515 Ofarrell St, San Francisco, CA 94102
- $7,000,000
- 25,896
- SqFt
- List Price
- $7,000,000
- MLS#
- 41128295
- Property Type
- Multifamily
- Sqft. of Residence
- 25,896
- Lot Size
- 4,534
- Region
- SF District 8
- Status
- ACTIVE
- County
- San Francisco
- Acres
- 0.10
- Year Built
- 1926
- Parking Spaces
- 7
Property 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.
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Additional Information
- Basement
- Other
- Living Area
- 25,896
- Lot Size
- 4,534
- Possession
- Close Of Escrow
- Region
- SF District 8
- Subdivision
- Civic Center
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Listing courtesy of The Agency.
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