2886-2888 16Th St San Francisco, CA 94103
- Apartment buildings
- 8,640 SF
Current Use by Public Records
- Apartment buildings
Property Details for 2886-2888 16Th St
- Year built
- 1923
- Property size
- 8,640 SF
- Property type
- Apartment buildings
Description
This exceptional 14-unit apartment building, located in San Francisco's vibrant Mission District at 2886-2888 16th St, presents a compelling investment opportunity. The property boasts 8,640 square feet on a 3,520 square foot lot and is situated in a prime location within the 94103 zip code. Built in 1923 and extensively renovated in 2014, this three-story building features a mix of unit types, including twelve studios, one ground-floor commercial space, and one live/work style one-bedroom unit. The asking price is $2,800,000, translating to $200,000 per unit and a price per square foot of $324.07. The building's strong financial performance is reflected in its 7.45% cap rate and a current Net Operating Income (NOI) of $208,618, with a 93% occupancy rate. Significant upgrades completed in the last decade include a soft-story retrofit with new steel beams and concrete footings, a complete basement upgrade featuring a laundry area, and exterior improvements such as new paint, a rebuilt back deck, and stairs. Several residential units (#6, #8, and the live/work unit) have undergone modern renovations, incorporating contemporary finishes and stainless steel appliances. Unit #4 will be delivered vacant, offering a unique opportunity for value enhancement. The property is zoned M1, providing flexibility for future development. This stabilized investment property offers a blend of strong current income and potential for future appreciation.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Francisco
- County
- San Francisco
- State
- California
- Longitude
- -122.417
- Latitude
- 37.7655
