510 Stockton Street is a well maintained mixed-use apartment building situated between Pine & Bush Streets in the Downtown neighborhood of San Francisco. At the heart of San Francisco, the downtown neighborhood incorporates a true city-life experience. The Financial District, Market Street, Chinatown and Union Square at its epicenter gives residents convenient access to shopping, restaurants, cocktail-slinging bars, art galleries and theater entertainment. This central location also affords plenty of transportation choices. The Bay Area Rapid Transit (BART) and San Francisco Muni, allows residents to get anywhere in the city and other parts of the Bay Area. It takes 30 minutes to reach SFO Airport by Uber or cab and 50 minutes by Bart. Using public transit, it takes 40 minutes to travel to Golden Gate Park, 28 minutes to reach Fisherman’s Wharf, and only 15 minutes to arrive at the Ferry Building and the Downtown Financial District.
The building is four stories of masonry/concrete construction (brick fascia) over a concrete foundation and serviced by an elevator. The unit mix in the building consists of 8-one bedroom units, 8-two bedroom units and 1-office space. The property has undergone some capital improvements in 2018 & recently in 2019, which include fresh paint to the interior common areas and first level exterior walls, installation of a new hot water tank for the boiler system, resealing of the existing roof with GE silicone, installation of a video surveillance system in the lobby and alley and renovations and upgrades to 3 units in the building. The building has been structurally upgraded and compliant with the San Francisco Mandatory Soft Story Retrofit Program.
510 Stockton Street represents a fantastic opportunity to acquire a well maintained asset in a convenient location with significant upside potential (75% upside in rents through unit renovation and turnover).