Investment Overview

Marcus and Millichap is pleased to present the Cova Hotel located at 655 Ellis St in San Francisco. The Cova Hotel is a world-famous hotel that has a long and storied past. The hotel has been a favorite for SFO-based air carriers as well as a hip boutique urban oasis. The Cova is a gorgeous 96-room hotel across 8 stories built in 1969. The property provides a variety of top-notch amenities at the hotel, including a fitness center, an onsite restaurant, conference rooms for business travelers, a rooftop deck, and a lounge for gatherings. Guests can take in stunning views of the city from the hotel’s rooftop terrace. The hotel is being delivered vacant and holds substantial future potential for the next investor.San Francisco is historically a top hospitality market within the United States, consistently performing in the top three markets for ADR, Occupancy, and REVPAR. The property provides a unique opportunity for conversion to student housing and/or government-assisted housing. Given its central location, access to city services, as well as public transportation allows an investor to reimagine the asset as a student housing opportunity.