815 Ofarrell Street, San Francisco, CA 94109

Property Description

815 O'Farrell Street is a 44 unit mixed-use building. This prominent asset sits at the corner of O'Farrell and Larkin at the edge of San Francisco's Tenderloin neighborhood near Van Ness Avenue and Nob Hill. The property consists of 42 apartments (40 studios, a 1bd and a 2bd), and two large retail spaces with bonus basement space. Through the front doors you enter into a spacious lobby with hardwood floors, high ceilings, and period details. Many of the apartments have been remodeled in the recent past. The residential units are almost fully occupied. The building is fully detached on three sides, providing ample natural light to all levels. The main electrical has been upgraded and indicates 600 amps of service. Heat is supplied through individual wall heaters, helping to keep operating expenses low. This is a unique opportunity for an investor to reposition the corner retail and contribute to the ongoing revitalization in San Francisco. As the City and rental market continue to improve, the new owner will capitalize upon this purchase at a low basis with immediate cash flow. Priced to sell at 6.9 GRM and 8.1% Cap Rate!