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Snapshot: San Fran

Investments
What will $1.2M buy in Lower Pacific Heights?

We love San Francisco.  Love it. We love it so much we had a difficult time choosing just one neighborhood as the focus of our first San Francisco Snapshot. The whole city just has this urban-meets-cozy-meets-ubercool vibe. In the words of our local agent friend, Radhi Ahern, “Everything in San Francisco is really desirable.” We have to agree. Lower Pacific Heights has a special place in our heart due in part to its proximity to some of our favorite haunts: La Boulange (pastries, quiche, coffee); Japan Town (sushi, of course, and the annual cherry blossom festival), BunMee (Vietnamese sandwiches), Perish Trust and Bi-Rite (not officially in the neighborhood, but close enough).  In essence, it’s the kind of neighborhood where we’re certain the lucky ladies who live there wake up every day and say, (with a smidge of pride), “Yep. I’m a San Francisco girl.”

What $1.2M will buy:

You can still get a two- to three-bedroom condo with about 1,400 square feet..  Yes, that’s a whopping $800 per square foot, which, of course, will go up or down depending on proximity to the shopping on Fillmore, parks, or other neighborhood perks.

Also, you’ll want to remember that 42 percent  of sales in San Francisco right now are cash sales. But, even if you don’t have cash, it is still possible to purchase. “The key is being completely qualified by a local lender,” Radhi says.

Rental income potential:

You can command top dollar for rent in San Francisco.  Lower Pacific Heights is especially conducive to renting out multiple rooms because the average room tends to be on the larger side. Landlords can fetch  upwards of $5,000 a month for a three-bedroom place, and if you’re just looking for roommates, a single room can bring in as much as $2.000.

Lifestyle:

Lower Pacific Heights draws an eclectic young crowd of techies and artists.

This trendy hood has everything you could need: great shops, tons of bars and restaurants, and easy access to transportation. Anything you can’t find within its official boundaries (which, according to the San Francisco Association of Realtors, actually includes Japan Town), you’ll find in the adjacent neighborhoods of The Fillmore District, Laurel Heights, and Pacific Heights.

San Francisco Economy*:

Unemployment rate: 4.9%

Median household income: $73,802

Median Value of Owner-Occupied Housing Units: $750,900

Median Sales Price: $1,002,500

Median List Price: $891,500

*Data taken from RealtyTrac.com, United States Census Bureau, Oct. 2014

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Elizabeth Salaam
Along with her work as Senior Contributing Writer for Girl's Guide, Elizabeth Salaam writes for the San Diego Reader. Her work has also been published in Elle Magazine. | Most inspired by: Contradictions. | Favorite room in my home: The Master suite. The windows have views for days! | Best design idea I may never do: Adorn my enclosed toilet room with library book wallpaper and a chandelier. | Will never: Bungee jump. | Have always been: Rebellious. | Dying to: Live in a Paris flat with herringbone wood floors.
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