(EDITOR’S NOTE: The price per unit comes to about $457,000. The buyer and seller were not disclosed.)
SAN FRANCISCO – Colliers International, a leading global real estate services and investment management company, recently arranged the sale of a 13,132 square-foot multifamily apartment property located at 1445 Mason Street in San Francisco’s luxurious Nob Hill District. Colliers San Francisco team of multifamily investment experts, Executive Vice Presidents Brad Lagomarsino and James Devincenti and Vice President Dustin Dolby, represented the buyer and seller in this deal, which closed escrow on Jan. 21, 2020 for a total of $6,850,000.
Built in 1913 and exquisitely maintained, the property is situated at the top of the Broadway Tunnel and the entrance to the Nob Hill District. The building is comprised of 15 units, six of which have been remodeled and outfitted with GE washers and dryers, Haier refrigerators, GE dishwashers, forced air and heating and new flooring throughout. Units vary in size and are as follows; ten one-bedroom, three two-bedroom and two three- bedroom units each with one bath.
“The seller’s $1,250,000 investment in capital improvements greatly enhanced the property’s value. In particular, the three accessory dwelling units created at the lobby level proved essential in driving value for this asset.” said Dolby.
Located in close proximity to the Financial District, residents are provided with ample access to employment opportunities and various modes of transportation. The property boasts a walk score of 99 and a transit score of 100. Individuals residing at 1445 Mason Street are also surrounded by a plethora of dining, retail and entertainment options throughout Washington Square Park and on Polk Street.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.