700 39th Avenue

Outer Richmond
Property Highlights: SOLD

What this property offers

Selling Price: $8,900,000
Size: +/- 17,875 Sq. Ft.
Building Size: 17,875 Square Feet
Lot Size: 5,500 Square Feet
Price Per Square Foot: $498
Cap Rate: 3.15%
Gross Rent Multiplier: 20.35
Zoning: NC-2 Year Built: 1988

Urban Group Real Estate is pleased to have exclusively represented the Seller in the sale of 700 39th Avenue, a 14-unit mixed-use building. Set in San Francisco’s Richmond district, this property features 7 market-rate residential apartments (two 3 bedroom / 2 bath and five 2 bedroom/ 2 bath) plus 3 retail spaces and 4 offices. Each floor plan is unique with varying views of the cityscape, neighborhood, and hills, some with private balconies and with 7 parking spaces provided.

Running along the entire northern edge of Golden Gate Park, from the Panhandle to the Pacific, The Richmond Districts are vast San Francisco neighborhoods encompassing many types of homes, commercial areas, and attractions. One thing that remains the same throughout: the cool fogs that blow in off the Pacific and the smell of eucalyptus emanating from the park. This neighborhood is wonderfully diverse, with many second and third-generation families from Asia and Europe. It’s not rare to see a Korean business next door to a Russian one, across the street from an Irish pub. Clement Street in particular is becoming increasingly popular with the hipster crowd, with its vibrant mix of ethnic dining, pubs, and karaoke bars.

Golden Gate Park affords many unique recreational opportunities, with archery and polo fields, fly fishing ponds and dog runs, beautiful hiking paths, and seasonal outdoor concerts. A small herd of buffalo is kept on the grounds as well, to give your out-of-town visitors an unexpected surprise. Lincoln Park is just northwest of the neighborhood, featuring a golf course and the Legion of Honor. Venture all the way to Ocean Beach to explore the Sutro Baths and Cliff House, which former mayor Adolph Sutro built along with a streetcar line to zip working-class San Franciscans out to enjoy the same recreational pursuits as the upper classes. The streetcar he built is long gone, but buses still serve the entire neighborhood, and many stretches are flat enough for cyclists and pedestrians to enjoy.