for Bayview/Hunter’s Point homes.
And the occasional 1 BR condo that is likely in a part of town where you won’t any tourists.
Then there’s this unicorn:
Location: 272 Granada
Sale Price: $440,000
List Price: $399,000
Days on Market: 8
What it lacks in curb appeal is made up for with a gorgeous, updated interior. Hardwood everywhere gives it the warmth of a cabin and they miraculously fit a washer and dryer inside its cozy 796 square feet.
Microunits:
Location: 766 Harrison St #307
Sale Price: $335,000
List Price: $335,000
HOA: $265/month
Sq. ft: 278
Days on Market: 8
The Microunits:
Mocked in 2010 with list prices as low as $199,000, seven of these tiny condos were sold in SF in 2014. The cheapest of them sold for its list price while a corner unit with a wrap-around deck went for $389,000. Evidently, they’re aware that a normal soul would likely go insane after too much time spent in a shoebox, with “investment” or “Pied-a-terre” appearing in descriptions.
The Studio example:
Location: 520 Natoma St #7
Sale Price: $291,000
List Price: $299,000
HOA: $198/month
Sq. ft: 350
Days on Market: 117
This studio was updated inside and the right price, but the fact that it was a Tenancy in Common may have contributed to it being on the market for a relatively long time
A bedroom of one’s own:
Location: 3336 San Bruno #101
Sale Price: $315,000
List Price: $279,000
HOA: $250/month
Sq. ft: 712
Days on Market: 15
Look at you with your one bedroom corner unit! And well under $400K. Not bad! A walled-off room in which to sleep is a highly desirable amenity. Overall, it appears to be a great deal, considering this one-bedroom, one-bath in Candlestick Point went for $400,000, although it is fully updated and came with a parking place.
BYO Contractor:
Location: : 1354 Quesada Ave.
Sale Price: $360,000
List Price: $295,000
Sq. ft: 1,534
Days on Market: 9
Bring your carpenter to the Bayview! But hey, lots of room for a car collection or more house. $360,000 doesn’t seem bad for a house you won’t be able to move into for several months when this one went for $450,000
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