This holiday season, one San Francisco artist will score the lowest-priced home in The City.
The live/work loft condo unit at the Goodman 2 building at 1695 18th St. in Potrero Hill, the home of the Encore Theatre Co.’s The Thick House performance space, is available for $169,946, according to Pacific Union GMAC Realtor Linda Thompson.
Sale of the unit is regulated through the Mayor’s Office of Housing, and is only available to a working artist with a San Francisco business license annually earning less than $51,100, or $58,350 for a couple.
"I feel like I’m in that movie, ‘Pocketful of Miracles,’" Harrison said. "This building was one of the original [live/work] buildings developed and the affordability component is for artists. Though my focus is on luxury real estate … I just feel really great."
There are some hoops to jump through to score the home.
In addition to filling out qualifying materials with the Mayor’s Office of Housing (www.sfgov.org/site/moh), the artist must undergo a portfolio review conducted by ArtHouse (www.arthouseca.org), a partnership of California Lawyers for the Arts and the San Francisco Arts Commission.
All types of artists may apply to buy the unit; the previous owner was a filmmaker. The first person to receive approvals on the application materials and financing will win the home, Thompson said. There is no bidding up or down.
"The program still works and exists," she said. "And here’s what’s unusual — this is a very good-looking space."
The condo has a main area and a bedroom loft with hardwood floors. It has floor-to-ceiling windows, and the building’s hallways are available as gallery space. The kitchen sports "newer" appliances, Thompson said. As in the historic first Goodman building on Geary Street that hosted Janis Joplin and others, many artists live in Goodman 2, according to ArtHouse spokeswoman Maggie Smith.
Where: San Francisco
Asking price: $169,946 · Property tax: $2,209
Other costs: $226.44 monthly homeowner dues
The property: 1 bedroom (loft), 1 bath, 568 square feet
Description: Government-subsidy loft condo in 1996 Goodman 2 building for working artists with business licenses only, making less than $51,100 for a single or $58,350 for a couple.
Amenities: Company of other artists, hardwood floors in bedroom, industrial carpet over cement on main floor, gallery space in hallways, theater in building.
Contact: Linda Harrison, Pacific Union GMAC Real Estate, (415) 929-7100, www.TheHarrisonTeam.com
*Estimate based on 1.3% of asking price.