It happens… and a great opportunity

[Update 3/30/07: "Pending" as of today...that means it's pretty much a done deal.]
2356larkin.jpg 

2356 Larkin, a two bed, one bath condo in Russian Hill, hit the market for a day at $1.5MM, received an over asking offer, then promptly fell out.  Now it sits. Just look past the zebra rug and wall art (we understand it is all subjective), and you’ll see what we see….a great home in an excellent location.  That price might be negotiable at this point too.  You never know.

2356Larkin.com
[pic taken from property website]

Reason we live here #1

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There are many reasons why we love San Francisco, one of the top being the unique real estate in our town. Take a look at 3335 Clay, a 2bed, 2 bath condo in Presidio Heights asking $1,125,000. From the text it sounds like just another condo, but you owe it to yourself to check it out. Keep in mind it may not be your thing, but it is an interesting, charming property with TONS of San Francisco “feel”.

3335 Clay Photo Gallery

Ask an Expert (Sven Lavine), Inner Parkside Weather and height restrictions

“I enjoy reading your newsletter and your blog. Thanks for all the helpful info. Would you mind helping me better understand Inner Parkside w/respect with the weather? We’re looking at a home on the west side of 16th; does that mean we’re doomed to being shrouded in fog? Also, more importantly, is it virtually impossible to build upward (one story) in this neighborhood? Or will we have to go back, essentially eliminating the home’s small backyard?
Thanks,
Pete”
———————————-
As answered by Sven Lavine, of Sven Lavine Architecture

Hi,

I won’t get into the weather, but regarding the expansion, technically, you probably would have a 40 foot height limit in Inner Parkside. But what would actually be allowed by planning would depend on the predominant character of the neighborhood. If there are other adjacent houses which are taller than your potential home, you stand a better chance. If not, you may be able to build something that is set back from the front of the house in a way that the perceived mass is reduced. As is always the case in San Francisco, neighborhood opposition can stop the project, so get your neighbors and architect involved in the beginning.

Good Luck,
Sven Lavine, AIA

Now we’re talking!….Bernal again…and again.

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On March 13th, we told you about 3335 Folsom, 3 bed, 2 bath, $1,395,000 Single Family residence in Bernal Heights that had just hit the market. It was like bees to a hive at the open houses, lots of showings, offer date was set, interested parties were there, alas………..no offers!!!! Sometimes this happens. Buyers don’t want to be in a bidding war, so nobody steps to the plate. This could be a good opportunity for someone.

Now We’re Talking!…Bernal Again.
[pics and info taken from www.talklein.com, a member of sfnewsletter]

Developing Hunters Point

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“The neglected areas of San Francisco’s southeast shore would be remade into a destination spot with a new football stadium, hundreds of acres of open space and thousands of new homes…”

“As it did for the San Francisco Giants’ waterfront ballpark, the city would contribute the land. Lennar (Lennar Corp. of Miami, a Fortune 500 company that is leading redevelopment efforts at former military bases on Treasure Island and Mare Island in Vallejo.) says it would contribute $100 million in cash and help finance the stadium’s infrastructure, including parking, roads, electrical lines, sewer pipes and water service.”

We’re all for it, and if it takes making the 49er stadium the rallying cry, then so be it.

S.F.’S GRAND PLAN FOR 49ERS
STADIUM PROPOSAL: Thousands of homes plus shops and parks on the city’s southeast shore
[sfgate]
[picture from sfgate article, photographer Judith Carlson]

Ask an Expert (Eddie O’Sullivan), better to have SFR or 2 units in Cow Hollow

“Hi there:
I own a two-unit, two-story building on a lot that is 45 feet deep in Cow Hollow, in an area bounded by Union, Pierce, Chestnut and Buchanan Streets. I am trying to decide whether or not to try to merge the units legally into a single dwelling unit. It is clear that the process is complicated and not a slam dunk (in fact, the City is currently considering making it even harder to merge units) but it is still pretty tempting to try. What I would like to know is, is the building overall worth more as a two-dwelling-unit building, or would it be worth more as a single-family home? Is the answer to this question likely to change over time? Please assume that I have no tenants in either unit for the purposes of this question.
A short description: each unit is approximately 850 square feet. There are three small-ish rooms in each unit, plus a single unrenovated bathroom and a kitchen. The house was built in the early 1900s. There is a full basement under the structure.
Two things I forgot to add in my original letter are (i) that the house is located on an “alley,” and (ii) that there is no garage. Don’t know if that matters or not.
Thank you for your help!-DK”
————————-

