515 Ofarrell St,San Francisco, CA 94102
San Francisco, CA 94102
Description
Significant Price Reduction! First time on the market in 49 years, this 46-unit mixed-use flagship trophy asset offers an outstanding investment opportunity in San Francisco's core corridor. Delivering an 8.37% actual in-place cap rate, the property is offered at approximately $152,174 per unit and $270 per square foot, well below estimated replacement cost. The 100% occupied asset consists of 45 studio apartments, one ground-floor commercial space, and seven garage spaces. The high-rise fire sprinkler upgrade is approximately 90% complete, with the balance to be completed prior to close of escrow. Additional value includes approximately $190,000 in annual rental upside, $46,947 in documented banked rent increases, Fannie Mae and Freddie Mac approved, no mandatory soft-story retrofit, located within a Federal New Markets Tax Credit (NMTC) Census Tract. Ideally situated near Union Square, Powell BART/MUNI, and major hotels. Offering Memorandum available upon request.
Details
| MLS # | 41128295 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1926 |
| Days On Site | 156 |
| Listing Provided By | The Agency | Aida Molina-Polle |
Features
| Units | 46 |
|---|---|
| Zoning | RC4 |
| Acreage | 0.10 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Construction Materials | Concrete |
|---|
Area Information
| State | CA |
|---|---|
| County | San Francisco |
| City | San Francisco |
| Zip Code | 94102 |
| Community Name | CIVIC CENTER |
| Listing VS Median (in CIVIC CENTER) | |
Price: $7,000,000 low | high Med: $0 On site: 156 low | high Med: | |
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Learn More About This Property
| State | CA |
|---|---|
| County | San Francisco |
| City | San Francisco |
| Zip Code | 94102 |
| Community Name | CIVIC CENTER |
| Listing VS Median (in CIVIC CENTER) | |
Price: $7,000,000 low | high Med: $0 On site: 156 low | high Med: | |
