Triplex with In-Law
For Sale
$1,950,000
1545-1547 Balboa Street, San Francisco, CA 94118
MULTI_FAMILY - San Francisco, CA
Property Size2,850 SF
Lot Size0.06 Acres
Price / SF$684.21
Days on Market72
Property Features for 1545-1547 Balboa Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Parking
2
Parking features
Garage
Subdivision
SF District 1
Standard status
Active
APN
1628030
Size
2,850 SF
Lot size
0.06 Acres
Building Details
Year built
1921
Floors in Building
3
Number of units
3
Listing Agency:
Century 21 Masters · Century 21 Real Estate
(415) 213-1600
Listed By:
Roxy Tsai
(415) 275-4758
Added: Jun 5
Changed: Aug 13
Last Checked: Aug 15 at 5:06AM
MLS# 426137366
Copyright © 2026 San Francisco Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex at 1545-1547 Balboa Street includes three residential units: two main units and a bonus in-law unit. Each main unit features two bedrooms and one bathroom, along with a formal living room and formal dining room. All units are tenant-occupied, and the property includes garage parking. Built in 1921, the duplex-style configuration with an additional in-law unit offers flexible living and rental possibilities (buyer to verify).
Located in San Francisco’s Inner Richmond area, the property is positioned for buyers seeking a residential income asset in a well-established neighborhood rental market. Please do not disturb occupants.
Located in San Francisco’s Inner Richmond area, the property is positioned for buyers seeking a residential income asset in a well-established neighborhood rental market. Please do not disturb occupants.
Key Highlights
- 0.0573‑acre lot with a tenant‑occupied triplex at 1545‑1547 Balboa Street
- Two main units feature 2 bedrooms, 1 bathroom, plus formal living and formal dining
- Bonus in‑law unit adds flexibility for additional rental or living arrangements (buyer to verify)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,288
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,025,760
$2.0M
Cap Rate 7%
$1,446,971
$1.4M
Cap Rate 9%
$1,125,422
$1.1M
Market Conditions
NOI Build-Up for 2,850 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$153.9K $54.00/SF
− Vacancy
−$9.2K −$3.23/SF
EGI
$144.7K $50.77/SF
− OpEx
−$43.4K −$15.23/SF
NOI
$101.3K $35.54/SF
Area
San Francisco, CA
Vacancy
5.98%
Lease Rate
$54.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,025,760
Cap Rate 7%
$1,446,971
Cap Rate 9%
$1,125,422
Alternative Uses
Best Use
Multifamily LT 5
$1.45M
$1.27M – $1.69M
NOI $101,288 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,531 @ 7.0% cap · market cap 4.75%
Theoretical Best
Specialty Retail
$13.92M
$12.18M – $16.24M
NOI $974,476 @ 7.0% cap · market cap 49.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,829
Businesses Nearby
Explore this area
Business Placement
Demographics for 94118, CA
42,356
Population
19,052
Households
2.2
Avg Household Size
37
Median Age
72%
College-Educated
94%
High-School Grad
2.0 sq mi
ZIP Area
21,178
Density / Sq Mi
$159,550
Median Household Income
$92,946
Median Earnings
$2,695
Median Rent
$1,817,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied triplex on a 0.0573-acre lot with a garage and three residential units built in 1921.
Where is this triplex located?
The property is located at 1545-1547 Balboa Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 0.0573‑acre lot with a tenant‑occupied triplex at 1545‑1547 Balboa Street; Two main units feature 2 bedrooms, 1 bathroom, plus formal living and formal dining; Bonus in‑law unit adds flexibility for additional rental or living arrangements (buyer to verify)
