1375 Sacramento Street
San Francisco, CA
- Offered at $ 3,298,000
Features:
- Exactingly maintained seven unit residential income property since current owners bought in 2013
- Six of seven units have been remodeled (some prior to current owners)
- New roof 2013
- New electrical service 2013
- New exterior paint on west and south sides 2013
- Soft story compliance seismic work completed 2015
- Lobby remodeled 2018
- New hot water heater 2019
- New heat pumps (yes AC!) in units 2, 3, and 4 in 2019
- Boiler removed and electric heat provided to units A, 1, 5 * 6 in 2019
- Replaced 10 windows, maintain all others – 2019
- New sewer lateral 2023
- Exterior staircase repaired 2023
- Initial NVEM 2 application filed to preserve rates (not completed) 2023
- Prestigious location near top of Nob Hill
- Detached on three sides with a “secret garden” style alley on the west side providing verdant outlooks and extra light for four units
- Rear units have panoramic views of the city to the south and west
- “Best” unit in the building – top floor rear with massive views – delivered vacant.
- All other units rented with gross rents of $232,068
- Building laundry and bike storage in lobby
- One car parking in garage
- Plans available for an ADU draw up at time of seismic retrofit (permit expired)
- Year built: 1922
- Square footage: 4,918/per graphic artist
- Lot Square Footage: 1,920
Views, Prestige and Potential
An exceptional investment opportunity that has been cared for well beyond the common standard. Units are renovated and systems are newer. It should be as close as a 101 year old building can get to turnkey ownership. Efforts have been made to make the units green/eliminate fossil fuel consumption including the installation of heat pumps in three units and NVEM 2 application in process for the new owners to take over. There is potential to add an 8th unit. Previously approved plans are available to the new buyers (permit now expired). Architectural features of the Edwardian style remain intact throughout the interior and on the exterior façade, which will attract tenants looking for San Francisco charm. Additional charm is provided by the alley garden that lines the west side of the building providing lush outlooks from the lobby and units as well as welcome relief from the City when coming and going. Financially the building is equally a great proposition with a current actual cap rate of 4.47% and GRM of 14.21. Tenant profiles are excellent with only one protected long-term tenant. The best unit in the building is currently vacant (rear top floor with views!), making this a great opportunity for an owner user to preserve a pied à terre or maximize income.
