With such a limited supply of condos in the city, new construction projects have been selling out in record time, especially new developments in the Dogpatch area of Potrero Hill, one of San Francisco’s up-and-coming neighborhoods.
The Dogpatch’s Millwheel South development sold particularly fast; all units entered contract in just under a month. Larger 3 bedroom units were the first to sell out, indicating higher demand for family-ready condominiums. Millwheel South’s follow up, Millwheel North, will feature 39 units and similar finishes and amenities. Real estate investors should see Millwheel South’s quick success as an indicator of the intense demand for housing in this area, a good recipe for a sound investment.
Prices in the Dogpatch are still relatively low (median home price of ~$650,000 compared to ~$750,000 in SOMA/South Beach) without a compromise on finishes and style that you see in downtown high-rises. With more options for parking and one of the sunniest microclimates the city has to offer, home buyers are seeing the Dogpatch as a worthwhile early investment. Combined with easily accessible transportation to San Francisco’s downtown via Municipal Railway lines and Third Street, the Central Waterfront/Dogpatch offers the convenience of city living with a quaint slice of San Francisco that you simply won’t find elsewhere in the city.
For more information about new development projects in the Dogpatch, contact neighborhood professional Hector Orozco at 650.255.3001 or firstname.lastname@example.org.
Photo credit: SFCityCondos.com
Climb Real Estate provides this information to the public and our clients and does not guarantee its accuracy. Climb Real Estate does not necessarily represent the seller nor the marketing company in any way. For buyer representation, contact Climb or learn how to buy new developments.