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5/07/26
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Ballast has acquired Grosvenor Atrium, an 80-unit multifamily property located at 1690 Broadway in San Francisco’s Pacific Heights neighborhood. The price was not disclosed.
The community, constructed in 1975, was brought to market earlier this year for the first time in half a century, with Ballast securing the highly sought-after asset through a competitive sale process in one of the city’s tightest residential neighborhoods.
The four-story property, situated at the corner of Broadway and Franklin, is 97% occupied and comprises 80 one-, two- and three-bedroom residences. Known for its atrium-style design, the building features two secure gated parking garages, on-site laundry, two elevators and a full-service gym with sauna and whirlpool. Select residences include private patios, fireplaces, and views of the Bay and Golden Gate Bridge, while Polk Street, Union Street, Lafayette Park and multiple transit lines are all within easy walking distance.
Recent capital improvements completed by the seller include a new fire alarm and suppression system, dual-pane windows, and high-efficiency water heaters, reducing near-term capital needs.
“It’s exceptionally uncommon to see a property of this scale and quality become available in Pacific Heights, especially one that has been held and cared for over such a long period of time,” said Mari Yamato, Vice President of Acquisitions at Ballast.
The acquisition occurs as the city’s multifamily market continues to regain its footing, supported by renewed demand, rising rents and limited new supply. San Francisco’s broader economy has also remained resilient, with significant gains in employment and economic output.
Pacific West Group Directors Stephen Pugh, Andrew Black and Michael Johnston served as the listing agents for the seller, a private investment group.
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