359 S Van Ness Ave, San Francisco, CA 94103

Property Description

359 South Van Ness is a six (6) unit apartment building located in the heart of the Inner Mission. Built in 1907, the property consists of six (6) spacious 2-bedroom, 1-bath units with garage parking for two small cars or motorcycles. The large units average over 1,000 sq/ft each. Four of the six units have been tastefully updated with remodeled kitchens and bathrooms. All six units have in-unit laundry. The property is fully occupied with monthly rents ranging from $1,082 to $4,550. The current monthly gross income is approximately $19,605, with 45% rental upside. The property is offered at an 11.69 GRM and 5.77% cap rate. The handsome Edwardian facade has bay windows and period architectural details. The soft story retrofit and fire alarms have been completed. There are two vacant storage areas behind the garage that face the rear yard which have development potential. The location is steps away from the restaurants, shops, and nightlife of the Mission District. The property is conveniently located near Valencia Street, Mission Street, and the 16th St. BART station, providing easy access to downtown San Francisco and the surrounding neighborhoods.