Landlords in San Francisco inked 391 legally recorded tenant buyout agreements last year, as mapped above, up from 333 agreements in 2020 and including a couple of deals which had been in the works since 2016.
According to our queries of the City’s database, the highest reported buyout agreement totaled $469,563 last year but was split between four tenants in a multi-family building in Presidio Heights. The largest payout per tenant was $225,000, with two tenants splitting $450,000 to vacate a Mission Terrace home which was then sold for $1.4 million (with an unwarranted lower level “space” that included a finished bedroom, bathroom, living room, kitchenette and private entrance). And the largest payout to a single tenant was for $200,000, to vacate one of the units in the Duboce Triangle Edwardian at 40-42 Sanchez Street which was then listed as a vacant three-unit building for $2.798 million and is now in contract.
The average reported buyout agreement in San Francisco totaled $46,676 last year according to our queries, with an average payout of $29,270 per tenant (which was up from an average agreement of $44,714 and $29,216 per tenant in 2020). And for the fourth year in a row, the Mission was the San Francisco neighborhood with the most inked buyout agreements (47), but now followed by the Sunset (37), Haight-Ashbury (36), Eureka Valley (31), Parkside (29) and Ingleside (29).