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Old 04-24-2010, 12:34 AM
 
2,240 posts, read 2,853,749 times
Reputation: 1154

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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
 
10,564 posts, read 18,077,642 times
Reputation: 6500
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
7,410 posts, read 20,167,650 times
Reputation: 3112
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
 
17,452 posts, read 33,888,374 times
Reputation: 10668
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
6,101 posts, read 9,177,094 times
Reputation: 7683
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
 
Location: Mountain Ranch, CA The heart of Calaveras County
6,570 posts, read 14,243,531 times
Reputation: 5606
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
998 posts, read 1,750,869 times
Reputation: 890
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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