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Listed by Gino V Franco Marcus & Millichap
$3,400,000
Est. payment /mo
6 Beds
6,681 SqFt
Open House
Thu Aug 20, 9:30am - 11:00am
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,681 sqft
Price per Sqft $508
MLS Listing ID 426154283
Bedrooms 6
HOA Y/N No
Year Built 1924
Lot Size 3,641 Sqft
Acres 0.0836
Property Sub-Type Multi Family
Property Description
1874 Vallejo Street is a 6-unit multifamily asset located in San Francisco's highly desirable Pacific Heights / Marina submarket, offering investors the opportunity to acquire a fully occupied property with meaningful rental upside. Built in 1924, the 6,681 SF building sits on a 0.08-acre lot and is zoned RM-1 (Residential - Mixed, Low Density). Offered at $3,400,000, the property represents an attractive acquisition opportunity at $566,667 per unit and $509 per SF, with a 4.28% current cap rate and 14.54 GRM. The property features six one-bedroom units averaging approximately 1,114 SF per unit. Current operations generate $233,808 in annual gross rent and $231,174 in effective gross income, producing $145,602 in current NOI. With market rents estimated at approximately $4,400 per unit, the asset offers significant mark-to-market potential with pro forma NOI projected at $220,177 and a 6.48% pro forma cap rate. Ideally located near premier neighborhood amenities, retail, dining, parks, and transportation, 1874 Vallejo Street benefits from strong tenant demand and long-term ownership appeal. The combination of stabilized occupancy, below-market rents, and a desirable one-bedroom unit mix presents an attractive opportunity to acquire a well-positioned San Francisco multifamily asset with built-in value creation potential.
Location
State CA
County San Francisco
Area Sf District 7
Interior
Fireplace No
Exterior
Total Parking Spaces 3
Building
Lot Description None
New Construction No
Others
Tax ID 0553015
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