2886-2888 16th St - Apartments FOR SALE


San Francisco, CA 94103
$2,800,000 USD
415-614-4354
2886-2888 16th St, San Francisco, CA for Sale
$2,800,000 USD
Apartments - FOR SALE
1/17
null | 7.45% Cap Rate

2886-2888 16th St
San Francisco, CA 94103


HIGHLIGHTS

  • 13 of the 14 units are currently occupied
  • Potential for re-development

OVERVIEW

2886-2888 16th Street in San Francisco’s vibrant Mission neighborhood offers 14 total units. There are 12 studio units on the two upper floors, 1 ground floor live/work, 1-bedroom residential unit and a long-time restaurant tenant on the ground floor, ensuring stable rental income. The building itself has undergone significant upgrades over the past decade, enhancing its overall value and reducing future maintenance costs. The work includes: Soft Story retrofit project (CFC issued) with new steel beams, new concrete footings, a complete basement upgrade with a laundry area. Several of the residential units have been remodeled, with modern finishes and stainless steel appliances. There have been major remodels to units #6, #8, and the live/work space. In addition the building has new exterior paint and a rebuilt back deck and stairs. Unit #4 will be delivered vacant, presenting a valuable opportunity for a new owner to further enhance the building’s appeal and increase its rental income. The property benefits from its prime location, surrounded by a variety of amenities including shops, restaurants, easy access to highway, and public transportation, making it an attractive option for both tenants and investors. Additionally, the property next door, 2874 16th Street, is going through major renovations which will be a significant improvement for the block. The developer is adding 4 apartments in the basement for a total of 10 housing units—an increase of four units from its original construction.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$324 USD /SF

# OF UNITS

14

PRICE/UNIT

$200,000

CAP RATE

7.45%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

M1, San Francisco

APN/PARCEL ID

3552-015

ASK ABOUT THIS PROPERTY

Mark BonnCompass CommercialMore Info
415-614-4354

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Mark BonnCompass CommercialMore Info
415-614-4354

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