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388 5th Street

388 5th Street is a 12-unit apartment building in SoMa, uniquely exempt from San Francisco rent control due to a substantial rehabilitation completed in 1989—allowing rents to be raised without the city’s usual restrictions. The property includes six three-bedroom units and six two-bedroom units, all with functional layouts ideal for roommates or families.

The building is very well maintained, with separate gas and electric meters for each unit, individual water heaters, and a soft-story seismic retrofit completed in 2018. These features keep operating costs exceptionally low.

Located minutes from downtown, the freeway, and numerous neighborhood amenities, this is a rare chance to acquire a stable asset with true rent-setting flexibility. The property sold for $3,200,000.