Investment Overview

381 Broadway is a well-located mixed-use investment in the heart of Jackson Square, one of San Francisco’s most desirable and supply-constrained submarkets. Just steps from the Transamerica Pyramid and a stone’s throw from neighborhood icons such as Cotogna and Blue Bottle Coffee, the property sits at the crossroads of North Beach, Chinatown, the Financial District, and the Embarcadero, providing exceptional connectivity and enduring demand. This property consists of a 42-room Residential Hotel (SRO) above a large, street-level commercial space, providing diversified income from two complementary uses. The ground floor is occupied by Centerfolds, a strong, well-capitalized tenant with deep roots along the Broadway corridor. A new 10-year lease executed at the end of 2025 provides long-term income stability, with the tenant reimbursing approximately one-third of the property taxes, materially reducing operating expenses. The residential hotel has been owned and carefully managed by the same family for nearly 50 years, spanning two generations. Operations have been conservative, and the current 17 vacant units present a clear value-add opportunity for a new operator to implement updated marketing strategies and drive increased occupancy and revenue. The property has benefited from significant capital improvements, including a completed seismic retrofit, upgraded fire alarm system with horns, full sprinkler coverage, and all new double-paned, energy-efficient windows. Additional amenities include onsite coin-operated laundry. A unique quality of the property is the accessibility from three sides of the building, allowing for efficient upgrades, maintenance, and future capital work. With a prime Jackson Square location, stabilized long-term commercial income, embedded residential upside, and strong physical fundamentals, 381 Broadway represents a compelling opportunity to acquire a well-maintained mixed-use asset in the core of San Francisco.