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 – 906 Stanyan Street – San Francisco [click here for more]
My first pick this week is for all you investors out there, and it’s a 5-unit building at 906 Stanyan Street in the Cole Valley neighborhood of San Francisco. Love the location of this value-add opportunity and the size of the units, but why this is a pick is because 4 out of the 5 units will be delivered vacant, and those units consist of 3 1-bedroom units, and 1 3-bedroom unit. Currently listed for just under 2.2, this means this property’s trading for just about 12.5-13 GRM, giving you roughly over a 5% cap rate, which are execellent returns for San Francisco real estate.
Paul’s Pick #2 – 960 La Senda Road – Hillsborough [click here for more]
My second pick this week, I have another value-add opportunity. This one’s a home in Hillsborough at 960 La Senda Road. This mid-century modern home enjoys gorgeous views and is ready to be updated. But why this is a pick is because of the lot it resides on. While it has gorgeous views, the majority of the over acre lot is on level ground which is rare. Currently listed for just under 3.3, I think it’s a bit tall on price, and I think a deal could be made between $3 million and $3.1.