342 Spruce St - Apartments FOR SALE


San Francisco, CA 94118
$7,550,000 USD
415-727-1271
342 Spruce St, San Francisco, CA for Sale
$7,550,000 USD
Apartments - FOR SALE
1/10
null | 4.57% Cap Rate

342 Spruce St
San Francisco, CA 94118


HIGHLIGHTS

  • Presidio Heights Corner Trophy Apartment Building
  • Turnkey Investment, with Upside
  • Detached Courtyard Property with Abundant Light

OVERVIEW

Presidio Heights Trophy Apartment Building. Situated at the intersection of Spruce and Sacramento streets, this exquisite courtyard-style property captures the essence of the neighborhoods grandeur, location, and rich history. Its allure makes it an ideal choice for seasoned investors seeking a long-term hold, while its inherent charm offers an exciting opportunity for value-add operators looking to further elevate its already impressive appeal. Comprised of three floors, the building hosts nine spacious flats, each offering a generous layout. Most units have 3 bedrooms, formal dining and living rooms, large kitchens and pantries, as well as rear porches with washer and dryers. While several of the flats have undergone extensive renovations, most retain their Edwardian original charm. Constructed in 1909, the property's size is impressive at 12,705 square feet. Much of building systems were upgraded over the past decade: new roof, renovated stucco facade, rebuilt rear stairs and an extensive seismic upgrade. With only 200 amps of electrical, the building may require an electrical upgrade. Within close proximity lies the thriving shopping district of Sacramento Street, featuring an array of design shops, upscale boutiques, and renowned dining establishments. Merely a block away, you'll find Laurel Village Shopping Center, a bustling hub featuring the well known Cal-Mart and Bryans grocery stores, charming cafes, hardware shops, banks, and delightful restaurants and cafes. Cherished by the same family for three generation, this historic property offers a once-in-a-lifetime opportunity, attracting those in pursuit of a solid investment in San Francisco. Situated in a premier location, this stabilized asset is an alluring prospect for individuals seeking stability in their ventures. As a building steeped in rich history, it stands ready for a new chapter to be penned, and forward-thinking investors have the chance to leave their indelible mark on this extraordinary property. HIGHLIGHTS: • Presidio Heights Corner Trophy Apartment Building • Family owned for 3 Generations • Turnkey Investment, with Upside • 9 Spacious Flats • 4 Flats Delivered Vacant • Located in the Heart of Presidio Heights • Detached Courtyard Property with Abundant Light • Most Leased Flats at Market Rents • Units have Formal Living & Dining Rooms • Sacramento Streets Shops, Cafes, Restaurants Nearby • 3 Flats Renovated to Condo Quality • Large Vacant Storage Units (unsprinkled) • 1 Car Parking Garage • Completed Soft Story Upgrade • Low Expenses & Bank Rents • Presidio National Park Blocks Away

FOR SALE DETAILS

PRICE

$7,550,000 USD

PRICE/SF

$594 USD /SF

# OF UNITS

9

PRICE/UNIT

$838,889

CAP RATE

4.57%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1909

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,793 SF

ZONING

NCD

APN/PARCEL ID

1011-016

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.