483-497 22nd Ave - Apartments FOR SALE


San Francisco, CA 94121- Richmond District
$3,688,888 USD
415-816-1888
483-497 22nd Ave, San Francisco, CA for Sale
$3,688,888 USD
Apartments - FOR SALE
1/29
null | 4.12% Cap Rate

483-497 22nd Ave
San Francisco, CA 94121
Richmond District


HIGHLIGHTS

  • The units are large and well laid out with ample storage and light. All non-ADU units feature a formal living room and formal dining room, each with i
  • Eight independent garages provide 11 parking spaces (three tandem 2-car and five single 1-car).
  • Softstory seismic retrofit design and construction are complete.
  • One unit is the owner’s unit and will be delivered vacant.
  • Siding has been fully replaced, with new windows on the west and north elevations.

OVERVIEW

483-497 22nd Avenue presents the opportunity to acquire a nine-unit multifamily property in San Francisco’s Outer Richmond/Central Richmond neighborhood. Situated on a prominent corner at 22nd Avenue and Anza Street, the property consists of two interconnected buildings surrounding a central courtyard and includes eight traditional apartment units plus one accessory dwelling unit. The asset benefits from completed soft-story seismic retrofit work, reducing future capital improvement obligations and providing added certainty for ownership. The property is currently occupied by eight of nine residential units, creating a near-term value enhancement opportunity through lease-up of the vacant unit. The unit mix includes a combination of one-bedroom and two-bedroom residences, many featuring formal living and dining rooms that provide flexible layouts. Additional amenities include a substantial parking component with eight independent garages accommodating eleven vehicles, a feature that is increasingly difficult to find in urban San Francisco multifamily assets. The location offers convenient access to Golden Gate Park, Ocean Beach, Lands End, the Presidio, neighborhood retail and dining corridors along Balboa Street and Geary Boulevard, and public transportation via the Geary corridor. These nearby amenities contribute to tenant demand while providing residents with access to recreation, services, and transportation throughout the city. At the asking price of $3,688,888, the offering provides investors the opportunity to acquire a well-maintained asset with existing cash flow, a completed seismic compliance program, parking infrastructure, and future income growth potential through operational improvements and leasing activity.

FOR SALE DETAILS

PRICE

$3,688,888 USD

PRICE/SF

$426 USD /SF

# OF UNITS

9

PRICE/UNIT

$409,876

CAP RATE

4.12%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1922

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,750 SF

ZONING

RM1

APN/PARCEL ID

1522-015

ASK ABOUT THIS PROPERTY

Earl ChanMadison HunterMore Info
415-816-1888

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Earl ChanMadison HunterMore Info
415-816-1888

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.