23
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$7,000,000
Est. payment /mo
4,534 Sqft Lot
Price Dropped by $3.5M
515 Ofarrell ST San Francisco, CA 94102
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Civic Center
MLS Listing ID 41128295
HOA Y/N No
Year Built 1926
Lot Size 4,534 Sqft
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.
Location
State CA
County San Francisco
Zoning RC4
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Total Parking Spaces 7
Others
Tax ID 0323 003
Listed by Aida Molina-Polle The Agency #01423725
NEARBY SCHOOL & BUSINESS
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