$20,280,000

The Central Apartments is a 1907 vintage, 104-unit apartment community located in the South of Market District (SoMa) of San Francisco, California. The asset offers a rare convergence of an attractive entry basis far below replacement cost ($195,000 per unit), embedded NOI upside, and durable market fundamentals in the nation's leading rent growth market, positioning it to deliver outsized, risk-adjusted returns. As San Francisco continues to solidify its position as the global epicenter for artificial intelligence and technology growth, SoMa remains the focal point for high-wage tech talent, driving robust, long-term demand for well-connected housing. The Property offers a unique blend of historic charm and modern conveniences with an efficient mix of 78 studios, 24 one-bedroom units, and 2 two-bedroom units. Representing one of the largest vintage apartment communities in SoMa, The Central Apartments provides extraordinary rental income and operational upside potential. Connectivity across the entire Bay Area is seamless via all major modes of transportation: CalTrain (San Francisco Station - 7 min walk), Muni (4th & Brannan - 3 min walk), BART (Montgomery Station - 19 min walk), SFMTA bus stops (3rd & Brannan - 3 min walk), San Francisco Ferry System (Pier 40 - 10 min walk), and immediate freeway access (I-80 - 4 min drive). The Property is exceptionally walkable to SoMa's top attractions and employment hubs, including South Park, Oracle Park, The Embarcadero, the Financial District, Salesforce Park and Transit Center, Mission Rock, Chase Center & Thrive City, Crane Cove Park, the Ferry Building, and the Moscone Center. With the high cost of homeownership across San Francisco reinforcing a deep, persistent renter pool, The Central Apartments is ideally positioned to capture durable occupancy and long-term rent growth.