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423-433 S Van Ness Ave 6 Unit Apartment Building $5,303,356 CAD ($883,893 CAD/Unit) 6.03% Cap Rate San Francisco, CA 94103
Executive Summary
423 South Van Ness Avenue is a six-unit, mixed-use Victorian at the
crossroads of San Francisco, where the Mission, SoMa, and Civic
Center submarkets converge along the South Van Ness / Mission /
Folsom corridor. Three large three-bedroom residential flats sit
above three ground-floor commercial suites — pairing durable,
contractually locked income with meaningful residential upside in one
of the city's most central, dynamic locations. Tenants are one block
from 16th Street Mission BART and steps from Highway 101, with
Dolores Park, the Valencia retail and dining corridor, Whole Foods,
Safeway, and a dense cluster of acclaimed coffee and restaurants all
within walking distance. The building also anchors a premier
innovation district, surrounded by the offices of leading AI research
labs including OpenAI and Anthropic, plus Salesforce, Google, and
KPMG — sustained high-wage employment driving demand across the
corridor.
Income is anchored by three long-term commercial tenants on a
roughly six-year weighted-average term, with the principal anchor
secured through March 2036 — about $1.1M of committed commercial
rent remaining at in-place rates. Beneath that stability, the residential
flats carry substantial upside, with in-place rents roughly 51% below
market and a clear path to a pro forma cap rate near 9.7%.
crossroads of San Francisco, where the Mission, SoMa, and Civic
Center submarkets converge along the South Van Ness / Mission /
Folsom corridor. Three large three-bedroom residential flats sit
above three ground-floor commercial suites — pairing durable,
contractually locked income with meaningful residential upside in one
of the city's most central, dynamic locations. Tenants are one block
from 16th Street Mission BART and steps from Highway 101, with
Dolores Park, the Valencia retail and dining corridor, Whole Foods,
Safeway, and a dense cluster of acclaimed coffee and restaurants all
within walking distance. The building also anchors a premier
innovation district, surrounded by the offices of leading AI research
labs including OpenAI and Anthropic, plus Salesforce, Google, and
KPMG — sustained high-wage employment driving demand across the
corridor.
Income is anchored by three long-term commercial tenants on a
roughly six-year weighted-average term, with the principal anchor
secured through March 2036 — about $1.1M of committed commercial
rent remaining at in-place rates. Beneath that stability, the residential
flats carry substantial upside, with in-place rents roughly 51% below
market and a clear path to a pro forma cap rate near 9.7%.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,303,356 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $883,893 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.03% | Building Size | 10,568 SF |
| Gross Rent Multiplier | 12.77 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1885 |
| Property Subtype | Apartment | ||
| Zoning | M-1, San Francisco | ||
| Price | $5,303,356 CAD |
| Price Per Unit | $883,893 CAD |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| Gross Rent Multiplier | 12.77 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 10,568 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1885 |
| Zoning | M-1, San Francisco |
Amenities
Unit Amenities
- Balcony
- Hardwood Floors
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 6 | - | - |
1 1
Exceptionally walkable
100/100
Exceptionally drivable
90/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 3552-023 | Total Assessment | $1,914,429 CAD |
| Land Assessment | $875,165 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,039,264 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
3552-023
Land Assessment
$875,165 CAD
Improvements Assessment
$1,039,264 CAD
Total Assessment
$1,914,429 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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423-433 S Van Ness Ave
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