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Jordan Park

20 Blake St

$

1488000

$

549

/sqft

Upcoming Open House

,

$

/mo HOA

6

Rooms

$

549

/sqft

3

Baths

Built in

1951

2712

sqft

2

Status:

Best deals

Property Description:

This Duplex is located in Laurel Heights/Jordan Park and is a hidden gem in The City, it is nestled next to the world famous and prestigious Pacific Heights. This property is 3 stories, a 2 car garage on the bottom level, the second floor is a 3 bedroom 2 bathroom unit, and the 3rd floor is a 3 bedroom 1 bathroom unit. There is one main gate, but separate entrances to both units. Two furnaces. This property has lots of potential, there is a spacious backyard that can be turned into your private retreat. Laurel Heights neighborhood is a stone's throw away from Haight Ashbury and Clement street with a wealth of vibrant restaurants and shopping, it is centrally located for a short jaunt to anyplace in The City

Tim's Review:

The sheer square footage and current livability makes this an attractive opportunity. There are a litany of duplex comps dating back to 2018 in the immediate neighborhood ranging between $2M - $3.5M, depending on the condition of the property, giving a healthy amount of room for both an owner occupant or house hacker to come in and secure an attractive asset to add to their portfolio.

Needs:

Exterior wood work on rear of the property needs replacing & sealing
New/rebuild exterior staircase
Full cosmetic interior
New windows throughout

Value Opportunity:

The lower unit in this part of the city could rent well above $4,500 depending on condition, giving an immediate yield to offset carrying costs.
Duplexes qualify for FHA loans allowing owner occupants to put as little at 5% down if they occupy a unit for a minimum of 12 months (...remodel timeline?)
Property is owner occupied - no tenant buyout issues or uphill legal battles
Backyard has ample room to add an ADU as an external office/secondary space
Rood deck, anyone?
Add a deck off the rear of the upper unit to add outdoor square footage
Immediately apply for condo conversion upon purchase (2-unit buildings receive a fast tracked process in SF)

There is a fully-remodeled perfect comparable building literally on the other side of the school: 54 & 56 Cook St. The building sold for a combined ~ $3,500,000 as two tenancy in common units, with the lower unit having two-levels.

There are so many ways to increase the value of this property, and make a healthy return during occupancy, or completely flip it at 2 individual TIC's with garage parking an a massive yard for $1.3M+ each.

Email me for my full review.

‍

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Responsible broker

Tim

Licensed Real Estate Agent

+14156919272

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Feb 10

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Tim

McMullen

,

+14156919272

‍

“Get the most money, prep and marketing for your home while minimizing the stress and time it takes to sell it.”

-

D.C

,

Seller

"Tim helped make my first home buying experience easy and straightforward, giving me good and honest advice on evaluating houses, making offers, negotiating, and generally being very responsive to questions or concerns that I had during the process."

-

J.P

,

Buyer

“After meeting with a few real estate agents, we decided to choose Tim for our home purchase and we were not disappointed. Tim was always a text or a phone call away and provided us with everything we needed and more. He was with us every step of the way during the experience and we couldn’t have asked for a better agent. He is extremely knowledgable of the current market landscape and helped us negotiate for an offer below asking in the San Francisco market (amazing right?!). He is kind, friendly and will always have your best interest in mind when he is assisting in your home purchase. We wholeheartedly believe that if we had chosen another real estate agent to work with we might not have been able to purchase our home since Tim brings a bunch of intangible skills to the table that other agents simply do not possess. We would highly recommend Tim to our friends and family and we will not think twice about working with him again in the future.”

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E.Y

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Buyer

“I highly recommend Tim! He knows the market very well and he is a very knowledgeable and responsive real estate agent. If you want to work with an expert who looks out for you and your best interest, Tim is the best choice!”

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Y.C

,

Buyer

“My husband and I were the first time home buyers. We contacted Tim just couple of months after moving to San Francisco. Tim really helped us to learn about different neighbourhoods in SF. He showed us all the apartments that we wanted to visit even the ones that we could not afford. He is a good negotiator and we end of buying an apartment below the asked price.”

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S.A

,

Buyer

“I highly recommend Tim as a realtor to help sell your home! He comes with all the skills and contacts (contractors, stagers, designers, etc.) to make the process successful. He is a great listener and highly responsive. We could not have asked more from a realtor to help us selling our first home. Thanks Tim!”

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F.G

,

Seller