2323 Franklin Street, San Francisco, CA 94123, San Francisco, 94123 - 14 bed, 0 bath
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2323 Franklin Street
San Francisco, CA 94123
ACTIVE
CONDITION: FAIR
14Beds
0Baths
6,444Sq Ft
3,600Lot Size
Property Price
LIST PRICE$4,800,000
EST. MARKET VALUE
$4,624,161
3% AboveMARKET VALUE
SUMMARY
This 6-unit apartment building represents a High-Potential Investment Opportunity, listed at $4,800,000—positioned above the $4,624,161 Fair Market Value. While priced at a premium, the asset offers significant stability in Pacific Heights, a premier rental market. Featuring ADU potential, separate PG&E meters, and no soft-story seismic requirements, the property provides a clear path to value-add through unit modernization. With a Condition Rating of 4, this is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers focused on long-term appreciation and rental income growth.
Estimated Market Value
$4,624,161
Based on Realkey algorithm analyzing recent comparable sales in San Francisco.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2323 Franklin Street Subject 14 bd · 0 ba · 6,444 sqft · $718 | $4,800,000* List Price | 14 | 0 | 6,444 | $718 | - |
A 3554 Pierce Street Pending 0 bd · 0 ba · 6,324 sqft · $711 · 0.9 mi | $4,495,000 List Price | 0 | 0 | 6,324 | $711 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1976 (48 years old), the building exceeds the 20-year threshold for 'Good'. While well-maintained and featuring two renovated units, the remaining four units and overall systems are likely dated and require modernization to meet current luxury standards in Pacific Heights.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location
Situated in Pacific Heights, one of San Francisco's most prestigious and high-demand neighborhoods, ensuring strong tenant profiles and long-term asset appreciation.
- Structural Compliance
The building is not on the San Francisco Soft Story List, sparing the owner from the significant capital expenditures and disruptions associated with mandatory seismic retrofitting.
- Value-Add Potential
The property offers clear upside through ADU potential and the opportunity to renovate the four remaining units to achieve top-of-market rental rates.
CONSRISKS & DEFICIENCIES
- Rent Control Constraints
Due to its 1976 construction, the building is subject to San Francisco rent control ordinances, which may limit immediate cash flow growth for occupied units.
- Capital Expenditure Needs
With only two of the six units renovated, a significant near-term investment is required to modernize the remaining units to meet the luxury standards of the neighborhood.
About 2323 Franklin Street
2323 Franklin Street is a beautiful well-maintained 6 unit apartment building located in Pacific Heights, one of the finest neighborhoods in San Francisco. Constructed in 1976, the building consists of two three bedrooms, two bath units and four two bedroom, two bath units some with functioning fireplaces. The units boast excellent floorplans with ample closet space and good natural light. Two of the units has been extensively renovated. There are six automobile parking spaces, along with coin operated laundry on the first level. All units have separate PG&E meters and separate heat. The building is not on the SF Soft Story List! There is ADU potential.
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1976
- Lot Size
- 3,600 Sq. Ft.
Interior
- Total Bedrooms
- 14
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 14.0 | 4.6 |
| Baths | 0.0 | 4.0 |
| Square foot | 6,444 | 3,221.149 |
| Lot Size | 3,600 | 2,766.255 |
| Price | $4.80M | $2.13M |
| Price per sq ft | $745 | $697 |
| Built year | 1976 | 1925 |
| HOA | $0 | $0 |
| Days on market | 36 | 53 |
Pricing History
Listed for Sale
Sep 18, 2026
$4,800,000
Initial Listing
Sold
Oct 4, 2016
$4,150,000
Public Record