Located on a quiet, tree-lined block just off Arguello Boulevard, 2 Hugo Street is a classic 1904 four-unit multifamily property in the heart of Cole Valley. The property sits on a 2,374 SF lot and offers approximately 3,000 square feet of living space across two stories plus a basement. The building consists of three 1-bedroom / 1-bathroom units and one studio, complemented by three side-by-side garage parking spaces, basement storage rooms, and on-site shared laundry. The property features separately metered gas and electric, a concrete foundation, and a wood and brick exterior, providing a solid operational profile for long-term ownership. From an investment standpoint, the property offers significant income upside. Two units are currently vacant and projected at $3,200/month market rent, while existing in-place rents remain well below market. Additional upside exists through parking optimization, with two parking spaces capable of generating market rents of approximately $350/month per space, as well as laundry and utility reimbursement income. Situated moments from Cole Valley, Golden Gate Park, UCSF, transit lines, and neighborhood retail, 2 Hugo Street benefits from strong tenant demand, excellent walkability, and long-term appreciation fundamentals. This is an ideal opportunity for an investor seeking a value-add multifamily asset in a premier San Francisco location, or for an owner-user looking to combine lifestyle, income, and future upside.