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1312 Jackson Street

1312 Jackson Street

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21 Units

Nob Hill

1312 Jackson Street is a 21 unit apartment building centrally located inthe Nob Hill district of San Francisco. The historicSan Francisco Powell / Hyde Cable Car line runs westerly in front of theproperty in route to iconic Lombard Street and Fisherman’s Warf stops.The building is also within walking distance to shopping, restaurants, andnightlife and conveniently located to public transportation and freeway access.The property was built in 1909 and is a wood frame structure with a concretefoundation. Current zoning allows for a 65 foot height limit and the currentstructure is 4 stories. The unit mix is 13-Studios and 8-one bedroom/one bathunits and a small basement office unit. Several upper units boost great GoldenGate Bridge and Bay views. Current ownership has already performed thenecessary work to comply with the mandatory retrofit requirements (2016).Further capital improvements include: New hot water heater tank replacement(2016) & new boiler (2012), partial exterior painting (2014, 2016), common areaexit lighting installation (2015), new plumbing waste stacks on west side ofproperty (approximately 2014), new plumbing waste stacks on north side ofproperty (approximately 2015), and new common area carpets (2016). Eightsecure storage spaces and a small office were also created in 2015 in previouslyunused space.Kitchens and bathrooms have been upgraded upon turnover and currently thereare two vacant remodeled units. The building has newer electrical panels andis separate gas meters and electric meters with circuit breakers. The heat isprovided by a central steam boiler with a separate hot water heating system. Theroof material is rolled composite and appears to be in good condition.The building has in excess of 130% rental upside compared to current marketrent. The building should qualify for an additional capital improvement passthrough for common area carpet replacement. This property offers manyoptions to investors and add-value buyers looking for significant upsidepotential with limited downside risks.

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Property Specifics

Status: Sold
Sale: $5,410,000
San Francisco