1312-1314 Jessie St., San Francisco, CA

2 BR + 2 BR, 2 BA + 2 BA San Francisco 2-Unit Building for Sale: $1,650,000

Details

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neighborhood

SOMA

bedrooms

2 BR + 2 BR

bathroom

2 BA + 2 BA

type

Duplex

square feet

1,650

Sold

$1,650,000

Description

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Prime SOMA 2-Unit Income Property

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, modern top-floor flat is ready for occupancy with 2 bedrooms, 2 updated bathrooms, an open floor plan, and a well-sized balcony overlooking a lush garden. The lower unit, currently leased at $4,100 per month, is also updated with 2 bedrooms and 2 bathrooms and direct access to a rear yard. Each home is a true urban retreat and was recently renovated with design-inspired modern kitchens with quartz countertops and stainless appliances and two contemporary full bathrooms each. Both units include master bedrooms with en-suite bathrooms and come complete with dual-pane windows, on-demand hot water systems, and in-unit laundry facilities. These prime South of Market (SOMA) address are 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. 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 16.37 and an estimated CAP rate of 4.59%. The CAP rate includes a projected annual income of $100,800 with $24,993 in estimated operating expenses and a net income of $75,807.

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.

Building Features

• 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; also available for sale as an individual TIC
• 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
• Access to Hayes Valley and Valencia Corridor

Financials:

• Number of units: 2
• Projected annual income: $100,800
• Annual operating expenses: $24,993 (estimated)
• Net annual income: $75,807 (estimated)
• CAP rate: 4.59%
• GRM: 16.37

Sold On: May 07 2018

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1312-1314 Jessie St., San Francisco, CA
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