Two-Story Mixed-Use Property with
For Sale
$1,650,000
Pending
2843-2845 Geary Blvd, San Francisco, CA 94118
MULTI_FAMILY - San Francisco, CA
Property Size2,400 SF
Lot Size0.07 Acres
Days on Market173
Property Features for 2843-2845 Geary Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NC3
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1
Parking features
On Street
Interior features
Storage
Exterior features
Storage
Fencing
Fenced
Appliances
Dryer, Washer
Subdivision
Laurel Heights
Lot features
Rectangular Lot
Standard status
Pending
APN
1091 025
Size
2,400 SF
Lot size
0.07 Acres
Utilities
Heating system
Wall Furnace, Forced Air
Cooling system
Central Air
Amenities
balcony
Building Details
Year built
1902
Number of units
2
Flooring type
Vinyl, Laminate
Building materials
Frame, Wood Siding
Roof type
Flat
Additional Structures
Storage
Listing Agency:
Keller Williams Tri-Valley · Keller Williams Realty
(925) 397-4200
Listed By:
Nicholas Oh
(209) 814-2073
Added: Feb 16
Changed: Aug 2
Last Checked: Aug 8 at 6:06AM
MLS# 41124159
Copyright © 2026 Bay East. 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 two-story mixed-use property provides a retail unit on the ground floor and a residential apartment on the second floor. The apartment is a three-bedroom, one-bath layout and includes a large balcony and kitchen. The retail unit is described as updated and is under a long-term lease, while the residential tenancy is described as long-term with tenants of six years. The property includes indoor and outdoor storage, and the exterior features a large fenced backyard lot with one large shed that can accommodate flexible uses.
The building is located at 2843-2845 Geary Blvd in San Francisco’s Laurel Heights neighborhood, described as centrally near Golden Gate Park, the Presidio, and the Pacific Heights neighborhood. It sits on a 0.0717-acre lot and is approximately 2,400 square feet. The property is zoned NC3. Parking is listed as on street.
Built in 1902, the building includes frame construction with wood siding, a flat roof, central air cooling, wall furnace and forced air heating, and vinyl and laminate flooring.
The building is located at 2843-2845 Geary Blvd in San Francisco’s Laurel Heights neighborhood, described as centrally near Golden Gate Park, the Presidio, and the Pacific Heights neighborhood. It sits on a 0.0717-acre lot and is approximately 2,400 square feet. The property is zoned NC3. Parking is listed as on street.
Built in 1902, the building includes frame construction with wood siding, a flat roof, central air cooling, wall furnace and forced air heating, and vinyl and laminate flooring.
Key Highlights
- 0.0717‑acre lot for a two‑story mixed‑use building
- Approximately 2,400 SF total building size
- Ground‑floor updated retail unit under a long‑term lease
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
$77,921
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
4.72%
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%
$1,558,420
$1.6M
Cap Rate 7%
$1,113,157
$1.1M
Cap Rate 9%
$865,789
$865.8K
Market Conditions
NOI Build-Up for 2,400 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
$151.2K $63.00/SF
− Vacancy
−$9.5K −$3.97/SF
EGI
$141.7K $59.03/SF
− OpEx
−$63.8K −$26.56/SF
NOI
$77.9K $32.47/SF
Area
San Francisco, CA
Vacancy
6.30%
Lease Rate
$63.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,558,420
Cap Rate 7%
$1,113,157
Cap Rate 9%
$865,789
Alternative Uses
Best Use
Retail
$10.94M
$9.57M – $12.77M
NOI $765,904 @ 7.0% cap · market cap 46.42%
Second Best
Apartment 5plus
$1.11M
$974.0K – $1.30M
NOI $77,921 @ 7.0% cap · market cap 4.72%
Theoretical Best
Specialty Retail
$11.72M
$10.26M – $13.68M
NOI $820,611 @ 7.0% cap · market cap 49.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,163
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?
Mixed-use property - Two-story mixed-use building with an updated ground-floor retail unit and a second-floor 3-bedroom apartment above
Where is this mixed-use property located?
The property is located at 2843-2845 Geary Blvd San Francisco, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 0.0717‑acre lot for a two‑story mixed‑use building; Approximately 2,400 SF total building size; Ground‑floor updated retail unit under a long‑term lease
