Clay Street Apartments
Clay Street Apartments
Steelhead Investments Provides Advisory Services on $3.4 Million Apartment Building in San Francisco, California.
Steelhead Capital Investment Advisory Services is pleased to announce they represented the Buyer in the acquisition of the Clay Street Apartments, located in the Presidio Heights neighborhood in San Francisco, California.
Multifamily Investment Highlights:
- $3,400,000 Purchase Price
- Approximately $300 per square foot
- Converted to TIC
- Closed December 2006
The property consists of 7 units housed in three-story wood framed building that was constructed in 1910. Upon sale, the property was converted from a multifamily apartment building to tenancies in common as a way of maximizing the value of the investment.
The popularity of tenancies in common has been further enhanced by the recent introduction of "fractional loans". These loans allow co-owners to have individual mortgages on their dwelling, substantially decreasing the risk of co-ownership, and increasing the sales price and marketing options at the time of resale. For example, certain arrangements allow sellers to sell fractions of the property to multiple buyers for prices that generally add up to more than what the seller would receive from a single buyer that purchased the entire building.
Steelhead Capital Investment Advisory Services specializes in the disposition and acquisition of multifamily investment opportunities. Contact us today to learn more about how Steelhead can help you maximize your investment portfolios.
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