1454 South Van Ness Avenue

Description

An amazing turn-key investment opportunity, 1454 South Van Ness is well-located and has been almost completely rebuilt over the last few years. 4 of the 5 units have undergone down to the studs reconstruction with designer level high-end finishes. The remodeled units function as a 6bd/4ba, 5bd/4ba, 3bd/2ba and 1bd/1ba. One unit has significant upside potential and is currently occupied by a long term tenant with the potential to be renovated into a 2bd /2ba unit at turnover. There is a luxurious view roof deck and four parking spaces at the rear of the property along Cypress Street which may offer ADU potential. All units are separately metered. The excellent rental location provides great access to shopping, nightlife, and transportation. Fully leased and offered at a very attractive CAP rate, this property is hard to beat. ASSUMABLE mortgage at 3.5% with a current balance of $3.1 million. Total return of over 8% (including principal reduction). The roof is modified bitumen and was replaced in 2019. The construction is wood frame and the exterior has stucco siding. The building is San Francisco's re-quired Soft Story Ordinance compliant.