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36-52 Calhoun TER San Francisco, CA 94133 Active

UPDATED: 07/10/2026 07:35 PM ON SITE: 19 days on site

$8,000,000

13 Beds4,201 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 426136882

Bedrooms 13

HOA Y/N No

Year Built 1938

Lot Size 4,201 Sqft

Acres 0.0964

Property Sub-Type Multi Family

Property Description

36-52 Calhoun Terrace is a rare and architecturally significant 11-unit apartment building cascading down the eastern slope of Telegraph Hill with sweeping bay, waterfront, and city views. Originally constructed in the late 1930s as the Hoeffler Building,'' this unique multifamily property was designed to step dramatically down the hillside in the style of a Swiss mountainside village. Located on secluded Lower Calhoun Terrace, a hidden WPA-era street at the eastern end of Union Street, the property offers exceptional privacy, tranquility, and a setting more reminiscent of a European hillside enclave than an urban environment. Building features 11 distinctive residences ,a well-balanced unit mix of nine one-bedroom residences (six with bonus rooms) and two two-bedroom residences with bonus rooms. Each unit enjoys private outdoor space, abundant natural light, and remarkable views, while several feature expansive view decks. Rich in San Francisco history, Apartment 42 was home to Frida Kahlo and Diego Rivera in 1939-1940 while Rivera was creating his celebrated Pan American Unity mural. Adjacent to the historic Kahn House by renowned architect Richard Neutra, the property combines architectural significance with convenient access to North Beach, Russian Hill, Jackson Square, the Embarcadero, Coit Tower, Washington Square Park, Chinatown, and the Financial District via the nearby Montgomery, Filbert, and Greenwich Street Steps. Current metrics include approximately $444,716 NOI, a 5.56% cap rate, and a 12.92 GRM, with long-term rental upside through future turnover and rent optimization. A truly generational investment opportunity in one of San Francisco's most tightly held and historically significant neighborhoods.