San Francisco posted one 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
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
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
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
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
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