Question: My son-in-law took a high-tech job in San Francisco. He and my daughter work online, but my son-in-law must be in the office once a week. The home search is broad. They toured properties from Silicon Valley to Napa Valley.
Yesterday my daughter shared with me their interest in a triplex. However, a hoarder with 25 years of tenancy resides in the owner’s unit. They are strategizing to end the hoarder-tenant’s tenancy, and my ex-husband, her father, might consider moving into the owner’s unit.
I was a property manager. Tenant-property provider laws keep changing, and my daughter, son-in-law or their buyer’s agent must appreciate the complexities of these laws and rules.
I am providing down payment assistance. Despite its appeal, the triplex is significantly more expensive than I could imagine.
There must be less expensive triplexes without problematic tenant-provider legalities in the San Francisco Bay Area. Any suggestions?
Answer: One way to offset California housing costs is to become owner-occupants in a multiple-unit building. However, that also means they become California property providers.
Beginning April 1, 2024, California Senate Bill 567 (SB567) enforces that landlords meet enhanced requirements before they or a family member can take over an occupied, covered unit to justify eviction under cause provisions. For instance, your daughter’s father must move into that owner’s unit within 90 days. In addition, he must live in the unit for 12 months. Learn more about California SB567 here.
On top of that, The Fair Housing Act recognizes hoarding disorder as a disability, giving individuals with this condition protected status. Consequently, landlords cannot evict tenants solely due to their hoarding behaviors. Learn more in this article from The Journal of the American Academy of Psychiatry and the Law.
Your son-in-law can easily commute weekly from any of the nine San Francisco Bay Area counties. Property values differ across these regions. I have curated triplex statistics from the past 100 days for your reference.
San Francisco County:Median List Price $1,997,500Sale Price to Original List Price 94.7%
San Mateo County:Median List Price $1,899,000Sale Price to Original List Price 99.4%
Santa Clara County:Median List Price $1,893,975Sale Price to Original List Price 99.5%
Napa County:Median List Price $1,237,000Sale Price to Original List Price 97.2%
Alameda County:Median List Price $1,181,944Sale Price to Original List Price 98.9%
Marin County:Median List Price $1,150,000Sale Price to Original List Price 87.8%
Contra Costa County:Median List Price $900,000Sale Price to Original List Price 100.5%
Sonoma County:Median List Price $865,000Sale Price to Original List Price 97.9%
Solano County:Median List Price $695,000Sale Price to Original List Price 105.9%
The source of this information is the residential Pro.MLSlistings.com in Sunnyvale, California. It is an accurate sampling. Commercial real estate brokers will have a similar database. The information might vary, but the price ranges will not.
For Housing Market Data in your area, visit my webpage for trends here. Do you have questions about home selling or buying? Full-service Realtor Pat Kapowich is a Certified Trust and Probate Specialist, Certified Real Estate Brokerage Manager, and career-long consumer protection advocate.
Realtor Pat Kapowich, Kapowich Real Estate is based in his hometown of Sunnyvale, California. Office: 408-245-7700; Broker# 00979413 Pat@SiliconValleyBroker.com