842 California
Land | 0.15 acres
Marketing description
On behalf of Ownership, Marcus and Millichap is pleased to present the exclusive opportunity to acquire 842 - 860 California Street, a fully entitled, shovel-ready development site located in the heart of San Francisco's iconic Nob Hill neighborhood. This 33-unit luxury condominium project represents a rare chance to develop a mid-rise residential landmark in a submarket defined by extreme barriers to entry and a historical lack of new supply.
Designed by the award-winning firm Cass Calder Smith, the project proposes a 9-story, ~47,000 square foot building that thoughtfully bridges the gap between historic Nob Hill elegance and modern luxury.
Utilizing the State Density Bonus, the development maximizes its footprint to offer a diverse mix of 33 residences—ranging from efficient studios to expansive three-bedroom penthouse floor plans—complemented by a sophisticated amenity suite and a sprawling rooftop terrace with panoramic city views.
Situated on the world-famous California Street cable car line, the property sits at the epicenter of San Francisco's most prestigious residential enclave. Future residents will be steps away from the Grace Cathedral, Huntington Park, and the city's most storied hotels, while enjoying immediate access to the burgeoning AI and technology hubs of the Financial District and SOMA.
Investment highlights
- FULLY ENTITLED - Delivered with approved entitlements and a streamlined path to construction, significantly de-risking the development timeline.
- OPTIMAL UNIT MIX - A curated blend of 4 Studios, 14 - 1BR, 11 - 2BR, and 4 - 3BR units catering to a wide demographic of urban professionals and downsizing locals.
- EFFICIENT DESIGN - High net-to-gross efficiency with premium finishes and a dedicated below-grade parking garage for 9 vehicles.
- SAN FRANCISCO RECOVERY - Capitalize on the city's '2.0' growth cycle, driven by the AI industry's massive footprint in the downtown core.
- PRIME LOCATION - Situated in Nob Hill, steps from Huntington Park, Grace Cathedral, and the Fairmont Hotel.
- RARE FOR-SALE ASSET - New, small-lot high-end inventory is incredibly scarce in this immediate neighborhood (only 13 new units added to the neighborhood in 2024).
- ARCHITECTURAL SIGNIFICANCE - Designed by renowned Cass Calder Smith bringing the luxury project to life.
- DENSITY BONUS UTILIZATION - The project uses SB 330/State Density Bonus laws to maximize building height and unit count.
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