649-651 Francisco St, San Francisco, CA 94133, San Francisco, 94133 - 6 bed, bath

649-651 Francisco St, San Francisco, CA 94133 home-pic-0
ACTIVE$9,700,000
649-651 Francisco St, San Francisco, CA 94133
6Beds
0Bath
2,740Sqft
1,500Lot
Year Built
1950
Close
-
List price
$9.7M
Original List price
-
Price/Sqft
$3,540
HOA
$0
Days on market
-
Sold On
-
MLS number
ML82028562
Home ConditionExcellent
Features
Deck
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $9.70M(92th), sqft - 2740(33th), beds - 6(50th), baths - undefined(42th).

This unique corner property combines a highly coveted, commercially zoned space with two extensively remodeled residential units, 649 and 651 Francisco. The residential spaces seamlessly blend preserved original charm with luxurious modern amenities, including all-new windows, beautiful hardwood flooring, and in-unit washer/dryer hookups. Unit #649 (configured as an ADU) is a light-filled three-bedroom, two-bathroom unit featuring sky windows/skylights and a magnificent master en-suite leading to a private, 250 sq ft deck. Unit #651 offers two bedrooms, two bathrooms, a large kitchen/dining area, its own separate deck, and an easily convertible additional room for a potential third bedroom. The ground-floor commercial space at 1095 Columbus Ave is an extremely rare and valuable asset. It was formerly a cannabis dispensary (Cannabis 21) and is one of only three lots on Columbus Avenue zoned for cannabis retail use, previously leased at a substantial $20,000 NNN per month. The building is positioned for a Fast-Track condo conversion (totaling three units: one commercial, one residential, one ADU), offering significant potential to maximize returns and unlock immediate profit. Flexible Seller Financing is available to qualified buyers with a substantial down payment (40-50%).

Price History

Date
Event
Price
12/02/25
Price Change
$9,700,000
Condition Rating
Excellent

Despite being built in 1950, the residential units have undergone extensive and recent remodeling, as explicitly stated in the description and clearly visible in the images. Both kitchens feature modern shaker-style cabinetry, white quartz countertops, high-end stainless steel appliances (including professional gas ranges and modern hoods), and recessed lighting. The bathrooms are equally updated with contemporary vanities, fixtures, and glass-enclosed showers with modern tiling. New hardwood flooring and windows throughout the residential spaces indicate a comprehensive renovation, bringing the property's living areas to a virtually new condition, meeting current quality standards with no visible deferred maintenance.
Pros & Cons

Pros

High-Value Commercial Component: Features a rare, commercially zoned space on Columbus Ave, previously leased at $20,000 NNN/month for cannabis retail, offering exceptional income potential.
Significant Value-Add Opportunity: Positioned for a 'Fast-Track condo conversion' into three distinct units (commercial, residential, ADU), enabling substantial profit maximization through individual sales.
Extensively Remodeled Residential Units: Both residential units are thoroughly updated with modern amenities like new windows, hardwood flooring, and in-unit laundry hookups, enhancing tenant appeal and value.
Flexible Financing Options: Seller financing is available for qualified buyers with a substantial down payment, potentially easing acquisition for a broader range of investors.
Prime Corner Location: A unique corner property in a highly desirable San Francisco location, offering excellent visibility and inherent long-term appreciation potential.

Cons

High Capital Requirement: The $9.7 million list price and significant down payment requirement (40-50% for seller financing) limit the potential buyer pool to high-net-worth investors.
Specialized Commercial Vacancy Risk: The commercial space, while valuable, was 'previously' leased, implying potential vacancy. Securing a new tenant for a specialized cannabis retail space can be challenging and time-consuming.
Condo Conversion Complexity: Despite being 'Fast-Track,' a condo conversion process involves inherent legal, administrative, and financial complexities that require expertise and additional investment.

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