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September 6, 2018

4-Unit Haight Victorian a Good Bet for Owner-Occupier/Landlord


One of the most popular types of investments in San Francisco is a multi-unit building in which the buyer can live in one apartment and rent out the others. The four-unit Victorian at 146 Central is an excellent opportunity for that scenario.

The building features two 2BR/1BAs, one 1BR and a garden studio. One of the two bedrooms is vacant, and the total annual income for the other units is $82,944. Located between Haight and Page, 146 Central has a 93 Walk Score and is convenient to Haight Street’s restaurants and shops, as well as a few blocks from the popular Divisadero corridor. It’s only six blocks to Golden Gate Park and a block from Buena Vista Park. Public transportation is also nearby. In short, the building is in a great rental location. Plus, it’s just a really cool building with good curb appeal.

Period detail abounds, and an owner occupier could renovate the vacant unit as needed and use the one-car garage. The building needs some work, as most Victorians do. This one ticks all the boxes in terms of an all-around solid investment. List price is $2,280,000, which is a reduction from the original list price of $2,400,000.

It’s important to vet all the disclosure and lease details before you jump into a purchase like this one. Getting a grip on operating costs is key, as well as the level of repair and maintenance work you’ll have to do during your ownership. In the case of 146 Central, the current owner had purchased the building for $33,500 in 1969 and passed away on the property of peaceful causes. So it’ll be up to the next owner to bring the building up to speed—and hopefully view the purchase as a long-term hold that could also be a nice primary residence.

[Listing courtesy of Home Sales Team, Inc.]

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