677 Ellis Street, San Francisco, CA 94109

Located at 677 Ellis Street in the heart of San Francisco, this multifamily asset presents a compelling investment opportunity for both local and out-of-area investors. Built in 1908, the property consists of fourteen studio units situated on a 0.05-acre lot with a total gross building area of 6,486 square feet.

The property features a uniform unit mix comprised entirely of studio apartments averaging approximately 463 square feet each. The asset is currently 93% occupied, with one vacant unit providing immediate lease-up upside. Current in-place rents average approximately $1,599 per month, representing an estimated 26% discount to the projected market rent of $2,150 per month. This significant mark-to-market opportunity allows an investor to increase cash flow through strategic rent repositioning over time. The property also benefits from individually metered gas and electric utilities, helping minimize landlord exposure to utility cost fluctuations.