Vacant Duplex with Outdoor
For Sale
$2,795,000
101-103 Elsie Street, San Francisco, CA 94110
Residential Income, San Francisco, CA
Property Size3,027 SF
Lot Size0.04 Acres
Price / SF$923.36
Days on Market58
Property Features for 101-103 Elsie Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2
Parking
2
Parking features
Off Street
Subdivision
SF District 9
Standard status
Active
APN
5619067
Size
3,027 SF
Lot size
0.04 Acres
Building Details
Year built
1900
Number of units
2
Listing Agency:
Compass
(415) 660-9955
Listed By:
Coby Wilson
(831) 818-5860
Added: Jul 17
Changed: Sep 11
Last Checked: Sep 12 at 2:06PM
MLS# 426161660
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 freestanding vacant duplex contains 3,027 square feet across two distinct residences on a 0.0402-acre double lot. Built in 1900, the upper home features 4 bedrooms, 2 full bathrooms, a bonus room, multiple outdoor areas, Victorian-era details, a private balcony, solar panels, a hot tub, and driveway parking. The lower residence offers 2 bedrooms and 1 bathroom and was remodeled in 2021, with separate outdoor space and views.
Located at the top of Bernal Heights, the property has views toward the city and Bernal Hill trails directly behind it. The two-unit configuration provides separate living spaces, while the upper residence has the scale and layout of a single-family home. The property is situated at 101-103 Elsie Street in San Francisco, California.
Located at the top of Bernal Heights, the property has views toward the city and Bernal Hill trails directly behind it. The two-unit configuration provides separate living spaces, while the upper residence has the scale and layout of a single-family home. The property is situated at 101-103 Elsie Street in San Francisco, California.
Key Highlights
- Vacant freestanding duplex with 3,027 square feet on a 0.0402‑acre double lot
- Upper residence includes 4 bedrooms, 2 full bathrooms, a bonus room, and multiple outdoor areas
- Separate lower unit has 2 bedrooms, 1 bathroom, and a 2021 remodel
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences include a remodeled lower unit, private exterior areas, and driveway parking.
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: Vacant freestanding duplex with 3,027 square feet on a 0.0402‑acre double lot; Upper residence includes 4 bedrooms, 2 full bathrooms, a bonus room, and multiple outdoor areas; Separate lower unit has 2 bedrooms, 1 bathroom, and a 2021 remodel
