1538 Polk Street

San Francisco, CA, 94109

$5,950,000

$420 per ft²
$5,950,000
$420 per ft²
Active
Active
 - For Sale
carpenters-square
14,160 ft²
property_type
Multi-family
calendar
Built 1907
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.
MLS® ID:
422710083
Listed:
11/13/22
Updated:
1/27/23
Bay Area Local Real Estate
Rebecca Brooks

Exterior/Building Features

Lot Size
4,721 ft² lot
Lot Details
Shape Regular

Other Property Details

Area Name
SF District 8
Garage
No
Parking
N
View
N
County
San Francisco
Pool
No

Courtesy of Brian Leung, DRE #, Compass Commercial
Listing Contact:  

Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS, but is not warranted. Data last updated on 1/27/23.

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Rebecca Brooks shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data last updated 9:32 PM UTC, 1/27/23

Bay Area Local Real Estate
Rebecca Brooks
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