Clay St Hotel | 643 Clay St
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Clay St Hotel 643 Clay St
22 Room Hotel San Francisco, CA 94111 £1,648,481 (£74,931/Room) 6.33% Net Initial Yield
Executive Summary
Motivated Seller !!!
Price adjusted to $2,100,000
Great opportunity to acquire a stabilized property with lots of potential to increase revenue.
643-647 Clay St is a well maintained 22-unit mixed-use building located at the intersection of the Financial District and the Historical Chinatown, near North Beach and the Transamerica Pyramid, with excellent access to public transportation. This is a high foot traffic area that draws both local San Franciscans, out-of-state and international visitors.
The property is 7,112 square feet building sitting on a 1,991 square foot lot. Additionally, the building has a full basement that is mostly used by the 2 tenants on the ground floor.
The ground floor is occupied by two strong commercial tenants.
643 Clay has been occupied by a pizza restaurant since June 1st, 2024, and has a 10-year lease in place. They have another location on Larkin Street that was opened in 2020 at the height of the pandemic. Rent will increase by 3% per year from year 2 onwards.
Click the link to view the write up for this restaurant: https://sf.eater.com/2024/5/23/24163288/outta-sight-pizza-chinatown-restaurant-opening
645 Clay has been occupied by a Korean restaurant since 2016 and had renewed their lease in 2021. Their lease is up for renewal on January 1st of 2027 at which time there is a possibility to renegotiate a rent increase.
This building is licensed for 22 SRO units but also has two extra units, one of which is occupied by a resident manager and the other is vacant space.
APN is 0227 -044. Zoning is CCB.
The subject property presents a stable financial investment opportunity with potential for greater future returns.
Price adjusted to $2,100,000
Great opportunity to acquire a stabilized property with lots of potential to increase revenue.
643-647 Clay St is a well maintained 22-unit mixed-use building located at the intersection of the Financial District and the Historical Chinatown, near North Beach and the Transamerica Pyramid, with excellent access to public transportation. This is a high foot traffic area that draws both local San Franciscans, out-of-state and international visitors.
The property is 7,112 square feet building sitting on a 1,991 square foot lot. Additionally, the building has a full basement that is mostly used by the 2 tenants on the ground floor.
The ground floor is occupied by two strong commercial tenants.
643 Clay has been occupied by a pizza restaurant since June 1st, 2024, and has a 10-year lease in place. They have another location on Larkin Street that was opened in 2020 at the height of the pandemic. Rent will increase by 3% per year from year 2 onwards.
Click the link to view the write up for this restaurant: https://sf.eater.com/2024/5/23/24163288/outta-sight-pizza-chinatown-restaurant-opening
645 Clay has been occupied by a Korean restaurant since 2016 and had renewed their lease in 2021. Their lease is up for renewal on January 1st of 2027 at which time there is a possibility to renegotiate a rent increase.
This building is licensed for 22 SRO units but also has two extra units, one of which is occupied by a resident manager and the other is vacant space.
APN is 0227 -044. Zoning is CCB.
The subject property presents a stable financial investment opportunity with potential for greater future returns.
Property Facts
| Price | £1,648,481 | Building Class | C |
| Price Per Room | £74,931 | Lot Size | 0.05 AC |
| Sale Type | Investment or Owner User | Building Size | 7,112 SF |
| Net Initial Yield | 6.33% | No. Rooms | 22 |
| Sale Conditions | 1031 Exchange | Number of Floors | 4 |
| Property Type | Hospitality | Year Built | 1912 |
| Property Subtype | Hotel | Corridor | Interior |
| Price | £1,648,481 |
| Price Per Room | £74,931 |
| Sale Type | Investment or Owner User |
| Net Initial Yield | 6.33% |
| Sale Conditions | 1031 Exchange |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 7,112 SF |
| No. Rooms | 22 |
| Number of Floors | 4 |
| Year Built | 1912 |
| Corridor | Interior |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 22 | £158.57 | - |
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Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 0227-044 | Improvements Assessment | £721,140 |
| Land Assessment | £1,081,711 | Total Assessment | £1,818,158 |
PROPERTY TAXES
Parcel Number
0227-044
Land Assessment
£1,081,711
Improvements Assessment
£721,140
Total Assessment
£1,818,158
zoning
| Zoning Code | CCB, San Francisco |
| CCB, San Francisco |
-
Jag Patel -
Lee & Associates
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Clay St Hotel | 643 Clay St
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