As answered by Eddie O’Sullivan of Hill & Co. Real Estate, BuySellMySFhome.com

I have an Architect friend who worked on a project that paid for a study to be done on the process and likelihood of converting two units to one, in this area. He gave me a copy so if you’re interested just shoot me an email and I can snail mail you a copy (I’m not soliciting, there is no other way to do it.)

But I think the highest and best use for your property is for it to remain as a two unit! That way you do not have to waste lots of time and money with the city merging units. If you’re remodeling you just build a “Nanny” unit behind the garage and then you turn the rest of the building into a fabulous single family. The city still considers the building to be two units. The tax records and the 3R just state the size of the building, not the individual units, so if you just reconfigure/remodel you can have a great single family with a legal unit. I’ve seen it done in your area and they look fantastic!

Good Luck!
Eddie O’

sfpocketlistings ™

We usually reserve these for just our sfnewsletter readers, but we’re going to test it out on the public site.

2412harrisonfp1.jpg
Pre-MLS price: $729,000, Media Gulch/Inner Mission, 2412 Harrison

Top Floor, light & bright 2 level loft
Private (an enclosed bedroom) Master Suite and Deeded Patio
2 full bathrooms
2 Car parking!
Approx 1302 sq ft/per tax records
Unit faces West. Located on the back side of the building Additional second
bedroom/den on main level Family/media room off Master Suite
Lofted Living Room/Dining Room w/deck
Chef’s kitchen with breakfast bar
Hardwood floors on the main level
Gas fireplace
In-unit Washer & Dryer & good closet space.
Excellent floor plan
HOA $384/month

And:
-Lake Street around 20th Ave. remodeled 6 bed, 3.5 bath, approx 3000 square feet (per seller), hardwood floors, fireplace, formal dining room, gourmet kitchen, two car parking, deck, traditional style single family residence with tons of natural light. Price around $2.7MM+/-. (the list of property features could go on endlessly, but we’re keeping it short)

Contact us at info@sfnewsletter.com if you, or anyone you know, are interested in either of these.

Ask an Expert (Caroline Kahn Werboff), better to have SFR or 2 Units in Cow Hollow

Hi there:
I own a two-unit, two-story building on a lot that is 45 feet deep in Cow Hollow, in an area bounded by Union, Pierce, Chestnut and Buchanan Streets. I am trying to decide whether or not to try to merge the units legally into a single dwelling unit. It is clear that the process is complicated and not a slam dunk (in fact, the City is currently considering making it even harder to merge units) but it is still pretty tempting to try. What I would like to know is, is the building overall worth more as a two-dwelling-unit building, or would it be worth more as a single-family home? Is the answer to this question likely to change over time? Please assume that I have no tenants in either unit for the purposes of this question.
A short description: each unit is approximately 850 square feet. There are three small-ish rooms in each unit, plus a single unrenovated bathroom and a kitchen. The house was built in the early 1900s. There is a full basement under the structure.
Two things I forgot to add in my original letter are (i) that the house is located on an “alley,” and (ii) that there is no garage. Don’t know if that matters or not.
Thank you for your help!-DK”
——————————-
As answered by Caroline Kahn Werboff of Hill & Co. Real Estate, carolinekahnwerboff.com

Dear DK,
In my experience, it may be valuable to investigate putting a 2nd unit in the basement area if it is appropriate to do that, and combine the two units. Then you have a single family with an additional unit. That is the highest and best use if it is feasible.
Good luck,
Caroline Kahn