Vacant two-unit buildings in a great San Francisco locations bring everybody out of the woodwork.
My listing at 135-137 Duncan Street was no exception. We hit the market right after Labor Day weekend, and our preview open attracted a steady stream of serious buyers with their agents. Make no mistake, the buyer pool for these buildings is a big one.
Duncan appealed to many buyers because the units were spacious and relatively equal in size. The building had a nice garden and large garage with plenty of parking (and development potential).
We did quite a bit of prep work on the building, from refinishing floors and painting each unit to garden cleanup, handyman stuff, windows and interior/exterior cleaning.
Staging provided the finishing touch that let prospective buyers envision themselves living in the property. We switched up the scheme in each unit to show the potential for how you could use certain rooms as bedrooms, offices and living spaces.
Most buyers were considering purchasing the building with a partner, as the highest and best use of a property like this is to owner occupy both units for a year and then start the condo conversion process. We also had buyers who were interested in living in one unit and renting out the other. Needless to say, it’s a competitive market out there for vacant two-unit buildings, and you need to have the right strategy if you hope to be a successful buyer for one of these types of properties.
In the end, we listed Duncan for $1,995,000 and received multiple offers within two weeks of going on the market. We just closed for $2.2M. Congrats to my seller, and to the new stewards of 135-137 Duncan.
If you’re in the market for a building like Duncan—or need to sell one—contact me at 415.823.4656 | eileen@insidesfre.com. I have extensive experience helping clients with two-unit buildings and can guide you in a successful purchase or sale.