1586 Folsom St - Apartments FOR SALE


San Francisco, CA 94103- Mission
$3,750,000 USD
415-727-1271
1586 Folsom St, San Francisco, CA for Sale
$3,750,000 USD
Apartments - FOR SALE
1/11
null | 5.12% Cap Rate

1586 Folsom St
San Francisco, CA 94103
Mission


HIGHLIGHTS

  • • Corner mixed-use property in SOMA
  • • Large bar & restaurant; 2 years remaining on lease
  • • 6 one-bedrooms & 4 studios [most residential units renovated]
  • • Seismic and fire alarm upgrade completed
  • • Significant frontage along 12th & Folsom Streets
  • • Banked rent increases available

OVERVIEW

For the first time in over half a century, this historic mixed-use property is available for sale. Located at the high-visibility corner of 12th and Folsom Streets in San Francisco’s resurgent South of Market neighborhood, this unique opportunity offers both commercial and residential components. The ground floor features a fully built-out bar and restaurant, boasting over 3,300 sq. ft. of space and 118 feet of frontage along both Folsom and 12th Streets. This high-exposure corner location includes expansive windows, prominent identity signage, two full bars, two dining rooms, a Type 2 hood, prep kitchen, office space, and large walk-in coolers. There are two years remaining on the current lease, with no renewal option. The tenant currently holds a Type 47 liquor license. (Please note: the bar and restaurant business is not included in the sale of the building.) The residential component consists of 10 apartment units, including six one-bedroom units and four studio units. Most units have been renovated with updated kitchens and bathrooms. Expenses are low, and there are banked rent increases available. The property has undergone a seismic retrofit and a fire alarm system upgrade.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$395 USD /SF

# OF UNITS

10

PRICE/UNIT

$375,000

CAP RATE

5.12%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Bar

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1916

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,397 SF

ZONING

SLR

APN/PARCEL ID

3516-018

ASK ABOUT THIS PROPERTY

Matthew C. SheridanMaven Commercial, Inc.More Info
415-727-1271

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Matthew C. SheridanMaven Commercial, Inc.More Info
415-727-1271

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