745 Fillmore Street Sold: 17-Unit Alamo Square Building Draws 10 Offers
Updated: Oct 7
By Kevin Caravelli and Steve Caravelli, Caravelli Group, Coldwell Banker Commercial.
How the sale came together
What kind of building is 745 Fillmore Street?
745 Fillmore Street is a 17-unit apartment building in Alamo Square with 10 large studios, 7 one-bedroom units and 11 on-site parking spaces. One owner had held it for 46 years.
How did Caravelli Group market 745 Fillmore Street?
We listed the building at $4,225,000 and marketed it to private investors, syndicators and institutional buyers at the same time, so every type of buyer competed for it. Over the marketing period we ran 15 private tours, giving serious buyers time to evaluate the building in depth.
Why use a bid date?
Interest was high, so we set a single deadline for offers. That brought every buyer to the table at once and made them compete on both price and terms. It produced 10 offers, 8 of them above the list price.
What was the result of the 745 Fillmore Street sale?
The seller chose a well-capitalized, all-cash buyer who offered:
Terms worth about 11.2% more to the seller than the original list price, once the costs of sale the buyer paid are counted.
Payment of all costs of sale, including removal of an underground storage tank.
A large non-refundable ("hard") deposit.
A quick, clean closing.
The outcome maximized the price and cut the seller's risk on closing.
What does this sale show about San Francisco apartment demand in 2025?
Long-held, well-located buildings in central neighborhoods drew the deepest competition in 2025. Counting the costs of sale the buyer paid, 745 Fillmore traded at an effective cap rate of 4.75%, more than a full point below the 5.99% District 6 average, which means buyers paid a premium relative to the building's current income.
About Caravelli Group
Caravelli Group advises owners and investors on the sale of San Francisco apartment buildings, focusing on the 5-to-75 unit middle market. Founded in 1985, the team is part of the San Francisco office of Coldwell Banker Commercial Realty.
Kevin Caravelli, partner. DRE #01988049 · 415.271.8517
Steve Caravelli, founder, with nearly four decades of experience and more than $1.7 billion in closed transactions. DRE #00879834 · 415.706.0008
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