2500 Pine Street, San Francisco, CA 94115

Property Description

2500 Pine Street is an exceptionally located (4) four unit multifamily investment opportunity in the heart of San Francisco's Lower Pacific Heights neighborhood, one of the city's most dynamic, transit-rich, and amenity filled neighborhoods. Constructed in 1900, the building is approximately 2,648 square feet and features four (4) one-bedroom/one-bath units. The building has four (4) car parking. Each unit has views facing south. One of the units and corresponding parking is vacant. Ideally located along Pine Street at the corner of Pierce Street, the building places residents steps from a core retail corridor on California Street, Fillmore Street, and Japan Town. The property is also minutes from public transportation options - including Muni, BART and numerous tech shuttle routes - providing excellent connectivity to the broader Bay Area. Nearby neighborhood attractions include the magnificent St. Dominic's Catholic Church, Alta Plaza Park, Excellent Schools and the Jewish Community Center. The locations boasts of any of the city's best restaurants, grocery stores, and nightlife options. The property has low expenses at 31% of proforma rents and is in excellent physical condition. The property is separately metered for gas and electricity. Tenants have individual gas fired hot water heaters for their units and in unit heat is provided by gas wall heaters. The building has been professionally managed for over 20 years. Additional building features include a secure entry system, parking for each unit, and many vinyl double paned windows. Recent upgrades to the building include electrical and water hookup to allow a new owner to add laundry and a new roof in 2020. The building is exempt from compliance with the San Francisco Fire Alarm Sleeping Room ordinance. The building has significant upside estimated at 35% upside based on current rents compared to the market rents. Rents. 2500 Pine offers a compelling opportunity for investors seeking long-term value creation in a prestigious Lower Pacific Heights address. These factors positions this property as a standout acquisition in today's multifamily market.