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October 4, 2021

One-Bedroom Condos a Good Bet for First-Time Home Buyers

A one-bedroom condo—especially one with a den or office area—is an excellent option for first-time home buyers. This type of property truly exemplifies the concept of getting your foot in the door of San Francisco real estate, and aiming to build equity with the goal of trading up in a few years.

The average price of a one-bedroom condo citywide is $876,707 (based on sales from July 1-Sept 30, 2021). If your price range is under $1M, targeting conveniently located one bedrooms is the way to go.

There are currently 242 one bedrooms on the market, so you have plenty to choose from. The one bedrooms that will have the best chance of appreciating have parking, on-site laundry, a good location near retail and public transit and HOA dues that aren’t excessively high. I set out to find some properties that meet this criteria and which I think are well worth considering at the moment.

1390 Hayes #4
NoPa

$949,000
HOA Dues: $562/mo

1390 Hayes #4 is a top-floor, rear unit with 807 square feet and nice period detail throughout. Kitchen and bath are updated, there’s in-unit laundry, parking and storage. Great neighborhood location near the Divisadero corridor, Golden Gate Park, Alamo Square and much more. (Photo courtesy of Corcoran Global Living)

451 Kansas #478
Potrero Hill

$799,000
HOA Dues: $566/mo

The Potrero is one of my favorite condo complexes in the neighborhood. (I just sold a similar unit recently, which is a comp for this one.) #478 features upgraded kitchen and bathroom finishes, in-unit laundry and parking. Amenities include gym, roof deck and Whole Foods downstairs. (Photo courtesy of Sotheby’s International Realty)

2230 Pacific #204
Pacific Heights

$975,000
HOA Dues: $600/mo

I sold a rear-facing, water-view condo in this building many years ago. The location is prime Pacific Heights, and the one bedrooms are spacious. #204 has nicely remodeled kitchen and bath, and includes parking for a compact car. Laundry in this 12-unit building is on site in a common laundry room. This is a great walking spot near Fillmore and Union Streets, as well as Lafayette and Alta Plaza parks. (Photo courtesy of Compass)

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