2240 Pacific Ave, San Francisco, CA 94115

Property Description

Situated in the desirable Pacific Heights neighborhood, 2240 Pacific Avenue presents a well-located 12-unit multifamily investment opportunity in one of San Francisco's strongest residential corridors. Constructed in 1949, the approximately 12,138 square foot wood-frame building sits on a 5,304 square foot lot and features a consistent unit mix of twelve (12) one-bedroom, one-bathroom residences, complemented by ten (10) on-site parking spaces - a highly sought-after amenity in the submarket. The property showcases spacious floor plans filled with natural light, highlighted by hardwood flooring, crown molding, large windows, and classic San Francisco architectural character. Kitchens are equipped with granite countertops, wood cabinetry, and modern appliances, while bathrooms feature tile flooring and updated fixtures. Building systems include a concrete foundation, stucco faade with brick at the rear, elevator service, on-site laundry, secured entry, and a recently replaced modified bitumen roof completed in 2023. With significant in-place rents below market across the rent roll, the property offers a compelling value-add opportunity through continued rent growth and operational optimization. Its prime Pacific Heights location provides residents with immediate access to dining, retail, parks, and transit corridors, supporting long-term rental demand and investment stability.