515 Ofarrell ST, San Francisco, CA 94102
- $7,000,000
- List Price
- $7,000,000
- Price Change
- ▼ $3,500,000 1785791826
- Status
- ACTIVE
- MLS#
- 41128295
- Year Built
- 1926
- Lot Size
- 4,534
- Acres
- 0.10
- Days on Market
- 144
- Property Type
- Multifamily
- Neighborhood
- Civic Center
Property Description
Significant Price Reduction! First time on the market in 49 years, this 46-unit mixed-use flagship trophy asset offers an outstanding investment opportunity in San Francisco's core corridor. Delivering an 8.37% actual in-place cap rate, the property is offered at approximately $152,174 per unit and $270 per square foot, well below estimated replacement cost. The 100% occupied asset consists of 45 studio apartments, one ground-floor commercial space, and seven garage spaces. The high-rise fire sprinkler upgrade is approximately 90% complete, with the balance to be completed prior to close of escrow. Additional value includes approximately $190,000 in annual rental upside, $46,947 in documented banked rent increases, Fannie Mae and Freddie Mac approved, no mandatory soft-story retrofit, located within a Federal New Markets Tax Credit (NMTC) Census Tract. Ideally situated near Union Square, Powell BART/MUNI, and major hotels. Offering Memorandum available upon request.
Additional Information
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- None
- Exterior Construction
- Concrete
- Attached Structure
- Detached
- Number Of Units Total
- 46
Listing courtesy of Listing Agent: Aida Molina-Polle (aida.polle@theagencyre.com) from Listing Office: The Agency.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.