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
August 30, 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
Days on Market
608
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 8/30/2024.
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 4:28 PM UTC, 8/30/2024