Property Detail

Description

54 apartments plus 2 ground-floor commercial storefronts in a six-story building, built in 1912: 44 studios and 10 one-bedroom/one-bath units in about 22,670 SF on a 5,025 SF lot. Mixed-use investment between Market and Mission in the heart of SoMa / Mid-Market, with all units and storefronts leased per the rent roll. Renovated in 2012 and 2024, with many units updated with hardwood floors, quartz counters and tile backsplashes. On-site laundry, a full basement with potential for storage income, a central boiler and building-wide video surveillance. Market residential rents run about 26% above in-place rents, a clear path to more income as units turn over. One block to Market Street and about 0.2 miles to Civic Center BART/Muni, close to City Hall, Union Square, Mid-Market employers and freeway access. 5.59% current cap; 6.45% pro forma cap at market rents.