1409-1419 Golden Gate Avenue

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Address: 1409 Golden Gate Ave, San Francisco, California, US
Created date: December 1, 2023
Date last updated: December 1, 2023

Property Description

1409 Golden Gate is a beautiful Queen Anne Victorian property consisting of six large flats and a studio unit. Constructed in 1892, the property anchors what is known as the Seattle Block. The main residences are grand flats with massive scale. The property has two parcel numbers and is technically two buildings with a party-wall that have always operated as one building. These units lay out as 4 and 5 bedroom units in their current configuration. They have hardwood floors, built-ins, French doors, ornate moldings and medallions, decorative fireplaces, and 15’ ceiling height. The upper units have nice views towards downtown. Two of these flats will be delivered vacant and in need of remodeling. The size of these flats will allow a new owner to increase the bedroom and bathroom count if they wish to do so. Additionally, there is a huge attic space that may offer development potential. The lower studio unit is unwarranted and occupied by a long-term tenant. There is unoccupied space below both lower units that may offer future expansion potential. The property is located just a few blocks from Alamo Square and also provides tenants with convenient access to the Divisadero corridor, Lower Haight, and Hayes Valley, making it a very attractive rental location.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Price: $2,750,000
No. of Units: 6
Cap Rate: 8.8%
GRM /GIM: 8.1
Year Built: 1892
Opportunity Zone: No
Price per unit: $458,333
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Address: 1409 Golden Gate Ave, San Francisco, California, US

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