2230 Steiner Street
Property Description
2230 Steiner Street is a 12-unit Edwardian in the heart of Pacific Heights. It is a half block from Alta Plaza Park and around the corner from Fillmore Street's dining, nightlife, and retail. The unit mix is 11 one-bedrooms and 1 studio, plus two individual garages. Apartments feature hardwood floors, high ceilings, period detail, and abundant natural light. They have been maintained nicely, but with modest upgrades that position the building for strong rent growth with minimal capital investment. The building is in excellent physical condition: soft-story retrofit and sleep alarm ordinances are complete, the roof was replaced in 2024, and 80 windows were replaced in 2011. The building has 200-amp electrical service with newer circuit breakers. Units are separately metered for gas and electricity, and electric heat is tenant-paid, keeping operating expenses low. This is a rare opportunity to acquire a generational asset in one of San Francisco's most desirable rental locations, with 35% upside to market rents.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Affordable Housing |
| Price: | $5,900,000 |
| No. of Units: | 12 |
| Cap Rate: | 4.3% |
| GRM /GIM: | 14.4 |
| Building Size: | 9,174 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $491,667 |
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout