Portfolio of Four San Francisco Multifamily Properties Changes Hands for $84MM

Colliers International, San Francisco, Pacific Heights, Nob Hill, 1935 FranklinStreet, 150 Franklin, 1920 Pacific Street, 1474 Sacramento
1935 Franklin Street. Image Courtesy of Colliers International

SAN FRANCISCO  – Colliers International recently facilitated the sale of four multi- family properties totaling nearly $84 million in the San Francisco neighborhoods of Pacific Heights and Nob Hill. Each property offered distinct and storied characteristics in the highly desirable areas. Colliers Executive Vice Presidents and partners, James Devincenti and Brad Lagomarsino, facilitated the four sales all within the start of 2020.

Selling for $33,200,000, the property located at 1935 Franklin Street sits in the prime area of Pacific Heights, and offers stunning hilltop views of San Francisco Bay and the Golden Gate Bridge. The building offers studios, one-and-two bedroom apartments that range from 600-1,168 square feet and include modern amenities such as hardwood floors and large closet spaces.

Minutes away, the property at 150 Franklin sold for $14,400,412.50. The apartment building sits on 23,550 square feet and features 39 units. Built in 1912, the property is situated near the Hayes Valley stores and restaurants and provides easy access to public transportation.

“It was a pleasure working with the sellers and the buyers in the sale of 150 Franklin Street,” said Lagomarsino. “For the buyers, this purchase allowed them to expand their existing portfolio into the trendy Hayes Valley district of San Francisco. For the sellers, this sale allowed them to redeploy their equity into Industrial properties in the North Bay, which provided them with more cash flow than they were currently receiving. It was a win-win transaction all the way around for both parties.”

Located about a quarter mile away from the Franklin properties, the building located at 1920 Pacific Street in the Pacific Heights neighborhood sold for $9,450,000. Perched just two blocks from Lafayette Park and walking distance to Union Street and Fillmore Street, the area offers residents high-end boutique shopping and upscale dining options. The property features hardwood floors throughout, large balconies and contemporary renovations along with parking.

1474 Sacramento Street sold for $26,400,00 and stands beautifully maintained Edwardian building in the historic district of Nob Hill. The units feature high ceilings and numerous windows offer plenty of natural light, showcasing beautiful wood paneling and molding in the kitchens and dining rooms. Recent upgrades include new carpet and common area fixtures. The property is walking distance to trendy boutiques, restaurants, bars and fitness studios on Polk Street and North Beach Muni and easily accessible to cable cars with lines to the Financial District, Union Square, Russian Hill and North Beach.

“It was a true pleasure working on behalf of our clients in some of the world’s most sought-after neighborhoods,” said Devincenti. “Pacific Heights, known for its posh residential enclave and architecturally stunning homes gave us the chance to showcase our expertise in this ultra-high-end market. Nob Hill and it’s historic ties along with its high demand allowed us to leverage our relationships to get the best results for our clients.” 

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.

West Coast Commercial Real Estate News