$4,350,000 | 18 UNITS | Cow Hollow
2501 Van Ness Avenue
2501 Van Ness is a corner mixed-use property located in Cow Hollow. This highly-desirable asset consists of four commercial tenants, 13 SRO, and a two-level apartment. The SRO are operated by a master leasee who also occupies the two-level apartment. The master lease is month-to-month at a rent that is significantly below market rate and provides for excellent upside potential. There are 13 SRO’s split between two levels. Each floor has one shared toilet and shower. At street-level are four retail units with stable tenants who are all month-to month or with a short time remaining on their lease. The largest of these spaces is a convenience store along Van Ness Avenue. This space has a large basement area that is used for storage. Tenants currently pay all utilities, except for a common area PG&E account that only costs about $800/year, keeping operating expenses to a minimum. The property requires a soft-story seismic retrofit, approved plans for which are available for review. This is a unique opportunity for a new owner to drastically increase the property’s income by operating the SRO themselves or restructuring the current agreement. Residential hotels are not common in Cow Hollow, allowing this building to meet the market’s needs for basic housing in an upscale location.