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2976-2980 Mission St

8 Unit Apartment Building $1,875,000 ($234,375/Unit) 12% Cap Rate San Francisco, CA 94110

Investment Highlights

  • Fully entitled plans available. Approved Gross Square Feet: 11,956 Sq Ft.
  • Vibrant and Diverse Mission Location, High Walk & Transit Scores.
  • Multiple Corporate Bus Stops along Mission Street.
  • Plans for a Newly Constructed Elevator Building of 9 units: 7 - 2 Bedroom units, 1 - 1 Bedroom Unit, Bike Storage, and 1 ground floor Commercial space
  • A+ Location: Within proximity to the 24th Street BART location, walkable to SF General Hospital, as as well as amazing restaurants & shops.
  • What took the sellers 7 years to get Fully Entitled can be yours to ‘Build and Sell’ or ‘Build and Lease’ today. 

Executive Summary

The Oasis at Mission: An Opportunity to Build a 9 unit Condo and Commercial Building in a great location of San Francisco.  With +80.5k residents in the Mission Neighborhood, there is a need for New Housing and people looking for new buildings and open modern-concept living.  Fully entitled plans include a Newly Constructed Elevator Building for a total of 9 units: 7 - 2 Bedroom units, 1 - 1 Bedroom Unit, Bike Storage, and 1 ground floor Commercial space.  The median salary of those in the Mission District continues to rise above the current $166k annual salary, with an anticipated 20% growth rate, so this build matches the demographic looking for modern and efficient living within an excellent commutable neighborhood.  Approved Gross Square Feet: 11,956 Sq Ft.
Located within proximity to the 24th Street BART location, walkable to SF General Hospital, as well as the amazing Restaurants of Lolinda, Foreign Cinema, La Taqueria, and so much more.  This is an A+ location: via the 24th Street BART Station, head to Civic Center in ~15 minutes and the Financial District in ~20 minutes.  Corporate bus stops along Mission Street include those of Google, Apple, Genentech, Facebook, EA, and so many more, which allow for commuters to get to the Peninsula/South Bay.  For those needing to get to San Francisco International Airport, by BART or via Hwy 101, it's ~20 minutes.  What took the sellers 7 years to get Fully Entitled can be yours to ‘Build and Sell’ or ‘Build and Lease’ today.

Property Facts

Price $1,875,000
Price Per Unit $234,375
Sale Type Investment
Cap Rate 12%
No. Units 8
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.07 AC
Construction Status Proposed
Building Size 11,956 SF
No. Stories 4

Site Amenities

  • 24 Hour Access
  • Bicycle Storage
  • Elevator
  • Lounge
  • Public Transportation

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 1 - -
2+1 7 - -
Walk Score®
Walker's Paradise (99)
Transit Score®
Excellent Transit (86)
Bike Score®
Very Bikeable (87)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
6529-007A
Land Assessment
$532,621
Improvements Assessment
$366,914
Total Assessment
$899,535

zoning

Zoning Code NC3 (Neighborhood Commercial)
NC3 (Neighborhood Commercial)
  • Listing ID: 30852158

  • Date on Market: 2/2/2024

  • Last Updated:

  • Address: 2976-2980 Mission St, San Francisco, CA 94110

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