Thoughts on this expensive now reduced property

[Sailesh Kumar]

There is a property that I am interested in in SF Cole Valley area. Here is a link to the property: https://www.zillow.com/homedet...

This has 6 unit large apartments and 3 commercial properties on the ground floor. The total rent from everything is roughly $45K per month at the moment (4K per apartment, 10K from a restaurant and 5K each from a nail spa and a hair saloon) and I believe there is a small upside in rent after pandemic. The asking price is 8.5M after 500K reduction. It does sound like an expensive property but it has good location and cap rate is relatively good for SF even based on current income. Any thoughts you have on whether its a good investment and what's the right price for this in your mind. I will really appreciate any insights.