Saturday, October 13, 2007

A Classic TIC

With all the innovations in TICs - larger groups of partners, tenant/owner splits, old owners selling off new TIC units one by one - I've come to think of the classic TIC as a renovated older building of 6 units or less, all to be owner-occupied, priced reasonably, in an up-and-coming neighborhood where increasing homeownership can make a difference in the quality of life. Located in Hayes Valley, 75 Lily Street has all that and more - gourmet kitchens, radiant heating, double-paned windows, new electrical, plumbing & roof. Parking is leased.

TIC Cottages

When I first moved to San Francisco ten years ago I had visions of purchasing a quaint little cottage where I would cultivate a garden while my beloved cat stretched himself in the Northern California sun. So whenever I see a listing for a TIC cottage my heartstrings feel a tug. This week I've spotted a couple.

In realtor's parlance charming means small, but this Nob Hill listing does look darling. Plus, on the practical side it has new plumbing, new electrical and a new roof. What an adorable pied a terre or center city hideaway. This cottage is part of a larger 14-unit property so it will likely never go condo. Parking is leased.

If charming is small, pint-sized must equal teeny tiny. This "compact" Alamo Square duplex looks like a remodeled garage, and from the photos the refrigerator appears to be in the living room. But it is secluded, has views and comes with deeded parking. How cute.