Waterbend is a Class A property built in 2016 and located in the Bayview neighborhood of San Francisco, one of the most sought after and best performing residential markets in the country. The property was acquired on a pre-stabilized and off-market basis. Waterbend was purchased at a significant discount to its replacement costs and comparable sales. San Francisco has been experiencing strong multifamily fundamentals for the past decade. Average monthly rents have increased 79% since 2005, while vacancy has been extremely low at 3.8%. Furthermore, the population has increased by 45,000 residents and only 7,500 total new units have been delivered in the past five years. New construction in the area has leased-up quickly, with properties stabilizing in as little as four months, thus demonstrating the exceptional demand for quality rental product. The property is also mapped for condo conversion, adding further flexibility to a potential future buyer.
A 136-unit, newly constructed property located in the up-and-coming Bayview neighborhood of San Francisco. Bayview is just south of the excellent Dogpatch and Mission Bay submarkets, which have transformed and gentrified to a remarkable degree in the past several years. The property is highly accessible as it enjoys doorstop access to the Muni KT line, one mile from a Caltrain station, and a half-mile away from US 101. Unit amenities include hard surface plank and stone flooring throughout, GE appliances, in-home washer/dryer, quartz countertops, and spacious closets.
- Fitness Center
- Resident Wi-Fi Lounge
- Courtyard Terrace with Fire Pit
- Dog Park
- Package Lockers
- Controlled Access