1326-28 15th Avenue: an update, and wager

Following up to our previous post about 1326-28 15th Avenue (awesome before shots, so make sure to click that link), we know it received multiple offers, and it is scheduled to close June 4th, 2007.  We thought we’d do another little wager. We’re staying out of this one. We leave it up to you. Here are some photos, and here’s the MLS Fact Sheet, and some Inner Sunset comps to help you make a more educated decision. In case you don’t click those links, they’re asking $1,385,000.  What do you think it will sell for?
Pass this around your office and amongst your friends, post your answers in the comments, and feel free to change your guess as much as you like. Just let us know how much you win. 😉 A sort of March Madness in May.

Update: It might not actually be marked sold in MLS yet, but we know the scoop, and unfortunately we can’t give you all the dirt. What we can tell you is that they were asking $1,385,000, it went for over $1.6MM, received 11 offers and was only on the market 5 days.

–4065 25th Street: a done deal, and our fun spoiled [sfn BLOG]
–Some Makeup…a little… [sfn BLOG]

[Before photos provided by seller to us exclusively, after photos taken from MLS.]

1771 North Point: A First Look ™, Before-After, and Walkthrough of the 2007 Pacific Coast Builders Conference Eco-Friendly Marina Green Showcase Home

It’s not everyday a home comes along that truly makes our jaws drop, but we were given a preview of 1771 North Point , and now you’re getting a preview too. Of course, there is a story to everything, but we’ll just give you a taste.
Purchased in March of 2006 (spent 104 days on the market, zoned RH-2, 1965 sq/ft, built in 1932), this home has been completely, and we mean completely, gutted and renovated. From what we can tell, the only thing that was spared was the facade, the chimney and accompanying arches in the front room.

BEFORE:

Now…it is a truly amazing home with every conceivable convenience you could possibly want and all the custom detailing to match…including a 5 car garage. We were only able to take a few “after” shots because they were still setting up furniture and artwork, which will all be auctioned off by the way, but here’s a taste.
AFTER:

This home is amazing! Yes…we’re calling it amazing. The details are incredible! The flow and functionality of the home is awesome! There is so much light coming in, you might as well forget about buying lightbulbs for years. The south facing yard is perfect. The home is NOT on landfill, and frankly there is way too much for us to describe here. You owe it to yourself, and the Northern California Cancer Center to go visit before it hits the market.
(Disclaimer: We have no affiliation with this project at all. We were simply invited to go check it out before it was finished, and we’re glad we did.)

Seriously…go check it out.

–Pacific Coast Builders Conference 2007 [website]
–Start Drooling Now…a before, after and First Look at 4065 25th. St. [sfn BLOG]
–Some make-up (a little), some elbow-grease (a lot), some action (a ton) [sfn BLOG]
–3711 Clay…and Another Heart Broken [sfn BLOG]
–1771NorthPoint.com [new site up!]

Start drooling now…a before, after, and First Look at 4065 25th Street

-[Updated:5/15/07] More Fun with 4065 25th St…and a Wager? [sfn BLOG]

The address: 4065 25th Street @ Noe
The vitals: 5 bed; 3.5 bath; $2,750,000; 2 car parking; south facing yard (key!); radiant heat; 11 foot ceilings; energy efficient design (green)
The History: Purchased in October of 2003 for $756,000 (under asking we might add.)
The architect: Maura Fernandez Abernethy Design
The dates: Hitting MLS Friday (planned), first open house Sunday (5/6/07) 2-4
The before:

The drool factor (aka the after):

In our humble opinion, this is how you do it right! So right, it’s wrong…that we all can’t have something like this. Go check it out this weekend. You will be impressed.
[Update: on 5/10/07 this property is now pending and received 3 pre-emptive offers.]

–More photos [Caroline Kahn Werboff]
–Some Makeup (a little) Some elbow grease (a lot) some action (a ton) [sfn BLOG]
–4065 25th [MLS]
–More Fun with 4065 25th St…and a Wager? [sfn BLOG]

The Power of Purple

We present: 200 Corbett, a 3 bed, 2 bath, single family home built in 1908 just hitting the market. We had the pleasure of checking it out, and we must say, it is pretty damn sweet, and yet another unique property that makes you love the real estate here. (Yes, that is a Breville Die-Cast Espresso Machine on the counter.)

A bit of history for the “real estate is a bad investment” crowd:
-Oct. 1997-sold for $474,000
-Nov. 2001-sold for $725,000
-Jul. 2004-sold for $1,250,000
-Mar. 2007-Asking $1,665,000

Except for the Broker Tour, it is being shown by appt. only, so contact your sfnewsletter provider to get you in.

