What $3 Million Buys In SF’s Marina District

The strategic underpricing of real estate listings followed by buyer overbids in San Francisco is a tale as old as time (unless we’re talking about brand new construction homes). BUT every so often homebuyers are gifted with a “buy it now” transparent price and the opportunity to purchase in a non-competitive fashion. Sometimes this is the result of a failed attempt to get multiple offers from the outset, other times it’s a function of seller motivation, and still other times it’s just plain old traditional-style marketing. Not all transparently priced listings are priced to sell on par with comparable properties, but for what it is, it can be a favorable alternative to suffering buyer fatigue.

Below, we’ve compiled a selection of transparently priced homes currently for sale. Enjoy!

ADDRESS UPON REQUEST | $2,800,000 Transparent Price

Neighborhood: Marina District

Photo credit: VULCCA

Let’s begin with this VULCCA Exclusive. Don’t be fooled by this one photo — improvements are in progress on this classic bungalow. New custom windows and fresh exterior paint are on the way, as well as a new rear balcony overlooking the oversized backyard which was re-landscaped in late 2021. Inside the 2-bed/1-bath main floor, you’ll find original details in serviceable condition: hardwood flooring, trimmings, fireplace, etc. Downstairs and behind the 1-car garage is a legal 1-bed/1-bath garden unit with full kitchen, high ceilings and independent access. The property is fit to move right in and make cosmetic updates over time, and perhaps build vertical to capture landmark views. It’s also in a NC-2 zoning district which affords redevelopment options (you’ll notice that next door is the Maison au Pont luxury condo building). Award-winning restaurants, boutique grocers and neighborhood amenities on Chestnut and Lombard Streets anchor the block. While work continues on the property, it can be shown and purchased: contact us.

2459-2461 FRANCISCO STREET | $3,000,000 Transparent Price

Neighborhood: Marina District

2459-2461 Francisco Street is marketed and listed exclusively by cooperating broker Sotheby’s International Realty. Listing photos above courtesy of SFAR MLS.

Reasonably comparable to the home above, this one nearby also has a legal garden unit located behind the 1-car garage. Speaking of that lower unit, it comes with a (rent-controlled) tenant paying approximately $4,100 per month according to the listing agent. That’s a decent amount to offset the mortgage — it’s pretty close to market rate for being 2 bedrooms. Contributing to this property’s larger square footage, too, is a sunroom at the rear of the 2-bed/1-bath main floor. The extraordinarily well-maintained original features of this place are lovely. The kitchen and bath, however, could use some modernization. It’s worth pointing out that this block of Francisco Street is entirely residential, making for a somewhat slower-paced environment than our VULCCA Exclusive. The sale of this house will be contingent upon the seller finding a replacement property (sounds a bit up in the air), but qualified buyers can get a look inside by appointment: contact us. See all the property details here.

2147 BAY STREET | $2,495,000 Transparent Price

Neighborhood: Marina District

2147 Bay Street is marketed and listed exclusively by cooperating broker Sotheby’s International Realty. Listing photos above courtesy of SFAR MLS.

Dialing down the size and price is this beautifully updated 2-bed/2-bed condominium. Condo ownership of course comes with certain limitations: limits on what you can do with the space, limits on privacy, and limits on financial freedom in the form of HOA dues. In a small building like this one, however, operations tend to be more informal and the fees lower than those those in large developments. This home’s condition appears rather immaculate inside and out. Even the shared outdoor space is ready to enjoy with a celebratory post-closing bottle of bubbly. This home is due to come on the market in a week or two, so time is running out to making a move on it at the “buy it now” price. It’s being shown now to pre-approved buyers by appointment only: contact us. See all the property details here.