Description
This two story six unit apartment building, ca 1958, consists of six one bedroom apartments, three per
floor, over two full garages. Five apartments are vacant, the sixth is rented to long term protected tenants for $761/month.
There have been no evictions and most of the apartments have been vacant for a number of years. The building has substantial deferred maintenance including an older roof that needs replacement. Some apartments have water damage and all have the original kitchens and baths, some in poor condition. Newer double paned vinyl windows have been installed as well as Hardie board exterior siding. Each apartment has a gas wall heater. A seismic retrofit permit has been issued but no work begun.
This building has excellent development potential including the possibility of the addition of Accessory Dwelling Units (ADU) in the large garages. After renovation, the five vacant existing apartments should all yield high rents.
Area
The Upper Market neighborhood is known for its good weather, central location, and close proximity to good shopping and restaurants. Whole Foods and Safeway are both one block west. Upper Market Street itself has seen tremendous high end development, both condos and apartments. There is excellent public transportation very close, including Muni light rail and buses. Tech buses stop nearby as well.
Map
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