This 3-unit building on Russian Hill, priced at $1.89 million, is not your typical San Francisco rental property as it has been upgraded, probably in the 80’s, to a high level. The units are looking a wee bit tired, but it’s hard to notice given the fantastic views.
In my opinion, the best use for this property is to develop the lower levels into a new unit, combine the middle unit (which is at street level) with the upper unit, making the front portion a garage. At this point you will still have a 3-unit building (keeping the City happy) and the building will be comparable to the building next door, which is on the market for $3.4 million. It would be a great project with a nice return.