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2/18/15
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A 12-unit apartment property in San Francisco sold for $8 mil, or a healthy $667k/unit. The property is located at 1100 Fulton St, north of Fell St and east of Divisadero St, at the edge of Alamo Square.
For those not familiar with the city, Alamo Square is in an area long known as the Western Addition, situated a few blocks northwest of civic center and Hayes Valley, and east of the Panhandle.
The building consists of six one-bedroom/one-bath units, six two-bedroom/one-bath units, and 15 parking spaces. The scheduled annual gross income at the time of sale was $375,502 and the net operating income was $244,847.
The buyer, a limited liability company, was represented by Clinton Textor and Nick Bonn, investment specialists in Marcus & Millichap’s San Francisco office.
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