What/Where: $1.9M for a Cole Valley four-plex (four 1-bed, 1-bath units).
Looks Good, Right?: Exterior seems cute, good part of town, good access to shopping and restaurants. Two parking spaces (presumably for the units paying a little more).
The Catch: All units occupied, which a few years ago might have been swell—especially for the current landlord, who paid $775k for the building in 2001. Now? Maybe not so great. As housing numbers go down, rental numbers typically go up. No taking advantage: as this building is in San Francisco, it will experience static rents for quite a while. Is $8,754 per month enough to cover the much higher mortgage and other expenses? It'll have to be, unless the current occupants get itchy feet. If this ain't working for someone who bought it for less than half as much, we're skeptical about it working for others at a much higher list price.
· 180 Carl St. [MLS]
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