{"id":2314,"date":"2024-04-25T08:46:51","date_gmt":"2024-04-25T13:46:51","guid":{"rendered":"https:\/\/tomo.com\/blog\/?p=2314"},"modified":"2024-05-31T12:12:34","modified_gmt":"2024-05-31T17:12:34","slug":"the-best-home-flips-in-san-francisco","status":"publish","type":"post","link":"https:\/\/tomo.com\/blog\/the-best-home-flips-in-san-francisco\/","title":{"rendered":"The Best Home Flips in San Francisco"},"content":{"rendered":"\n

If you\u2019re going to San Francisco, wear flowers in your hair\u2014and keep an eye on economic trends. With its fast moving real estate market and enviable local culture, the city is once again a magnet for potential buyers. Many buyers love the quirky, classic architecture style that is unique to San Francisco. Finding the happy medium between modern comforts and vintage charm can add tens of thousands of dollars to the home\u2019s valuation.<\/p>\n\n\n\n

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Tomo, a Stamford-based real estate company, analyzed the most successful home flips in San Francisco, CA<\/a>. The top five flips generated a total increase to sale price of $4.6 million. While some were straightforward flips, most of the properties underwent complete home renovations. Some homes more than doubled in value, from an increase of 77 percent to 119 percent. Most were complete home renovations.<\/p>\n\n\n\n

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Flip your home without flipping out<\/strong><\/h4>\n\n\n\n
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In a competitive market, it can be tempting to go overboard with a home flip. Yet, sensible, built-to-last improvements can add more value than a complete makeover. The most desirable homes for sale in San Francisco<\/a> are in walkable neighborhoods, near parks and great restaurants. They combine craftsman details, such as oak flooring, original facades and porches, and green space or backyards. <\/p>\n\n\n\n

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San Francisco is a market where location is king. Buyers look for local appeal and commute time. They also want the most value for their money, with an eye to reselling in five to fifteen years. According to Tomo\u2019s data analysis, the top home flips included a total home renovation. In these cases, structural elements such as flooring, load-bearing walls, and more were transformed to show the property\u2019s best qualities.<\/p>\n\n\n\n

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A golden real estate market<\/strong><\/h4>\n\n\n\n
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As urban centers recover from a pandemic-related downturn in 2020, San Francisco is entering yet another boom. A recent study from LinkedIn<\/a> showed that younger, professional workers are returning to the city\u2014and looking to buy. The Bay Area was second in the nation for cities attracting professional workers. According to the latest American Community Survey by the Census Bureau<\/a>, the median household income for the city of San Francisco stands at $136,692, with the biggest increase in the Bay Area over the last decade (+51 percent). The highest-earning group are young professionals from 25 to 44 years old, earning $182,288.<\/p>\n\n\n\n

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While other urban areas may be slower to rebound, San Francisco is staying gold. The Bay Area is still the top market for receiving VC funding during the last quarter, capturing nearly $11 billion. (For comparison, this is nearly three times the VC funding raised in New York in the same period.) <\/p>\n\n\n\n

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Commuters, young professionals, and new families are looking for details that make their home feel comfortable and attractive. Tech workers might not be \u201chandy\u201d do-it-yourself types who want to spend a rare weekend at the hardware store. With this in mind, the most valuable flips included updates that won\u2019t need serious repairs for a decade or more. The best flips included refreshed kitchens, new appliances, a new roof, updated electrical and plumbing, and more.<\/p>\n\n\n\n

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Here are the top 5 listings that made Tomo\u2019s Phenomenal Flips List.<\/strong><\/p>\n\n\n\n

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#5. 1370 Quesada Ave<\/a><\/h4>\n\n\n\n
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This midcentury modern four-bedroom home has great bones, accented by thoughtful renovations throughout. Its no-stress, no-mess layout more than doubled its price tag. Purchased for $600K in 2022, this home sold for $1.06 million in February 2023 at an increase of 77 percent. This home includes every creature comfort, including a lovely backyard and natural light throughout. A new roof, new windows, new interior and exterior paint, add even more value.<\/p>\n\n\n\n

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#4. 801 Rockdale Dr<\/a><\/h4>\n\n\n\n
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Situated on a corner lot in the ultra-desirable Miraloma Park neighborhood, this detached home is huge inside. The main level includes 3 bedrooms and 2 bathrooms, a spacious and airy dining-living area, and renovated kitchen. The lower level adds another 1 bedroom and 1 bathroom, family room or lounge, fireplace, and more. With its low-maintenance backyard and green energy-friendly appliances, this flip increased its valuation by almost 89 percent, closing at $2.07 million only four months after the original purchase.<\/p>\n\n\n\n

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#3. 2555 30th Ave<\/a><\/h4>\n\n\n\n
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San Francisco conjures instant swankiness. This four bedroom, four full bath home\u2019s elegant design improvements tie together panoramic Pacific Ocean views, redwood accents, and a resort-like luxury vibe. Custom cabinets, six skylights, a 7-foot premium maple butcher block island, Thermador appliances, and spacious rooms are only a few elements that made this home a top flip. Within one year, this home doubled in value. Originally purchased in 2022 for $1.4 million, it resold 92 percent higher within twelve months at $2.7 million.<\/p>\n\n\n\n

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#2. 751 Moultrie St<\/a><\/h4>\n\n\n\n
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The city\u2019s storied past is perfectly preserved in this Edwardian gem. With a final price tag of $1.85 million, this home added almost $1 million to its 2023 purchase price of $910,000. Tastefully remodeled, this home doesn\u2019t compromise on hard-working style, from an updated kitchen with quartz countertops and stainless steel appliances, to newly refinished hardwood floors that still glow. A functional wood burning fireplace, box beam ceilings, and classic period details make this home a stand-out find.<\/p>\n\n\n\n

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#1. 419 Arlington St<\/a><\/h4>\n\n\n\n
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This home was Tomo\u2019s top flip for San Francisco, netting an 119 percent increase. The home was purchased for $810,000 in 2023. Within five months (and a healthy flip), it sold for $1.77 million. All three levels of this home are maximized for comfort, such as French doors to the back of the house, custom-made cabinets, quartz countertops, an island bar, and an airy layout. An outdoor deck in the low-maintenance backyard includes a soaking tub for unwinding.<\/p>\n\n\n\n

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What’s Next<\/h4>\n\n\n\n

Are you contemplating a total renovation? Want to turn a tear-down home into a valuable asset? Now might be the time to flip. New buyers in San Francisco are looking for contemporary, sleek homes with modern amenities and plenty of personality\u2014and a price tag to match.<\/p>\n\n\n\n

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Interesting in flipping houses, but your heart is not settled on San Francisco, check out our list of cheap homes for sale in the California region.<\/a> Want to see what not to do when flipping a home, check out Tomo’s House Flipping Flops<\/a>. Or, want to get into the flipping market and not sure how, learn more with Tomo’s tips in House Flipping 101.<\/a> <\/p>\n\n\n\n

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Claire Rudy Foster<\/a><\/p>

Claire Foster writes about money, ethics, and where the two intersect. Their work has been featured in The Washington Post, The New York Times, The Guardian, and more. Foster lives in the Pacific Northwest.<\/p><\/div><\/div>\n\n\n

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