1884-1886 Market Street
- 6.06% cap rate once banked increases are captured.
- Both commercial units can be delivered leased at close of escrow.
- 6-unit mixed-use property at the crossroads of Market Street and Guerrero
- Unit Mix: (4) Four 2BR/1BA residences over (2) Two ground-floor commercial spaces
- Over 35% upside in rents, with banked Rent Board increases still available
- Uniform 750 SF residential floor plans, providing clear path to income growth upon turnover
- Additional income available through RUBS implementation and owner-owned on-site laundry
- Steps from the F-Line, with Church Street and Van Ness Metro stations within a half-mile
- Where the Duboce Triangle, Hayes Valley, Castro, and Mission Dolores rental submarkets converge
- Well-suited as an owner-user acquisition with SBA financing, or a long-term hold
- $433K/unit | $459/SF
- 11.59 GRM | 5.82% Cap Rate | 8.36% Proforma Cap Rate
Property Description
1884-1886 Market St is a six-unit mixed-use building in the Upper Market corridor. With banked rent increases available which brings the cap rate to 6.06 percent once the banked rent increases are applied. Four two bedroom apartments over two commercial spaces, built 1932, approximately 5,500 square feet on a 2,587 square foot lot with frontage on Market. The four residential units are identical 750 square foot two bedroom, one bath plans, all remodeled. Commercial runs approximately 2,500 square feet: 1,000 on the ground floor fronting Market and 1,500 on the lower level. The commercial space has a dedicated 200 amp service independent of the residential system, so food service, fitness, and wellness users can take occupancy without a service upgrade. Both vacant, lease-up underway, commercial rents set to today's market.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,600,000 |
| No. of Units: | 6 |
| Year Built: | 1932 |
| Lot Size: | 0.06 Acres |
| Opportunity Zone: | No |
| Price per unit: | $433,333 |
| Property Website | Click Here |
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