August 24, 2006

Premium Rents In The Presidio

1304-B Kobbe Avenue in the Presidio

From a “plugged in” tipster:

Remember when bidding wars were to buy a place? Now they're taking place over rentals in the Presidio.

Two or three years ago, the Presidio couldn't give these places away, with units sitting empty for months. But in the last few months, the park has been inundated by wealthy homeowners trying to cash out and move. And the park has not forgotten its "mandate" to make money. It is holding formal auctions for its more desirable properties, demanding among other things that prospective renters not only prove their financial wherewithal, but also propose such details as precise rent escalations. Rumor around here is that one place went for $3,000 over asking (yes that's over asking) and that someone offered to spend over $100k of their own change to renovate an officer's home.

Case in point, 1304-B Kobbe Avenue a “5-bedroom, 2.5-bath home…built in 1902 as officers’ housing” in Kobbe Terrace, and currently available for a “Minimum Monthly Rental Rate” of $10,800 (“stainless steel appliances” included). If you’re interested, the home will be open this Friday (8/25) from 2:00 to 4:00. (And don’t forget to include a “Rent escalation factor” in your proposal.)

$10800 / 5br - OPEN HOUSE TOMORROW [craigslist]
The Presidio: Kobbe Terrace []

First Published: August 24, 2006 12:00 AM

Comments from "Plugged In" Readers

The best is the bulleted point "Rehabilitated Kitchen" -- what does that mean?

Posted by: Anonymous at August 24, 2006 8:26 AM

i don't get it. this is not the first CL listing for a 10K/month rental i've seen recently.

some annoying broker person has been posting all these rentals ranging from 4-10k on CL lately. first of all, who is renting these places? 20 college kids? secondly, if you can (and are crazy enough to) afford 10k a month, are you really using craigslist to source your property listings?


i need to know what kind of jobs people in this city have that make them so much money--i have a great job AND dot-com money and i still can't afford to buy anything, and it looks like soon i won't be able to afford to rent anything either.


Posted by: crab cakes at August 24, 2006 10:35 AM

Actually is generally several professional folks and couples who share the homes, they are large and quite beautiful both inside and out. Also, quite a few people run thier consulting businesses out of the units.

Posted by: Anonymous at October 2, 2006 2:12 PM

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