$12,000,000 | 108 SRO | FINANCIAL DISTRICT
668 Clay Street
Compass Commercial is pleased to present this unique buying opportunity in San Francisco’s Financial District. Pyramid Commons is 108 Single-Room Occupancy (SRO) residential hotel rooms. The owners have subdivided this parcel, allowing these rooms to be sold separately from the commercial component of the building. This allows a new owner to step in and operate a highly-upgraded residential hotel that will provide an excellent return without the complexities of managing commercial and retail tenants in our current economy. The property’s occupancy rate is currently 53%, making this opportunity well-suited for non-profit organizations or operators that desire flexibility and control over selection of new tenants.
The owners have spent approximately $2,000,000 on capital improvements in order to make the property more attractive to prospective renters, achieve higher market rents, and deliver a turn-key asset. A partial list of improvements includes the following:
• New Interior & Exterior Paint
• Renovation of Common Areas
• Upgraded Kitchen Facilities
• Upgraded Restroom Facilities
• 50 of 108 Rooms Have Been Remodeled
• Cured Various Deferred Maintenance Issues
• Removal of Underground Oil Storage Tank
• Numerous Storefront Improvements
This property is being offered in conjunction with the adjacent 36 room SRO at 706 Kearny Street.These assets can be purchased together or separately. Please inquire with listing brokers.