285 Turk Street is a classic 42-unit apartment building constructed in 1923. The building is approximately 24,370 square feet nicely situated on the corner of Turk and Leavenworth Streets in the Tenderloin neighborhood of San Francisco. It consists of 11 Junior One Bedrooms, 29 studios and 2 retail spaces. Some studio units have a possibility for conversion to junior one bedrooms. There have been extensive upgrades made to 17 of the units. There has also been extensive renovation of interior common areas and the exterior to restore the building to its original era classic beauty. There have been upgrades made to many of the systems. New security cameras were installed throughout. The elevator door was replaced February 2020. Seller indicates that recent improvements exceed $1,200,000. This greatly improved property provides the opportunity to acquire an extensively upgraded & well-maintained building in the Tenderloin with upside in rents.
|Style||Multi-Family (Over 20 Units)|
|Building Size||24,370 SF|
|Lot Size||4743 SF|
|Available Date||Sep 1st, 2020|
• 40 Apartment Units • 2 Retail Units • 11 Junior One Bedroom Units • 29 Studio Units • Wooden veneer cabinets • Granite/Quartz Counter Tops (Updated) • Carpeting or Vinyl Tile/Sheet Flooring • Gas Stoves/Ovens • Stainless Steel Sinks & Refrigerators (Updated) • Shower Over Tub Combinations • Mirrored Cabinets • Laundry Room (3 Leased Washers & 3 Leased Dryers) • Separately Metered for Gas & Electricity • Concrete and Steel Reinforced Construction • Owner Provides Steam Heat • Over $1,200,000 of Recent Capital Improvements**Area Description
Area Description: The building is excellently located in the Tenderloin, just one block from the Golden Gate Theater and The Warfield - a historical downtown music venue. The property is in the center of much commercial and residential real estate development, and close to employers in the Tech and Internet industries such as Uber, Twitter, Reddit, Zoosk, Yelp, and Square. It is near the new Sutter Health Medical Center and Hastings Law School. The Tenderloin is a fast improving area, although it has always been attractive to the young "edgy" set. It is in close proximity to the hot Mid- Market and Civic Center areas, as well as Union Square and the Financial District. There are many nearby restaurants, bars and shops, including Brenda's French Soul Food, Rich Table and Plaj Restaurant. Public transportation via Muni and BART is nearby, which gives good access to all parts of the City and the Bay Area. Freeway entrances and exits are also nearby, giving easy access to the Peninsula and East Bay.