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677 Ellis St 14 Unit Apartment Building $2,475,000 ($176,786/Unit) 6.82% Cap Rate San Francisco, CA 94109
Investment Highlights
- 14-unit studio property located in a dense, transit-oriented San Francisco neighborhood with long-term rental demand.
- In-place rents average ~26% below market, creating a clear path to increased income through lease-up and rent repositioning.
- Offered at ~$176K per unit with a 6.82% current cap rate and a projected 10.14% pro forma cap.
Executive Summary
677 Ellis Street presents a rare opportunity to acquire a fully renovated, turnkey 14-unit apartment building in the heart of San Francisco. Comprised of fourteen studio residences, the property offers investors an attractive 6.82% current CAP rate with stable in-place income and minimal deferred maintenance. Recent capital improvements include brand-new electrical throughout the building, while the units have been extensively renovated with high-end designer finishes, creating a modern living experience that appeals to today's urban renter. This is an ideal opportunity to own a quality, low-maintenance asset in one of San Francisco's most supply-constrained rental markets at only $176,000 per unit!
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,475,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $176,786 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 6.82% | Building Size | 6,486 SF |
| Gross Rent Multiplier | 9.21 | Average Occupancy | 93% |
| No. Units | 14 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1908 |
| Property Subtype | Apartment | ||
| Zoning | RC4, San Francisco | ||
| Price | $2,475,000 |
| Price Per Unit | $176,786 |
| Sale Type | Investment |
| Cap Rate | 6.82% |
| Gross Rent Multiplier | 9.21 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 6,486 SF |
| Average Occupancy | 93% |
| No. Stories | 4 |
| Year Built | 1908 |
| Zoning | RC4, San Francisco |
Amenities
Unit Amenities
- Dishwasher
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 14 | - | 231 - 362 |
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 0335-018 | Total Assessment | $3,047,634 |
| Land Assessment | $1,682,847 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,361,228 | Tax Year | 2025 |
Property Taxes
Parcel Number
0335-018
Land Assessment
$1,682,847
Improvements Assessment
$1,361,228
Total Assessment
$3,047,634
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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677 Ellis St
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