Active

1538 Polk Street

San Francisco CA, 94109

$5,950,000


$420.20 per sqft

Active

14,160 sqft

Multi-family

Built in 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.

422710083

MLS ID

November 14, 2022

Listed

May 22, 2024

Updated

Map

1538 Polk Street
San Francisco CA, 94109

Interior Features

Total Stories

0


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.11 Acres


Lot Features

Shape Regular

Other Property Details

Area Name

SF District 8


Garage

No


Parking Total

0


View

No


County

San Francisco


Pool

No

Listed by Brian Leung with Compass Commercial

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 5/22/2024.

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 Joel Goodrich shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data last updated 8:10 PM UTC, 5/22/2024

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