A one bedroom condo under $350,000 and along a developing stretch of Divisadero is bound to catch our attention (in a good way). Then again, “Need 24hours notice to show” is as well (which likely means you’ll be buying a tenant too).
UPDATE (3/27): Best comment to date: “Just for the record, this neighborhood is not NOPA, it is not Lower Pac Heights, and it is not Divisadero Heights. It is the Western Addition. I live a block away and I love it.”
∙ Listing: 1325 Divisadero St #105 (1/1) – $349,000 [MLS]
Another name I’ve heard for this area is Divisadero Heights
Does anyone know why it is so cheap?
That stretch of Diviz is weird. The hipster gentrification is happening south of Golden Gate, and the Pacific Heights creep has not even gotten as far south as Geary. Throw in the projects to the east, and this seems a little like no-man’s-land. “Developing?” Hopefully.
correction to anon 9:48. Agreed this stretch is “weird”, but the happening restaurants and cafes (NOPA, Cafe Abir, etc) are actually north of Fell (and therefore north of the panhandle)
Right, the cafes and bars are on the stretch between Haight & Golden Gate.
duh…anon at 9:48 was doubtless referring to Golden Gate Ave, in which case he/she is absolutely right.
350k for a first floor unit without parking in a “developing” hood isnt exactly “so cheap” is it? Now that lending standards have been tightened, I’m hoping the bubble deflates here, units like this sell for 300k.
One thing that’s cool: the condo is right above the KPOO studios!
Why is it so cheap you ask? Well, I lived on Divisadero in this neighborhood…Give it a miss! Lots of noise, the area is run down, open drug dealing going on etc. It’s also not very convenient unless you are OK with the 24 Divisadero, 5 Fulton and 39 Geary bus lines. At this price point you might as well rent an apartment in a nicer area or move to the East Bay. If you want the gritty urban experience pay more and live in SOMA. It has way more upside!
I lived a little east of here and closer to the projects for about 3 months. One winter evening, not too late, my room mate got mugged at GUNPOINT and we both moved to Russian Hill. She emptied her purse and ran home.
I dont know about the whole “developing area” theory. Some parts of the City will always be, eh..shitty. The projects arent going away, neither are the [Removed by Editor] or the homeless. STAY AWAY, with rising inventory you might have trouble re-selling with the competition.
The new tenant legislation has a very real effect at this price point – you must pay $4,500 per tenant even for an owner move in eviction on a house/condo for relocation fees. If there’s a whole family in there, you have to pay relocation for the spouse and kids too. Add some basic legal fees to make sure you do the eviction properly and a factor for the delay in occupancy of the unit for a month or two and that’s a pretty significant price difference between a vacant and occupied unit – or it should be.
http://www.sfgov.org/site/rentboard_page.asp?id=49240
This on the west side of Divis, two blocks from the 38 Geary, three blocks from Golden Gate and the “hipster” stretch, and four blocks from Starbucks and the “Pac Heights” stretch. It’s not Russian Hill but neither is the price.
Just for the record, this neighborhood is not NOPA, it is not Lower Pac Heights, and it is not Divisadero Heights. It is the Western Addition. I live a block away and I love it.
…who wants BBQ from somebody named Lilly? Sounds like a mangy cat.
….check out the supremely hot waitress at Tsunami.
The projects are not coming down. No, not tomorrow – but cities ARE demolishing them and building mixed-income in same location. Which is one idea to diversify the WA housing stock given the high % of government housing units. All current housing residents could be preserved in the projects, but the same land would offer more and varied housing opportunities for existing and market-rate (Yes, greater density). There is plainly nothing developing about that stretch of Divisadero – although with visionary planning (numerous empty lots; crossroads of upper, lower, Geary,) it has great potential. But not without rezoning the area, and attention paid to the project situation.