$2,400,000
SOLD MAY 25, 2023
-- Bed
-- Bath
8,660 Sq Ft
3,120 Sq Ft Lot

Recently Sold

$277 Per Sq Ft

20% Below List Price

120 Days on Market

Highlights

  • Corner Lot
  • 3-minute walk to Mason And Green
  • 4-minute walk to Woh Hei Yuen Park
  • Yick Wo Elementary School Rated A

About This Home

As of May 2023

SRO Hotel with 27 Rooms and 16 of them vacant. Corner commercial space is vacant as well. 1500 Powell Street/790 Vallejo Street is a Mixed-Use Residential Hotel located in San Francisco's vibrant North Beach. The building consists of 27 SROs and 2 Commercial Units. There is a full basement with 12' ceilings and a walk in fridge. Located just north of Nob Hill and Downtown San Francisco and near Chinatown and Fisherman's Wharf, North Beach is a popular tourist destination, but is equally favored by locals who appreciate its eclectic dining, lively nightlife, and diverse charm. Bus lines on nearby Stockton Street, Columbus Avenue and Union Street provide easy access to various parts of the City. This is a unique opportunity for investors to acquire a mixed-use asset with tremendous income upside potential in a great location.

Last Agent to Sell the Property

Jeff Appenrodt

Laurel Realty & Investment License #01336153 Listed on: 01/19/2023

Last Buyer's Agent

Jeff Appenrodt

Laurel Realty & Investment License #01336153 Listed on: 01/19/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $29,996

Year Built

  • Built in 1907

Lot Details

  • 3,120 Sq Ft Lot
  • Corner Lot

Home Design

  • 8,660 Sq Ft Home
  • Mixed Use

Listing and Financial Details

  • Assessor Parcel Number 0130-022

Community Details

Overview

  • 29 Units

Building Details

  • 12 Leased Units
  • 16 Vacant Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$29,996

Year Built

Built in 1907

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5 or More Units
  • Subtype Description: Apartments, Mixed Use
  • Year Built: 1907
  • Number Commercial Units: 2
  • Special Features: None
  • Stories: 0

Interior Features

  • Number Of Rooms: 27
  • Price Per Square Foot: 277.14
  • Square Footage: 8660.00

Fee Information

  • Utilities Expenses: 51729

Lot Info

  • Assessor Parcel Number: 0130-022
  • Lot Features: Corner
  • Lot Size Acres: 0.0716
  • Lot Size Sq Ft: 3120.00
  • Lot Size Units: SqFt
  • Price Per Acre: 33519553.07

Building Info

  • Number of Units Total: 29

Rental Info

  • Units Furnished: None

Multi Family

  • Number Of Units Vacant: 16
  • Gross Rent Multiplier: 6.33
  • Number of Studio Units: 27
  • Number Of Units Leased: 12
  • Number Studios Occupied: 10

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 19, 2023
Closed on
May 11, 2023
Sold by
1500 Powell Street Llc
Bought by
Vallejo Powell Sro Llc
Seller's Agent
Jeff Appenrodt
Laurel Realty & Investment
Buyer's Agent
Jeff Appenrodt
Laurel Realty & Investment
List Price
$2,995,000
Sold Price
$2,400,000
Premium/Discount to List
-$595,000
-19.87%
Views
133
Current Estimated Value
$4,201,573

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,801,573
Avg. Annual Appreciation
29.44%

Purchase Details

Listed on
May 6, 2016
Closed on
Jun 20, 2016
Sold by
Yee Paul and Yee Leslie
Bought by
1500 Powell Street Llc
Seller's Agent
Brian Leung
Compass Commercial
Buyer's Agent
Brian Leung
Compass Commercial
List Price
$3,600,000
Sold Price
$3,600,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-5.80%
Original Mortgage
$3,364,000
Interest Rate
3.48%
Mortgage Type
Construction

Purchase Details

Closed on
Jun 10, 2016
Sold by
Yee Leslie and Frank Yuen Yee & May Yee Trust
Bought by
Yee Paul and Yee Leslie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,364,000
Interest Rate
3.48%
Mortgage Type
Construction

Purchase Details

Closed on
May 4, 1995
Sold by
Yee Frank Yuen and Yee Soo Hoo May
Bought by
Yee Frank Yuen and Yee May
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $2,400,000 Chicago Title
Grant Deed $3,600,000 Old Republic Title Company
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $400,000 New Conventional
Previous Owner $1,975,000 New Conventional
Previous Owner $300,000 New Conventional
Previous Owner $2,385,000 Unknown
Previous Owner $250,000 Commercial
Previous Owner $525,000 Commercial
Previous Owner $3,364,000 Construction
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/25/2023 05/25/23 Sold $2,400,000 -7.5% $277 / Sq Ft
02/10/2023 02/10/23 Price Changed $2,595,000 -3.7% $300 / Sq Ft
02/07/2023 02/07/23 Price Changed $2,695,000 -2.0% $311 / Sq Ft
02/03/2023 02/03/23 Price Changed $2,750,000 -8.2% $318 / Sq Ft
01/19/2023 01/19/23 For Sale $2,995,000 -16.8% $346 / Sq Ft
08/11/2016 08/11/16 Sold $3,600,000 0.0% $416 / Sq Ft
05/18/2016 05/18/16 Pending -- -- --
05/06/2016 05/06/16 For Sale $3,600,000 -- $416 / Sq Ft
Source: San Francisco Association of REALTORS® MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $29,996 $2,497,460 $1,498,176 $998,784
2024 $29,996 $2,448,000 $1,468,800 $979,200
2023 $50,361 $4,015,865 $2,409,520 $1,606,345
2022 $47,436 $3,937,124 $2,362,275 $1,574,849
2021 $58,883 $3,859,926 $2,315,956 $1,543,970
2020 $47,457 $3,820,348 $2,292,209 $1,528,139
2019 $45,859 $3,746,040 $2,247,264 $1,498,776
2018 $44,274 $3,672,600 $2,203,200 $1,469,400
2017 $43,465 $3,600,600 $2,160,000 $1,440,600
2016 $3,965 $238,854 $130,543 $108,311
2015 $3,883 $235,277 $128,583 $106,694
2014 $3,789 $230,681 $126,065 $104,616
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Francisco Association of REALTORS® MLS

MLS Number: 423716554

San Francisco Association of REALTORS® MLS

APN: 0130-022