195 Lexington St San Francisco, CA 94110-1785

Property Details for 195 Lexington St

Year built

1915

Construction

WOOD

Lot size

0.06 lot acres

Property size

6,984 SF

Zone code

RH3

Property type

Apartment buildings

APN

3589 -053

APU

3589053

Description

This exceptional 9-unit apartment building, located at 195 Lexington Street in San Francisco's vibrant Mission District, presents a compelling investment opportunity. The property boasts 6,984 square feet on a 2,550 square foot lot, offering a strong 6.32% cap rate and a Net Operating Income (NOI) of $178,501. Built in 1915, this three-story building features a desirable RTO-Mission zoning designation. The asking price is $2,825,000, translating to $313,889 per unit and $404 per square foot. The property includes two parking spaces and an expansive basement with several storage rooms. Two units are currently vacant, presenting an immediate opportunity to increase revenue. Most units have been renovated, and the building is well-maintained. Tenant responsibility for heat and hot water contributes to low operating expenses. The building's prime location, just two blocks from Dolores Park and near the Valencia Street corridor, provides easy access to a thriving mix of retail, dining, and nightlife options. The Mission District's eclectic blend of tech, art, and culture, along with its walkability and bike-friendliness, further enhances the property's appeal. The building's location benefits from the area's sunny microclimate and proximity to popular establishments like Foreign Cinema and Alamo Drafthouse. The property's Gross Rent Multiplier (GRM) is 10.55. This is a rare opportunity to acquire a well-positioned, income-producing asset in one of San Francisco's most sought-after neighborhoods. The APN is 3589-053.