Sometime’s it simply about curb appeal (especially when we’ve never been inside). And while 69 Waller is described as “a rare Tudor Revival with Victorian architectural embellishments,” we do have to wonder: any chance it could be considered Tudorbethan?
∙ Listing: 69 Waller Street (3/2) – $1,049,000 [MLS]
Interesting MLS listing including a picture of Zuni Restaurant!? Well, I love Zuni, and the thought of chicken with breadcrumbs maybe is to help me want this unit? However, being that I am actually interested in this listing my question is whether or not that garage opening would handle most full sized cars, or in my case a 07 Touareg? I don’t need any anti-car rants please as I need a car for work.
The garage is larger than it looks. I suggest you come by and give it a try.
My favorite line in the listing:
“Tall ceilings make for spacious rooms that beg to be outfitted with sofas.” huh??? With sofas as opposed to…..? And, in reference to the master dressing area/bathroom:
“An area for your sundries and primping.” Very proper, indeed…
It’s a lovely place, but isn’t it on the other side of the block from where some construction is about to take place on Market? And why no pictures of the “lovely Eden” that awaits you in the back yard? I’d much rather see that than Zuni & the MUNI entrance.
Regardless of hyperbole or new construction, I have got to see it for myself. I like “your friends will never forget which place is yours.” Seems apt.
We have seriously considered a house in that block recently, 86 Waller, across the street. It was a single family home with a large private backyard with hot tub, private garage, 3 bedrooms 2 bathrooms, but less square footage than this unit, and access to lower floor was difficult (via a steep stair through the kitchen). It was listed for the exact same price, I wonder what it sold for?
Anyway, having evaluated the area, we got mixed feelings. This specific place is right next to where construction is starting (and will probably be going on for about 2 more years). Our realtor had told us that it was going to become apartments, but not 100% sure.
Otherwise, this is a surprisingly quitet block in an un-quiet area, right off Market and the freeway onramp. It is a block of its own, but once we walked out, we faced homeless people, shopping carts, and large apartment buildings without much character. Walking to Hayes is possible, it only take around 10 minutes, bit was not much fun, you have to walk 7-8 blocks, and cross the Fell/Oak corridor. It is in between some nice lively neighborhoods like Dolores, Hayes, Castro, but this area is distinctly outside all of them, and kind of feels like a “transitional” area without much personality. For commuting though, it doesn’t get any better, as the realtor aptly says so…
It may have good upside as the building next door completes, and depending on how the area transforms in the next few years, but right now, it is not very attractive.
86 Waller sold for $1,269,000 with multiple offers. It was 1494 square feet. I noticed some structural challenges with the building but did not do an inspection so am not sure what the implications are.
69 Waller is 2174 square feet according to the tax records – but I have not verified that square footage. My tape measure is not long enough 🙂
The site next door was sold to Joe Cassidy Construction. The project was owned by Bayrock Residential. I think it is going to have about 100 condo units. I am not sure the mix of commercial. If you would like to see the plans feel free to call me at 415.863.Katy (5289) or email me at Katy@863Katy.com.
A picture of the “eden” can be found at: http://www.69waller.com
This building has been structurally updated – beyond imagine. I showed my husband the garage (he collects cars and motorcycles) and he almost left me for the garage not to mention all the storage in the unit.
From what I can make of the layout and listing, what’s being offered is the middle unit. It’s very pretty, but for a million plus bucks and the resulting property taxes one must live with footsteps pounding down from above? We all know how sound pours through older SF construction.
If it doesn’t say “top floor” in the listing…it isn’t.
Who cares if this is the middle unit…this location is awesome and the layout from what I can tell looks wider than most Victorians. Totally love the exterior. I have tried to find a classic condo( Not TIC) with this much square footage AND original detail and its tough. I dont think it matters that this is a middle unit.
86 Waller is an SFR. Apples and oranges (and no HOA dues).
This is a nice, good-sized place. But I know this area well (my kids go to school a couple blocks away). And no way I would ever pay a million bucks for a middle condo in an area teeming with homeless and prostitutes come sundown. I don’t think the area is dangerous, just ugly.
This place is dirt cheap for a condo (not TIC) on a $/sqft basis.
@artsybroad
I’m with you. Sometimes you just have to laugh at the language in these listings, particularly when they give you lifestyle suggestions (e.g, from other listings: “The patio is a lovely place to enjoy your morning coffee,” “Some barstools would look great at this built in bar,”…)
I am a stickler for details, so forgive me if I’m being overly critical … but don’t you think they could have hung the curtains correctly in the living room (pic 4)? Did they forget to buy the last curtain or did they just get lazy and not buy a long enough curtain rod? Sloppy, sloppy, sloppy. It looks ridiculous. And no, I’m not a stager nor an interior designer.
I suspect that anyone who writes “Who cares if this is the middle unit” has never lived in the middle unit of a wooden building with hardwood floors. It’s bad enough to rent that (as I have done on several occasions) but there’s no way I would buy it.
