For it-never-gets-old views of the majestic Golden Gate Bridge out to eerily alluring Alcatraz Island and the surrounding city, Pacific Heights holds the rather undisputed title for San Francisco’s most desirable neighborhood.
Boundaries
The enclave perimeters—as defined by the Pacific Heights Residents Association—are inside Union to Bush streets and Presidio to Van Ness avenues.
Price range
Of course, with any in-demand locale, the price of entry is steep. "We’re seeing average prices now for a home at $1,500 per square foot, and if it has a view it can easily be $2,000 per square foot or more," says Nina Hatvany, a luxury property specialist at Pacific Union International and 25-year San Francisco real estate expert. "It’s very difficult to find a single family house in Pacific Heights proper for under $4 million," she says. Listings for high-end two-bedroom condominium units start at $2.5 million, according to Ms. Hatvany.
Meanwhile, inventory for single family homes hovering at that $4 million starting point is scarce, but more options become available for homes over $9 million. "If a house is really nicely redone, it would be snapped up immediately," says Ms. Hatvany. "What we have lingering on the market are homes that need a lot of work, but when you get to that size and price range that’s a big project—a year or two years for renovation."
Browse:Mansion Global's Pacific Heights Listings
Housing stock
Rising up on a ridge from the Marina District, the tidy streets of this leafy enclave are lined with period-perfect colorful Victorians, Queen Annes, Edwardians, and Arts and Crafts style single-family homes and handsome condominiums.
A five bedroom, six bathroom home available in Pacific Heights, San Francisco for $9 million
Pacific Union International Inc.What makes it unique
As for the overall Hollywood movie-set look, strict preservation laws and highly regulated building codes ensure that the historic homes will remain so for years to come. Single-family homes are in high demand, as there is very little space available for new construction.
"I can count the empty lots that have sold for single family homes in the last 20 years on one hand," Ms. Hatvany says. "There are condominium developments that have come up on the fringe streets of Pacific Heights, but brand new single-family homes are so rare."
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Luxe amenities in the neighborhood
With the luxury lodging comes high-end shopping and dining. Marc Jacobs, Alice + Olivia, and Ralph Lauren are just a few of the label-wagging boutiques along Fillmore, Union, and Chestnut streets. There’s no shortage of cafes and restaurants in this neighborhood—situated with close proximity to downtown San Francisco that’s just a quick ride across the bridge to Marin County. Families also have their pick of exclusive private schools, including Town School for Boys, Stuart Hall, Convent of the Sacred Heart and San Francisco University High School.
Who lives there now
Landing in Pacific Heights will find you in very good company. Residents read like a Who’s Who of C-level executives from technology companies, venture capitalists, and hedge funds.
Notable residents
Businessman and philanthropist Gordon Getty, CNET founder Halsey Minor, and author Danielle Steel.
Outlook
Jacqueline NeJaime, a Hill & Co. San Francisco realtor specializing in luxury properties, concurs that Pacific Heights is very stable, no matter what fluctuations may occur in other parts of the city. However, she notes, "The market is changing. We’re seeing a hiccup. There are some homes that are sitting on the market between $3 and $5 million." Ms. NeJaime reports that in recent months, single-family homes have remained on the market for 37 days and condos are on market for an average of 32 days.
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As hiccups go, this is a small one for this quintessential San Francisco neighborhood. Despite low inventory and high demand, wedging a Louboutin-clad toe in is possible. Ms. Hatvany points to The Pacific, a newly revamped dental building from Trumark Urban with a mix of townhomes and condominiums with valet parking, a gym, and a list of amenities. Ms. NeJaime cites the LuXe, a contemporary high-end condominium building that is appealing to younger tech professionals. These developments are all the buzz because, as Ms. Hatvany and Ms. NeJaime both agree, everyone wants to live here.