$2,450,000 | 9 UNITS | SOMA
Just Listed
1040-1042 Howard Street
9
Units
11.1
GRM
6.0%
Cap Rate
6,540
Square Feet
1040 Howard Street is a nine-unit mixed-use property located on a strong block in SOMA. This turn-key asset has been professionally managed and well-maintained, offering an excellent investment opportunity. The property consists of four one-bedroom units, four studios, and a large ground-floor commercial space.
The commercial space will be delivered vacant and occupies the entire ground floor of the building. It features a large open area upon entry, a full kitchen, in-unit laundry, and three additional rooms that could serve as private offices. Alternatively, a new owner may explore the potential to convert the space to a residential unit, for which the layout is well-suited.
Most of the residential units have been tastefully updated in recent years. Improvements include tile kitchen floors, stone countertops, LVT flooring, and select newer windows. Common areas are well-maintained.
The main electrical indicates 400 amps of service, and all units are separately metered for gas and electricity. It is flanked on both sides by a nonprofit that provides a positive and stabilizing presence on the block.