1350 California #307

Offers will be reviewed May 14th by 5:00 pm. Listed at $789,000.

The California Court is a modern-style building located in Nob Hill along the cable car line route. This unit has been remodeled with high-end upgrades in the kitchen, bathrooms, bedrooms, and living room and shows very nicely. Enjoy a working fireplace, private patio, deeded parking and a common area courtyard. Close to many novelties including Grace Cathederal, Fairmont Hotel, Nob Hill Cafe, Cala Foods, and Polk Street

666 Post St #602

Offers will be taken on this listing on May 14th, 2007. Listed at $490,000.

The Crown Terrace is a classic 1920's art-deco style building located in the restaurant/hotel district of San Francisco. This charming co-op unit has a nice corner location, northern views, fireplace, breakfast nook and spacious living room. On-sight building manager during business hours, common area roof deck with solarium and fabulous city views, social room, laundry & storage. Walk to financial district, theatre district, restaurants and nightlife

Meetup Group Update

Our first meetup group was a big success. We had about +/- 30 people in attendance. Our guests included investors, lenders, title escorw/ professionals, 1031 experts and real estate agents. I spoke for about 30 minutes about the ins and outs of purchasing commercial or investment property. If you would like a copy of my power point slide please contact me at the number listed below. Leonard Spotto then spoke for about 30 minutes on 1031 exchange strategies. Each participant had an opportunity to introduce themselves and talk about their investment goals. The group decided to meet every first Wednesday of the month. Everyone is welcome to attend, please call for more info....

New Listings Not Yet on MLS

Nob Hill- 2bd/2bth Condo $789,000- this listing will be on the MLS in one week, but I can show it early to my blog subscribers. For more information, call Oron Maher, Listing Agent 415-345-3173

"The California Court"

1350 California St #307. This is a very nicely remodeled 2 bed/ 2bth condo, approx 1161 sq ft. Open floor plan unit with all high-end finished located on California St (Between Hyde and Leavenworth). Comes with one-car deeded parking and storage. Low HOA dues. Walk to Polk St shopping and dining, Grace Cathederal, Nob Hill cafe and all the other amenities of this high-end neighborhood.

Downtown- 1 bedroom Co-op Unit in Hip Downtown Location- $490,000

Again, not on the MLS for another week. Still need to stage, photograph, etc... but I can show it or give you info on it early by subscribing here or calling 415-345-3173- Oron Maher, Listing Agent.

"The Crown Terrace" 666 Post St #602. Located in the restaurant/hotel district of San Francisco, this large (approx 800) sq ft. 1 bedroom unit is on the 6th floor of a famous art-deco building. This unit is a co-op which requires 10% downpayment and buyer interviews prior to purchase of property. Great northern view from living room and bedroom.

Nob Hill Development Opportunity- Back on Market (as of this morning)

Opportunity to develop units or single family in high-end neighborhood, 1.5 blocks from Fairmont Hotel. RM-3 zoning allows for 1 unit per 400 sq ft. of lot; +/- 1700 sq ft. gross per foot. Height limit 65 ft. Prospective upper units could have views from Angel Island to Transamerica Building. There is a 693 square ft. cottage in rear of property. Lot is 2221 sq ft. Can't go wrong with this location. Call regarding offers- no exceptions. 415-345-3173.

The San Francisco Bay Are Real Estate Investment Meetup Group

For all of you in the commercial property game, here is a really hot new networking group that will feature some big movers and shakers in the real estate game. Should be very infomative with new topics of interest every month.

To sign up to be a part of the monthly meetup group go to

www.meetupgroup.com

When: Wednesday, May 2, 2007, 6:30 PM 2007
Where:
Mechanics Institute Building57 Post Street 4th FloorSan Francisco , CA 94104

Info/Map
Description:
The SF Bay Area Real Estate Investment Group offers investors continuing education seminars and workshops taught by top real estate professionals in the Bay Area.
The May 2nd meeting will feature presentations by Leonard Spoto of Asset Exchange Company and Oron Maher of Pacific Union Investment Brokerage. The topics covered will be "Real Estate Investment and 1031 Exchange Strategies".
Future classes being offered include:
- Investment Property Financing - Tax Planning for Investors - Insuring your Investment - Inspections and Disclosures - Estate Planning for Real Estate Investors - Property Management - Financial Strategies - Appraisal Issues - Commercial and Multi Unit Properties - Out of State Opportunities - Go Zone Opportunities - Triple Net Properties - Commercial TIC?s - Introduction to Foreclosure Investing - Short Sales

