3265 22nd St
San Francisco, CA 94110
Multifamily Property For Sale · 5 Units

The subject property is a seven-unit mixed use building along the Valencia Corridor. Its facade is minimalist Victorian with 40 feet of frontage on 22nd Street. This concrete building with wood frame construction was built in 1900 and has a stucco exterior. With significant upside in rents and a good location, 3265 22nd Street is a very attractive investment opportunity. The property consists of 2 three-bedroom, one-bathroom units and 2 one-bedroom, one-bathrooms units. The commercial units include Mission Picnic restaurant and two office spaces. One office space, 3265, has similar hook ups to Mission Picnic, which could allow for a relatively quick and less costly conversion to retail frontage. 3273, uses the office space as storage for their restaurant. 3275 has a five-year lease with Mission Picnic, ending in 2019 with one five-year option to renew. There are $50/month increases written into the lease. Mission Picnic reimburses the owner for property taxes.The two office spaces have month-to-month leases, which could allow immediate rental upside on the property. Each unit is separately metered for gas & electric and the roof is tar & gravel. The rental market for the Mission District is one of the strongest in San Francisco, with many shops, restaurants, and bars that drive people tothe district. The subject property is an excellent opportunity to buy a well-located asset with upside potential. This property is an ideal investment for investors in a 1031 exchange, cash flow investors, and value add investors.