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16-Unit Turn-Key SOMA Multifamily Opportunity 911 Bryant St

16 Unit Apartment Building $8,500,000 ($531,250/Unit) San Francisco, CA 94103

Investment Highlights

  • 16 High-End Condominium Mapped Units located in SOMA
  • Double-Height Loft Style Units on the Ground Floor
  • Latch Keyless Entry Throughout the Building
  • Luxurious Finishes Throughout Each Apartment Unit – Including Fisher & Paykel Appliances
  • Private and Secure Bike Storage Room located on the Ground Floor
  • Lobby boasts an Amazon Hub Locker for Convenience

Executive Summary

Marcus & Millichap is pleased to present the Slate Residences, a luxurious high-end apartment building located in the heart of San Francisco’s SOMA neighborhood. Consisting of 16-units, the property boasts five stories and represents an incredible opportunity for an investor to acquire a newly built condominium quality investment in a dynamic location in San Francisco. The property consists of eight one-bedroom units, seven two-bedroom units and one studio unit, private and secure bike locker room and a lobby with an Amazon Hub locker. The entire ground floor boasts double-height loftstyle units with floor to ceiling glass and private patios. High quality construction and finishes are apparent throughout the property as each unit comes with Fisher & Paykel appliances, a wine cooler, Nest Thermostat, Latch keyless entry system and a washer-dryer. On the top floor, a private rooftop deck provides incredible city views and luxurious lounging areas with custom furniture, as well as a barbecue. Slate Residences represents a unique opportunity for an investor to acquire a true “turn-key” investment completed in 2020 in a convenient and dynamic location in San Francisco.
San Francisco is recognized worldwide for its spectacular physical beauty, culture, business opportunities and professional sports teams. It also acts as the administrative, financial, cultural and services hub for the West Coast. San Francisco’s cost-of-living, however, is one of the most expensive in the nation, due in part to the tight housing market and elevated cost of goods and services. The metro also has one of the highest discretionary income levels in the U.S., as a result of the area’s educated workers and its large concentration of jobs in well-paying industries. Cultural and recreational opportunities abound, including a theater district, symphony, opera and more than 20 museums.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income $683,676 $46.24
Other Income $25,454 $1.72
Vacancy Loss $37,602 $2.54
Effective Gross Income $671,528 $45.42
Taxes $104,573 $7.07
Operating Expenses $140,871 $9.53
Total Expenses $245,444 $16.60
Net Operating Income $426,084 $28.82

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual $683,676
Annual Per SF $46.24
Other Income
Annual $25,454
Annual Per SF $1.72
Vacancy Loss
Annual $37,602
Annual Per SF $2.54
Effective Gross Income
Annual $671,528
Annual Per SF $45.42
Taxes
Annual $104,573
Annual Per SF $7.07
Operating Expenses
Annual $140,871
Annual Per SF $9.53
Total Expenses
Annual $245,444
Annual Per SF $16.60
Net Operating Income
Annual $426,084
Annual Per SF $28.82

Property Facts

Price $8,500,000
Price Per Unit $531,250
Sale Type Investment
No. Units 16
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class B
Lot Size 0.09 AC
Building Size 16,864 SF
Average Occupancy 94%
No. Stories 5
Year Built 2020

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Disposal
  • Washer/Dryer
  • Heating
  • Kitchen
  • Granite Countertops
  • Hardwood Floors
  • High Speed Internet Access
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Tub/Shower
  • Wi-Fi

Site Amenities

  • Controlled Access
  • Package Service
  • Bicycle Storage
  • Elevator
  • Online Services
  • Sundeck

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 1 - 394
1+1 8 - 538 - 625
2+1 1 - 781
2+1.5 1 - 893
2+2 2 - 914 - 940
2+2.5 3 - 983 - 1,004
Walk Score ®
Walker's Paradise (96)
Transit Score ®
Rider's Paradise (99)
Bike Score ®
Biker's Paradise (99)
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
3780-001
Land Assessment
$2,509,914 (2023)
Improvements Assessment
$9,145,252 (2023)
Total Assessment
$11,655,166 (2023)
Annual Taxes
$104,573 ($6.20/SF)
Tax Year
2024

zoning

Zoning Code UMU (Urban Mixed Use)
UMU (Urban Mixed Use)
  • Listing ID: 32392968

  • Date on Market: 7/9/2024

  • Last Updated:

  • Address: 911 Bryant St, San Francisco, CA 94103

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