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5947-5949 Geary Blvd
6 Unit Apartment Building $1,988,000 USD ($331,333 USD/Unit) 5.01% Cap Rate San Francisco, CA 94121
Investment Highlights
- Prime San Francisco location near Presidio, Ocean Beach and Golden Gate Park
- Potential for higher income as tenant apartments are not at market rate rents yet.
- Seismic Retrofit Compliance is completed. Fire Alarm System Installed. Roof is newer.
- Geary Boulevard is a popular commercial and residential area with many shops, restaurants, bars and stores.
- Commercial Store Front has a 10 year lease but owner is allowed to increase rent every other year.
Executive Summary
Mid Century mixed use 6-unit residential income earner located in prime Central Richmond District of San Francisco. Consisting of five spacious 1 bedroom and 1 bath apartments + an additional ground floor commercial unit with ADA accessible bathroom and separate utility meters. There is also a common area coin-operated laundry room, gated entry and additional storage provided. Currently all apartments including the commercial space are occupied providing excellent annual income with potential to grow. With close proximity to some of the best landmarks in the city such as Golden Gate Park, The Presidio, Legion of Honor, Lincoln Park Golf Course, or Lands End, Sea Cliff and Ocean Beach. Geary Boulevard offers popular restaurants, bars, grocery, coffee shops and easy MUNI Public Transportation with direct access to downtown and more.
Property is ALL tenant occupied & Subject to Tenants Rights (photos of vacant units taken before being rented). Pls Do Not Disturb Occupants. No For Sale sign or lockbox at property. PLEASE contact Agent with questions and info. NOI is actual at $99,692. Cap is 4.99% & GRM 14.2%. Commercial earns $1,500 per month. Coin-op laundry earns $280 per month. Leases Available. Seismic Retrofit completed. Newer Roof.
Property is ALL tenant occupied & Subject to Tenants Rights (photos of vacant units taken before being rented). Pls Do Not Disturb Occupants. No For Sale sign or lockbox at property. PLEASE contact Agent with questions and info. NOI is actual at $99,692. Cap is 4.99% & GRM 14.2%. Commercial earns $1,500 per month. Coin-op laundry earns $280 per month. Leases Available. Seismic Retrofit completed. Newer Roof.
Financial Summary (Actual - 2023) |
Annual (USD) | Annual Per SF (USD) |
|---|---|---|
| Gross Rental Income |
$140,745
|
$20.49
|
| Other Income |
$280
|
$0.04
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$141,025
|
$20.53
|
| Taxes |
$18,762
|
$2.73
|
| Operating Expenses |
$22,571
|
$3.29
|
| Total Expenses |
$41,333
|
$6.02
|
| Net Operating Income |
$99,692
|
$14.51
|
Financial Summary (Actual - 2023)
| Gross Rental Income (USD) | |
|---|---|
| Annual | $140,745 |
| Annual Per SF | $20.49 |
| Other Income (USD) | |
|---|---|
| Annual | $280 |
| Annual Per SF | $0.04 |
| Vacancy Loss (USD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (USD) | |
|---|---|
| Annual | $141,025 |
| Annual Per SF | $20.53 |
| Taxes (USD) | |
|---|---|
| Annual | $18,762 |
| Annual Per SF | $2.73 |
| Operating Expenses (USD) | |
|---|---|
| Annual | $22,571 |
| Annual Per SF | $3.29 |
| Total Expenses (USD) | |
|---|---|
| Annual | $41,333 |
| Annual Per SF | $6.02 |
| Net Operating Income (USD) | |
|---|---|
| Annual | $99,692 |
| Annual Per SF | $14.51 |
Property Facts
| Price | $1,988,000 USD | Apartment Style | Low Rise |
| Price Per Unit | $331,333 USD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 5.01% | Building Size | 6,870 SF |
| Gross Rent Multiplier | 14.2 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1954 |
| Property Subtype | Apartment | Parking Ratio | 1.45/1,000 SF |
| Price | $1,988,000 USD |
| Price Per Unit | $331,333 USD |
| Sale Type | Investment |
| Cap Rate | 5.01% |
| Gross Rent Multiplier | 14.2 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 6,870 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1954 |
| Parking Ratio | 1.45/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Heating
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Handrails
- Vinyl Flooring
Site Amenities
- On-Site Retail
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,500 USD | - |
| 1+1 | 5 | $1,937 USD | - |
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Walk Score ®
Walker's Paradise (99)
Transit Score ®
Excellent Transit (70)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 1521-034 | Total Assessment | $259,020 USD |
| Land Assessment | $88,309 USD | Annual Taxes | $18,762 USD ($2.73 USD/SF) |
| Improvements Assessment | $170,711 USD | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
1521-034
Land Assessment
$88,309 USD
Improvements Assessment
$170,711 USD
Total Assessment
$259,020 USD
Annual Taxes
$18,762 USD ($2.73 USD/SF)
Tax Year
2023 Payable 2024
zoning
| Zoning Code | NC3 (Neighborhood Commercial) |
| NC3 (Neighborhood Commercial) |
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5947-5949 Geary Blvd
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