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$6,500,000 | 16 UNITS | TELEGRAPH HILL

Just Listed

1653 Grant Avenue






Cap Rate


Price per Square Feet

1653 Grant Avenue is 16 unit corner building in San Francisco’s storied Telegraph Hill neighborhood. This prime location is situated on a quiet corner of Telegraph Hill, but is mere blocks away from all the best North Beach has to offer. The property is a mix of 10 two-bedroom and 5 one-bedroom apartments. Eight of the two-bedrooms on Greenwich Street are Romeo-style units with rear porches. The sixteenth unit is the corner commercial space. Several of the units have Golden Gate Bridge and Bay Views. The building is detached on all sides, so most units receive great natural light. Rarely will you find a more efficient property with regard to operating expenses as there are separate meters for water, gas, and electricity, each unit has a separate water heater, and tenants pay a pro-rata share of the garbage bill as well. There is a large basement that may allow for the addition of rentable storage space, or may be useful to a new owner. This asset has experienced a healthy amount of turnover, which should allow for a new owner to keep pace with market rents. The softstory retrofit was completed in 2021. The building is compliant with the “Sleep Alarm” ordinance. This is a
turn-key asset in one of San Francisco’s most desirable locations. Priced to sell at an 11.3 GRM and 6.2% Cap Rate.

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