1884-1886 Market Street, San Francisco, CA 94102

Property Description

1884-1886 Market Street is a six unit mixed-use building at Market and Hermann Streets, four residential apartments over two commercial suites. Priced at approximately $433,000 per unit and a 6.06% Cap Rate on current scheduled income. Three of the four apartments carry banked San Francisco Rent Board increases that lift the Cap Rate to 6.30% with no turnover required. The apartments are identical two bedroom, one bath plans of approximately 876 square feet, remodeled and held month to month, with in place rents averaging approximately $3,150 against market rents of $4,500. At market rents the Cap Rate reaches 8.73%. Both commercial suites, approximately 3,151 square feet, are vacant and outside San Francisco residential rent control. The building is not in the Mandatory Soft Story Retrofit Program. Two blocks from the Church Street Muni Metro station.