What is the asking price for 423 South Van Ness Avenue?

The lease rate for space here is Contact for pricing.

What is the total size of 423 South Van Ness Avenue?

The property has a total square footage of 10,568 SF.

How many parking spaces are available at 423 South Van Ness Avenue?

Parking information for the property isn't currently listed. However, other nearby parking options include Hoff Street Garage, located 0.24 miles away , and Zenanli Parking, which is 0.27 miles away.

423 South Van Ness Avenue, San Francisco, CA 94103

For Sale $3,725,000
Property Type Multi-Family
Property Size 10,568 SF
Units 6
Date Updated Jun 22, 2026

Description

Discover the vibrant neighborhood surrounding the property at 423 South Van Ness Avenue, San Francisco, CA, 94103. Located in the heart of the city, this sought-after area boasts a multitude of nearby attractions and amenities, perfect for prospective Multifamily/High-Rise investors. Enjoy easy access to renowned dining and shopping destinations, including the historic Mission District and bustling Market Street. As a hub for technology and innovation, the location offers close proximity to major employers and educational institutions, creating an attractive environment for potential tenants or residents. With its rich cultural scene and convenient transportation options, this dynamic neighborhood presents an exceptional investment opportunity in the heart of San Francisco.423 South Van Ness Avenue is a six-unit, mixed-use Victorian offered at a 6.02% cap rate. Three exceptionally large three-bedroom residential flats, averaging roughly 1,746 square feet each, sit above three generously sized ground-floor commercial suites averaging about 1,710 square feet, pairing durable, contractually locked commercial income with meaningful residential upside in one of the city's most central, dynamic locations. The property sits at the crossroads of San Francisco, where the Mission, SoMa, and Civic Center submarkets converge along the South Van Ness / Mission / Folsom corridor. Tenants are blocks from 16th Street Mission BART and steps from Highway 101, with Dolores Park, the Valencia retail and dining corridor, Whole Foods, Safeway, and a dense cluster of acclaimed coffee and restaurants all within walking distance. The building also anchors a premier innovation district, surrounded by the offices of leading AI research labs, including OpenAI and Anthropic, plus Salesforce and Google all sustaining the high-wage employment that drives demand across San Francisco.

Highlights

$1.1M committed commercial rent remaining at in-place rates
6-unit mixed-use Victorian — three 3BR residential flats over three ground-floor commercial suites; 9,280 SF
AI/tech innovation hub — steps from OpenAI, Anthropic, Salesforce, Google, and KPMG driving high-wage demand
Below replacement cost — $409/SF for a stabilized, income-producing mixed-use building in central SF
Best-in-class walkability — Dolores Park, the Valencia corridor, Whole Foods, Safeway, Four Barrel, Blue Bottle, on-site Flying Pig Bistro
Diversified income — durable commercial base layered under upside-heavy residential reduces single-tenant risk
Locked-in commercial income — ~6-yr weighted-average lease term; anchor secured through March 2036
Major residential upside — in-place rents ~51% below market across three 3BR flats
NNN-style commercial reimbursements (~$25K/yr) offset owner operating expenses
Prime crossroads location — South Van Ness / Mission / Folsom; one block to 16th St BART, immediate 101 & Central Freeway access
Scarcity — six-unit mixed-use product in the Mission rarely trades, especially with long-term commercial anchors in place
Staggered commercial rollover — 2028 / 2031 / 2036 expirations smooth re-leasing risk and create periodic mark-to-market resets
Strong forward economics — 6.01% cap expanding to ~9.70% pro forma; GRM 12.77 ? 8.44
Transit-rich, car-optional — 16th St BART, multiple Muni lines, and freeway access in one location
Value-add through turnover — legacy residential leases (1996 & 2003) reset to market on natural vacancy