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Listed by Gino V Franco Marcus & Millichap
$3,050,000
Est. payment /mo
6 Beds
7,290 SqFt
Open Tue 12PM-2PM
1595 Noe ST San Francisco, CA 94131
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Open House
Tue Nov 03, 12:00pm - 2:00pm
Thu Nov 05, 10:00am - 12:00pm
Thu Nov 12, 10:00am - 12:00pm
Fri Oct 30, 10:00am - 11:00am
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,290 sqft
Price per Sqft $418
MLS Listing ID 426171686
Bedrooms 6
HOA Y/N No
Year Built 1928
Lot Size 3,044 Sqft
Acres 0.0699
Property Sub-Type Multi Family
Property Description
Situated on a prominent corner in the heart of Noe Valley, 1595 Noe Street presents an exceptional opportunity to acquire an 11-unit multifamily property in one of San Francisco's most desirable residential neighborhoods. Originally constructed in 1928, the building encompasses approximately 7,290 square feet and benefits from an attractive corner setting, a highly sought-after location, and substantial opportunities for future value creation. Offered at $3,050,000, or approximately $277,273 per unit, the property provides investors with an attractive combination of immediate cash flow and significant rental upside. The building currently generates $149,257 in annual net operating income, representing a 4.89% in-place capitalization rate. Existing residential rents total approximately $19,044 per month, compared to estimated market rents of $32,800, reflecting a 42% discount to market. This considerable loss-to-lease presents an opportunity for long-term income growth as units turn over and rents are brought closer to market levels, subject to applicable rental regulations. Beyond the rental upside, the property offers several additional avenues for value creation. A spacious four- to five-car garage will be delivered vacant, providing immediate flexibility for a new owner, while several existing unwarranted units present further potential for investors willing to explore their legal status and opportunities for improvement or legalization, subject to City approvals. Together, these features offer multiple paths to enhance the property's utility, income, and overall value. On a stabilized basis, the property is projected to generate approximately $301,371 in annual net operating income, representing a compelling 9.88% pro forma capitalization rate. With its strong corner location, substantial rental upside, vacant garage, and additional improvement potential, 1595 Noe Street offers a rare opportunity to acquire a well-located San Francisco apartment building with meaningful value yet to be realized.
Location
State CA
County San Francisco
Area Sf District 5
Interior
Fireplace No
Exterior
Garage Spaces 5.0
Total Parking Spaces 5
Building
Lot Description Corner Lot, Curb(s), Curbs/Gutters, Sidewalk
New Construction No
Others
Tax ID 6620026
NEARBY SCHOOL & BUSINESS
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