PROPERTY DESCRIPTION

1387-1393 Grove Street | NOPA

Property Sold

4-Unit Multifamily Building

OFFERING SUMMARY:

Address: 1387-1393 Grove Street
Sale Price:
$2,172,000
Size:
+/- 2,914 Square Feet

This 2,914 square foot building is a 4-Unit Multi-family property, located on a prime block in the hip and highly desirable NoPa (North of Panhandle) neighborhood of San Francisco. With a nod to its Edwardian roots, the building has been immaculately maintained, and each unit has been carefully updated with hardwood floors, crown molding, modern kitchens and bathrooms. Two individual garages provide secure, off-street parking. Large storage area for possible development of Additional Dwelling Units for income upside, Buyer to verify potential.

Three units will be delivered vacant. This is a perfect opportunity for a long-term investor seeking a well-maintained, turnkey property or for an owner to move into a sunny top-floor vacant unit and collect rent on the others. Ample garage and storage space, updated improvements including separate water heaters and utilities, make this a very desirable turnkey investment with significant value-add upside potential.

This hip and friendly neighborhood is easily accessible from all modes of transportation. Close to major bike and transit routes, as well as tech shuttle busses and easy freeway access. The property is within two blocks of many popular restaurants, cafes, entertainment, and retailers, including BiRite Market, Che Fico, NOPA Restaurant, Bar Crudo, The Independent music venue – and the weekly Farmer’s Market – not to mention just a few blocks to Golden Gate Park and iconic Alamo Square Park! The excellent immediate upside with potential for new leases at the current market rate.

The North of Panhandle is a trendy area with popular, highly rated bars and restaurants along Divisadero Street, its eastern border, and rising costs because of its prime central location within the city. The neighborhood’s westernmost border opens right up into Golden Gate Park providing endless opportunities for outdoor recreation and activities. Across the Panhandle, the long southern border along Fell Street provides a direct route to the freeway for residents that work outside the city or need a quick getaway.

Highlights:
  • Prime NOPA Location
  • Spacious Floor Plans
  • Immaculately Maintained
  • Ideal investment opportunity
  • 2 Car Parking + Storage

 

LISA ZAHNER
office: 415.863.1775
direct: 415.948.5747
email: lisa@urbangroupsf.com
DRE 02018164