This is a 5 unit building consisting of one 2 bedroom unit, three 1 bedroom units, and a studio flat. It has approximately 3,368 rentable square feet. It is currently has an estimated total net income of $117,464/yr and estimated net operating income of $72,900/yr. The studio and the 2 bedroom unit are currently vacant and a third unit is to be delivered vacant. This multi-unit building is in Pacific Heights and near Alta Plaza Park. The current estimated Cap Rate is 4.55% with an estimated 13.2 GRM. The things I like about this building are it is located in Pacific Heights, the units get a lot of light, the building has a lot of period details, would make a great 1031 exchange opportunity, and 3 of the units are to be delivered vacant allowing a buyer a choice of units to move into and to get market rents on these units.
Sold 7/29/2011 for $1,575,000.
Sold 7/29/2011 for $1,575,000.
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