Freestanding Duplex with Outdoor
For Sale
$2,795,000
Pending
101-103 Elsie Street, San Francisco, CA 94110
Vacant two-unit property with separate living areas, solar panels, driveway parking, and access to Bernal Hill trails.
Property Size3,027 SF
Days on Market17
Property Features for 101-103 Elsie Street
General Information
Standard status
Pending
Size
3,027 SF
Property subtype
Duplex
Units
Unit Mix
4BR/2BA + bonus, 2BR/1BA
Multifamily Units
2
Amenities
solar panels
hot tub
balcony
Building Details
Building Size
3,027 SF
Year Built
1900
Buildings
1
Listing Agency:
Compass
Listed By:
Coby Wilson
(831) 818-5860
Source:
Bonniespindler
Added: Sep 11
Changed: Sep 26
Last Checked: Sep 26 at 11:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This vacant, freestanding duplex is arranged as two distinct residences on a double lot. The upper home includes 4 bedrooms, 2 full bathrooms, a bonus room, several outdoor areas, and a private balcony connected to the primary bedroom. Victorian architectural details are complemented by updates, solar panels, a hot tub, and driveway parking. The lower unit contains 2 bedrooms and 1 bathroom, was remodeled in 2021, and includes separate outdoor space and views.
Located in Bernal Heights, the property sits adjacent to Bernal Hill trails and has expansive city views. The configuration supports separate occupancy while retaining flexibility for additional living space, guests, or rental use.
Located in Bernal Heights, the property sits adjacent to Bernal Hill trails and has expansive city views. The configuration supports separate occupancy while retaining flexibility for additional living space, guests, or rental use.
Key Highlights
- Upper unit offers 4 bedrooms, 2 full bathrooms, a bonus room, and multiple outdoor spaces
- Separate lower unit with 2 bedrooms and 1 bathroom; remodeled in 2021
- Freestanding duplex positioned on a double lot
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
$101,602
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
3.64%
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%
$2,032,040
$2.0M
Cap Rate 7%
$1,451,457
$1.5M
Cap Rate 9%
$1,128,911
$1.1M
Market Conditions
NOI Build-Up for 3,027 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
$154.4K $51.00/SF
− Vacancy
−$9.2K −$3.05/SF
EGI
$145.1K $47.95/SF
− OpEx
−$43.5K −$14.39/SF
NOI
$101.6K $33.57/SF
Area
ZIP 94110
Vacancy
5.98%
Lease Rate
$51.00 /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%
$2,032,040
Cap Rate 7%
$1,451,457
Cap Rate 9%
$1,128,911
Alternative Uses
Best Use
Multifamily LT 5
$1.45M
$1.27M – $1.69M
NOI $101,602 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$1.34M
$1.17M – $1.56M
NOI $93,598 @ 7.0% cap · market cap 3.35%
Theoretical Best
Specialty Retail
$14.79M
$12.94M – $17.25M
NOI $1,034,996 @ 7.0% cap · market cap 37.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 94110, CA
68,336
Population
30,685
Households
2.2
Avg Household Size
38
Median Age
61%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
28,473
Density / Sq Mi
$152,403
Median Household Income
$80,431
Median Earnings
$2,404
Median Rent
$1,500,200
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?
Duplex - Vacant two-unit property with separate living areas, solar panels, driveway parking, and access to Bernal Hill trails.
Where is this duplex located?
The property is located at 101-103 Elsie Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: Upper unit offers 4 bedrooms, 2 full bathrooms, a bonus room, and multiple outdoor spaces; Separate lower unit with 2 bedrooms and 1 bathroom; remodeled in 2021; Freestanding duplex positioned on a double lot
