San Francisco Multifamily for Sale - MidMarket
DESPERATE / MUST SELL!!!
10 one bedrooms, 44 studios, 2 large commercial units ALL OCCUPIED!!
77-83 9th Street is a well-maintained 6-story concrete and steel building built in 1912 and fully renovated in 2012 and 2024. Located on 9th Street between Mission and Market in an urban neighborhood, this building contains 44 studios, each with their own private bathroom and full kitchen, and 10 one-bedroom apartments with full kitchen and bathrooms with 22,670 square feet. There is also a shared laundry room, 2 commercial storefronts that are fully leased. There is a full basement, portions of which could be upgraded and leased for additional income as storage units. The building has been well maintained and offers an attractive combination of classic San Francisco character and modern functionality. Many units feature hardwood flooring, quartz counter tops, tile backsplashes with abundant natural light throughout. Many units have been renovated with a fresh paint job on the outside. The building is master metered for gas and electric, except for the 2 commercial spaces. This property is fully monitored with video surveillance camera systems securing the entire property. Construction is typical wood framing with concrete foundation walls raised to create a partial basement on the southern portion and slab on grade foundation on the northern portion. The exterior finishes consist of painted brick veneer and stucco siding. The flat roof contains built up covering. Units are heated by electric wall heaters. Domestic hot water is provided by a central gas fired boiler located in the basement. Domestic water lines are copper. Electrical wiring is observed as copper. The building is currently 100% occupied and perfectly located close to transportation, many Mid-Market tech firms, Union Square and downtown. This is a turnkey operation. The management of this property is simple. The tenants directly deposit most of their rent and there is no deferred maintenance. This property can be managed effortlessly as your investment grows. Located in one of San Francisco’s most connected neighborhoods, 81 9th Street provides easy access to BART, Caltrain, and major freeways. The subject location is located in the SOMA neighborhood of San Francisco and is part of the central business district and across the street from the old Twitter building. The property is situated in the heart of San Francisco’s dynamic SoMa neighborhood offering access to tech employers, Civic Center, BART/MUNI lines and top dining and nightlife. The location benefits from continued area revitalization and infrastructure investments, making it poised for long-term growth. The two commercial units are doing vibrant business. A taco shop chain and a spiritual and uplifting center that both do very well. You will appreciate the neighborhood amenities near 81 9th Street. This part of San Francisco is bike friendly, so you get around town easily. You can go for a walk in one of the neighborhood parks. If you like to walk, you will find streets lined with trees and sidewalks that are well-lit at night. Residents in this neighborhood consider the area to be walkable with stores, public transportation, and shops nearby. The property at 77-83 9th Street in San Francisco, CA has strong investment potential due to its proximity to major employers, transportation routes, shopping centers, dining venues, and entertainment options. It is an attractive option for renters seeking convenience and accessibility. The combination of a robust economy and desirable location make this property a promising investment opportunity in the San Francisco real estate market. 77-83 9th Street blends historic charm with urban realities, offering affordable living with great potential and a strong sense of community, particularly appealing to those seeking proximity to medical facilities and a diverse, established neighborhood. With immediate access to one of the nation’s best public transit systems the area around 77-83 9th Street offers an extensive transportation network with ensures superior regional access throughout the San Francisco and surrounding Bay Area. Atlantic cities “Access Across American, Transit 2022” ranked San Francisco second only to New York public transit efficiency, based on how many jobs a resident can access within a 10-to-30-minute commute during the morning rush hours of 7am to 9am. The subject property is within walking distance of a variety of public transit systems on California Street, Park Presidio and Geary Blvd, in addition to a variety of San Francisco’s caravan of “tech shuttles” moving busloads of google, Genentech, Facebook and Apple employees from their homes in San Francisco to their job centers in Silicon Valley via Park Presidio Boulevard. This is an opportunity to acquire a stable, income-generating asset in one of San Francisco’s most strategically positioned neighborhoods, and string existing tenancy. It appeals to both cash-flow focused investors and value add buyers looking to boost NOI through residential turnover or commercial lease optimization. This asset represents a strong investment opportunity with approximately 25% rental upside. Current rentals are notably below market, and the building offers a 5.% cap rate with a projected pro forma cap rate of 7.5%. With a high-demand unit mix, strong in place income and location within walking distance of major transit options, tech shuttles, and downtown amenities, 81 9th Street delivers immediate cash flow with meaningful potential for future growth in one of San Francisco’s most active rental submarkets. SoMa (South of Market) is a large, dynamic San Francisco neighborhood south of Market Street, known for its mix of historic warehouses, modern tech offices, museums (SFMOMA, Yerba Buena), major venues (Moscone Center), nightlife, diverse restaurants, and cultural pockets like SOMA Pilipinas, offering a vibrant, urban experience with great transit. It blends industrial roots with contemporary culture, featuring art galleries, parks (Yerba Buena Gardens), and home to the Giants' Oracle Park.
