Multifamily
677 Ellis Street
677 Ellis St, San Francisco, CA 94109
Listing Price: $2,475,000
Investment Overview
677 Ellis Street is a 14-unit multifamily investment opportunity located in the heart of San Francisco. Built in 1908, the property consists entirely of studio units totaling 6,486 square feet and is currently 93% occupied. In-place rents are materially below market, providing investors with a clear value-add strategy through rent growth and stabilization. The asset benefits from individually metered gas and electric utilities, helping limit operating expense exposure. Offered at $2,475,000, the property generates a current NOI of approximately $168,882 and offers the potential to achieve a pro forma NOI of approximately $251,066, positioning the asset for meaningful cash-flow and value appreciation in a supply-constrained urban market.
677 Ellis Street
Investment Highlights
- 14-unit studio property located in a dense, transit-oriented San Francisco neighborhood with long-term rental demand.
- Offered at ~$177K per unit with a 6.82% current cap rate and a projected 10.14% pro forma cap.
- In-place rents average ~26% below market, creating a clear path to increased income through lease-up and rent repositioning.
Exclusively Listed By
Listing Price: $2,475,000
Investment Highlights
- 14-unit studio property located in a dense, transit-oriented San Francisco neighborhood with long-term rental demand.
- Offered at ~$177K per unit with a 6.82% current cap rate and a projected 10.14% pro forma cap.
- In-place rents average ~26% below market, creating a clear path to increased income through lease-up and rent repositioning.
Investment Overview
677 Ellis Street is a 14-unit multifamily investment opportunity located in the heart of San Francisco. Built in 1908, the property consists entirely of studio units totaling 6,486 square feet and is currently 93% occupied. In-place rents are materially below market, providing investors with a clear value-add strategy through rent growth and stabilization. The asset benefits from individually metered gas and electric utilities, helping limit operating expense exposure. Offered at $2,475,000, the property generates a current NOI of approximately $168,882 and offers the potential to achieve a pro forma NOI of approximately $251,066, positioning the asset for meaningful cash-flow and value appreciation in a supply-constrained urban market.
Exclusively Listed By
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