Held under the same family ownership for nearly 50 years, 37-41 John St. is a well-maintained 1909 apartment building located at the intersection of North Beach, Chinatown, and Nob Hill. Offered at $1,850,000, this 7 unit property is priced at approximately $264,000 per unit, presenting a rare entry point for San Francisco multifamily investors. The property features five tenant-occupied units and two vacant units, creating immediate leasing and value-add opportunities. The unit mix consists primarily of one-bedroom, one-bath layouts, several of which have been remodeled or updated. Major capital improvements have already been completed, including a soft-story seismic retrofit in 2022, full exterior repainting in 2024, and approximately $40,800 in interior renovations in 2025. At current rents, the property generates approximately $64,600 in annual NOI. At projected stabilized rents, the property is projected to achieve a 10.60% cap rate, 8.11 GRM, and approximately $225,579 in annual gross income. With Walk Score and Transit Score ratings of 100, residents enjoy immediate access to MUNI, cable cars, world-class dining, neighborhood retail, and major employment centers. Full offering memorandum, rent roll, income and expense statements, and disclosures available upon request. Buyer to independently verify all property information.
