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855 Folsom Street 316, San Francisco, CA 94107, San Francisco, 94107 - 1 bed, 1 bath

855 Folsom Street 316, San Francisco, CA 94107 home-pic-0
ACTIVE UNDER CONTRACT$398,988
855 Folsom Street 316, San Francisco, CA 94107
1Bed
1Bath
642Sqft
55,687.102Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Affordability: The property is a Below Market Rate (BMR) unit listed at $398,988, offering a rare and highly accessible homeownership opportunity in San Francisco.
Top Cons:
Strict Resale Controls & Restrictions: As a BMR unit, it is subject to significant resale controls, monitoring, and other restrictions by MOHCD, which can limit future appreciation and owner flexibility.

Compared to the nearby listings

Price:$399.0K vs avg $815.0K ($-416,012)14%
Size:642 sqft vs avg 989 sqft22%
Price/sqft:$621 vs avg $83425%

More Insights

Built in 2001 (24 years old).
Condition: Built in 2001, this loft is well-maintained and move-in ready with good hardwood flooring throughout. However, the bathroom, while clean and functional, features fixtures (vessel sink, fluorescent lighting) and dark mosaic tiling that are consistent with its original build era and show signs of being outdated by current standards. The property would benefit from minor cosmetic updates to the bathroom and likely the kitchen (not pictured) to achieve a more contemporary aesthetic.
Year Built
2001
Close
-
List price
$399K
Original List price
-
Price/Sqft
$621
HOA
$655
Days on market
-
Sold On
-
MLS number
423922977
Home ConditionFair
Features
Deck
View-

About this home

1 bedroom loft own instead of renting! Down payment assistance available, 1 block from Whole Foods close to Trader Joes and Target First Come First Serve no lottery! Waivers that may apply to this unit: Remove first-time homebuyer requirement, Exclude income from assets in the calculation, Lowering minimum financing requirements, Adjust household size rules, Allow homebuyer education completion after the initial application. Below Market Rate (BMR) housing opportunity available at 120% Area Median Income (AMI). Maximum income for 1 person = $130,900; 2 = $149,650; 3 = $168,300, etc. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. Unit is listed on DAHLIA SF Housing Portal (https://housing.sfgov.org). Visit https://housing.sfgov.org for application & program info. Fair Housing Opportunity.

Price History

Date
Event
Price
01/27/17
Sold
$382,500
06/08/12
Sold
$350,000
12/15/05
Sold
$313,500
09/05/03
Sold
$264,500
Condition Rating
Fair
Built in 2001, this loft is well-maintained and move-in ready with good hardwood flooring throughout. However, the bathroom, while clean and functional, features fixtures (vessel sink, fluorescent lighting) and dark mosaic tiling that are consistent with its original build era and show signs of being outdated by current standards. The property would benefit from minor cosmetic updates to the bathroom and likely the kitchen (not pictured) to achieve a more contemporary aesthetic.
Pros & Cons

Pros

Exceptional Affordability: The property is a Below Market Rate (BMR) unit listed at $398,988, offering a rare and highly accessible homeownership opportunity in San Francisco.
Comprehensive Financial Support: Availability of down payment assistance and various waivers (e.g., removing first-time homebuyer requirement, flexible income/asset calculation, lower financing minimums) significantly broadens buyer eligibility.
Prime Retail Proximity: Located just one block from Whole Foods and close to Trader Joe's and Target, providing excellent convenience for daily groceries and shopping needs.
Modern Loft Design: A 2001-built 1-bedroom loft offers a contemporary and desirable urban living experience, appealing to those seeking an open-concept style.
Simplified Application Process: The 'First Come First Serve no lottery!' approach streamlines the application process for BMR units, offering a more direct path to ownership for eligible buyers.

Cons

Strict Resale Controls & Restrictions: As a BMR unit, it is subject to significant resale controls, monitoring, and other restrictions by MOHCD, which can limit future appreciation and owner flexibility.
High Association Fees: The $655 monthly association fee is substantial for a 642 sqft unit, adding a considerable ongoing cost to ownership.
Limited Availability: The property is currently 'Active Under Contract,' meaning it is not immediately available for new offers, which can be a deterrent for interested buyers.

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