3256 16th Street 3, San Francisco, CA 94103, San Francisco, 94103 - 1 bed, 1 bath
3256 16th Street 3
San Francisco, CA 94103
Property Price
SUMMARY
Analysis of 3256 16th Street 3, San Francisco, CA 94103 is currently available with a list price of $329,035. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the San Francisco Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
Despite being built in 1983, this unit appears to have undergone a comprehensive and recent renovation. The kitchen features new stainless steel appliances, modern dark shaker cabinets, marble-look countertops, and a stylish farmhouse sink. The bathroom boasts a contemporary vanity and striking dark herringbone tile in the shower. Hardwood floors and recessed lighting are present throughout, contributing to a fresh, move-in ready aesthetic with high-quality finishes that meet current standards.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Affordability
The property is a Below Market Rate (BMR) opportunity, offering a significantly reduced list price of $329,035 compared to typical San Francisco market values, making homeownership accessible.
- Prime Location
Situated in the highly desirable Mission Dolores neighborhood, offering excellent proximity to Dolores Park, Valencia Street's vibrant shopping and dining scene, and convenient access to Market Street and BART.
- Dedicated Parking
Includes one dedicated parking space, a valuable and sought-after amenity in a dense urban environment like San Francisco.
CONSRISKS & DEFICIENCIES
- Significant Financing Hurdles
The condo project is explicitly 'NOT Fannie Mae approved,' which will severely limit conventional financing options and may require specialized lenders or cash buyers, complicating the purchase process.
- Restrictive BMR Program Requirements
As a BMR unit, it is subject to strict income limits, application processes, and resale controls by MOHCD, which significantly restrict buyer eligibility and future property flexibility.
- High Monthly Association Fee
The association fee of $716 per month is substantial for a 1-bedroom unit, adding a significant ongoing cost to homeownership.
About 3256 16th Street 3
Dolores Park 1-bedroom, 1 bath, 1 parking Below Market Rate (BMR) housing opportunity available at 120% Area Median Income (AMI). Maximum income for 1 person = $130,900: 2 people = $149,650; 3 = $168,300; 4 =$187,000, etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) &; subject to resale controls, monitoring & other restrictions. Unit will be listed on DAHLIA, the SF Housing Portal (https://housing.sfgov.org) starting on the application date, Tuesday, October 14th. Visit https://housing.sfgov.org for application & program info. Application, loan pre-approval, and homebuyer education verification due on Thursday, November 6th at 5:00 PM. OPEN HOUSE DATES/TIMES. Thursday, October 16th @ noon - 2pm - Sunday, October 19th @ noon-2pm - Tuesday, October, 28th 5pm-7pm. Fair Housing Opportunity. Prime Mission Dolores location near Dolores Park, Valencia Street shopping and restaurants, Market Street and BART. **SPECIAL NOTES** This condo project is NOT Fannie Mae approved. Please contact the listing agent, Charles Loiacono, for more information. Applicants applying for this BMR unit are eligible for one or more of the following one-time waivers*: Qualifying AMI of 140%, as shown on the listing reflects the one-time 20% increase. Do not need to be a first-time homebuyer. Can have income from assets excluded from total household income. Can purchase a two-bedroom home as a single person. Can complete the homebuyer education after applying. Can make a down payment more than 50% of the sales price. *Temporary adjustments to the eligibility requirements will expire on 06/30/2026 unless further extended by MOHCD. For details on the temporary adjustments, go to DAHLIA website and view program announcement.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1983
- Lot Size
- 3,635 Sq. Ft.
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $716 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 1.0 | 50% |
| Baths | 1.0 | 2.0 | 37% |
| Square foot | 753 | 963 | 36% |
| Lot Size | 3,635 | 7,776 | 29% |
| Price | $329.0K | $849.1K | 5% |
| Price per sq ft | $437 | $818 | 10% |
| Built year | 1983 | 2002 | 22% |
| HOA | $716 | $742 | 47% |
| Days on market | 144 | 218 | 15% |
Pricing History
Listed for Sale
Oct 14, 2025
$329,035
Initial Listing
Sold
Jan 21, 2015
$210,000
Public Record
Sold
May 16, 1997
$119,000
Public Record