Pictures: Furnished, and for another perspective Unfurnished.
[Pictures on our blog, and on “furnished” taken by Bryan Nazario

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

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’

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

Ask an Expert (Shanendoah Forbes), 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 Shanendoah Forbes of Arroyo & Coates, sforbes@a-c.com

I think that the property is more valuable as a two unit apartment building. There is more value in having a property that can be converted to “condo” by creating an owner- user/TIC situation. In my opinion you will fetch a higher price if you sell to the “TIC” market rather than the home buyer that will purchase a single family home in that area. There is a lot more to it but I would rather not get too complicated.
There is more upside potential and less headaches in your future if you keep it a two unit “condo conversion/TIC” opportunity.

Shanendoah Forbes

Ask an Expert (Alexander Clark), 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 Alexander Clark, sfnewsletter

DK,
It sounds like you have the location nailed, but not if you are on one of the “less desirable” alleys. That could play heavily as to whether you keep two units or go SFR. I would have to say, given the limited information you present, either keep it as two units, remodel and sell as TICs, or remodel as SFR, keeping a unit below (basement) as a technicality. That would avoid any conversion headaches you will undoubtedly encounter. Make sure to read: Our post on McGoldrick’s proposal, and don’t hesitate to contact us if you have any more questions.

Ask an Expert, Height limits Outer Sunset/Parkside (Sven Lavine)

“hello,

I recently bought a house in the outer sunset district (48th and Ortega ) of San Francisco. I am trying to figure out exactly what are the building/remodeling restrictions for my zone. Specifically I am interested in finding out about height restrictions, such as building a third story for an ocean view or adding a roof deck. Is there a height limit? Is there a story limit? etc. I believe my unit to be zoned rh-1 and I also believe the house to be in a coastal zone, this probably has some bearing on the answer. Please let me know what you think or where to go for this kind of info. Thank you.”-rob

———————-
As answered by Sven Lavine of Sven Lavine Architecture

Rob,
The height limit in your district is 40 feet, which technically means you could add a third story. There are some other factors which may be relevant: Are there other 3 story houses in the vicinity? If your proposed addition would be out of character or scale, your neighbors could oppose the project during planning review. If your building is historically registered, a 3rd story will be difficult to get past planning (unlikely in your location). You also need to be aware of the seismic, and structural ramifications of adding a story. Adding a roof deck is easier with regard to planning, but you may need to add structure to support the added load. Single family homes are exempt from Coastal Zone Permit requirements, so you should be OK there.

Most of this information is available from the city planning and building departments, but I would recommend speaking with an architect as the best starting point. Some architects (myself included) will look at your project and give you this kind of feasibility information at no charge. You will need a licensed architect to apply for permit, but more importantly, a good architect will be your proponent, and facilitate the project from start to finish, making sure that you get the home you really want by considering all your needs and wants, and taking all the factors into consideration. Have a look at my article on additionsfrom the sfnewsletter, for more information.
Good luck,
Sven

Ask an Expert, Height limits in Outer Sunset/Parkside (Alexander Clark)

“hello,

I recently bought a house in the outer sunset district (48th and Ortega ) of San Francisco. I am trying to figure out exactly what are the building/remodeling restrictions for my zone. Specifically I am interested in finding out about height restrictions, such as building a third story for an ocean view or adding a roof deck. Is there a height limit? Is there a story limit? etc. I believe my unit to be zoned rh-1 and I also believe the house to be in a coastal zone, this probably has some bearing on the answer. Please let me know what you think or where to go for this kind of info. Thank you.”-rob

————————-
As answered by Alexander Clark, sfnewsletter

Rob,

I would advise going down to the Planning Department, stating your situation, and discussing with someone behind the counter. If you go down to the Planning Dept. you’ll get a lot further than going through on-line.

Planning Dept. Website. There is almost too much information there, so I’m sticking with my suggestion of going down to the counter.

Planning Dept is located at 1660 Mission, Suite 500. Main # is 558-6378, Zoning is 5th floor, 558-6350, Planning is 558-6377. You might try emailing david.lindsay@sfgov.org, or calling him at the main number. He was involved in a deal I did a while back and memory tells me he is a decision maker down there.

I would also consult with an architect, and/or contractor as they are usually the ones that push your permits through and know about local ordinances as regards to design and planning. I can recommend a couple if need be.

If you build up and may block someone else’s view, you could run into opposition. If not, I’ll be calling for the surf report.

Please let me know if this information is helpful, if not, we’ll get you more.

thanks,
alex