About 655 Hyde Street
NEW PRICE $3,095,000. 655 Hyde Street is a 14-unit, 100%-occupied apartment building in Lower Nob Hill. Offered at approximately $221K/unit and $390/SF, the property delivers a 5.59% in-place cap rate based on current NOI of $173,020 and a 9.80 GRM based on current total scheduled income of $315,776. The efficient unit mix comprises eight studios and six one-bedroom apartments. Rent Roll upside of approximately 35%, and proforma cap rate of 9.0%. Twelve of 14 units have been updated (~86%), positioning new ownership to capture long-term income growth through natural turnover while benefiting from stable in-place cash flow. Professionally managed and fully occupied, the property also benefits from an existing RUBS program and recently completed on-site laundry. The property is compliant with the SF sleep area fire ordinance, and received significant retrofitting under the UMB seismic program completed in 2004. Built in 1913, the building features an arched entry, ornate cornice detailing, and convenient access to Lower Nob Hill retail, dining, employment centers, and public transportation.
