815 O’Farrell Street
Property Description
815 O'Farrell Street is a 44-unit mixed-use building. This prominent asset sits at the corner of O'Farrell and Larkin at the edge of San Francisco's Tenderloin neighborhood near Van Ness Avenue and Nob Hill. The property consists of 42 apartments (40 studios, a 1bd and a 2bd), and two large retail spaces with a large basement. Through the front doors, you enter into a spacious lobby with hardwood floors, high ceilings, and period details. Many of the apartments have been remodeled in the recent past. The building is fully detached on three sides, providing ample natural light to all levels of the building. The main electrical has been upgraded and indicates 600 amps of service. Heat is supplied through individual wall heaters, helping to keep operating expenses lower. This is a unique opportunity for an investor to reposition this corner retail and contribute to the ongoing revitalization in San Francisco. As the City and rental market continue to improve, the new owner will capitalize upon this purchase at a low basis with immediate cash flow.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $6,750,000 |
| No. of Units: | 44 |
| Cap Rate: | 8.1% |
| GRM /GIM: | 6.9 |
| Building Size: | 19,650 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $153,409 |
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
529 E Walnut Avenue, Unit 0
El Segundo, California
2210 VIA MARIPOSA E, Unit 0
Laguna Woods, 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