Description

Pegasus Investments Real Estate Advisory Inc., serving as the exclusive investment sales advisor, is pleased to present 2801-2825 California Street in San Francisco, California. Located at the vibrant southwest corner of California and Divisadero Street in the prestigious Lower Pacific Heights neighborhood, the property is just blocks from the Fillmore Street corridor, known for its upscale boutiques, trendy cafés, and gourmet restaurants. The property is a three-story, plus partial basement, mixed-use building totaling approximately 15,190 square feet on a high-visibility corner, with 110 feet of frontage on California Street and over 52 feet on Divisadero Street. It comprises four ground-floor retail spaces and 16 residential units (eight studios and eight one-bedroom units) on the upper floors, totaling approximately 9,720 square feet of residential space and 5,470 square feet of retail. Three retail spaces are leased to a prestigious restaurant group that operates the James Beard Award-winning b. Patisserie café and the Michelin Guide-recognized Routier, with significant capital invested since 2012, reflecting long-term tenant commitment. All commercial leases are currently on a gross basis, providing new ownership the opportunity to convert them to net leases, enhancing net operating income (NOI). Professionally managed and family-owned for over 36 years, the property features individually metered gas and electric for all units. Recent capital improvements include updates to the roof, plumbing, residential heating system, and a new security system. Historically, the property has maintained extremely low vacancy rates, with commercial tenants investing heavily in their spaces. Situated in a highly coveted San Francisco location with easy access to scenic parks, cultural attractions, and downtown, 2801-2825 California Street offers investors a rare opportunity to acquire a fully stabilized, mixed-use asset in a market with high barriers to entry and enduring appeal.