Multi-story residential building with a brick and stucco facade, decorative wrought iron gate, garage door, and multiple rectangular and arched windows, with a tree in front.

139-143 Dolores Street, San Francisco

5-unit multifamily residential building in Mission Dolores neighborhood. Purchased at a 4% CAP rate; increased to 7% CAP in 12 months.

4 x 1-bedroom and 1 x studio at purchase. Converted studio into 1 bedroom.

Renovated vacant units to exceed pro forma rent by 40%+

Added bike storage and moved trash facilities to improve appeal

Updated common space lighting for safety and appearance

  • Modern kitchen with white cabinetry, stainless steel appliances, marble countertops, and a contemporary chandelier.

    Updated kitchens to add island and dishwasher

  • Modern kitchen with green cabinets, stainless steel appliances, white countertops, and light wood flooring.

    Added kitchen to converted studio unit

  • A modern bathroom with a glass shower enclosure, a white marble vanity with a black faucet, and a large rectangular mirror on the wall.

    Updated converted studio bathroom

  • Empty room with wooden flooring, cream-colored walls, ceiling light, and a sliding glass door leading to an outside area.

    Upgraded patio door for energy and light

  • Interior of a building under renovation with exposed wooden framing and construction materials, five people discussing, and construction tools scattered on the floor.

    Studio conversion to 1 bedroom to increase rent by 200%

Improvements

Value add improvements to increase rental income and investor returns

A small, cluttered kitchen with yellow cabinets, a white stove, and various appliances on the countertop, including a coffee maker and microwave.

Before

Modern kitchen with dark green cabinets, stainless steel appliances, wooden flooring, and a ceiling light.

After

Neighborhood

Mission Dolores is a residential pocket of San Francisco known for its historic homes, sunny weather, and proximity to Dolores Park. It offers a quieter feel than the surrounding Mission District while still being close to restaurants, transit, and neighborhood staples. The area attracts people who want charm, outdoor space, and easy access to the rest of the city.