California Real Estate | 3 minute read
Last Year’s Largest Rental Communities Completed in San Francisco
BY Balazs Szekely | Apr 8, 2016
Apartments for rent in San Francisco posted some of the most impressive rent growths in the nation in recent years, resulting from a plethora of new, high-end jobs pouring into the metro, attracting affluent young professionals to The Golden Gate City. The demand went through the roof, prompting developers to build a large number of new, upmarket apartments in San Francisco.
Based on data provided by Yardi Matrix, a sister division of PropertyShark, average rents in San Francisco currently stand at $3,424, but new apartments and housing developments built since 2010 command a hair-raising $4,200 on average. The 2014 balance sheet shows more than 3,654 housing units in communities with 50+ units, a 20-year record. Chances were slim that developers would come close to this peak performance, and indeed, only 9 large developments came online in 2015, adding just 1,637 new apartments. There’s a crumb of comfort though: nearly half of the new developments are fully affordable.
Scroll down and see five of San Francisco’s largest apartment projects that hit the market in 2015:
#5. 2175 Market Street: 88 rental units
Completed: 4/21/2015
Address: 2175 Market Street, San Francisco, CA 94114
Rental types: 54 one-bedroom apartments, 34 two-bedroom apartments
Property size: 55,111 sq.ft., six-story building. First floor includes retail.
Short description: Located in the Upper Market neighborhood of San Francisco. Green Building – LEED – Proposed Certified Platinum. Electric is partially powered by a solar electrical system. Rooftop terrace with a great view over San Francisco Bay.
Photo credits: 2175 Market Street Official Website
#4 The Civic, 101 Polk: 162 rental units
Completed: 12/23/2015
Address: 101 Polk Street, San Francisco, CA 94102
Rental types: 25 studios, 99 one-bedroom apartments, 38 two-bedroom apartments
Property size: 13-story building
Short description: Conveniently located at the intersection of Hayes Valley, SOMA, the Mission and mid-Market. Floor-to-ceiling windows. All apartments have in-unit washer/dryers, gas stoves, and stainless steel appliances. Walk-in showers, walk-in closets and private balconies in many apartments.
Photo credits: The Civic San Francisco Official Website
#3. Avalon Hayes Valley: 182 rental units
Completed: 10/01/2015
Address: 325 Octavia Street, San Francisco, CA 94102
Rental types: 45 studios, 106 one-bedroom apartments, 35 two-bedroom apartments
Property size: 135,149 sq.ft., Five-story building – first floor includes retail
Short description: Green Building – LEED – Certified Platinum. Private balcony/patio in select units. Fitness center, clubhouse. High speed internet.
Photo credits: Avalon Hayes Valley Official Website
#2. 100 Van Ness: 421 rental units
Completed: 11/11/2015
Address: 100 Van Ness Avenue, San Francisco, CA 94102
Rental types: 49 studios, 209 one-bedroom apartments, 163 two-bedroom apartments
Property size: 346,518 sq.ft., 28-Story – First Floor includes retail
Short description: Fitness Center, Business Center. View – Downtown San Francisco/San Francisco Bay. High Speed internet access.
Photo credits: 100 Van Ness Official Facebook Page
#1. Mosso: 463 rental units
Completed: 2/02/2015
Address: 900 Folsom Street, San Francisco, CA 94107
Rental types: 14 studios, 252 one-bedroom apartments, 210 two-bedroom apartments
Property size: 375,971 sq.ft., includes 8,000 square feet of retail.
Short description: Located in the heart of SoMa. Green building, LEED certified. Outdoor Workspace/Meeting Area. Electronic charging stations. Rooftop terrace. Great view over San Francisco Bay.
Photo credits: Mosso Official Website
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POSTED IN: California Real Estate, San Francisco Real Estate
Balazs covers the workspace trends, tools, and strategies that help organizations make hybrid work actually work, from access and space management to keeping distributed teams connected.
A journalist by training with a career spanning radio, print, and digital media, Balazs has held content roles across multiple Yardi products and teams. His writing has been featured in The New York Times, The Washington Post, and The Wall Street Journal, as well as on CBS, CNBC, and more.
Outside of work, Balazs is passionate about photography, winter sports, and nature, and never misses a chance to explore a new city.
Drop him a line via email.
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