S
Seller's Agent in 2024
Sanford Skeie
Marcus & Millichap
1 in this area
17 Total Sales
731 Polk St San Francisco, CA 94109
Van Ness/Civic Center NeighborhoodEstimated Value: $5,007,293
11
Beds
39
Baths
33,958
Sq Ft
$147/Sq Ft
Est. Value
About This Home
As of August 2024The Columbia Apartments, 731-749 Polk Street, is a 62-unit mixed-use building located in the Van Ness/Civic Center district of San Francisco. The property, at the corner of Polk and Ellis Streets, is a short walking distance to many Civic Center attractions such as City Hall, the Opera House, and Davies Symphony Hall. Transportation options are excellent with BART and Muni Metro stations blocks away in addition to multiple Muni bus line services. This four-story corner, 33,958 square foot building was built in 1908 and is tilt-up (pre-cast construction) per city records. The parcel number is 0739- 001 and the zoning in NC3. The steam heat is provided by a new boiler (2023) and there is an elevator. The attractive lobby area includes new mailboxes, security cameras and front gate. In addition, there are four, coin-operated washer/dryers. The unit mix consists of 31 studios, 8 one-bedrooms, 1 two-bedroom units plus 14 single room units. In addition, there are 8 retail units consisting of shops such as a bakery, barber, and grocery store. The Columbia Apartments represents an opportunity to acquire a stabilized asset at a 10.15% cap rate, 5.32 GRM, $85,484/unit and $156/square foot with considerable rental upside.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $59,565
Year Built
- Built in 1908
Lot Details
- 9,300 Sq Ft Lot
Home Design
- 33,958 Sq Ft Home
- Mixed Use
Listing and Financial Details
- Assessor Parcel Number 0739-001
Community Details
Overview
- 62 Units
Building Details
- 60 Leased Units
- 2 Vacant Units
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 18, 2024
Closed on
Aug 13, 2024
Sold by
Columbia Apartments Llc
Bought by
Columbia Polk Llc
Seller's Agent
Sanford Skeie
Marcus & Millichap
Buyer's Agent
Wendy Tam
W Real Estate
List Price
$5,300,000
Sold Price
$4,950,000
Premium/Discount to List
-$350,000
-6.6%
Total Days on Market
197
Views
48
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$57,293
Avg. Annual Appreciation
1.46%
Purchase Details
Closed on
Sep 25, 1998
Sold by
Galliani Robert B and Galliani Anastasi
Bought by
The Columbia Apartments Llc
Purchase Details
Closed on
Mar 19, 1997
Sold by
Galliani Mara J
Bought by
Galliani Robert B
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,767,500
Interest Rate
7.74%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 18, 1997
Sold by
Baker Michael W
Bought by
Galliani Baker Linda J
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,767,500
Interest Rate
7.74%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 7, 1997
Sold by
743 Polk Street
Bought by
Galliani Robert B and Galliani Mara J
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,767,500
Interest Rate
7.74%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 28, 1995
Sold by
Citirealty Corp Pension Plan
Bought by
743 Polk Street L L C
Purchase Details
Closed on
Jan 18, 1995
Sold by
Wilkie Jack S and Wilkie John S
Bought by
Wasserman Larry and Demarest Ralph E
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Columbia Polk Llc | -- | Fidelity National Title | |
| The Columbia Apartments Llc | $2,525,000 | -- | |
| Galliani Robert B | -- | Old Republic Title Company | |
| Galliani Baker Linda J | -- | Old Republic Title Company | |
| Galliani Louis Frank | -- | Old Republic Title Company | |
| Galliani Robert B | $2,525,000 | Old Republic Title Company | |
| 743 Polk Street L L C | -- | -- | |
| Wasserman Larry | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | The Columbia Apartments Llc | $250,000 | |
| Previous Owner | Columbia Apartments Llc | $4,800,000 | |
| Previous Owner | The Columbia Apartments Llc | $3,030,000 | |
| Previous Owner | The Columbia Apartments Llc | $3,100,000 | |
| Previous Owner | The Columbia Apartments Llc | $2,500,000 | |
| Previous Owner | Galliani Robert B | $1,767,500 | |
| Closed | Galliani Robert B | $126,250 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/19/2024 08/19/24 | Sold | $4,950,000 | -6.6% | $146 / Sq Ft |
| 08/02/2024 08/02/24 | Pending | -- | -- | -- |
| 08/02/2024 08/02/24 | For Sale | $5,300,000 | +7.1% | $156 / Sq Ft |
| 08/01/2024 08/01/24 | Off Market | $4,950,000 | -- | -- |
| 06/11/2024 06/11/24 | Price Changed | $5,300,000 | -9.4% | $156 / Sq Ft |
| 05/03/2024 05/03/24 | For Sale | $5,850,000 | +18.2% | $172 / Sq Ft |
| 05/01/2024 05/01/24 | Off Market | $4,950,000 | -- | -- |
| 03/07/2024 03/07/24 | For Sale | $5,850,000 | 0.0% | $172 / Sq Ft |
| 02/23/2024 02/23/24 | Pending | -- | -- | -- |
| 01/18/2024 01/18/24 | For Sale | $5,850,000 | -- | $172 / Sq Ft |
Source: San Francisco Association of REALTORS® MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $59,565 | $4,035,606 | $1,596,768 | $2,435,080 |
| 2023 | $57,755 | $3,956,700 | $1,565,459 | $2,387,334 |
| 2022 | $56,362 | $3,879,249 | $1,534,764 | $2,340,524 |
| 2021 | $55,210 | $3,803,877 | $1,504,671 | $2,299,206 |
| 2020 | $57,593 | $3,767,093 | $1,489,243 | $2,277,850 |
| 2019 | $56,191 | $3,693,362 | $1,460,043 | $2,233,319 |
| 2018 | $45,749 | $3,625,054 | $1,431,415 | $2,193,639 |
| 2017 | $44,949 | $3,554,186 | $1,403,349 | $2,150,837 |
| 2016 | $44,103 | $3,484,707 | $1,375,833 | $2,108,874 |
| 2015 | $43,458 | $3,432,525 | $1,355,167 | $2,077,358 |
| 2014 | $42,332 | $3,365,498 | $1,328,622 | $2,036,876 |
Source: Public Records
Agents Affiliated with this Home
-
Sanford Skeie
-
Gino Franco
Seller Co-Listing Agent in 2024
Gino Franco
Marcus & Millichap
(415) 963-3000
1 in this area
25 Total Sales
-
Wendy Tam
Buyer's Agent in 2024
Wendy Tam
W Real Estate
(415) 533-1630
1 in this area
39 Total Sales
Map
Source: San Francisco Association of REALTORS® MLS
MLS Number: 424003299
APN: 0739-001
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