May 28, 2025
Source: CoStar Research May 13, 2025 | 9:05 AM
Fortress Investment Group, a New York-based investment management firm, acquired a 22-unit apartment building in San Francisco's Russian Hill neighborhood from a private investor for $9.45 million, or $429,545 per unit, in April.
Built in 1918, this historic apartment complex sits on a steep stretch of Union Street less than four blocks from the twisting portion of Lombard Street so popular with tourists. It has 20 studio units, a one-bedroom unit and a two-bedroom unit. The apartments were 82% occupied at the time of the sale, and the building had a 5.4% cap rate.
Morgan Thomas of Sotheby's International Realty represented the seller, while Adam Filly of Compass Commercial represented the buyer.