Welcome to Paul’s Picks, a weekly segment where Paul showcases some the best deals on the market here in the Peninsula. From single-family homes and condos to 2-4 units and large apartments complexes even vacant lots. Paul closely and constantly monitors a wide arrange of product types seeking out the market opportunity that you might not have thought about. If you would like to discuss a property in more detail or find out about other properties that may fit your needs better please give me a call at (650) 348-2020.
Paul’s Pick #1 – 249 Shipley Street – San Francisco (Call for more details)
For my first pick this week, I have a 3-unit building at 1282-1286 Pacific Avenue in the Nob Hill Neighborhood of San Francisco. Now each of these units are three bedrooms that are good size, and you get beautiful views of the Golden Gate bridge from the roof. But why this is a pick is because it highlights the strategy to get the best deals in real estate market today, which is purchasing prime San Francisco real estate riddled with tenant problems. Now this property’s been on the market for over 50 days and is listed for 1.6. If this property was vaciant, it would easily be traded between 2.5 to 3 million, possibly even beyond that, but you get all that built-in equity because the rest of the market doesn’t want to deal with the tenants. Now there are a couple of ways to get rid of them, whether it’s through Ellis acting or through buy-outs. And these strategies are extremely complicated, so if you are interested in purchasing San Francisco real estate at 50% of market value, please DM me; I would love to go over the strategy in person and make you some money.
Paul’s Pick #2 – 824 Adams Street – Redwood City [click here for more]
My second pick this week — I’ve got another investment property for you. This one’s down at Redwood City at 824 Adams Avenue. This is a 4-unit building, and I really like this product, because you get to lock in that 30-year fixed interest rate, however you also have 4-units producing income for you; so it’s kind of the best of both worlds between residential and multi-family. Currently listed for 1.1, I do expect about a 10% bump in price, but even with that bump, you’re looking at about a 4.75% market cap.
Paul’s Pick #3 – 2500 Crestmoor Drive – San Bruno [click here for more]
For my final pick this week, I have 2500 Crestmoor Drive in San Bruno. This is one of the best remodels I’ve seen in a while in Crestmoor I. Love the cape cod-style and the curb appeal that comes with it. I really like the finishing that they’ve chosen throughout. Of course, if you’re a San Bruno buyer, you can look at this home, but I’d also recommend this home to any of you Millbrae buyers out there; tired of getting beat out, and the price levels that Millbrae’s at, I would expand your search to not only include this home, but also this neighborhood in San Bruno.