Lately, I have had a number of people ask me about buying a two-unit building. For parents who have children they’d like to see return to San Francisco after college, buying a two-unit building gives them an investment that one day may be used by their children as a home. Others would like to buy a two-unit building (as my husband and I did) in order to live in one unit and rent the other. Some prefer to buy a …
Carol Solfanelli | Compass | DRE License # 01347033 |
415-297-7031 | carol.solfanelli@compass.com
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2022 Real Trends America’s Best Real Estate Professional
Top 1.5% of 1.6 Million Agents Nationwide
Tag: two-unit buildings
I’ve noticed a recent trend with parents purchasing two-unit buildings as eventual homes for their children. I have had several parents contact me recently with the intention of doing just this. In a city like San Francisco where prices are out of reach for many first time buyers, parents realize that their children may not be able to return to San Francisco and buy their first home. In an effort to make it possible for their children to live back …
In March of this year, I listed a tenant-occupied property at 898 Carolina Street for $1,595,000. It closed recently. It was a Victorian two-unit property with downtown and Twin Peaks views at the top of the hill at Carolina Street in Potrero Hill. It had great development potential and an upside in rents but needed some work. The lucky buyer who prevailed beat out 6 other offers in a multiple offer situation. It sold for more than $400,000 over the …
When shopping for a property, many people focus on buying a condo or a single family residence. While both of these options are fine, an option many people in my experience don’t consider is buying a two-unit building. While they may feel that they will not qualify for a high enough mortgage, the bank will take into consideration the rental income of the unit that will be tenant-occupied when deciding the loan amount. And although most two-unit buildings in San …