Site Conditions
Results of Our Work
Hard Sell, Soft Landing
Tenants-in-common (TIC) properties, in which separate units share space, are notoriously difficult to sell under the best conditions. Compared with a typical condominium-type property, they take longer to close and are valued at about 20% less per square foot.
At this particular TIC in San Francisco’s Cow Hollow neighborhood, we were not looking at the best conditions:
After much deliberation and analysis, we determined to list the units as separate homes, rather than a combined offering, to yield the most competition and best sales result. Then, step by step, we worked to fix problems and maximize the value of each unit.
We brought in a waterproofing expert to assess the leaks. Our contractor installed a wall to turn the studio into a more marketable one-bedroom apartment. We artfully transformed both units with updated colors for cabinetry, hardware, and more. The tenants moved out as they were close friends with the seller.
Following a clearout of both units, we transformed them into inviting spaces. High bids, cash and contingent-free, came in immediately from buyers who just had to have it. After 10 days on the market, their offers won out at $2.4M for Unit #5 ($601,000 over asking) and $1.7M for Unit #6 ($201,000 over asking).
Hall Bathroom (before) The hall bathroom base cabinet was delaminating. It was never built to sustain the durability required from a high-use bathroom. The copper sink was a mismatch, and the mirror felt choppy and deteriorated.
Hall Bathroom (after) A new base cabinet installation presented the ideal opportunity to introduce a dual sink stone countertop and clean-lined faucet for a contemporary look. The large mirror brightened the space. We retained the wall tile to keep costs down with great visual success.
Unit #5 Studio (before) Unit #5 was configured as a studio with no defined bedroom. Craig advocated for a separating wall and door to be installed at little expense. Why? Return on investment! Comparable studio units were selling for a fraction of the sales price of a one-bedroom unit.
Unit #5 Converted to One-Bedroom Unit (after) By separating this bedroom from the rest of the living space, we enhanced buyer responsiveness.
Unit #5 Kitchen (before) The ceilings throughout the unit had been opened up in an attempt to trace leaks from the rainy season (see the plastic held up by blue tape). The dark countertop was unappealing and broke up the otherwise clean counters and working surfaces. We were eager to paint that to complement the beautiful marble countertop island better.
Unit #5 Kitchen (after) Roof repairs allowed us to close up the walls with integrity. The dark wooden elements of the otherwise bright countertop were painted white to better blend with the classic marble countertop surface.
Unit #6 Kitchen (before) The Unit #6 kitchen included this large wall of dark-colored slate tile which appeared drab and inconsistent. The wooden element of the countertop matched the cabinetry, so there was some value to it.
Unit #6 Kitchen (after) The new and improved kitchen had a much more appealing impact on touring buyers
Unit #5 Living Room (before) Plastic wrap and blue tape dominated the ceiling skylights. Dark furniture, a thick area rug, and a built-in bench at the bay windows were all uninspiring features.
Unit #5 Living Room (after) Clean, sheetrock walls brought back the symmetry and definition of the original design intent, and light seemed to dance around the room for a dramatic effect. Scaled-down furniture and freshly painted walls gave us just the upscale impact we were seeking.
Roof Deck (before) It was hard to overlook the neglected plant beds, dreary wooden floor planks, and mildew-covered glass, which detracted from the gorgeous views of the Golden Gate Bridge, Alcatraz, the Palace of Fine Arts, and all the boating activities of the bay.
Roof Deck (after) A coat of fresh stain, cleaning of the glass partitions, and new succulents brought ease and confidence back to the space so buyers could take in all the unique views these Cow Hollow neighborhood units offered.
Stay up to date on the latest real estate trends.
November 4, 2024
Understanding the Shift Back to Standard Time and How It Affects Daily Life in San Francisco
December 13, 2023
Gold Beneath the Surface: When a home is worth the effort, renovation is a labor of love. Even we were blown away by the value added to this inherited four-bedroom in … Read more
December 13, 2023
Modernizing a Rat Pack Hangout: Nostalgia is powerful, especially when you’re talking about a home frequented by Frank Sinatra! But we had to bring this unique home in… Read more
December 13, 2023
Keep It Clean and Simple: Sellers often assume costly renovations are needed when a much simpler solution is best. We got $519K over asking with a simply clean look fo… Read more
December 13, 2023
Hard Sell, Soft Landing: Tenants-in-common (TIC) properties, in which separate units share space, are tough to sell—especially when tenant-occupied, walls cut open, an… Read more
December 12, 2023
From Toil to Triumph: When they inherited responsibility for this house in the Crocker Amazon neighborhood of San Francisco, it meant a time-consuming burden for two y… Read more
October 19, 2023
The Sputtering Real Estate Market: We targeted buyers who would be willing to compete for the home-expanding families. They'd love the neighborhood and the home's many… Read more
February 13, 2023
The Thanksgiving Offering: Around Thanksgiving, Craig met two sisters who had inherited their 1950s-era family home. The 5-bedroom, 2-bath house, adjacent to McLaren P… Read more
February 9, 2023
No Need to Wait for Spring: The sellers had two adorable, very active small children. So no surprise, the home looked lived-in damaged hardwood floors, loud child-them… Read more
By phone, Zoom, or in person. We’ll get your questions answered.