Property Description:
1318 5th Avenue represents a truly SF-only experience: The opportunity to purchase a vacant-at-close Vintage Edwardian 5BD/2BA Duplex in the coveted Inner Sunset Dist., either for investment, an owner-occupied hybrid, or as a family compound, and make it your own! This 1908 Classic, which measures 2,827 Sq Ft per the tax records, boasts 2 large & light-filled flats w/spacious layouts, high ceilings, 2 FPs each, lots of configuration options, and period detail throughout. The bright top floor flat, which runs the length of the building, features a FLR w/FP, a FDR w/FP & garden views, 3 ample BDs, a split BA, and large eat-in kitchen w/adjoining laundry/utility room w/stairs to the lovely rear yard. The lower floor full-floor flat offers a similar striking configuration with a FDR, FDR, 2 ample BDs, a split BA and roomy eat-in kitchen w/laundry room with yard access. A private 2-car garage, basement w/room for hobbies, storage and possible expansion options, and big backyard ready for gardening, pets & play, completes this rare offering nestled on midblock on a large-for-the-City 3,000 Sq Ft lot. Highly desirable Inner Sunset location, steps from Irving St. shopping & dining, G.G Park, local markets, schools, USCF, Cole Valley, Haight St. and easy public transit/ commute access!
Tim's Analysis:
Without digging too deep into the disclosures and speaking from a cosmetic standpoint, my handyman team is quoting ~ $250,000 of work to restore to a turnkey quality and re-sell as Tenancy In Commons, as a duplex, or occupy both units and rent them out indefinitely (including facade painting & re-building the rear staircase). If speed is the goal, keep the floor plan as is and turn each unit quickly. If profit maximization is the goal, a light re-arrange of floor plan to open up kitchens into living spaces could yield a higher return, but factor in a longer permitting timeline.
The Inner Sunset neighborhood is one of the most sought-after destinations on the westside of the city, and this location moves very quickly when turnkey. The property will be delivered vacant (huge plus) and I can arrange for a TIC agreement to be produced during the remodel.
Email me for a detailed review.
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Selling real estate has been a dream career for Tim McMullen. He’s fascinated by all aspects of the business and takes great pride in solving problems for clients to achieve their desired outcome.
