731-749 Polk St, San Francisco, CA 94109

The Columbia Apartments, 731-749 Polk Street, is a 62-unit mixed-use building located in the Van Ness/Civic Center district of San Francisco. The property, at the corner of Polk and Ellis Streets, is a short walking distance to many Civic Center attractions such as City Hall, the Opera House, and Davies Symphony Hall. Transportation options are excellent with BART and Muni Metro stations blocks away in addition to multiple Muni bus line services. This four-story corner, 33,958 square foot building was built in 1908 and is tilt-up (pre-cast construction) per city records. The parcel number is 0739- 001 and the zoning in NC3. The steam heat is provided by a new boiler (2023) and there is an elevator. The attractive lobby area includes new mailboxes, security cameras and front gate. In addition, there are four, coin-operated washer/dryers. The unit mix consists of 31 studios, 8 one-bedrooms, 1 two-bedroom units plus 14 single room units. In addition, there are 8 retail units consisting of shops such as a bakery, barber, and grocery store. The Columbia Apartments represents an opportunity to acquire a stabilized asset at a 10.15% cap rate, 5.32 GRM, $85,484/unit and $156/square foot with considerable rental upside.