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Listed by Brian Leung Compass Commercial
$ 5,950,000
Est. payment | /mo
14,160 SqFt
$ 5,950,000
Est. payment | /mo
14,160 SqFt
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 14,160 sqft
Price per Sqft $420
MLS Listing ID 425007372
HOA Y/N No
Year Built 1907
Lot Size 4,721 Sqft
Acres 0.1084
Property Sub-Type Mixed Use
Property Description
1538-1544 Polk Street is a mixed-use (hotel + retail) property in the Nob Hill/Polk Gulch neighborhood of San Francisco. The three-story property features three (3) retail units on the ground floor and a 40-unit SRO/hotel above that is master leased to an operator, Shirley Hotels''. Of the 40 rooms, 21 are SRO units, 7 are SRO with partial baths, 9 are tourist/transient and 3 are for manager use. The SRO units without bathrooms share 3 common area bathrooms. Two of three retail units are occupied by a tuxedo retailer and a foot massage service. The 40 room hotel is currently month-month. A savvy investor may renegotiate the lease or operate the hotel to significantly increase cash flow. The property is in a central location of the Polk Street commercial corridor in Nob Hill. The street is famous for its historic architecture, Michelin-rated cuisine, and abundant retail amenities. It is an exceptional location for this type of property due to its walkability and easy access to public transit. The investment appeal of this property is its location in San Francisco's most desirable neighborhood and its significant upside potential. Proforma CAP 5% based on vacant units rented at market rents.
Location
State CA
County San Francisco
Area Sf District 8
Interior
Fireplace No
Building
Lot Description Shape Regular
New Construction No
Others
Tax ID 0644016
