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Six Unit Property in Prime Russian Hill - For Sale

$1,995,000

1230 Broadway, San Francisco, CA 94109

Active
Last Updated: 09/13/2024

6.9

Cap Rate

137,356.48

NOI

Details:
Cap Rate:    6.9%
NOI:    $137,356.48
Pro Forma Cap Rate :    8.9%
Building Size:    3,980 sqft
Lot Area:    2,478 sqft
Occupancy:    33%
Units:    6
GRM:    10.4
Year Built:    1924
Price Per Sqft:    $501
Price Per Unit:    $332,500
Zoning:    RH-3
:    2
Highlights:
  • Rare six unit property in Prime Russian Hill
  • All 1br/1ba units, four with conversion potential to 2br
  • Four vacant units provide lots of options
  • Spacious units with smart layout and lots of sunlight
  • Three car garage parking plus dedicated street parking, all delivered vacant
  • One set laundry, separately metered PG&E
  • Quiet location yet only a few blocks away from Polk and Hyde Retail Districts
Description:

Welcome to 1230 Broadway, an exceptional investment opportunity nestled in the vibrant Russian Hill neighborhood of San Francisco, CA. This six-unit apartment building presents a rare chance to own a piece of prime real estate with immense potential. Boasting a strategic location and a host of desirable features, this property is a gem waiting to be discovered.

With four out of six units currently vacant and awaiting renovation, investors have the opportunity to unleash their creativity and maximize the value of this property. Additionally, four of the units hold the potential for conversion from one-bedroom layouts to two bedroom residences, offering versatility and catering to a broader tenant demographic. The smart and efficient layouts of the units ensure comfortable living spaces, with spacious bedrooms that receive abundant natural sunlight, creating an inviting ambiance for tenants to enjoy.

Convenience and practicality are evident throughout the property, with three dedicated parking spaces provided onsite and the option to park additional vehicles conveniently on the street in front of the garages. Further enhancing the appeal are amenities such as a set of laundry machines and a storage room located on the ground floor. Overlooking a charming parklet across the street, residents are treated to picturesque views and a serene atmosphere. The building is separately metered for PG&E. It is not on the S.F. soft story list.

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