423 South Van Ness Avenue

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Address: 423 S Van Ness Ave, San Francisco, CA 94103, USA
California & West + Apartment Buildings
Created date: June 11, 2026
Date last updated: September 14, 2026
Price: $3,725,000Investment Analyzer NEW!
  • Six-unit mixed-use Victorian, 9,280 SF, three 3BR flats over three commercial suites
  • One block to 16th St BART, immediate 101 and Central Freeway access
  • Commercial anchor locked through March 2036, $1.1M contracted rent remaining
  • Residential rents 51% below market on leases dating to 1996 and 2003
  • 6.01% going-in cap expanding to 9.70% pro forma
  • $401/SF, below replacement cost in central San Francisco

Property Description

423 South Van Ness Avenue is a six-unit, mixed-use Victorian offered at a 6.02% cap rate. Three exceptionally large three-bedroom residential flats, averaging roughly 1,746 square feet each, sit above three generously sized ground-floor commercial suites averaging about 1,710 square feet, pairing durable, contractually locked commercial income with meaningful residential upside in one of the city's most central, dynamic locations. The property sits at the crossroads of San Francisco, where the Mission, SoMa, and Civic Center submarkets converge along the South Van Ness / Mission / Folsom corridor. Tenants are blocks from 16th Street Mission BART and steps from Highway 101, with Dolores Park, the Valencia retail and dining corridor, Whole Foods, Safeway, and a dense cluster of acclaimed coffee and restaurants all within walking distance. The building also anchors a premier innovation district, surrounded by the offices of leading AI research labs, including OpenAI and Anthropic, plus Salesforce and Google all sustaining the high-wage employment that drives demand across San Francisco.
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Broker Details

Cris Lamas
Cris Lamas

Urban Capital 415-577-8671

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $3,725,000
No. of Units: 6
Opportunity Zone: No
Price per unit: $620,833
Property Website Click Here
Address: 423 South Van Ness Avenue, San Francisco, CA 94103, USA
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