Coming soon...affordable San Francisco condo

My territory tends to be the East Bay, but ever so often I’m called upon to work outside of that area.  A longtime client of mine who is aware of my work with below market rate homes in Oakland has referred me to her brother who would like to sell his below market rate condo in San Francisco.

Last week, I visited the condo in the pouring rain.  Luckily, I was only in the rain for a moment since the building is literally a few feet from the BART.  Even on a rainy day, the building was gorgeous. Built in 1906, the stunning brick and limestone facade reminded me of the timeless beauty of the historic brick buildings that I grew up with back east.   

The building's interior has elegant original details interspersed with stylish modern murals.  For relatively low HOA fees, residents enjoy a rooftop deck and a gym in addition to other common meeting spaces and laundry facilities.

Inside the studio, the light from a large, street-facing window gleams off of beautiful hardwood floors and a modern stainless steel countertop.  Although small, the studio is smartly designed with space-maximizing storage solutions. 

The best features of this condo are the location and the price.  Busy professionals and students will appreciate how close the building is to all major forms of transportation that will quickly take them anywhere in San Francisco and allow them easy access to the East Bay, Peninsula and the South Bay.  Additionally, there are several spacious common areas that allow a party to continue when the last guest has nowhere else to stand but in the bathroom.

While this condo will be listed for no more than $230,000, the least expensive market-rate studios in the area are selling for at least $315,000.  This price is also quite the contrast from the entry level condos selling around the FiDi in the $500,000s. 

This is a below market rate condo so the City restricts both the purchase price and buyer qualifications.  The maximum buyer income is $67,750.  For further information on the City’s program and the restrictions on this unit, you can visit the City’s website here.

The condo will go on the market in mid-February.  Send me an e-mail if you’d like more info – Farrah.Wilder@prurealty.com

More info on the building: 

http://studycenter.org/test/cce/issues/65/ccx.65-Fp4&5.pdf

http://www.bookconcern.com/bcb.html

http://www.ubayp.com/buildings/83McAllister-Book-Concern-Lofts.html

Comments

[house for sale]

This is cool, I hope to be there soon,

Ace