Description
INVESTMENT HIGHLIGHTS
- Major Seismic Retrofit and Rebuild of the Commercial Space
- All Residential Units and Common Areas Recently Renovated
- Rare Opportunity To Purchase a Property With an Longstanding Anchor Tenant
- 100% Occupied
- Upside in Rental Rates Due To Improved Market
- Centrally Located in South of Market, Surrounded by High Density Residential Development
EXECUTIVE SUMMARY
Touchstone Commercial Partners, Inc. is pleased to offer investors the opportunity to purchase the fee simple interest in 201 9th Street. The subject property is located on the southeast corner of 9th Street and Howard Street in the South of Market. SOMA is one of San Francisco’s fastest growing high density residential neighborhoods intermixed with industrial and office buildings and a high density of startups and tech companies. This three story building consists of thirty-two (32) SRO units, and one (1) ground floor with lower level restaurant / bar lounge. The ground floor and basement is occupied by Asia SF, a longstanding restaurant, cabaret and nightclub concept. For over 24 years, Asia SF has celebrated diversity and multiculturalism in the South of Market neighborhood.
PROPERTY FACTS
| Price | $5,800,000 | Apartment Style | Low Rise |
| Price Per Unit | $181,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 5.76% | Building Size | 11,180 SF |
| Gross Rent Multiplier | 11.63 | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1907/2020 |
| Property Subtype | Apartment |
UNIT AMENITIES
- Cable Ready
- High Speed Internet Access
SITE AMENITIES
- Property Manager on Site
- Recycling
- Trash Pickup – Curbside
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+0 | 31 | – | 72 – 180 |
| 1+1 | 1 | – | 228 |
