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18 Lansing St APT 403
San Francisco, CA

18 Lansing St APT 403

$1,483,900
2 bd • 2 ba • 1,688 sf

This analysis was generated by artificial intelligence on 1/27/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$1,483,900

Price/Sq.Ft

$879

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Spacious Layout: With 1,688 square feet, this 2-bedroom property offers a generous amount of living space compared to many other 2-bedroom apartments in San Francisco. The image shows an open floor plan with high ceilings and large windows, which can appeal to buyers seeking a modern, airy living space. • Downtown Location: The property's address in San Francisco places it in a prime urban location, offering proximity to downtown amenities, public transportation, and cultural attractions. This location is highly desirable for those who prefer a walkable, urban lifestyle. • Strong Rental Market: San Francisco has a strong rental market with high rental rates. The 2-bedroom rental rate of $4,350 in 2023 indicates a solid potential for rental income for investors. • High Median Income Area: The median income of $244,662 in the area suggests a desirable location with a strong economy, which can be attractive to both owner-occupants and investors. • Modern Aesthetic: The provided images suggest the property has a modern aesthetic with concrete floors, an open layout, and updated fixtures. This may appeal to buyers seeking a contemporary living space.

The Bad

• High Price Per Square Foot: At $879.09 per square foot, this property is priced at the high end of the market, which could make it difficult to resell in the future. Comparable properties in San Francisco may be available at a lower price point. • Lack of Property Details: The absence of a property description, room details, and utility information makes it difficult to assess the property's true value and condition. This lack of transparency can raise red flags for potential buyers. • No Listed Property Features: The lack of listed features makes it challenging to compare this property to others on the market. Buyers may prefer properties with specific amenities or unique features. • Limited Information about the Building: The lack of information about the building's age and history makes it difficult to assess its structural integrity and potential maintenance needs. This is particularly concerning in an earthquake-prone area like San Francisco. • Potential for High Monthly Ownership Costs: With the high purchase price and potential for substantial HOA fees and property taxes, the monthly cost of ownership will be significant. This may price out many potential buyers.

The Ugly

• High Total Cost of Ownership: With a purchase price of $1,483,900, the total cost of ownership will be very high, especially when factoring in potential HOA fees, property taxes, and insurance. This can make the property unaffordable for many buyers. • Potential for Unforeseen Repair Costs: The lack of information about the building's age and condition, as well as the absence of a property description, raises concerns about potential repair costs. Older buildings may require significant upgrades and maintenance, potentially adding to the overall financial burden. • Lack of Transparency: The absence of detailed information about the property, including room details, utility information, and property features, creates a lack of transparency. This can make it difficult for buyers to fully assess the property's value and condition. • Earthquake Risk: San Francisco is located in an earthquake-prone zone. The lack of information about seismic retrofitting and insurance implications raises concerns about the property's vulnerability to earthquakes and the potential financial losses associated with seismic events. • Competition from Cash Buyers: San Francisco's real estate market is known for its intense competition, with many buyers offering all cash, making it challenging for buyers who need financing to compete. This may put buyers at a significant disadvantage.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• High-Income Professionals: With a median income of $244,662 in the area, this property caters to buyers who can comfortably manage the high monthly payments and initial down payment. The estimated monthly cost could be around $8,000-$10,000, assuming a 20% down payment and current interest rates. • Urban Lifestyle Enthusiasts: The loft-style layout and downtown location are ideal for those seeking a modern, open-concept space within a vibrant urban environment. The proximity to city amenities and public transportation is a key selling point. • Buyers Prioritizing Space and Light: The 1,688 sqft size is above average for a 2-bedroom in San Francisco, and the large windows suggest ample natural light, as seen in the provided images, which is a premium in the city. • Investors Seeking Rental Income: With a 2-bedroom rental rate of $4,350 per month in 2023, this property has the potential to generate a reasonable rental income, although the high purchase price will impact the return on investment. Investors should expect a cap rate in the 3-4% range which is typical for San Francisco. • Buyers Comfortable with Minimalist Design: The concrete floors, open layout, and modern fixtures suggest a minimalist aesthetic. This property is best suited for those who prefer this design style.

Not For

• Budget-Conscious Buyers: The high purchase price of $1,483,900 and the need for a substantial down payment make this property unaffordable for many buyers. The high monthly cost of ownership will exclude those with lower incomes. • Families Requiring More Bedrooms: Although the property is spacious for a 2-bedroom, families requiring three or more bedrooms will find this property unsuitable. The lack of information on the layout makes it hard to determine if it could be extended to add bedrooms. • Buyers Seeking Suburban Amenities: This property is located in a dense urban area with limited green space. Buyers seeking a suburban lifestyle with access to parks and larger lots will not find this property ideal. • Buyers Needing Ample Parking: The absence of parking information suggests that on-site parking may be limited or non-existent. Buyers who rely on cars for transportation may find this property inconvenient. • Buyers Preferring Traditional Architecture: The loft-style layout, concrete floors, and modern fixtures may not appeal to buyers who prefer traditional architectural styles and finishes. The open concept might not be ideal for those seeking more defined living spaces.
Demographics
Area Median Income

$244,662

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Risk Assessment

Risk Analysis

• High Purchase Price: The price of $1,483,900 is significantly above the national average, which increases the risk of potential price fluctuations in the market. A market downturn could negatively impact the property's value. • Unknown Building Age and Condition: The lack of information on the year built and specific property features introduces uncertainty about the property's condition. Older buildings may require more maintenance and repairs, leading to unexpected costs. • Lack of Utility Information: The absence of utility information raises concerns about the age and condition of the plumbing, electrical, and HVAC systems. Older systems may be less efficient and require expensive upgrades. • Limited Information on HOA Fees: If the property is part of a condo or TIC, substantial HOA fees could increase the monthly carrying costs. The lack of information about these fees makes it difficult to accurately assess the total cost of ownership. • Market Volatility: San Francisco's real estate market is known for its high volatility, with prices subject to significant fluctuations based on economic conditions and demand. This volatility introduces an element of risk for buyers concerned about potential value loss.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$1,699,800

14.5% above list price

Median Price

$2,050,000

Based on 6 recent sales

Price per Sq.Ft

$1,151

Comparable Properties

466-470 Union Street, San Francisco, CA 94133
Price: $2,088,800
Sq.Ft: 1,717
Beds/Baths: 2/2
$/Sq.Ft:
$1,21738.4%
Sale Date: 10/14/2024
260 King St #1505, San Francisco, CA 94107
Price: $1,060,000
Sq.Ft: 1,488
Beds/Baths: 2/2
$/Sq.Ft:
$71219.0%
Sale Date: 11/15/2024
201 Folsom Street #28G, San Francisco, CA 94105
Price: $2,300,000
Sq.Ft: 1,401
Beds/Baths: 2/2
$/Sq.Ft:
$1,64286.7%
Sale Date: 11/26/2024
301 Mission Street #17A, San Francisco, CA 94105
Price: $990,000
Sq.Ft: 1,479
Beds/Baths: 2/2
$/Sq.Ft:
$66923.9%
Sale Date: 10/22/2024
350 Jackson Street #402, San Francisco, CA 94111
Price: $1,710,000
Sq.Ft: 1,471
Beds/Baths: 2/2
$/Sq.Ft:
$1,16232.2%
Sale Date: 10/18/2024
201 Folsom Street #23E, San Francisco, CA 94105
Price: $2,050,000
Sq.Ft: 1,366
Beds/Baths: 2/2
$/Sq.Ft:
$1,50170.7%
Sale Date: 11/2/2024

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