Apartment Building, Artists, California, historic homes, Multi-Family Homes, San Francisco CA, Unique Homes, Video
Cascading Cliffside Apartment Building Where Frida Kahlo and Diego Rivera Once Lived Is Listed for $8 Million in San Francisco
Jul
A jaw-dropping 11-unit apartment building in San Francisco where married Mexican artists Frida Kahlo and Diego Rivera once resided has just hit the market for $8 million.
Built into a cliff of bedrock and designed to look as if it were cascading down Telegraph Hill, the artistically significant structure was originally built in 1938 as the Hoeffler Building.
In the years since, the structure—which is reminiscent of a Swiss mountainside village—has earned incredible renown, not least because its storied former residents, although it did also make its Hollywood debut as a filming location for the 1952 film noir “The Sniper.”
From the street, the domicile appears completely unassuming, save for the jaw-dropping city and ocean views that extend behind it. However, a quick trip to the rear of the structure reveals its gravity-defying hillside construction, with each level of the dwelling appearing to flow down the steep incline.
“Its location, views from every unit, amazing terraces, historical significance, and former residence of Frida Kahlo are some of the property’s most impressive features,” said listing agent Jean-Paul Samaha of Vanguard Properties, Inc. “It is truly a trophy property.”
The eye-popping multifamily dwelling is located in a “setting more reminiscent of a European hillside enclave than an urban environment,” according to its listing.
There are 11 distinctive residences that include nine one-bedroom units and two two-bedroom abodes. And while the individual properties are relatively petite—ranging from 500 to 950 square feet—the views more than make up for the lack of space.
In order to fully maximize those vistas, each unit has been outfitted with its own private outdoor terrace space, adding extra space to each dwelling, while also providing the perfect place to enjoy the views in peace.
“Each home has a private outdoor space with views toward San Francisco Bay and Treasure Island,” Samaha said. “They also have amazing downtown and water views of the piers.”
Adding to its pedigree is the fact that the structure is essentially unmatched by anything new.
“They literally don’t build things like they used to,” San Francisco Planning Chief of Staff Dan Sider told The San Francisco Standard.
Buyers who are interested in taking on what could potentially be a very lucrative rental opportunity will also have the advantage of offering up a unit that once house two of the world’s most well-known artists.
Apartment 42 is the famed residence where Kahlo and her spouse lived from 1939 to 1940—where Rivera created his large-scale fresco mural, “Pan American Unity,” which is now housed at City College of San Francisco.
The couple had a tumultuous relationship and later divorced. Initially, Rivera stayed in the apartment with another woman, however he and Kahlo eventually reconciled, and she moved back in.
“I think the next buyer will be someone who is looking for an opportunity to own a piece of San Francisco and looking for a great income-producing building,” he noted.
While the the generational investment property does not have any on-site parking, its easy walkability to downtown has always attracted renters seeking a unique place to live.
“There is almost never a vacancy that lasts more than a day,” Samaha added. “The rents are great and produce over $500,000 in net operating income.”
The property is also located next to the historic Richard Neutra-designed Kahn House and is also nearby North Beach, Russian Hill, Jackson Square, the Embarcadero, and Coit Tower.
“It’s located on a cul-de-sac so it is very private and makes you feel like you are out in the country but you are in the heart of the city,” he said.