Listed by Marcus & Millichap - Palo Alto, Marcus & Millichap - San Francisco
$5,500,000
2209 Van Ness Ave
Details
APN 0570-029
Property Type Multifamily
Sub Type Apartment Building
Square Footage 11,381
Units 18
Price per SqFt $483
Year Built 1900
Lot Size (SqFt) 6,368
Zoning Strict
Investment Type Value Add
Multifamily | 18 Units
Marketing description
Positioned on the iconic Van Ness Avenue corridor in the
upscale Pacific Heights/Russian Hill neighborhood, 2209
Van Ness Avenue commands a prominent spot in one of
San Francisco’s most desirable residential and cultural
enclaves. This area boasts a perfect Walk Score of 100,
with immediate proximity to boutique shops, upscale
dining along Polk Street, and cultural landmarks like the
San Francisco War Memorial and Performing Arts Center.
Transit options abound, including Muni bus lines (47, 49,
24), the Van Ness Muni Metro station just blocks away,
and easy access to the Golden Gate Bridge—making it
a commuter’s dream while offering serene views of the
bay and city skyline. This property includes 18 BD/ 7 BTH
with multiple kitchens, rec rooms, offices, and a laundry
room.
Investment highlights
- Value-add Potential This 18-unit Asset Offers Significant Upside Through Targeted Renovations, Such As Modernizing Units Or Upgrading Common Areas. It Is Currently Used For Student Housing In Association With The Academy Of Art University.
- Below Replacement Value With Limited New Builds The Property Is Significantly Below The Cost To Construct A Comparable 18- Unit Building In Pacific Heights. Strict Zoning And Limited New Construction In San Francisco Creates Scarcity For Other Similar Assets/ Competition.
- High-traffic Location Situated On Van Ness Avenue’s Bustling Corridor, The Property Benefits From Exceptional Visibility And Accessibility Via Muni Lines 49 And 90. Its 100/100 Walk Score, Proximity To Polk Street’s Vibrant Dining And Retail, And Nearby Alta Plaza Park Ensure Strong Tenant Demand And Retention.
Listing Contacts
Listed by Marcus & Millichap - Palo Alto, Marcus & Millichap - San Francisco
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