09705. INVESTMENT RISKS IN THE SAN FRANCISCO HOUSING MARKET. Using a combination macro/micro approach, this investigation explores investment potential in the SF apartment building market. The macro analysis provides background information on the pros and cons of real estate investment in general and profiled the San Francisco real estate market within the framework of the national housing market. The micro analysis consists of a comparative investment analysis of two apartment building in two distinct SF neighborhoods. 32 pages, 19 footnotes, 19 bibliographic sources.