Who is actively buying multi family in San Francisco what is.....

[Jason Monroe]

1731 Oakdale Ave in San Francisco 

It's a triplex 

https://www.redfin.com/CA/San-Francisco/1731-Oakda...

Brings in a tremendous 36960 in rents per year. That is big times 

I am not in contract or anything but some of you people near me do these deals and I don't understand the general approach to re-position these? 

Is the new thing to do an Ellis act eviction and empty the building, rehab the building significantly, and get a rent control exemption and then sell it or keep it for the long term? 

Doing sufficient upgrades to warrant the exemption is pretty big money is there some value sort of play that might not require such significant capital also how do you finance the upgrades if the ellis act is the approach? Would you start with a construction loan or start with a commercial or residential loan and then roll that into a construction loan once the permits are approved and the building is empty?

Thanks,

Jason

[Ariel Smith]

@Jason Monroe I'm not sure what your exact question is but I'm familiar with the property in question. Two of the tenants are protected, so it would take you at least a year for an ellis act eviction. You also would have to have the units removed from the rental market, so there isn't much upside here for any normal investor. Hence why it has sat on the market for 10 months with multiple price reductions.