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Listed by Brad Lagomarsino Colliers International
$2,588,000
Est. payment /mo
10 Beds
4,765 SqFt
OPEN HOUSE
Tue Jul 08, 9:00am - 11:00am
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,765 sqft
Price per Sqft $543
MLS Listing ID 425055414
Bedrooms 10
HOA Y/N No
Year Built 1914
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Mixed Use
Property Description
449-451 9th Street is a mixed-use, 11-unit building centrally located in the heart of San Francisco's vibrant SOMA neighborhood. Constructed in 1914 and encompassing approximately 4,765 square feet, the property features a blend of ten (10) - 1 bedroom / 1 bath apartment units and one (1) ground-floor commercial space. Units are thoughtfully designed with wood flooring, modern kitchenettes featuring quartz countertops and gas stoves, updated bathrooms, and ample natural light. Each residential unit benefits from dedicated storage space and access to a recently renovated backyard. Situated on a 2,500-square-foot parcel zoned SCI, the building offers separately metered gas and electricity, a local hardwired fire system, and updated water heaters. The property is fully compliant with San Francisco's Fire Alarm Sleeping Room Ordinance and includes both front and rear fire escapes. While the property is not on the soft-story retrofit list, it presents an ideal candidate for long-term capital improvements. This asset represents a strong value-add investment opportunity with approximately 36% rental upside. Current rents are notably below market, and the building offers a 6.30% cap rate with a projected pro forma cap rate of 9.05% and an impressive 11.89% cash-on-cash return.
Location
State CA
County San Francisco
Area Sf District 9
Interior
Fireplace No
Appliance Free-Standing Gas Oven
Laundry Common Area
Building
Lot Description Sidewalk
Level or Stories Two
New Construction No
Others
Tax ID 3757049
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