I saw 179-181 27th Street in Noe Valley on broker tour last week, and thought it was a great project for either TIC partners (two units carry a lot less risk for TIC arrangements) or one owner with an eye toward investment. The property features two large 2BR/1BA Victorian flats priced at $650,000 and $750,000 (entire building listed at $1,395,000). The kitchens in both units could use updating, and there are certainly some major structural issues that need attending. For example, the building has no heat. (An estimate is on file for about $14,000 for heat installation.) There's also a $28,000 termite report. But on a long-term basis, this building could work well for the right buyer.
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