Key Details

Sold Price $2,135,000

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 4,765 sqft

Price per Sqft $448

MLS Listing ID 425055414

Bedrooms 10

Year Built 1914

Lot Size 2,500 Sqft

Property Sub-Type Mixed Use

Property Description

449-451 9th Street is a mixed-use, 11-unit building centrally located in the heart of San Francisco's vibrant SOMA neighborhood. Constructed in 1914 and encompassing approximately 4,765 square feet, the property features a blend of ten (10) - 1 bedroom / 1 bath apartment units and one (1) ground-floor commercial space. Units are thoughtfully designed with wood flooring, modern kitchenettes featuring quartz countertops and gas stoves, updated bathrooms, and ample natural light. Each residential unit benefits from dedicated storage space and access to a recently renovated backyard. Situated on a 2,500-square-foot parcel zoned SCI, the building offers separately metered gas and electricity, a local hardwired fire system, and updated water heaters. The building is fully compliant with San Francisco's Fire Alarm Sleeping Room Ordinance including both a front and rear fire escape and is in compliance with the San Francisco Soft-Story ordinance. This asset represents a strong value-add investment opportunity with approximately 42% rental upside. Current rents are notably below market, and the building offers a 7.11% cap rate with a projected pro forma cap rate of 10.83% and an impressive 7.03% cash-on-cash return. With a high-demand unit mix, strong in-place income, and location within walking distance of major transit options, tech shuttles, and downtown amenities, 449-451 9th Street delivers immediate cash flow with meaningful potential for future growth in one of San Francisco's most active rental submarkets.

Location

State CA

County San Francisco

Area Sf District 9

Interior

Flooring Carpet, Concrete, Wood

Laundry Common Area

Building

Lot Description Sidewalk

New Construction No

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Paolo Ocampo

+1(510) 736-3886

Agent | CA BRE #02127190

Agent CA BRE #02127190

449 9th ST San Francisco, CA 94103