Investment Overview

Situated directly across the Great Highway from Ocean Beach, this 37 unit property is a true one-of-a-kind multifamily asset. The property consists of 4 structures on one lot with a variety of unit types throughout the property. The Outer Sunset neighborhood has experienced a tremendous renaissance as the work-from-home crowd has flocked to be near the beach and the easy public transportation to downtown. The Great Highway being closed to cars has also made the area tremendously desirable as residents can freely use the road for all manner of activities. It has been so popular, that the closure has been made permanent on the weekends. The property consists of 24 spacious studio units, 12 one bedrooms and one 3 bedroom unit. There are a number of undedicated parking spaces and storage spaces that could be rented by a new owner. Currently there are 2 vacant units. The common area halls are spacious, with high ceilings and new carpet throughout. The roof of the largest structure is tar and gravel and appears to be in good condition, while the roofs of the other 3 structures are pitched shingle. The main structure, comprised of 24 units, is master metered for gas and electricity and the heat in these units is electric or gas wall heater. Six units in the 1546 structure are separately metered for electricity, which the tenants pay for. Several units have benefited from recent renovations and many of the units have multiple years of banked rent increases.