Princess Apartments 149-161 Hyde St 44 Unit Apartment Building $10,260,000 CAD ($233,182 CAD/Unit) 7.41% Cap Rate San Francisco, CA 94102

155 Hyde Street is a prominent corner mixed-use asset in San Francisco's Tenderloin. The property consists of 44 studio apartments and 4 commercial spaces, with a 7-car garage accessed from the Turk Street side. A large 2nd-floor office currently used by ownership will be delivered vacant. Heat is supplied by a steam boiler, and the building is master metered for gas and electricity. The property has been owned and operated by the same family for approximately 30 years. In June 2025, a fire occurred at the main electrical panel. Damage did not extend beyond the service entryway, but with no electricity to the building, all tenants have had to vacate until power is restored. The owner is working with PG&E to obtain permits to restore power, though plans have yet to be approved. To date, 7 tenants have relinquished their right to return, so those units can be delivered vacant. Communication with the remaining tenants regarding their intent to return has been limited. This is a unique opportunity to reposition a stately corner building and significantly increase income. At the time of the fire, the building was generating nearly $1,100,000 in gross rent. The current vacancy gives a new buyer a rare window to reposition the asset and realize significant upside as units turn over.