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Old 04-24-2010, 12:34 AM
 
2,234 posts, read 2,336,086 times
Reputation: 1129

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Are thier a lot of(or any) abandoned properties, or dirt cheap(like 10 grand and under)properties in SF. I wouldn't think so because it is considered a high-end city, but I was just curious, and wanted to make sure, because I plan in scoopin up dozens of my city's hundreds of dirt cheap real-estate investments, but it is hard to make a profit because the city is still losing population in most of the blighted neighborhoods in which these houses/properties reside.

I figure if I do something in an attractive city like SF, I would be almost guaranteed a hefty profit. I just don't know if such places actually exist.
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Old 04-24-2010, 12:55 AM
 
10,141 posts, read 14,904,073 times
Reputation: 6125
No. The land alone would have value far higher than that.
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Old 04-24-2010, 01:10 AM
 
Location: San Jose, CA
6,868 posts, read 16,981,417 times
Reputation: 2581
No.

This is $35K for a bare patch of land, sloped to the side, overlooking a freeway and the Alemany public housing projects, with no infrastructure in place (not even a road) and no studies done.

109 Roscoe St, San Francisco, CA 94110 | MLS# 361691
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Old 04-24-2010, 11:31 PM
 
14,199 posts, read 26,341,715 times
Reputation: 8357
Nope... there were abandoned homes back when I was in High School.

The definition of abandoned at that time applied to property the city owned for back taxes... The city had so many, (Oakland) that they offered to sell them for $1 on the condition you move in, spend something like $3000 in improvements and live their for 5 years... after meeting the conditions, the home was yours for $1

Some of the dollar homes back in the 70's were sold in the mid 400k range during the boom and now, some are Bank Owned REO's that go for around 100k
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Old 04-25-2010, 01:09 AM
 
Location: The High Seas
5,756 posts, read 7,293,280 times
Reputation: 6758
Quote:
Originally Posted by sonarrat View Post
No.

This is $35K for a bare patch of land, sloped to the side, overlooking a freeway and the Alemany public housing projects, with no infrastructure in place (not even a road) and no studies done.

109 Roscoe St, San Francisco, CA 94110 | MLS# 361691
Heck, that tree, alone is worth about 20 grand. Figure, each stone on the property is worth a good five bucks, and there are literally hundreds of 'em.....
I'd say it's a steal at only 35K.
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Old 04-26-2010, 11:57 AM
Status: "It's 5 o'clock somewhere." (set 23 days ago)
 
Location: Mountain Ranch, CA The heart of Calaveras County
6,175 posts, read 11,595,668 times
Reputation: 4950
LOL nice property. No street access, I can't imagine what it would cost just to extend the pavement that far. 1750sf? The listing agent says build your dream home on it! I couldn't even build my dream garage on it.
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Old 04-26-2010, 02:32 PM
 
Location: San Jose
894 posts, read 1,352,804 times
Reputation: 723
Quote:
Originally Posted by DMenscha View Post
LOL nice property. No street access, I can't imagine what it would cost just to extend the pavement that far. 1750sf? The listing agent says build your dream home on it! I couldn't even build my dream garage on it.
Check the price history - the seller was originally asking $59k, then $69k. At $35k you get it for HALF PRICE! What more incentive do you need? You don't expect the seller to GIVE it away, do you?
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