Flippers made an average 31.32% gross return on investment in San Francisco during the last twelve months, according to new research from property website RealtyTrac, which has put together a flipper heatmap for the entire country. The city experienced 387 total flips during this time, far below other areas in California like Los Angeles County, which had 3,095 flips and San Diego County, where there were 1,950. San Francisco-based flippers faced similar problems as other buyers in the city: low inventory and high prices. Flippers are spending an average price of $648,156 to buy flips and then selling them again for an average price of $851,178. That sales price is the third highest for flips in the country, behind only Pitkin County Colorado, home to Aspen, and Marin County, just over the bridge.
San Francisco has one of the highest estimated expenditures on improvements at $13,900 per flip, coming in behind only Atlanta and Scottsdale, Arizona. Many San Francisco flippers improved kitchens, bathrooms and windows, improvements that all led to a higher ROI. However, while the city was listed by RealtyTrac as the fourteenth best market for flipping a house last year, this year it didn't make the list of top flipper markets.
· 14 Best Counties for Profitable Home Flipping in 2014 [RealtyTrac]
· US Home Flipping Report Q1 2014 [RealtyTrac]