Presidio Queen Anne on Funston
Don’t like the thought of living next to modern? Well, you’re in luck. Four five-bedroom “Queen Anne style homes” on “the oldest intact Victorian streetscape in the city” (56-59 Funston Avenue) are now up for lease in the Presidio.
Minimum rental bids of $10,600 per month (per home) and a remembrance of a tipster’s note that we first published over a year ago. In summary: bidding wars for big rentals in the Presidio. Again, over a year ago.
NEW NEIGHBORHOOD: 56, 57, 58 & 59 Funston Avenue [presidio.gov]
SocketSite Readers Report: The New Age Of Civilized Urban Landscape [SocketSite]
Premium Rents In The Presidio [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by gh

    Great to see these beautiful houses being rehabilitated and generating strong rents!

  2. Posted by anon

    $10,600 a month seems pretty freakin high to me to pay in rent. Assuming 20% down and taking into account the tax deductions, this monthly payment could buy a $3MM house.

  3. Posted by John

    So what do you think…..if they sell them at 3MM a piece, would that be a fair price?

  4. Posted by Anna

    Seems pretty outrageous to me – would this be considered “market rate??” Especially given it’s government property?

  5. Posted by bgelldawg

    And since this is federal property, it isn’t covered by any of San Francisco’s tenant protections, including rent control.

  6. Posted by zzzzzzz

    It’s all going to a good cause – the restoration and maintenance of the Presidio, which is required by law to be entirely self-sustaining by 2013. As I understand it, rents on the residential units constitute the Presidio Trust’s single largest source of income. I hope the Trust succeeds in renting these beautifully restored units at absolute top dollar.

  7. Posted by jp

    “the park is sitting on $105 million — a huge chunk of cash — yet has asked Congress for a $20 million loan.” This is according to the Bay Guardian.
    I have lived in the Presidio for five years, and watched it turn into Pacific heights South, with a touch of downtown Redwood City. The emphasis is on real estate development, not on preserving the park, or wildlife.
    John Stewart Company runs the leasing, and other assorted politicos are getting wealthy. Where is the good cause in this?
    Where does all of the money go? The trust is accountable to nobody. There is only one open meeting of the board held per year.
    A portfoilo of free real estate was turned over to the presidio trust. Becoming a park that needed no government $ should be easy to do.
    The buzz words of being “self-sufficient” appease the public.
    This is supposed to be a park, not an exclusive country club.

  8. Posted by anon

    John, maybe these homes are different than the others in The Presidio that I have seen. But the ones I have seen were in dire needs of being updated to 21st century standards. If this house was absolutely perfect I don’t think it would be worth $2MM, let alone $3MM.

  9. Posted by james

    all the houses in the presidio are being gutted and renovated to command these market rates for rent. i would love to live in one of them. you can get into one for much less than this monster. pilot row houses go for 4k per month. you can get on a waiting list to see them and apply by going to their website. imagine what we could really rent our places for here in town of not for the socialist rent control laws. wow!

  10. Posted by james checker

    james, one would assume that the “socialist rent control laws” would have had the effect of driving up rents on all non-rent controlled apartments – so the rent that you could receive would likely be less than what some market-rate rentals are going for now.
    And need I remind you – SF rent control allows a unit to return to market rate whenever a tenant leaves (and then rent control kicks in), so “imagining” what could be had is not hard at all – go look at craigslist to fulfill your wildest dreams.

  11. Posted by james

    so if we had no rent control, rents would come down. ;)

  12. Posted by james checker

    Median rents would likely come down, yes. Mean rents would not because of the long term tenants paying a pittance right now.

  13. Posted by SerialJingleMailer

    I think it’s actually “marginal rents” which would come down. The next available unit.

  14. Posted by james

    how many units are held off the market to avoid being rent controlled? i’ve read this debated in other places and it seems like quite a few.
    http://www.sftu.org/rentcontrol.html
    i was just reading up on the subject here and it made me curious to know how many units are truly affected, pre-1979 in the city.
    there’s a rally today about changing the law:
    http://www.sanfranciscosentinel.com/?p=6864

  15. Posted by lem

    if sf has rent control, and the presidio (being federal land) doesn’t, and the presidio has much higher rents, can’t we conclude that there is a chance that getting rid of rent control may allow rents to climber higher?

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