Am I missing something with this Richmond district SF home sale?

526-528 22nd Ave, Central Richmond. Sold last month for $1.95M. Three stories, two flats plus a bottom in-law. Middle unit has a rent-controlled tenant at $3,200/month. Top floor (1,500 sq ft) and the in-law are both vacant.

Rent roll if you lease all three:

• Middle, sitting tenant: $3,200
• Top floor, 2BR, needs paint job maybe: ~$6,500/month or more tbh looking at recent posts on r/sanfrancisco
• In-law 1BR: ~$2,500
• ~$12,200/mo

Carry at $1.95M, 20% down, 6.5% interest rate, plus SF property tax and insurance: about $11,700/mo. Price-to-rent around 13!

What am I missing here? My thought was that it's just AI money that doesn't want to do any sort of landlording or DIY work?! More pictures FWIW here + commentary