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February 16, 2009

Saturated in the Marina

If you’re in the market for a condo, a good place to check out is the Marina. I toured a number of available units this week on my broker open. The properties on the market range from $955,000 for a 2BR/2BA unit with about 1200 square feet, to a 2,000 square foot property on North Point listed at $1.8M.

The bottom line is that deals may abound. My favorite property in the area is actually not a condo; it’s a renovated, two-unit building at 3514-3516 Pierce. The owner renovated both units and are offering them as TICs. Both are 2BR/2BA units with dining rooms, wood-burning fireplaces, and two-car parking. While the lower unit has 1340 square feet, the upper has 1,535 square feet, plus a 470-square foot, exclusive use roof deck with an outdoor kitchen and, of course, Golden Gate Bridge views. 86 days on the market and counting. At the right price, this TIC arrangement could be a nice deal.

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