Anon 5:56, you will also need to clear that tree with your SUV…
This is one of the most urban neighborhoods in the city. Boardering four different neighborhoods with good public transportation, fun places to party, eat and drink with nice weather. Haven’t you heard…”It’s always nice in Hayes Valley.”
why would anyone buy a tic anymore with all the brand new condo construction going up around town?
is it me or are these things at risk of becoming extinct? i’d welcome that as i’d love to buy one of these entire places and return it to it’s true glory and purpose, a single family home.
Regarding the hyperbolic “Tall ceilings make for spacious rooms that beg to be outfitted with sofas…” Here’s an updated version: Tall ceilings make for spacious rooms that beg to be outfitted with sofas — where you can relax while you go over your foreclosure papers.
People are still buying TICs….because…the “new” condos are just that new…and often held together by the sweat that went into building them.You can still get get a vic an ed…or should i say…Med….for less per sq ft prices and have a flat with some character.
But lots of the old places have been converted to condos too. A TIC might be slightly cheaper, but then YOU have to pay and suffer through the upgrades to convert it to condos, so the price differential isn’t worth it. So you save $50K and then have to pay it and have your house torn up.
And loans for TICs, though more expensive and with a much less range of options with much higher downpayments (limiting the pool of buyers), have become available during the period in which loans of all types were practically being thrown at homeowners, TIC loans are of VERY short duration, 5 years or less.
If the winds change, and we’ve seen how winds can change in a matter of minutes, those loans could evaporate, requiring you, or any buyer to get a group loan, and if one in the group defaults, your home gets repossessed and your credit is ruined. Good luck selling if that’s the only option.
Why anyone would buy one when condos in the older places are available, is beyond me. And anyone who would buy a TIC where the tenant was forced out (and you can’t even ENTER the condo lottery for ten years, and it takes another ten to get through it) is a fool. During that 20 year period, I wouldn’t count on the loan situation staying the same at all.
Whoa!!!
Tipster, are you saying that these loans are for five years with a balloon for the balance at the end of year five? This is common financing for a TIC? Saints preserve us.
Don’t worry about the loan situation with TICs, or any other type of real estate for that matter. According to my Realtor(TM), the prices of real estate only go up at 15% per year, and never go down. The average house in San Francisco will cost $12.9 million in 2025. People who do not buy real estate TODAY, including people who are too young, and people born in future generations, will be priced out FOREVER. They will live in tent cities, Honda Civics or on lunar colonies. I would advise everyone considering real estate to submit multiple offers on multiple properties immediately before prices take their historical 15% Christmas leap (what better gift for the wife for Christmas than a new house?).
And don’t forget: they’re not making anymore land. No one has ever factored that into a the price equation, so you can use this information to your advantage. “You heard it here first!”
Jimbo, you are forgetting that San Francisco is also the best place to live on earth for everyone and this blanket factor applies to every neighborhood of the city. That and the pride of ownership, and the humility of living on rent…
i think jimbo was making a joke. i hope. that was the hopeless real estate agent speak.
as for san francisco, i am getting quite an education as to the extent this crisis will affect us here. i didn’t think we had as many over extended folks as we do. here’s some facts:
348 pre-foreclosures as of this morning. here’s what that means.
Notice of Default
Classification Desc: Considered the first phase of the foreclosure process, a homeowner will receive this notice if he or she misses one or more mortgage payments in states that follow non-judicial foreclosure actions. This represents a great opportunity to purchase a home at a significantly reduced price before it is repossessed by a lender.
273 bankruptcies
dont think these are limited to the bayview folks. i surfed through them last night and quite a few are in condo’s and tic’s in nice parts of town.
Tipster is mostly right about TIC loans, but not entirely. First of all, for larger buildings (4-6 units) many come with what are called “individual” TIC loans, which means that if your neighbor defaults only their unit can be reposessed. You are all on the hook for property taxes together (only a single deed) but your bank loans are separate.
Second, TIC loans are indeed more expensive, but TICs are MUCH cheaper than condos, not just a little. If you a) are willing to gamble on winning the condo lottery during your period of residency, and b) buy a building in decent shape with all the permits so the conversion process is not too financially burdensome, you can win BIG. Yes, it’s a gamble, but what in real estate isn’t a gamble?
Of course we’re hoping to make money when we sell in 5-7 years, but really we bought our TIC because it was smack dab in the middle of my dream neighborhood and the apartment itself was so beautiful– an older building with character, but as bright, open and airy as a new condo. We paid just over $600 a square foot– and you wonder why I laugh at the prices in those big shiny boxes in South Beach!
Despite the allure of the building and neighborhood, we would not have bought it if we couldn’t have gotten an individualized loan with a reasonably long period before the loan resets (we got a 5 year fixed, and it is due to reset in 2012). I am comfortable with the choice we made, although I understand why some wouldn’t be. In the end, though, all that matters is that I love my home, and I can afford it.
“In the end, though, all that matters is that I love my home, and I can afford it.”
With a TIC, doesn’t it matter whether your neighbors can afford their homes too….
Does anyone know why this listing was withdrawn?