Listed at $649,000, 2 bedrooms, one bath, 1,250 square feet, parking, full basement, sale subject to tenant rights. This property is listed as a short sale (1 lender) and was previously sold for $585,000 in 6/2005.
According to the agent there are 7 tenants and the total rent received is $3,000. There are no children but there is one tenant that has lived in the property for 23 years and another that has lived there for 8 years (and one tenant is over 62 years old). The agent also indicated that the tenants are open to an amenable buy-out.
I have not seen the property yet (the agent is to call me when there is a showing scheduled).
This is a tricky property given all of the unknowns surrounding the tenants. The property will be a great remodel opportunity some day, as it can be remodeled into a larger home (1,250 square feet plus garage expansion opportunity). It is also in a great area of the Mission, right across from Progressive Grounds.
http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N689285492,-N224051,-N,-A,-N14575331
8/7: Reduced to $599,000
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