1900 Jefferson St
San Francisco, CA 94123
Multifamily Property For Sale · 15 Units

1900 JEFFERSON STREET is located in the Marina District of San Francisco. The subject property is on the northwest corner of Jefferson and Divisadero Streets. The neighborhood is noted for its demographics, which since the 1980’s have shifted from mostly middle class families and pensioners, to professionals in their twenties and thirties. The younger professionals now make up the majority of the population in the district. The neighborhood sits on the site of the 1915 Panama-Pacific International exposition which was staged to celebrate the reemergence of San Francisco. Neighborhood attractions like the Palace of Fine Arts, the Marina Green, Fort Mason, abundant recreational areas, and open space with beautiful San Francisco views draw visitors from around the world. Chestnut Street is another main attraction for locals and travelers from around the world. Stretching from Fillmore Street down to Divisadero Street, Chestnut is lined with a collection of stores to shop, as well as restaurants, bakeries, coffee shops, and bars to visit. This classic “Marina Style” property was built in 1930 and is a wood frame stucco structure with a concrete foundation that has been seismically retrofitted and is soft story compliant. The building has all the original architecture that make this style of building so attractive to investors and renters. Architectural features include large rooms, crown molding, arched ceilings, parquet floors, large walk in closets, separate tubs and shower stalls, and art deco tile. The property consists of three 3-room units (1bdrm/1ba), twelve 4-room units (1bdrms/1ba), twelve parking spaces, laundry, decks, and storage. The building is master metered for gas which provides for the steam heat system and the hot water. Each unit is separately metered for electricity and all kitchens have electric appliances. The units are bright and spacious with good floor plans and abundant closet space. Bathrooms are in original condition with art deco tile floors and surrounds including bathtubs and separate shower stalls. The roof was replaced in 2004 and is a flat modified bitumen material. A beautiful roof deck with 360 degree views is accessible for all residents. This is the first time the property will be sold in fifty years. The property is owned free and clear with a low tax basis. The property should qualify for an operating and maintenance pass through and capital improvements costs can also be passed through. Additionally, there is potential to add additional units to the property. This offering provides immediate add value potential with long term future rent upside in a premier location.