SOLD – $9,996,000.00
424 Ellis Street is a beautiful 64-unit apartment building located in the Tenderloin, one of the most popular rental neighborhoods in San Francisco. Constructed in 1915, the building consists of 45 Studios, 17 Efficiencies, 3 SRO’s, and 9 basement/storage areas of various sizes. The 3 SRO units share a common bath. All other units have a private bath. 9 parking spaces are located on an approximately 28 Ft. x 120 Ft. (3,360 Sq. Ft.) parking lot. There is an opportunity to develop this parking lot.
The building is fantastically located in the Tenderloin, which is in the center of much commercial and residential real estate development, and close to employers in the Tech and Internet Industries such as Uber, Twitter, Reddit, Zoosk, and Square. It is a fast improving area, although it has always been attractive to the young “edgy” set. It is in close proximity to the hot Mid-Market and Civic Center areas and many restaurants, bars and shops, including a new Trader Joe’s on Market Street. Public transportation via MUNI and BART is nearby, which gives good access to all parts of the City and the Bay Area. Freeway entrances and exits are also nearby, giving easy access to the Peninsula and East Bay.