Sunday, August 05, 2007

Bargain TICs

Even though there are now TICs selling for close to or above the $1 million mark, my contention is that the original purpose of this form of group ownership was to provide San Franciscans with an affordable path to buying a home. Of course a reasonable price in the San Francisco real estate market is miles above what would constitute a deal in other locales. However, I will set a completely unscientific metric, based on what I paid for a one bedroom TIC (without parking) back in 2000 - $250,000. According to the U.S. Bureau of Labor Statistics, due to inflation that equals $302,485.48 in 2007 buying power. Here are a few interesting properties in that range.

If you are a fan of 60s style, 198 Dolores (pictured above) has clean, modern lines. The unit is filled with light and the floorplan appears emimently workable. Plus, nirvana,, the price of $339,000 includes one car parking in an independent garage. This looks like a very groovy San Francisco starter home for a professional single.

This Cow Hollow studio near the Presidio would make a lovely little pied-à-terre. It includes a private deck. And you can't beat the location, in terms of retaining your value. There are several units listed on the MLS at this location, priced in the $260s. That means plenty of room to bargain. Alas, these "jewel boxes" do not include parking.

2162 Pine is another very cute studio, which would require some very creative thinking about how to best configure a sleeping/living/eating space. Perhaps re-purpose the walk-in closet? Listed at $299,000.


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