Two Inner Richmond Mixed-Use Buildings
Offered at: $2,850,000
Welcome to 500 Balboa Street & 508-510 Balboa Street, two buildings side-by-side, seven units total, located two blocks from Golden Gate Park in the vibrantcommercial intersection at 6thAvenue in the Inner Richmond.
500 Balboa Street: The building consists of (2) 1BD/1BA units with dining rooms, (1) large studio, (1) large corner commercial space taken down to the studs connected to 508 Balboa Street, and (1) non-conforming commercial space (583 6thAvenue) adjacent to a two-car garage. One garage is leased to the tenant at 595 6thAvenue and one garage is vacant. Building also has active leases for a CBS Outdoor, Inc. billboard and New Cingular Wireless PCS, LLC telecommunications equipment mounted on the exterior.
508-510 Balboa Street: The building consists of (1) large 2BD/1BA unit with dining room above (1) commercial space taken down to the studs connected to 500 Balboa Street, and a large backyard. The four leased residential units feature original Edwardian architecture with classical interior details and offer high upside in rents. With three high-visibility vacant commercial units, these buildings offer an investor a significant development and leasing opportunity.
Important: The buildings cannot be sold separately to two distinct buyers because the commercial units at 500 Balboa Street and 508 Balboa Street were joined without permits and now must be re-separated with permits. Only buyers interested in purchasing both buildings simultaneously will be considered.
FEATURES
500 Balboa Street: MLS #495171
• (2) 1BD/1BA units with dining rooms, (1) large studio, (1) large corner commercial space taken down to the studs.
• (1) non-conforming commercial space
• Two-car garage
• Active leases for a CBS Outdoor, Inc. billboard and New Cingular Wireless PCS, LLC
508-510 Balboa Street: MLS #495172
• (1) large 2BD/1BA unit
• (1) commercial space taken down to the studs
• Large backyard
• Four leased residential units feature original Edwardian architecture
• Three high-visibility vacant commercial units