
San Francisco, CA 94102
Analysis of 515 Ofarrell ST, San Francisco, CA 94102 is currently available with a list price of $7,000,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the San Francisco Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
The property is a 1926 concrete building that appears structurally sound and has received essential capital improvements like a new roof coating and furnace upgrades. However, the lobby, stairwells, and common areas exhibit significant age-related wear and dated fixtures. While the commercial space and laundromat show some modernization, the residential units likely require updates to kitchens and bathrooms given the 48-year ownership history and the vintage nature of the visible interior infrastructure.
Situated in the heart of San Francisco near Union Square, the property boasts exceptional transit accessibility via BART, cable cars, and MUNI, ensuring consistently high rental demand.
As a concrete building exempt from San Francisco's mandatory soft-story retrofit program, it offers significant long-term savings on capital expenditures and structural upgrades.
The asset features 45 residential units complemented by a ground-floor commercial laundromat and rare urban amenities, including a panoramic roof deck and seven on-site parking spaces.
Originally constructed in 1926, the property may require ongoing capital investment to modernize aging systems and utilities beyond the recent roof and furnace improvements.
With the residential component consisting entirely of studio apartments, the property is susceptible to higher turnover rates and a more limited tenant demographic.
Significant Price Reduction! First time on the market in 49 years, this 46-unit mixed-use flagship trophy asset offers an outstanding investment opportunity in San Francisco's core corridor. Delivering an 8.37% actual in-place cap rate, the property is offered at approximately $152,174 per unit and $270 per square foot, well below estimated replacement cost. The 100% occupied asset consists of 45 studio apartments, one ground-floor commercial space, and seven garage spaces. The high-rise fire sprinkler upgrade is approximately 90% complete, with the balance to be completed prior to close of escrow. Additional value includes approximately $190,000 in annual rental upside, $46,947 in documented banked rent increases, Fannie Mae and Freddie Mac approved, no mandatory soft-story retrofit, located within a Federal New Markets Tax Credit (NMTC) Census Tract. Ideally situated near Union Square, Powell BART/MUNI, and major hotels. Offering Memorandum available upon request.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.8 |
| Baths | 0.0 | 4.0 |
| Square foot | 25,896 | 3,171.882 |
| Lot Size | 4,534 | 2,678.029 |
| Price | $7.00M | $2.08M |
| Price per sq ft | $270 | $709 |
| Built year | 1926 | 1925 |
| HOA | $0 | $0 |
| Days on market | 169 | 66 |
Aug 3, 2026
$7,000,000
$10,500,000
-33% Price Drop
Initial Listing
Mar 24, 2026
$10,500,000
Initial Listing