Marcus & Millichap Sells 28-Unit Multifamily Property In San Francisco For $6.65M

A 28-unit multifamily property located at 1275-1281 8th Avenue in San Francisco, CA has been sold for $6,650,000. The property spans 17,500 square feet and sits on 0.27 acres, equating to a price per square foot of $380 and a price per unit of $237,500. The asset was built in 1926 and is situated in San Francisco’s Inner Sunset neighborhood, close to Golden Gate Park and UCSF.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,650,000
• Square Footage: 17,500
• Units: 28
• Price per Square Foot: $380
• Price per Unit: $237,500
• Acreage: 0.27
• Price per Acre: $24,629,630

Marcus & Millichap represented a private family trust in this transaction, facilitating the sale on behalf of the trust. The property was acquired by a local value-add investor with plans for a full rehabilitation of all units following the property's fire damage.