Mixed-Use Apartment and Retail
423 South Van Ness Avenue San Francisco, CA 94103
423 South Van Ness Avenue, San Francisco, CA, 94103
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For Sale
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Six-unit Victorian with three ground-floor retail suites and three residential flats near Mission BART and Highway 101.
Property Size10,367 SF
Price / SF$359.31
Days on Market41
Property Features for 423 South Van Ness Avenue
General Information
- Standard status
- Active
- Size
- 10,367 SF
- Property subtype
- Retail, Multifamily, Mixed Use
Listing agency
Urban Capital of San Francisco
Listed by
Cris Lamas · License #02034056
Source
Crexi
Added: Jun 12 Updated: Jul 10 at 1:59PM Checked: Jul 19 at 7:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Urban Capital of San Francisco
Investment Insights
Based on property information with market context.
423 South Van Ness Avenue is a six-unit, mixed-use Victorian featuring three large three-bedroom residential flats above three ground-floor commercial suites. The property combines long-term commercial income with on-site residential units in a single, vertically integrated building.
The building sits at the crossroads of the Mission, SoMa, and Civic Center submarkets along the South Van Ness/Mission/Folsom corridor. It is one block from 16th Street Mission BART and steps from Highway 101, with nearby retail and dining along the Valencia corridor. Whole Foods, Safeway, and a dense concentration of coffee shops and restaurants are within walking distance.
Commercial income is supported by three long-term tenants on an approximately six-year weighted-average term, with the principal anchor secured through March 2036. The remarks indicate about $1.1M of committed commercial rent remaining at in-place rates. Beneath that stability, the three residential flats are described as carrying meaningful upside, with in-place rents roughly 55% below market and a stated path to a pro forma cap rate above 10%.
The building sits at the crossroads of the Mission, SoMa, and Civic Center submarkets along the South Van Ness/Mission/Folsom corridor. It is one block from 16th Street Mission BART and steps from Highway 101, with nearby retail and dining along the Valencia corridor. Whole Foods, Safeway, and a dense concentration of coffee shops and restaurants are within walking distance.
Commercial income is supported by three long-term tenants on an approximately six-year weighted-average term, with the principal anchor secured through March 2036. The remarks indicate about $1.1M of committed commercial rent remaining at in-place rates. Beneath that stability, the three residential flats are described as carrying meaningful upside, with in-place rents roughly 55% below market and a stated path to a pro forma cap rate above 10%.
Key Highlights
- Six‑unit Victorian building with 3 ground‑floor commercial suites and 3 residential flats
- Residential component features three large 3‑bedroom flats above the retail units
- Leasing stability: three long‑term commercial tenants with roughly six‑year weighted‑average term
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $653.1k | $63.00 |
| − Vacancy | −$41.1k | −$3.97 |
| EGI | $612.0k | $59.03 |
| − OpEx | −$275.4k | −$26.56 |
| NOI | $336.6k | $32.47 |
10,367 SF · lease $63.00/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Uses
Best Use
Retail
$47.26M
$41.35M – $55.14M
NOI $3,308,384 @ 7.0% cap · market cap 88.82%
Second Best
Apartment 5plus
$4.81M
$4.21M – $5.61M
NOI $336,586 @ 7.0% cap · market cap 9.04%
Theoretical Best
Specialty Retail
$50.64M
$44.31M – $59.08M
NOI $3,544,698 @ 7.0% cap · market cap 95.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Six-unit Victorian with three ground-floor retail suites and three residential flats near Mission BART and Highway 101.
Where is this apartment building located?
The property is located at 423 South Van Ness Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $3,725,000.
What are key features of this property?
This property features: Six‑unit Victorian building with 3 ground‑floor commercial suites and 3 residential flats; Residential component features three large 3‑bedroom flats above the retail units; Leasing stability: three long‑term commercial tenants with roughly six‑year weighted‑average term
