324 Susie Way, South San Francisco, California 94080, South San Francisco, 94080 - bed, bath
ACTIVE$1,795,000
324 Susie Way, South San Francisco, California 94080
0Bed
0Bath
4,767Sqft
3,354Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Investment Upside: The property offers significant upside potential by raising rents to market rates and is currently priced below identical neighboring comparables, indicating a strong value proposition for investors.
Top Cons:
Age of Building: Built in 1968, the property is over 50 years old, which may imply potential for future maintenance or system updates beyond the recently completed work.
Compared to the nearby listings
Price:$1.79M vs avg $1.32M (+$470,000)67%
Size:4,767 sqft vs avg 2,729 sqft67%
Price/sqft:$377 vs avg $37750%
More Insights
Built in 1968 (57 years old).
Condition: Built in 1968, this property shows a mix of recent maintenance and dated components. While the exterior and common areas have fresh paint and a sewer lateral was replaced, and at least one bathroom features modern updates (vanity, toilet, LVP flooring), the kitchen is significantly outdated with older wood cabinets, laminate countertops, older white appliances, and a dated fluorescent light fixture. Other areas show older carpeting and dated light fixtures. The property is functional and maintained but requires substantial updates, particularly in the kitchen, to meet current aesthetic and functional standards.
Year Built
1968
Close
-
List price
$1.79M
Original List price
$1.85M
Price/Sqft
$377
HOA
-
Days on market
-
Sold On
-
MLS number
ML82009370
Home ConditionFair
Features
Good View:
View-
About this home
324 Susie Way is located in the very desirable rental sub-market of the Willow Gardens neighborhood in South San Francisco. This fourplex contains (4) 2 bedroom 1.5 bath townhouse style units ranging in size from 913 to 997 square feet. The building features 4 individual 1 car garages with tandem 1 space parking in front of each garage. Additionally there is a common laundry area and shared hallway that leads to the front door to each unit. This secured property has some beautiful views and backs to a greenbelt accessible through a gate. All new: sewer lateral, exterior and common area interior paint. Significant upside by simply raising rents annually until market rents are achieved. Priced below identical neighboring comps.
Condition Rating
Fair
Built in 1968, this property shows a mix of recent maintenance and dated components. While the exterior and common areas have fresh paint and a sewer lateral was replaced, and at least one bathroom features modern updates (vanity, toilet, LVP flooring), the kitchen is significantly outdated with older wood cabinets, laminate countertops, older white appliances, and a dated fluorescent light fixture. Other areas show older carpeting and dated light fixtures. The property is functional and maintained but requires substantial updates, particularly in the kitchen, to meet current aesthetic and functional standards.
Pros & Cons
Pros
Strong Investment Upside: The property offers significant upside potential by raising rents to market rates and is currently priced below identical neighboring comparables, indicating a strong value proposition for investors.
Desirable Rental Location: Located in the highly sought-after Willow Gardens neighborhood of South San Francisco, ensuring consistent tenant demand and rental income stability.
Recent Capital Improvements: Key updates including a new sewer lateral, exterior paint, and common area interior paint reduce immediate capital expenditure for a new owner.
Valuable Tenant Amenities: Each unit benefits from an individual 1-car garage with tandem parking, plus a common laundry area, enhancing tenant convenience and property appeal.
Attractive Property Features: The secured property boasts beautiful views and direct access to a greenbelt, offering desirable lifestyle amenities for residents.
Cons
Age of Building: Built in 1968, the property is over 50 years old, which may imply potential for future maintenance or system updates beyond the recently completed work.
Limited Unit Diversity: All four units are identical 2 bedroom, 1.5 bath townhouse-style, which might limit the diversity of potential tenants compared to a mix of unit sizes.
Recent Price Reduction: The property has undergone a price reduction from its original listing, which could suggest initial overpricing or a slower market response, potentially affecting buyer perception.