1073 Bush St - Apartments FOR SALE


San Francisco, CA 94109- Lower Nob
$2,498,000 USD
415-608-8409
1073 Bush St, San Francisco, CA for Sale
$2,498,000 USD
Apartments - FOR SALE
1/34
null | 2.18% Cap Rate

1073 Bush St
San Francisco, CA 94109
Lower Nob


HIGHLIGHTS

  • Strong Current Cash Flow: The property generated $118,785 in net income (2024) with stable occupancy, offering a foundation for immediate cash flow.
  • Below-Market Rents: Units lease are well below comparable market rates, creating upside through rent adjustments.
  • Vacancy Upside: One vacant unit (9.1% vacancy vs. 5.5% submarket average) presents a quick opportunity to boost income.
  • Lease Renewal Potential: Multiple tenants pay below-market rates under outdated agreements, allowing rent resets to align with current market rents.
  • Controlled Expenses: 2024 operating costs included one-time upgrades like a $4,200 intercom installation, minimizing future capital needs.
  • Utilities Included: Owner covers utilities for most units, streamlining management and enabling rent increases to reflect full market value.

OVERVIEW

1073 Bush Street offers a unique investment opportunity in San Francisco’s desirable Lower Nob Hill neighborhood. This historic 11-unit apartment building, built in 1911, combines classic charm with modern convenience, featuring a mix of studio, one-bedroom, and two-bedroom units. Located steps from Muni/BART transit, UCSF Health Saint Francis Hospital, and the Fillmore Street dining and shopping district, the property boasts a Walk Score of 98, attracting professionals and tech workers. Its prime location near Chinatown, Union Square, and Van Ness Avenue ensures steady tenant demand in a high-demand urban area with limited new construction. The property generated $118,785 in net income in 2024, with clear growth potential. Current rents range from $1,490 to $2.135 per month - below market rates (comparable units lease up to $4,394) —while one vacant unit (9.1% vacancy vs. 5.5% submarket average) offers immediate income upside. Outdated leases allow for rent adjustments, and recent upgrades like the $4,200 intercom system will reduce future costs. With Downtown San Francisco’s vacancy at 5.5% and near-zero new supply, this asset promises strong cash flow and appreciation through rent increases and operational improvements.

FOR SALE DETAILS

PRICE

$2,498,000 USD

PRICE/SF

$430 USD /SF

# OF UNITS

11

PRICE/UNIT

$227,091

CAP RATE

2.18%

% LEASED

82%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1911

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

RC-4

APN/PARCEL ID

0281-014

ASK ABOUT THIS PROPERTY

Carlos Serrano-QuanSequoia Commercial GroupMore Info
415-608-8409

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Carlos Serrano-QuanSequoia Commercial GroupMore Info
415-608-8409

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.