9.84% Pro Forma Cap Rate [12-Unit Multifamily Mission District San Francisco]

Highlights:

• Beautiful historic Edwardian 12-unit apartment building in vibrant Mission District of San Francisco
• Prime location for renters - Nearby access to I-280 and 101 Freeways, close enough to Downtown without the notorious traffic congestion
• Top-notch Walking Score of 99. The BART station is just a 6-minute walk from the property
• 1.1M+ spent on renovation in the last several years
• Potential 41%+ upside in market rent increases, yielding a pro-forma cap rate of 9.84%
• High-growth neighborhood - One of the fastest-rising areas in San Francisco, featuring some of the hottest restaurants and galleries in the city

Description:

Touchstone Commercial Partners is pleased to present a 12-unit building in Edwardian architecture in the Mission District, one of the fastest-rising areas in San Francisco. This is a prime location for renters. The property is centrally located with nearby access to I-280 and 101 Freeways, close enough to downtown San Francisco, and has a top-notch Walking Score of 99. The BART station is just a 6-minute walk from the property.

The building is meticulously renovated with over $1.1 Million spent on renovation over the last several years, including 3 added 2 BR / 1 BA units. The units and foyer have beautiful stained glass windows. Investors will also enjoy the potential 50%+ upside in market rent increases, yielding a pro-forma cap rate of 9.84%.

The property is near the Epicenter of Cultural Delights featuring some of the hottest restaurants and galleries in the city. This high-growth neighborhood has a population of 73,103 within 1 mile, 525,740+ within 3 miles. This is an enduring asset with extraordinary demand in a reasonably priced rental neighborhood.

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