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Listed by Dominic Morbidelli Maven Commercial, Inc.
$9,950,000
Est. payment /mo
4 Beds
6 Baths
1,384 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 1,384 sqft
Price per Sqft $7,189
MLS Listing ID 426153530
Bedrooms 4
Full Baths 2
HOA Fees $6,263/mo
HOA Y/N Yes
Year Built 1996
Lot Size 0.495 Acres
Acres 0.4947
Property Sub-Type Condominium
Property Description
Masterfully designed by world-renowned designer Ken Fulk, 387 Tehama combines 7 live/work condo units into one one-of-a-kind 11,800 SF property, now offered as a 100% leased NNN investment at a 7.35% cap rate with potential for future owner-user occupancy. The space comfortably hosts a tech team of 60 or a cocktail event for 150. Soaring sawtooth ceilings and a wall of windows flood the space in natural light, with custom furnishings throughout. Fully leased to MTS Live on a new NNN lease at $62.00/SF ($731,600/yr) with 3% annual increases, expiring January 2030. With no renewal options, the lease offers strong in-place income today and a clear path for an owner-user to occupy the building in the future. FF&E included; landlord retains ownership. Features 4 conference rooms, 4 meeting rooms/bedrooms, 2 full & 3 half baths, elevator access, 36 workstations, a wet bar, two kitchens, an IT room, and a secure garage with 6 exclusive parking spaces. Zoned C-3-S with live/work. Steps to Downtown, Union Square, BART/MUNI, and direct freeway access via 5th Street. Few SF properties offer this design pedigree, in-place income, and flexibility. Buyer to independently confirm zoning/use. Tenant occupied; showings by appointment only, do not disturb tenant.
Location
State CA
County San Francisco
Area Sf District 9
Interior
Fireplace No
Exterior
Total Parking Spaces 6
Private Pool false
Building
Story 4
Level or Stories Three Or More
New Construction Yes
Others
Tax ID 3733115
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