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1040-1042 Howard St 9 Unit Apartment Building $2,450,000 ($272,222/Unit) 5.98% Cap Rate San Francisco, CA 94103
Executive Summary
1040 Howard Street is a nine-unit mixed-use property located on a strong block in SOMA. This turn-key asset has been professionally managed and well-maintained, offering an excellent investment opportunity. The property consists of four one-bedroom units, four studios, and a large ground-floor commercial space.
The commercial space will be delivered vacant and occupies the entire ground floor of the building. It features a large open area upon entry, a full kitchen, in-unit laundry, and three additional rooms that could serve as private offices. Alternatively, a new owner may explore the potential to convert the space to a residential unit, for which the layout is well-suited.
Most of the residential units have been tastefully updated in recent years. Improvements include tile kitchen floors, stone countertops, LVT flooring, and select newer windows. Common areas are well-maintained.
The main electrical indicates 400 amps of service, and all units are separately metered for gas and electricity. It is flanked on both sides by a nonprofit that provides a positive and stabilizing presence on the block.
Overall, this is a compelling opportunity to acquire a turn-key mixed-use building with upside
potential at an attractive entry-level price point.
The commercial space will be delivered vacant and occupies the entire ground floor of the building. It features a large open area upon entry, a full kitchen, in-unit laundry, and three additional rooms that could serve as private offices. Alternatively, a new owner may explore the potential to convert the space to a residential unit, for which the layout is well-suited.
Most of the residential units have been tastefully updated in recent years. Improvements include tile kitchen floors, stone countertops, LVT flooring, and select newer windows. Common areas are well-maintained.
The main electrical indicates 400 amps of service, and all units are separately metered for gas and electricity. It is flanked on both sides by a nonprofit that provides a positive and stabilizing presence on the block.
Overall, this is a compelling opportunity to acquire a turn-key mixed-use building with upside
potential at an attractive entry-level price point.
Property Facts
| Price | $2,450,000 | Property Subtype | Apartment |
| Price Per Unit | $272,222 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.98% | Lot Size | 0.06 AC |
| Gross Rent Multiplier | 11.1 | Building Size | 6,540 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1914 |
| Zoning | SLR, San Francisco | ||
| Price | $2,450,000 |
| Price Per Unit | $272,222 |
| Sale Type | Investment |
| Cap Rate | 5.98% |
| Gross Rent Multiplier | 11.1 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 6,540 SF |
| No. Stories | 3 |
| Year Built | 1914 |
| Zoning | SLR, San Francisco |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 3726-018 | Improvements Assessment | $1,116,648 |
| Land Assessment | $599,592 | Total Assessment | $1,716,412 |
Property Taxes
Parcel Number
3726-018
Land Assessment
$599,592
Improvements Assessment
$1,116,648
Total Assessment
$1,716,412
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1040-1042 Howard St
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