SRO’s are a unique property type. Mr. Dunlap has appraised nearly half of San Francisco’s 178 SRO’s with more than 75 appraisals in the past 3 years alone. The presence of Tourist licenses adds a wrinkle to the valuation of these buildings. These licenses can be bought, sold or transferred to other properties which adds to value. Many buyers will purchase a SRO which functions as weekly and monthly housing and transfer the licenses to hotels more suitable for daily guests. Appraisers who are not aware of these possibilities cannot possibly determine the right value for your SRO.
Trebia Valuation Group, LLC