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Multifamily

3362-3372 24th St

3362-3372 24th St, San Francisco, CA 94110

Listing Price: $3,200,000

Cap Rate
4.77%
Number of Units
9
Occupancy
100.0%
Price/Unit
$355,556
Price/Gross SF
$397.02
Gross SF
8,060

Investment Overview

Marcus & Millichap is pleased to present 3362-3372 24th Street, nine-unit multifamily. The subject property is located in the heart of San Francisco’s most ambitious, stylist, and energetic Mission and Valencia neighborhood. The property is a freestanding corner building in the prime Mission District - on 24th Street and just steps from the Valencia business district. 3362-3372 24th Street is conveniently next to endless modern dining and bars (Lolo, Beretta, Burma Love, The Beehive), trendy independent shops, and vibrant murals in alleyways. Popular nearby attractions including Mission Dolores Park, Bi-Rite Market, Balmy Alley. This classic building is comprised of seven residential units plus two non-conforming residential units. The building is 8,060 square feet with four floors, including a full residential basement floor and a large detached parking garage situated on a 4,369 square feet lot. The property offers a tremendous unit mix with one large studio, one 2-bed 1-bath, two 3-bed 1.5-bath, and five 3-bed 1-bath. All apartments have high ceilings, a functional layout, and abundant natural light throughout the units. Six out of nine apartment units had undergone renovation or upgrade. Three out of nine apartment units are original with victorian details. Additionally, the property provides supplemental income from the on-site laundry facility, which offers tenants the ease of cleaning clothes at home. Most units have individual water heaters. The electrical code has been upgraded to 277/480 Volt 4-Wire 3-Phase; the property is equipped with solar panels and reroofed in 2007. This asset has been meticulously maintained and cared for under current ownership and includes various upgrades throughout the property.

Investment Highlights

  • Well Maintained Asset with Significant Upgrades/Capital Improvements
  • Seismic Retrofit Has Been Completed Voluntarily
  • Mission and Valencia Neighborhood
  • Charming Freestanding Corner Building
  • Upper Floors: Two 3-Bed 1.5-Bath and Five 3-Bed 1-Bath
  • Bonus Income: Two Non-Conforming (One Large Studio, One 2-Bed 1-Bath)
  • Low Operating Expenses - Equipped with Solar Panels

Exclusively Listed By

Listing Price: $3,200,000

Cap Rate
4.77%
Number of Units
9
Occupancy
100.0%
Price/Unit
$355,556
Price/Gross SF
$397.02
Gross SF
8,060

Investment Highlights

  • Well Maintained Asset with Significant Upgrades/Capital Improvements
  • Seismic Retrofit Has Been Completed Voluntarily
  • Mission and Valencia Neighborhood
  • Charming Freestanding Corner Building
  • Upper Floors: Two 3-Bed 1.5-Bath and Five 3-Bed 1-Bath
  • Bonus Income: Two Non-Conforming (One Large Studio, One 2-Bed 1-Bath)
  • Low Operating Expenses - Equipped with Solar Panels

Investment Overview

Marcus & Millichap is pleased to present 3362-3372 24th Street, nine-unit multifamily. The subject property is located in the heart of San Francisco’s most ambitious, stylist, and energetic Mission and Valencia neighborhood. The property is a freestanding corner building in the prime Mission District - on 24th Street and just steps from the Valencia business district. 3362-3372 24th Street is conveniently next to endless modern dining and bars (Lolo, Beretta, Burma Love, The Beehive), trendy independent shops, and vibrant murals in alleyways. Popular nearby attractions including Mission Dolores Park, Bi-Rite Market, Balmy Alley. This classic building is comprised of seven residential units plus two non-conforming residential units. The building is 8,060 square feet with four floors, including a full residential basement floor and a large detached parking garage situated on a 4,369 square feet lot. The property offers a tremendous unit mix with one large studio, one 2-bed 1-bath, two 3-bed 1.5-bath, and five 3-bed 1-bath. All apartments have high ceilings, a functional layout, and abundant natural light throughout the units. Six out of nine apartment units had undergone renovation or upgrade. Three out of nine apartment units are original with victorian details. Additionally, the property provides supplemental income from the on-site laundry facility, which offers tenants the ease of cleaning clothes at home. Most units have individual water heaters. The electrical code has been upgraded to 277/480 Volt 4-Wire 3-Phase; the property is equipped with solar panels and reroofed in 2007. This asset has been meticulously maintained and cared for under current ownership and includes various upgrades throughout the property.

Exclusively Listed By

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