423 South Van Ness Avenue, San Francisco, CA 94103

423 South Van Ness Avenue is a six-unit, mixed-use Victorian at the crossroads of San Francisco, where the Mission, SoMa, and Civic Center submarkets converge along the South Van Ness / Mission / Folsom corridor. Three large three-bedroom residential flats sit above three ground-floor commercial suites — pairing durable, contractually locked income with meaningful residential upside in one of the city's most central, dynamic locations. Tenants are one block from 16th Street Mission BART and steps from Highway 101, with Dolores Park, the Valencia retail and dining corridor, Whole Foods, Safeway, and a dense cluster of acclaimed coffee and restaurants all within walking distance. The building also anchors a premier innovation district, surrounded by the offices of leading AI research labs including OpenAI and Anthropic, plus Salesforce, Google, and KPMG — sustained high-wage employment driving demand across the corridor.

Income is anchored by three long-term commercial tenants on a roughly six-year weighted-average term, with the principal anchor secured through March 2036 — about $1.1M of committed commercial rent remaining at in-place rates. Beneath that stability, the residential flats carry substantial upside, with in-place rents roughly 55% below market and a clear path to a pro forma cap rate above 10%.