2 BR + 2 BR, 2 BA + 2 BA San Francisco 2-Unit Building for Sale: $1,725,000
2 BR + 2 BR
2 BA + 2 BA
1312-1314 Jessie Street offers tremendous opportunity for owner-occupants with income support or for investors who desire a solid 2-unit residential income property. The light-filled upper unit is ready for occupancy and offers 2 bedrooms, 2 updated bathrooms, an updated contemporary kitchen, and a well-sized balcony. The lower unit, currently leased at $4,100 per month, is also updated with 2 bedrooms and 2 bathrooms and direct access to a quaint rear yard. In-unit laundry completes the homes. This prime South of Market (SOMA) address is ideally located at the intersection of the burgeoning Duboce Triangle, Hayes Valley, Mission Dolores, and Inner Mission neighborhoods.
The building’s total living space is 1,650 sq. ft. with NCT-3 zoning (business signs are permitted, perfect for a professional service business). Projected monthly income is $8,400 (with the lower unit leased at $4,100 and the upper projected at $4,300) for a favorable GRM of 17.11 and an estimated CAP rate of 4.51%. The CAP rate includes a projected annual income of $100,800 with $22,972 in estimated operating expenses and a net income of $77,828. The estimated CAP rate is 4.51%.
With a diversity of residents and visitors to the area and a strong tech presence, SOMA is the new creative heart of San Francisco. 1312-1314 Jessie Street offers easy access to the city’s most eclectic and charming neighborhoods with some of the city’s best boutique shopping, fine dining, and cultural venues close at hand. Tech shuttles and public transit (including BART and Muni) make the neighborhood extremely convenient for commuters as well.
• 2-unit building
• 1,650 sq. ft. on a 1,934 sq. ft. lot (per tax records)
• 1314 Jessie Street: upper 2 bedroom, 2 bathroom unit with updated, efficient design and light-filled floor plan, ready for occupancy
• 1312 Jessie Street: lower 2 bedroom, 2 bathroom unit with updated design and exclusive-use rear yard, tenant-occupied at at $4,100 per month
• Dual-pane windows, updated kitchens, luxurious modern bathrooms, and premium contemporary finishes
• Washers and dryers in both units
• Street parking
• Desirable SOMA location close to dining, shopping, and public transportation
• Number of units: 2
• Projected annual income: $100,800
• Annual operating expenses: $22,972 (estimated)
• Net annual income: $77,828 (estimated)
• CAP rate: 4.51%
• GRM: 17.11
Listed At: $1,725,000
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