53-57 Pearl St | Mission Dolores
List Price: $1,950,000
Sold Price: $2,025,000
SP % LP: 103.85%
Property Type: 6 Unit Building
Property Stats: 1 Car Parking // 4,683 Square Feet
San Francisco Neighborhood: Mission Dolores
Property Details: A well maintained, 6 unit building in Mission Dolores with 1 car garage with room for expansion. Walking distance to Market, a future Whole Foods, Valencia and Hayes/Octavia. Each unit has 1 bedroom (can function as 2 bedroom units) with hardwood floors, gas wall heaters, periodic details and bay windows. All units have a split toilet/bath and washer/dryer hookups on the back porch. Kitchens and bathrooms have been upgraded over time. The building is separately metered for gas and electric with a master water meter. A turnkey property with tremendous upside for investor, owner occupied or TIC opportunity. Buyer to conduct due diligence on parking expansion. Unit 53A, the parking garage and large storage area are owner occupied.
Client Story: The final step in the 2 unit Reverse exchange transaction. After carefully preparing a full disclosure package for agents and buyers to review, Red Bridge held four property opens and arranged for 12 private viewings. On the day offers were due we managed to show the units again to four buyers at the same time so everyone saw who the competition was. Offers were increased and we received 5 offers, countered 4 at higher prices and received one outstanding opportunity.
Value Red Bridge Group brought to the table:
- Analyzed rent increase opportunities
- Had a contractor present a cost bid on adding 6 additional parking to the building
- An thorough disclosure package so the buyers had no way to back out of their offer once in contract.