224-228 Clara Street Listing Details & Market Data

The South of Market (SoMa) district is known for its wide range of experiences. From restaurants, bars, and clubs to event spaces, retailers, and services, this area offers a diverse array of options, making it the city’s most vibrant urban living experience. For residents, there’s something novel and thrilling always waiting to be explored. SoMa has excellent connectivity with major highways and public transportation As such, the district is exceptionally appealing to young professionals. Developers have recognized the neighborhood’s attractive features and have made SoMa the choice location for many new residential developments both big and small. This trend underscores the district’s unique appeal and potential for continued growth. This influx of new residential offerings not only enhances the neighborhood’s aesthetic but also contributes to its reputation as a modern and sought-after residential hub.224-228 Clara Street is a vacant property in the South of Market District on a 3,600 SF lot that is entitled for a 5-story 9-unit multifamily development. The property is currently a vacant building. Ownership has obtained entitlements to build a 9-unit multifamily property consisting of eight (8) 2-bedroom/2-bathroom units and one (1) 1-bedroom/1-bathroom unit. When complete, the property will be LEED Silver certified and will feature open living/dining/kitchen spaces, direct elevator access to each unit, and a lobby with up to 17’ high ceilings. The proposed development was designed by renowned local architect Stanley Saitowitz of Natoma Architects Inc., designer of innovative buildings such as 8 Octavia and 603 Tennessee. The South of Market District embodies a vibrant blend of residential, retail, office, and industrial spaces. Over the past decade, the neighborhood has undergone a remarkable surge in residential development, resulting in a thriving community with a growing population and an array of retail offerings. The investment appeal of the property is its central location in the City and its potential as a fully entitled multifamily redevelopment.