FOR SALE · 7-UNIT MIXED-USE · CASTRO
2264 Market Street
Castro · Duboce Triangle · San Francisco, CA 94114
OFFERED AT
$2,995,000
$2,995,000
LIST PRICE
$427,857
PRICE / UNIT
7
UNITS
$306.61
PRICE / SF
6.92%
CAP RATE
$311,431
GROSS INCOME
9.62
GRM
$207,284
NOI (CURRENT)
PROPERTY OVERVIEW
Seven units in the heart of the Castro.
2264 Market Street is a 7-unit mixed-use building one and a half blocks from historic Castro and Market. Built in 1905, the four-story building offers six large two/three-bedroom flats over a ground-floor commercial space, with south-facing city views, private rear decks, and a large shared backyard patio.
Offered at $2,995,000 ($427,857 per unit), the property generates $311,431 in gross potential rent, a 9.62 GRM and 6.92% cap rate on current income. The newly vacant two/three-bedroom, two-bath flat on the first floor has been held in reserve and is delivered vacant, and the commercial unit was recently leased at market rent on a five-year term with a five-year option to renew.
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Up the front steps is access to the six residential flats. The ground-floor commercial unit has the only parking in the building, with direct access to the rear shared patio.
Recent capital improvements to the building include a seismic upgrade in 2015 ($60,000) and a fire alarm upgrade in 2026.
The building is ideally located just one and a half blocks from historic Castro and Market, a few steps from Whole Foods Market, and an easy walk to trendsetting cafes and restaurants, chic boutiques, and entertainment along world-renowned Market Street. Popular neighborhood spots include Duboce Park, Corona Heights Park, L'Ardoise Bistro, Le Marais Bakery, Starbelly, and Blind Butcher, with the Lower Haight and the Mission close by.
Commuting is easy to both downtown and the freeways, with ample transit and bike share, including the Church Street and Castro Street Muni Metro stations a block and a half in either direction.
Jonas Judd
Investment Sales · CalDRE# 01887356
(415) 714-4722
jonas@baypropertygroup.com
Bay Property Group
INVESTMENT HIGHLIGHTS
Why this building
Immediate lease-up upside
First-floor 2/3 BR, 2 BA flat delivered vacant with patio access, ideal for an owner-occupant or a lease at today's pro forma rent.
Private outdoor space
Every flat has its own rear deck, plus a large shared backyard patio and south-facing city views.
New commercial lease
Ground-floor unit leased at market rent on a 5-year term plus 5-year option, with the building's only parking.
Long-term investment upside
Same family for nearly 40 years, with the same property manager maintaining the building for the past 12.
Large, livable flats
Six 2/3 BR flats with hardwood floors and original details; two with newly updated kitchens, baths, and flooring.
Walker's Paradise
Walk Score 99 and Transit Score 92, between the Church Street and Castro Street Muni Metro stations. Blocks from Duboce Park.
PROPERTY DETAILS
Building at a glance
Property Type
Neighborhood
Total Units
Year Built
Building SF
Lot Size
Stories
Mixed-Use: 6 Flats + 1 Commercial
Castro · Duboce Triangle
7
1905
9,768
4,140 SF
4
Zoning
Parking
APN
Delivered Vacant
Commercial Lease
Laundry
Management
R-2/B
1 car (with commercial unit)
3560-011
2268A · 2/3 BR, 2 BA flat
5-year term + 5-year option
Commercial unit only
Bay Property Group
Schedule Consultation
Have an additional Question?
These guides are a starting point but they are not a substitute for advice tailored to your situation. If you have a more specific question, Jonas Judd is here to help.
Phone or SMS text:
+1 (415) 714-4722