1538-1544 Polk St
- Significant (214%) Potential Upside
- 43 Units in Total - 40 Hotel Units and 3 Retail Units. Hotel Units Master Leased to “Shirley Hotels”, 9 of Which are Licensed Tourist Units
- Highly Trafficked Commercial Corridor
Property Description
1538-1544 Polk Street is a mixed-use (hotel + retail) property in the Nob Hill/Polk Gulch neighborhood of San Francisco. The three-story property features three (3) retail units on the ground floor and a 40-unit SRO/hotel above that is master leased to an operator, "Shirley Hotels''. Of the 40 rooms, 21 are SRO units, 7 are SRO with partial baths, 9 are tourist/transient and 3 are for manager use. The SRO units without bathrooms share 3 common area bathrooms. Two of three retail units are occupied by a tuxedo retailer and a foot massage service. The 40-room hotel is currently month-month. A savvy investor may renegotiate the lease or operate the hotel to significantly increase cash flow. The property is in a central location of the Polk Street commercial corridor in Nob Hill. The street is famous for its historic architecture, Michelin-rated cuisine, and abundant retail amenities. It is an exceptional location for this type of property due to its walkability and easy access to public transit. The investment appeal of this property is its location in San Francisco's most desirable neighborhood and its significant upside potential (214%).
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,500,000 |
| No. of Units: | 43 |
| Average Occupancy: | 6.08 |
| Year Built: | 1907 |
| Lot Size: | 0.11 Acres |
| Opportunity Zone: | No |
| Price per unit: | $104,651 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
1520 Leavenworth Street
San Francisco, California
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout