515 Ofarrell ST, San Francisco, CA 94102
List Price: $10.5M
Listing Status: Active
0Days on Market: 132
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1926
Lot Size: 4,534 sq ft
MLS Number: 41128295
About This Property
First time on the market in 49 years! Exceptional opportunity to acquire a 46-unit mixed-use asset (45 studio apartments, 1 ground-floor commercial unit) at a newly reduced price of $7,000,000. Offering an 8.37% in-place cap rate with approximately $585,748 NOI, plus significant upside through future rent growth. The property includes a new 10-year commercial lease (executed June 2026), 7 garage spaces, and over $500,000 in capital improvements, including a 2023 elastomeric roof coating and sprinkler system upgrades nearing completion. This 12-story reinforced concrete building is not subject to San Francisco's mandatory soft-story retrofit program. Ideally located near Union Square, Powell BART/MUNI, major hotels, shopping, and dining. Located in a federal New Markets Tax Credit (NMTC) Census Tract. Offering Memorandum available upon request.
Listing provided by: Aida Molina-Polle DRE #01423725 424-230-3700 aida.polle@theagencyre.com, The Agency
Source: CRMLS, MLS #: 41128295
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.