34 Turk St, San Francisco, CA, 94102

About This Home

34 Turk Street (The Dalt Hotel) presents a rare opportunity to acquire a large-scale, income-generating mixed-use asset in the heart of San Francisco's Tenderloin neighborhood. The property consists of one hundred eighty (180) units, including a diverse mix of SRO configurations supported by various housing programs, along with two (2) ground-floor commercial spaces, offering both residential stability and additional revenue streams. Originally constructed in 1909, the building features classic San Francisco architectural character and spans approximately 58,718 square feet on a 9,453 square foot lot. The asset includes elevator access and a variety of on-site amenities, including laundry facilities and communal spaces, all within a well-secured building. Many units offer efficient layouts designed to maximize livability, while the property's historical use as supportive housing provides consistent occupancy and income stability. The Dalt Hotel benefits from multiple layered income sources, including tenant rents, government-backed subsidies, and service-related revenue programs such as HUD Project-Based Vouchers (PBS8), VASH, and local housing initiatives. This structure enhances revenue reliability while also providing a clear opportunity for operational improvement through expense optimization and management efficiencies. Situated just steps from Market Street, Civic Center, and Union Square, the property offers immediate access to San Francisco's primary employment hubs, public transit, and neighborhood amenities. The surrounding area continues to see ongoing public and private investment, reinforcing long-term demand for centrally located, transit-oriented housing. 34 Turk Street offers investors a compelling combination of scale, strong in-place income, and significant operational upside. With current expenses elevated due to historical operations and rents supported by a variety of subsidy programs, new ownership has the opportunity to streamline operations and unlock meaningful increases in net operating income, positioning the asset for long-term value creation.