1156 Geneva Avenue, San Francisco, CA 94112, San Francisco, 94112 - bed, bath
ACTIVE$695,000
1156 Geneva Avenue, San Francisco, CA 94112
0Bed
0Bath
1,950Sqft
2,495Lot
Year Built
1925
Close
-
List price
$695K
Original List price
-
Price/Sqft
$356
HOA
$0
Days on market
-
Sold On
-
MLS number
ML81941019
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $695.0K(50th), sqft - 1950(20th), beds - undefined(20th), baths - undefined(50th).
Great opportunity for investment or owner user. Mixed use building, upper level two bedroom full floor lfat, lower level commercial space with flexible uses. Owner will carry financing. Long term tenant upstairs.
Price History
Date
Event
Price
09/07/23
Price Change
$695,000
Condition Rating
Poor
Built in 1925, this mixed-use property shows significant signs of age and deferred maintenance, particularly in the residential unit. While the exterior appears to have a recent paint job and the commercial space has some newer laminate flooring, the residential interior (as seen in Image 3) is extremely dated, cluttered, and appears to have had no major renovations in over 50 years. The walls are worn, light fixtures are old, and the hardwood floors are in poor condition. It's highly probable that the kitchen and bathrooms in the residential unit are original or very old, requiring substantial repairs and rehabilitation to meet modern standards. The property analysis also highlights 'Property Age & Maintenance' and 'Undisclosed Condition/Renovations' as weaknesses, indicating significant capital expenditure will be needed. The residential unit is likely very uncomfortable to live in its current state, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Mixed-Use Versatility: The property's mixed-use configuration, featuring a residential unit and flexible commercial space, offers diverse income streams and adaptability for various business models.
Broad Buyer Appeal: Positioned as an ideal opportunity for both investors seeking rental income and owner-users looking to occupy part of the building, broadening its market appeal.
Seller Financing Available: The owner's willingness to carry financing provides a significant advantage, potentially easing acquisition for buyers and expanding the pool of interested parties.
Established Income Stream: A long-term tenant in the upstairs residential unit ensures immediate and stable rental income from day one for an investor.
Prime San Francisco Location: Situated in San Francisco, the property benefits from a robust real estate market, high demand, and strong potential for long-term value appreciation.
Cons
Property Age & Maintenance: Built in 1925, the property is likely to require significant capital expenditure for updates to its systems and general maintenance to meet modern standards.
Potential for Under-Market Rent: While a long-term tenant provides stability, their current rent may be below market value, potentially limiting immediate income optimization for a new owner.
Undisclosed Condition/Renovations: The listing does not specify recent renovations or upgrades, implying potential for outdated features or deferred maintenance requiring future investment.