
San Francisco, CA 94110
This Historic Mixed-Use Victorian is listed at $1,995,000, representing a stable acquisition near its $1,927,140 Fair Market Value. Notably the birthplace of OpenAI, the property boasts a Condition Rating of 2 following a high-end remodel of the 1,800+ sq ft luxury penthouse. Featuring a private deck, a leased commercial storefront, and a garden flat, the asset offers diverse revenue streams and "house-hack" potential. Proximity to top-rated schools like Lowell High School adds significant long-term value. This is an ideal opportunity for Owner-Occupants seeking a premium lifestyle or Buy-and-Hold Investors.
Property is new construction or fully renovated.
The property features a stunning, recently completed full renovation of the primary penthouse unit. The interior showcases high-end modern finishes, including a gourmet kitchen with premium stainless steel appliances, waterfall quartz countertops, and flat-panel cabinetry. The living areas boast soaring vaulted ceilings with exposed rustic beams, skylights, and wide-plank light wood flooring. All visible fixtures, electrical devices, and systems appear new or virtually new, meeting the highest current quality standards despite the building's historic 1885 Victorian shell.
Elementary School: Chinese Immersion School At Deavila (9/10). Middle School: Lilienthal (Claire) Elementary School (9/10). High School: Lowell High School (10/10).
This mixed-use Victorian offers a rare combination of a vacant luxury penthouse, a tenant-occupied residential unit, and a leased commercial storefront, providing immediate cash flow and flexible owner-user options.
Situated in the heart of the Inner Mission, the property boasts unique prestige as the original site where OpenAI was founded, coupled with high foot traffic and proximity to top-tier dining and transit.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3000, other record living area = 2472.
With one residential unit currently occupied by a tenant, immediate full-building renovation or total owner-occupancy is restricted by San Francisco's stringent tenant protection regulations.
While the property is located in a vibrant cultural hub, several of the immediate neighborhood public schools carry low performance ratings, which may be a consideration for education-focused buyers.
Notably the building where OpenAI first took shape, 2977-2979 21st Street is a rare 1885 Victorian mixed-use property in a prime Inner Mission location, offering a compelling blend of character, income, and owner-user potential. Situated near Treat and 21st, the building includes a stunning, fully remodeled two-level owner's unit delivered vacant, a tenant-occupied garden flat ready for future vision, and a leased commercial storefront with vintage curb appeal. Unit 1 (2977A) is a modern two-level penthouse spanning approximately 1,800+ sq ft with 3 bedrooms and 2 full baths. The space features soaring vaulted ceilings with exposed beams, wide-plank flooring, and an airy open layout. The top-floor primary suite opens to a private deck overlooking the garden, with potential for future roof deck access. Previously rented for $7,000 and now delivered vacant, it presents an ideal opportunity for owner-occupiers or premium rental income. Unit 2 (2977) is a charming 1-bedroom garden flat with direct outdoor access, currently tenant-occupied and offering immediate income with long-term upside through renovation. Unit 3 (2979) is an approximately 600 sq ft commercial storefront, leased and providing steady income, with strong visibility in a vibrant, high-foot-traffic corridor. This property works equally well as an investment or for buyers seeking to live in the penthouse while collecting income. Surrounded by some of San Francisco's best dining, cafes, and culture, and with easy access to transit, BART, and major commuter routes, this is a standout opportunity in one of the city's most desirable and evolving neighborhoods.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.2 mi
Grades K-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 4.0 | 1.0 | 75% |
| Square foot | 3,000 | 4,547.5 | 25% |
| Lot Size | 2,100 | 3,635.08 | 25% |
| Price | $2.00M | $2.25M | 50% |
| Price per sq ft | $665 | $517 | 75% |
| Built year | 1885 | 1895 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 6 | 249 | 25% |
Apr 16, 2026
$1,995,000
Initial Listing
Jul 29, 2013
$1,350,000
Public Record
Sep 21, 2005
$1,100,000
Public Record