san francisco

JUST LISTED: Historic building - 2501 Ocean Avenue (Lakeside) - IN CONTRACT

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PROPERTY OVERVIEW

2501 Ocean Avenue is located in the heart of the Lakeside District with high visibility and heavy foot traffic. Subject property occupies the tip of the triangular parcel of land where Eucalyptus Drive intersects Ocean Avenue, facing toward Junipero Serra Boulevard. 

  • Built by Harold G. Stoner in 1940, in the Streamline Moderne style -- an offshoot of the Art Deco style 
  • Surrounded by affluent neighborhoods such as St. Francis Wood, Merced Manor, West Portal, Balboa Terrace, Ingleside Terrace, and Forest Hill
  • Numbers of shops, services, eateries, parks/playgrounds, and schools on Ocean Avenue and surrounding areas in close proximity
  • Within a 1.5-mile radius: Stonestown Galleria, Trader Joe's, Olive Garden, Macy's Nordstrom, YMCA, SAn Francisco State University, Citibank, Stern Grove 
  • Easy access to Muni buses and lightrail, along Junipero Serra Boulevard, Ocean Avenue, and 19th Avenue (Muni buses arrive on average every 7 minutes) 
  • Quick and convenient commute options also include quick access to I-280, which links with points south and east, as well as Highway 1 (19th Avenue), less than two blocks away
  • Plenty of off-site parking with parking lot across the street

NEIGHBORHOOD: LAKESIDE

Lakeside is a long, narrow neighborhood in southwest San Francisco, located between the Stonestown and Ingleside Terrace neighborhoods.  Despite its name, Lakeside is not next to the nearby Lake Merced, but it is very close to San Francisco State University and the Stonestown Galleria.  Bordered by Junipero Serra Boulevard and 19th Avenue, two of the busiest streets in San Francisco, Lakeside is a well-kept and surprisingly tranquil haven in the midst of a bustling city. 

Despite its seemingly out-of-the-way location in the outlying reaches of San Francisco, Lakeside is actually well situated.  In addition to a number of shops, services, and eateries at the northern end of the neighborhood, the Stonestown Galleria, which is literally across the street to the west, offers many conveniences and amenities (including Trader Joe’s and Macys).  Public transportation, which includes bus service and light rail, is readily available making the commute quick and convenient.  I-280 which links with points south and east is a few blocks away, and Highway 1 (19th Avenue), heading north toward Marin is just outside the door.

Developed by Stoneson Development Company in the years between 1936 and 1950, Lakeside was a pricey subdivision for its time, offering lovely homes and embracing the modern notion of putting utility lines underground.  Although most of the homes are relatively modest by today’s standards they are attractive and well maintained.  Several homes are a little more luxurious – including the “mansions” that the Stoneson brothers built for themselves.  Many homes in Lakeside still sport the white picket fences that were considered a signature for the neighborhood in its early years, offering the neighborhood an old-fashioned charm.

OFFERING MEMORANDUM

To view or download the offering memorandum, please click here.

CONTACT

For additional information regarding subject property or if you'd like to inquire about other listings, please contact Brian Leung at (415) 288-7881 or email at brian.leung@colliers.com. 

Shared: You Must Make At Least $137,129 A Year To Afford A Home In San Francisco (Huffington Post)

By Hunter Stuart

You need to make a gross salary of at least $137,129 a year to be able to afford the base costs of owning a median-priced home in San Francisco, according to a new report from mortgage-tracker HSH Associates. | Mitchell Funk via Getty Images

You need to make a gross salary of at least $137,129 a year to be able to afford the base costs of owning a median-priced home in San Francisco, according to a new report from mortgage-tracker HSH Associates. | Mitchell Funk via Getty Images

You'd better get a promotion (or six) if you ever want to afford even a moderately-priced home in San Francisco.

You need make at least $137,129 a year (before taxes) to afford a home in the Fog City, which according to a new report is the most expensive city in the country for home buyers.

Please click here to read the rest of the article from Huffington Post.

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Shared: Hunters Point Shipyard transformation in home buyers' hands (SFGate)

By J.K. Dineen

Hunters Point Shipyard transformation in home buyers' hands (SFGate)

Michael Brown sprays down the land at the Shipyard, the new development at Hunters Point in San Francisco. Photo: Tim Hussin, Special To The Chronicle

Michael Brown sprays down the land at the Shipyard, the new development at Hunters Point in San Francisco. Photo: Tim Hussin, Special To The Chronicle

Since 1997 Lennar Urban has been selling its vision of a revitalized Hunters Point Shipyard to everyone from Bayview district neighbors to union bosses to environmentalists.

Now the builder is ready to start selling to the one group that matters to its shareholders: home buyers.

With the wooden frames of 88 town houses and flats marching up the hillside off Innes Avenue, Lennar is putting the final touches on its "welcome center": a 3,500-square-foot industrial chic modular building with a fireplace, comfy seating and an expansive deck overlooking the bay.

While 88 homes is a modest number in a city with thousands of units under construction, it's important because it is the start of arguably the most ambitious real estate development plan in the city's history: a $7 billion, 750-acre project aimed at transforming an abandoned Navy complex into a neighborhood with 12,000 homes and millions of square feet of office and retail space.

Please click here to read the rest of the article from SFGate.

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Shared: S.F. Mayor Counts Existing Homes to Hit Affordable Housing Goal (SF Public Press)

By Noah Arroyo and Josh Wolf

Nearly 40% of subsidized units cited already exist

In a speech so subtly phrased that it threw off the New York Times, CNN and several local news outlets, San Francisco Mayor Ed Lee seemed to promise early this year that the city would build at least 10,000 homes for poor and middle-class residents within six years.

But the mayor’s current housing forecast, which counts up planned construction projects, shows that barely 6,000 of these affordable homes would be new. The remainder, up to 40 percent of the total, would consist of rehabilitated public housing. While repairing those homes will benefit the low-income tenants who live in them, doing so would add little or no new housing.

The mayor’s housing staff readily supplied details about the projects that went into his housing plan. But they did not respond to subsequent requests for comment about how rehabilitated units would address the city’s crisis in affordable housing, as skyrocketing prices leave few options for those who cannot afford the market rate.

Please click here to read the rest of the article from SF Public Press.

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Shared: Why are There So Few Homes for Sale in San Francisco? (Curbed SF)

By Tracy Elsen

As we all know, San Francisco real estate prices are skyrocketing, and low inventory is almost always considered to be a factor in these major price jumps. But why are there so few homes for sale in a city where the market is so hot? Real estate site Redfin has identified four major categories of homes that are unlikely to go on sale, and sees all of them in San Francisco's real estate mix. In fact, in San Francisco only .3% of existing homes are currently for sale.Of all the major housing markets examined by Redfin, this was the second lowest, after only San Jose.

Please click here to read the rest of the article from Curbed SF.

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Please contact brian.leung@colliers.com
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