DEAL OF THE DAY: Multifamily Investor Buys 48-Unit Property for $4.53M
July 17, 2008
By Anuradha Kher, Online News EditorSan Francisco–John E. Wai, a multifamily investor, purchased the 48-unit apartment building at 245 Leavenworth St. in downtown San Francisco for $4.53 million, or approximately $94,000 per unit, at a 7.04 percent cap rate.The six-story, 28,728-sq.-ft. building was built in 1910 and is comprised of 24 studios and 24 one-bedroom…
By Anuradha Kher, Online News EditorSan Francisco–John E. Wai, a multifamily investor, purchased the 48-unit apartment building at 245 Leavenworth St. in downtown San Francisco for $4.53 million, or approximately $94,000 per unit, at a 7.04 percent cap rate.The six-story, 28,728-sq.-ft. building was built in 1910 and is comprised of 24 studios and 24 one-bedroom units. It is located in the Tenderloin District, a few blocks from Market Street.The elevator, electrical systems, and the kitchens and bathrooms within the units recently underwent upgrades. A new roof was also recently added.
