Buyer Representation

Buyer Representation

Dual-Exempt Richmond Duplex Transformation

San Francisco, CA

8

Beds

6

Baths

4,553

sq.ft

Overview

I bought this building myself. A rare dual-exempt 2-unit condo in San Francisco's Richmond District—my neighborhood. The structure meant low rent-control risk, and the condition meant upside. I served as owner-builder for the full renovation: exterior envelope, waterproofing, windows, full interior upgrades on both units. No general contractor. I pulled the permits, managed the subs, and lived on-site for two years. The result: rental income from the second unit covers 120% of ownership costs, and the building's value increased roughly 60% post-renovation. This wasn't a client project—it was my own capital, my own risk, and my own execution. It's the reason I can advise clients on renovation scope, budgets, and timelines with firsthand credibility. If you're weighing a renovation, a hold-vs-sell decision, or trying to understand what a property could become—I've done the work. Literally.

Value Delivered

Sourced a dual-exempt asset with low rent-control risk in a competitive market

Served as owner-builder—no GC—managing all construction, permits, and subs directly

Executed full interior and exterior renovation across both units

Achieved rental income covering 120% of total ownership costs

Realized ~60% value uplift, positioning for long-term hold or phased exit

Deal Highlights

Off-Market Deal

Off-Market Deal

1031 Buyer/Seller

1031 Buyer/Seller

Rental / Income Property

Rental / Income Property

TIC or Condo Structure

TIC or Condo Structure

Value-Add or Renovation Play

Value-Add or Renovation Play

Repeat Client

Repeat Client

Dual Agency

Dual Agency

Financing Was a Key Factor

Financing Was a Key Factor

Location

Purchase Price

$

2,405,000

Want to understand how this approach applies to your property? Let's talk.

Angus MacDonald

Contact

Your Property. Your Strategy. Let’s Get It Right.

Whether you're buying, selling, or navigating something more complex, I'll define the smartest path forward with you.