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July 25, 2011

What You Can Buy in NoPa

I toured a variety of properties in NoPa (North Panhandle) last week on broker tour. Panhandle inventory typically features multi-unit buildings and large single-family homes, many of which are classic Victorian and Edwardian styles.  The neighborhood is a bit more urban in nature than, say, Cole Valley, but a lot of the homes are improved when new folks move into the ‘hood. I found a trio of quintessential North Panhandle properties worth looking at:

First up is 715-717 Baker:

715-717 Baker is a vacant two-unit building, which means it’s available as two TICs (at $885,000 and $975,000) or as one entire building for $1,855,000. No, it’s not a screaming deal. But these are two large, remodeled full-floor Victorian flats with grand scale rooms. The lower unit ($975,000) has 3BRs/one split bath; a private deck and garden; garage parking with interior access plus a large bonus room. And the upper flat ($875,000) has 4BRs/one split bath, and also comes with roof rights for a possible deck. The building has a concrete foundation and upgraded electrical/plumbing. There is a cafe and a restaurant right at the corner, and you’re fairly close to Golden Gate Park. Further north is the Laurel Village, which has many shops, restaurants, and cafes.

We move on to a good project house at 1960 Golden Gate Avenue:

There are no interior photos available online, but the house at 1960 Golden Gate wasn’t terrible inside. It just needs a gut renovation and a second story. This place is a good example of how the neighborhood gradually gets improved over time; someone will buy and renovate the property. The lot is 25 x 100, which is fairly average for San Francisco. And there’s already a garage, which makes things less complicated. (The home was built in 1889; our Planning Department sometimes has an aversion to allowing garage installations in buildings constructed prior to 1950.) List price is $695,000.

The good part about 1960 Golden Gate is that it doesn’t need to be a two-story home; a new owner could work with the existing space and make it totally livable.

And lastly, we have a TIC at 1031-1037 Divisadero #1033:

I liked this 2BR/1BA space at 1031-37 Divisadero.  #1031 occupies the top floor in the carriage house at the rear of the lot. So the noise level from Divisadero is mitigated a bit. The floor plan was open and flowed well, and the rooms were spacious. There are four units in total–two in the front building, and two in the rear. And there’s a very large, shared roof deck for all the units. #1031 gets two-car parking and there’s shared laundry. List price: $549,000.

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