Multi-Family

Development Opportunity

530 Turk St, San Francisco, CA 94102

Listing Price: $7,250,000

Lot Size
9,454.00 acres
Price/Acre
$767

Investment Overview

530-540 Turk Street represents one of the most attractive San Francisco development opportunities in recent memory. The subject property is located directly across Turk Street from the Phillip Burton Federal Building in the heart of San Franciscos Civic Center District. Unencumbered by improvements, 530-540 Turk Street is leased on a month-to-month basis to an open-air parking lot operator; the lease is terminable with a 30-day notice to the tenant. Significant buildings of note within steps of the subject property include the San Francisco Public Utilities Commission, San Francisco Water & Power, California State Division of Workers Compensation, University of California Hastings College of the Law, City Hall & Civic Center Plaza, Asian Art Museum, and the San Francisco Public Library. The Civic Center District is also home to San Franciscos vibrant arts scene. Herbst Theater, the War Memorial Opera House, Davies Symphony Hall, and the Bill Graham Civic Auditorium are all located with a few blocks of 530-540 Turk Street.

The subject site is comprised of two adjacent parcels zoned RC-4, Residential-Commercial, High-Density. The parcels have a combined width of sixty-nine feet and a common depth of one hundred thirty-eight feet; the total site area for both parcels is 9,454 square feet according to county records. The propertys RC-4 zoning allows for a variety of permitted and conditional uses, and the attractive height limit, possible additional density allowance, and location are well suited for high-density residential development.

Whether for-rent, or for-sale, San Francisco has a seemingly insatiable demand for market-rate, affordable, and low-income housing. Examples of for-profit and non-profit residential development are adjacent to and within steps of 530-540 Turk Street. Nearing completion at 555 Golden Gate Avenue between Polk Street and Van Ness Avenue is Elevant, a luxury condominium project of 55 residences in a building of 11 stories by developer JS Sullivan. Construction has recently begun on 500 Turk Street, a public/non-profit collaboration with the Tenderloin Neighborhood Development Corporation (TNDC), the San Francisco Mayors Office of Housing, San Francisco Municipal Transportation Agency (SFMTA), and the Bay Area Rapid Transit (BART) to construct 108 units for low-income families directly adjacent to the subject property.

530-540 Turk Street is a unique opportunity for a developer or add-value investor fluent in ground-up projects in an urban setting. The subject propertys infill, barriers to entry location in arguably the most dynamic employment, and housing markets in the country is a rare opportunity.

Investment Highlights

  • Located in the Heart of San Franciscos Civic Center District
  • Ideal Location for High-Density Residential Development.
  • Interim, Short-Term Parking Lot Tenant Provides Cash Flow to Pay Development Costs

Exclusively Listed By

Multi-Family

Development Opportunity

Listing Price: $7,250,000

Lot Size
9,454.00 acres
Price/Acre
$767

Investment Highlights

  • Located in the Heart of San Franciscos Civic Center District
  • Ideal Location for High-Density Residential Development.
  • Interim, Short-Term Parking Lot Tenant Provides Cash Flow to Pay Development Costs

Investment Overview

530-540 Turk Street represents one of the most attractive San Francisco development opportunities in recent memory. The subject property is located directly across Turk Street from the Phillip Burton Federal Building in the heart of San Franciscos Civic Center District. Unencumbered by improvements, 530-540 Turk Street is leased on a month-to-month basis to an open-air parking lot operator; the lease is terminable with a 30-day notice to the tenant. Significant buildings of note within steps of the subject property include the San Francisco Public Utilities Commission, San Francisco Water & Power, California State Division of Workers Compensation, University of California Hastings College of the Law, City Hall & Civic Center Plaza, Asian Art Museum, and the San Francisco Public Library. The Civic Center District is also home to San Franciscos vibrant arts scene. Herbst Theater, the War Memorial Opera House, Davies Symphony Hall, and the Bill Graham Civic Auditorium are all located with a few blocks of 530-540 Turk Street.

The subject site is comprised of two adjacent parcels zoned RC-4, Residential-Commercial, High-Density. The parcels have a combined width of sixty-nine feet and a common depth of one hundred thirty-eight feet; the total site area for both parcels is 9,454 square feet according to county records. The propertys RC-4 zoning allows for a variety of permitted and conditional uses, and the attractive height limit, possible additional density allowance, and location are well suited for high-density residential development.

Whether for-rent, or for-sale, San Francisco has a seemingly insatiable demand for market-rate, affordable, and low-income housing. Examples of for-profit and non-profit residential development are adjacent to and within steps of 530-540 Turk Street. Nearing completion at 555 Golden Gate Avenue between Polk Street and Van Ness Avenue is Elevant, a luxury condominium project of 55 residences in a building of 11 stories by developer JS Sullivan. Construction has recently begun on 500 Turk Street, a public/non-profit collaboration with the Tenderloin Neighborhood Development Corporation (TNDC), the San Francisco Mayors Office of Housing, San Francisco Municipal Transportation Agency (SFMTA), and the Bay Area Rapid Transit (BART) to construct 108 units for low-income families directly adjacent to the subject property.

530-540 Turk Street is a unique opportunity for a developer or add-value investor fluent in ground-up projects in an urban setting. The subject propertys infill, barriers to entry location in arguably the most dynamic employment, and housing markets in the country is a rare opportunity.

Exclusively Listed By

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