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 Outdated leases allow for rent adjustments, and recent upgrades like the $4,200 intercom system will reduce future costs.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.