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 – 1254 48th Avenue – San Francisco (Call for more details)
Just like last week, I’m starting this week off with another great San Francisco investment opportunity. This one’s a 6-unit building at 1254 48th Avenue in the Outer Sunset. And just like last week’s pick, I like this one because two of the 6-units will be delivered vacant, allowing you to instantly achieve market-level rents for those units. Currently listed for a million-850 and trade in a little bit of 5% cap rate, I do expect about a 10% bump in value because they’re still looking about 4 1/2% cap rate which are great returns for San Francisco. I really like this location in the Outer Sunset, given its proximity to Muni, and if you are curious about how to find a good investment opportunities in San Francisco and how to navigate the very intricate Rent Control Laws, please contact me; I’d love to show you what is value.
Paul’s Pick #2 – 547 Acacia Avenue – San Bruno [click here for more]
For my second pick this week, I have 547 Acacia Avenue in the Huntington neighborhood of San Bruno. This is a great value-add opportunity, and really like for you first-time home buyers out there, I think the smaller lot size could deter some of the competition, but I think the multi-tier decks mitigates the smaller backyard. I’ve been very bullish this entire area as you may know from previous posts because Google is expanding its Youtube office in the Bayhill shopping complex, making more of a campus-like feel and also adding about 500 so more jobs to the area, and as you know, jobs equals people equal demand, and demand means more money for you owners out there.
Paul’s Pick #3 – 408 Cypress Avenue – Millbrae (Call for more details)
For my final pick this week, I’m taking you to 408 Cypress Avenue in Millbrae. This 3-bedroom 1 1/2-bath home is a pick because there are a couple of crucial marketing mistakes that were made here. Number 1, the home doesn’t show well. This is a prime example as to why you need to either freshen up and/or stage a home before you go on the market, and Number 2 and the biggest miscue that was made was the fact that it is overpriced, and there is evidence of this in the fact that it is on the market now for its 5th week. I think it’s about 10-15% overpriced; anything below a million-250 is a steal, but you better act quickly before the market awakens to this and someone else jumps on it.