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Property Q&A in 94110 : Real Estate Advice

  • All80
  • Local Info8
  • Home Buying43
  • Home Selling6
  • Market Conditions2

Activity 13
Sun Jan 22, 2017
Castl4 asked:
We currently live on the top floor of 2 unit TIC and would like to expand by adding a master suite, walk-in closet and bathroom to the current flat roof of our home. Ideally we're thinking…
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Tue Dec 6, 2016
Shawn Kunkler answered:
Tricky question! Our housing market is comprised of single family homes, condominiums, co-ops and TICs within 10 very unique districts. Within each district are another handful of subdistricts. Offering an average price per square foot for all of San Francisco is as challenging as giving the average temperature of the US, if that makes sense?

Here is a district map to help narrow your question and would be a little easier over the phone.
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Fri May 22, 2015
Morse.joe answered:
We've had a policy with Travelers (through Mahoney Walker agency in Alameda) for 5 years, but they just jacked our rates after a small claim so we're shopping the policy. We've had Farmers in the past, but they did the same thing and sold us short. ... more
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Sun Feb 22, 2015
Fouzia Zaheer asked:
I would like to change the photos

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Wed Jul 2, 2014
Davidpark0912 asked:
my email is

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Fri May 23, 2014
rachel halliburton asked:
This question was asked from this property:
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Mon May 5, 2014
Yang asked:
Hi there! I saw your listing on trulia. I am wondering if the rooms are still available. If so, would it be possible for me to visit? I have a family of four. Me and my husband, and his…
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Mon Jan 24, 2011
Lajja answered:
Thank you all for the very wonderful comments. The 2 unit TIC that I am interested in is on Cortland avenue, sort of mid-way in Cortland (by Bocana). After reading all the comments it seems like parking would be a problem especially since the property is on Cortland and where parking is scarce. Also I will have 2 cars so it might be frustating to look for parking everyday. I was unable to find any parking lots in the area unless any expert out there knows of any.

Wow I also didn't realize that even though 2-unit bldgs pass the condo conversion lottery, it can take upto 2-3 yrs for the process to complete. The bldg and the unit itself is absolutely brand new with all the upgrades recently completed so I would not have to spend a penny in remodeling the place. I wonder how much of an upside would this property get once it's converted to a condo? The current price is about $570k.

One more thing- The unit has a commercial space downstairs for sale so if that were to end up being a coffee shop or a store would the property value be lowered?

gosh its so hard to deceide. Please help once again.
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Tue Aug 11, 2009
Laura Lambert answered:
Check the City’s website on requirements for how 2-unit buildings* can bypass the lottery

To summarize their information:
- Each unit must be occupied by separate (unmarried) individuals for one year
- Each owner must have a minimum 25% ownership (during the entire occupancy period)
- Building must have a clean eviction history and no evictions of elderly (over 60) tenants who resided in the building for 10 years, or disabled or catastrophically ill tenants if evicted after November 16, 2004

*Lottery bypass also applies to mixed-use buildings with two residential units, each owner occupied.

I have not heard of any condo conversion restrictions that relate to financing except the ownership provision (you each need at least 25% ownership). Check with your lender about loan qualification - it is possible to take title together on a regular loan – the usual way for unmarried persons is as tenants-in-common where you designate you each occupy separate units. Individual (aka fractional) loans are also available, but with larger downpayments and higher interest rates. Be sure you ask your lender if you can keep the loan after conversion since the type of loan you get could determine ownership post conversion - my understanding is with a single loan, if you both own 50% before conversion, you would both own 50% of each condo after conversion.

How you hold title can have both legal and tax implications, so be sure to check with your attorney and tax advisor before entering into a contract.

This ownership model has been used for years by people who want to build wealth through real estate. I have met a number of successful real estate investors who started out in college buying a duplex and taking on roommates to virtually offset their housing expense.

Good luck!
You will find the City’s condo application at:
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Sun Jan 25, 2009
Jed Lane answered:

When you buy a property that has an existing tenant the tenant's lease or month ot month arangement is carried forward untill the tenanats anniversary. Then you can raise the rent. but only by as much as the SF Rent Board allows that year.
It doesn't matter if the property is in default, bank owned, a short sale or any other transaction. The tenant has rights in San Francisco and both SF a California have laws restricting eviction. By the way, be aware that there are two areas of legal information that many prople confuse as one. There are rent control laws and there are eviction control laws. They are not the same.
This looks like a good price, with one unit vacant, but I would suspect that the other has very low rent and possibly a protected tenant. (San Francisco local eviction laws).
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Thu Dec 4, 2008
Jed Lane answered:
I checked the tax records and it shows the same info for the last transfer. It was purchased by an investment group so there could ahve been other value exchanged. The tax appraisal is in the $700K which is still low and yes it is the one that has been boarded up. ... more
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Wed Oct 22, 2008
Nancy Corsaut answered:
Hi Mitzy,
It appears from the comments in the MLS that all three units were tenant occupied. However, two of the units were rented to family members who were planning to vacate at the close of escrow. The MLS is only showing rent for Unit #1 at $700 per month, so I can only assume that this was the unit that was going to remain tenant occupied. I hope this helps. ... more
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Tue Oct 21, 2008
Cheryl Bower answered:
Hi Mitzy,

The MLS indicates the 3 units are owner occupied & will be delivered vacant- a good thing if you're looking for investment property since the units can be rented at market rates.

SF still has a strong rental market, especially if one is renting pet-friendly units since these typically are in short supply. I own a multi-unit SF property and also help clients lease their vacant units. I'm happy to answer any questions you might have about the rental market or S.F. investment property.

Cheryl A. Bower
Realtor , GRI, ABR
Cell 415.999.3450
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