Wednesday, January 17, 2007

Stage 5, Outer Richmond

Market Update

Just like the Central Richmond district, many people are discovering the Outer Richmond. How can you argue? Go west and BAM! you hit the ocean. Go north and FORE! you've got a decent little public golf course, not to mention one of the city's best walking trails at Land's End. There is a surf spot tucked among the cliffs, many great restaurants, sunset views, Golden Gate Park to the south, the Palace of the Legion of Honor, and the ruins of Sutro Baths. Generally, properties exchange hands pretty briskly when priced right, and did you know this district has a few standout streets? Seal Rock always gets lots of attention, as does Sutro Heights. But even more unique than those two streets, there is a little area, and street, called Shore View. Homes in Shore View look like they were air-lifted out of Sea Cliff and dropped here. Go do a drive by (not that kind) and you'll be impressed. As more and more families get priced out of the "centrally located" neighborhoods, the Outer Richmond could see continued, and better than normal growth.

the listings

the stats

Comparison Shopping

Five bedrooms in our Shore View will set you back a cool $2.3MM. In Shoreview, Minnesota, you could have 5 bedrooms, 2 baths, 2008 square feet of property on over one acre of land for a mere $275,000. You even get some sort of structure hidden in the woods. Storage shed? Out-house? Gun cabinet? Meth Lab? Who knows. Ahhh, but it's quiet and you have plenty of privacy. Isn't that why people move to the middle of nowhere? It's true that outside of San Francisco homes are certainly less expensive, but that doesn't always mean the grass is greener. ;-)


Seal Rock Inn, located at 545 Point Lobos Ave. at 48th, is a reader recommended hotspot in the Outer Richmond. This is hardly a "new" hotspot, but when you are in the mood for that 3pm breakfast, and feel like taking a stroll on the beach to burn it off, this is the best place to go. Food is very "diner" style... hearty and good.


What is a pocket listing? A property that an owner is willing to sell, but is not currently on the market. sfnewsletter knows of the following:

--6 unit building on a very large lot in Pacific Heights. Great development opportunity. On Washington at Baker. Each unit is one bedroom, one bath, with original details, wood floors, fireplaces, and lots of San Francisco charm. The whole building is for sale around $3+Million. Possibility to also purchase individual TICs around $500,000. This property is a fixer.

--3 units in SOMA on Boardman Street between Bryant and Brannan. 2 residential, 1 commercial. One unit is vacant. Commercial tenant is Bail Bonds shop. 3 car parking. Previously listed at $995,000. Seller is willing to negotiate.

--Single Family center patio home on 41st Ave @ Taraval. Two bedrooms, one bath up, wood floors, skylights, formal dining room, fireplace, beatiful yard, studio inlaw down (unwarranted). $800,000
Please contact your sfnewsletter provider if any of these sound of interest to you.

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