Listed by Compass, Ismael Benhamida, Hanna John Azar Listing Contact: 408-373-6195
Hanna John Azar
1524-1526 Irving Street
$2,000,000
1524-1526 Irving ST, San Francisco, CA 94122
Wonderful two-unit mixed-use property in the Inner Sunset. Pride of ownership location, the property is 1 block to Golden Gate Park, and 1 mile to UCSF. The ground floor is occupied by a Japanese restaurant, which has been at this location for 50+ years. The second floor is a massive 3-bedroom/2-bathroom unit that is currently occupied collecting $5,470 a month, and benefits from an exemption of San Francisco's Rent Ordinance increase limitations. The residential flat was recently renovated and includes a living room, dining room, and a spacious family room that leads onto a large, outdoor patio. The restaurant has a new 5-year lease that began August 2022. Rent for the restaurant is $7,693 per month, and can be increased annually per the local consumer price index. Great cap rate of 6.01% and GRM of 12.63. 1524 Irving Street represents a pride of ownership asset for investors seeking reliable monthly income, long-term tenant stability, and appreciating value in one of San Francisco's most resilient neighborhoods.
Appliances: Cooktop Gas, Dishwasher, Exhaust Fan, Microwave, Oven Range Gas
Other Interior Features: High Ceiling, Vaulted Ceiling
Exterior & Building
Stories: 2
Water Source: Public
Utilities: Water Public, Individual Electric Meters, Individual Gas Meters
Roof: Composition, Flat
Parking: On Street
Heat Type: Fireplace, Floor Furnace, Gas
Air Conditioning: None
Sewer: Public Sewer
Substructure: Slab
Disability Features: None
Financial
Sales Price: $2,000,000
Real Estate Tax: $24,325/yr
Zoning: NC2
1524-1526 Irving Street
Work With Hanna John
During his past experiences, Hanna John has gained particularly strong knowledge and hands-on experience in maneuvering complex multi-faceted value-add investments.