1097%20Howard%20%23307.jpg
The founders of Bebo purchased 1097 Howard Street #308 for $2,450,000 back in 2007. In 2009, they sold it for $1,900,000 having already moved to a slightly larger pad.
As plugged-in people know, the 4,162 square foot Lighthouse Lofts unit #308 was created by combing three adjacent units and 1097 Howard Street #308 is also known as #307.
And as a reader notes, the two-bedroom loft #307 is now being offered for rent fully furnished with “flexible 1-2 month lease terms,” which are key, for $17,500 a month.
We’ll let you run the numbers, but don’t forget to include a vacancy factor if you do.
∙ Listing: 1097 Howard Street #307 (2/2.5) 4,200 sqft – $17,500/month [mcguire.com]
1097 Howard #308 Shines Some Apples To Apples Style Light [SocketSite]
The SocketSite Scoop On 37 Raycliff Terrace (A.K.A. 2799 Broadway) [SocketSite]
The Lighthouse Lofts Apple Of Our Eye Returns (1097 Howard #308) [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by john

    Thats less $ per square foot rental than the SF Archstone Apartments properties. What a great business!

  2. Posted by FormerAptBroker

    I don’t know how the kids today can afford to rent in the city. In the mid 90′s I had a friend with a cool loft on the 1400 block of Howard that was paying $800/month (and just about every 2 bedroom apartment in Cow Hollow and the Marina was under $1,000/month)…

  3. Posted by curmudgeon

    the cool kids are heading to Oakland. That is unless they work for Google, Facebook, etc.

  4. Posted by BillyBalls

    Vacancy factors of 10% work for average properties in a market. Even for San Francisco, $17,500 monthly is rare air.
    One to two month lease? 50% vacancy factor, if not more.

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