278 States St 8 Unit Apartment Building $5,889,882 CAD ($736,235 CAD/Unit) 5.30% Cap Rate San Francisco, CA 94114

278 States Street presents a rare opportunity to acquire a well-maintained, multi-structure asset situated at the crest of the highly coveted Corona Heights neighborhood.
This unique property consists of two distinct buildings on a single lot, providing dual street access from both States Street and Roosevelt Way.
Building Composition & Features
Originally constructed in 1960, the property comprises nine total residential units (eight residential units plus one occupied, unwarranted studio). The primary unit mix
consists of spacious two-bedroom, one-bathroom floor plans, designed to maximize natural light and capture the expansive city views characteristic of this elevated
location.
Infrastructure: The buildings are set on a sturdy concrete foundation with a seismic retrofit completed in 2018.
Utilities: Electrical service is robust at 400 amps, and units are separately metered for gas and electricity, keeping operational expenses efficient.
Parking & Amenities: Ample parking is provided via a four-car garage on States Street and three tuck-under spaces on Roosevelt Way. Residents also enjoy a shared
laundry facility and a large communal deck connecting the two structures.
Value-Add & Asset Details
The Roosevelt Way building houses two apartments, a large storage room, the laundry facility, and a rooftop studio. This studio features a private deck and stunning
panoramic views, offering a new owner the potential to pursue legalization and further solidify the property’s income stream. With well-maintained systems and a
considerable gap between current and market rates, the asset offers substantial rental upside.
Prime Corona Heights Location
Corona Heights remains one of San Francisco’s most desirable residential enclaves, offering a central location with seamless access to:
Shopping & Dining: Walking distance to the vibrant Castro and Haight Street districts.
Recreation: Proximity to Corona Heights Park, Buena Vista Park, and the Twin Peaks recreation areas.
Major Employers: Ideally located just blocks from world-class medical institutions, including UCSF Parnassus and CPMC Davies Campus.
Transit: Easy access to downtown via public transportation and a quick connection to the Peninsula via nearby highway arterials.
This is an exceptional opportunity to own a turnkey, seismically updated asset with clear paths for continued appreciation and revenue growth in a supply-constrained
market.