To RSVP please call Oron at 415-345-3173

Printer-friendly summary

135 Wetmore St, San Francisco, CA $1,600,000 (Currently in escrow after about 10 days on the market). Great Nob Hill location on this one- great opportunity.
Opportunity to develop units or single family in high-end neighborhood, 1.5 blocks from Fairmont Hotel. RM-3 zoning allows for 1 unit per 400 sq ft. of lot; +/- 1700 sq ft. gross per foot. Height limit 65 ft. Prospective upper units could have views from Angel Island to Transamerica Building. There is a 693 square ft. cottage in rear of property. Can't go wrong with this location. Call regarding offers- no exceptions.


1637 16th Ave, San Francisco, CA $1,100,000 (currently in escrow, has had 5 offers over a period of time). Golden Gate Heights neighborhood.
Big Price Reduction. Charming traditional style home with breath-taking 180 degree ocean views, located on coveted block of Golden Gate Heights. This 3-level home is filled with natural light--perfect for entertaining! Recently upgraded hrdwood floors, 2 fireplaces, formal living and dining rooms, front and large backyard, Separate enterance to downstairs level. Major curb appeal on this detatched home! Separate laundry room and tons of storage space. Truly a wonderful opportunity!


1332 Scott St #C, San Francisco CA $635,000 Sold 4/20/07. This property was part of the Mayors Office of Housing Program. Was on the market for about 30 days and the City had a 45 day first right of refusal (hence longer escrow). Western Addition neighborhood.
Hip, two-level townhome with 3 beds/2 baths located in an enchanting gated community, and near Japan Town, public library, St. Mary's Cathedral, shopping and public transporation. This unit has an abundance of natural light! Main level has a formal living room, dining room, one bedroom/bath, kithchen and closet space. Upstairs is two bedrooms, large bathroom, large patio and in-unit laundry. One car parking. Truly one of the best values San Francisco has to offer!

Depreciation for Commercial and Residential Property

Depreciation - What you need to know... Of all the benefits of owning investment real estate, one of the least understood is the benefit of depreciation. Depreciation is a method for matching the costs of acquiring property over the properties estimated economic life. Some key things to remember:
Using the straight-line method, residential income properties, four units or less, are depreciated over 27.5 years. Commercial property, or 5 units or more, are depreciated over 39 years.
Land is not depreciable.
Depreciation is an "intangible expense" that reduces the taxable rental income produced by a property.
Selling a property will result in a 25% depreciation recapture tax.
The depreciation recapture tax can be deferred via a 1031 Exchange.
For more detailed information about depreciation and how it works, please click here.

All in the family... You can't choose your family, but you can choose if you want to pay taxes or not when dealing with your family. Some key things to keep in mind regarding intra-family real estate dealings:
Adding a family member (or anyone for that matter) to title may result in a gift tax. Don't ever add your son/daugther/mother/daugther/etc. to title without speaking with your tax advisor.
Renting a 1031 Exchange property to a family member is allowed; just make sure the family member is paying market rents.
Selling a 1031 Exchange property to a family member is allowed, provided the family member then owns the property for at least two years.
Buying replacement property from a family member is usually not allowed. There are some exceptions. Contact Asset Exchange Company as soon as possible if you are considering acquiring replacement property from a family member.

Asset Exchange Company
Asset Exchange Company leads the industry by offering:
$499 Exchange - With Asset Exchange Company there are never any hidden fees, layered costs or miscellaneous service charges.
Attorney Guarantee - Asset Exchange Company is the only firm in the industry that guarantees that all exchange documents are prepared and reviewed by a licensed attorney.
Funds Security - Exchange funds are deposited into FDIC insured trust accounts with leading financial institutions. Client exchange funds are never commingled with operating funds and Asset Exchange Company also carries substantial Errors and Omissions insurance and maintains a Fidelity Bond for added protection.