Four-Unit Residential
For Sale
$2,199,000
Pending
1012 Page St, San Francisco, CA 94117
Fully leased four-unit building offered for sale.
Property Size3,780 SF
Days on Market186
Property Features for 1012 Page St
General Information
Standard status
Pending
Size
3,780 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Year Built
1908
Tenancy
Multi
Listing Agency:
COMMUNITY REALTY & INVESTMENTS
Listed By:
Erica Marr · License #01274733
(510) 562-5053
Source:
Exitrealty
Added: Mar 6
Changed: Sep 2
Last Checked: Sep 7 at 7:26AM
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 COMMUNITY REALTY & INVESTMENTS
Investment Insights
Based on property information with market context.
This offering is a fully leased four-unit residential building. The property is presented as a stabilized, income-producing asset with all units currently leased.
The building is located at 1012 Page St in San Francisco, CA 94117. Public remarks also note a Walk Score of 99, a Transit Score of 96, and a Bike Score of 94.
As described, the configuration is a quadplex style structure with four separate residential units, providing an ownership setup centered on in-place occupancy.
The building is located at 1012 Page St in San Francisco, CA 94117. Public remarks also note a Walk Score of 99, a Transit Score of 96, and a Bike Score of 94.
As described, the configuration is a quadplex style structure with four separate residential units, providing an ownership setup centered on in-place occupancy.
Key Highlights
- Fully leased 4‑unit building
- Built in 1908
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
$134,340
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
6.11%
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%
$2,686,800
$2.7M
Cap Rate 7%
$1,919,143
$1.9M
Cap Rate 9%
$1,492,667
$1.5M
Market Conditions
NOI Build-Up for 3,780 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
$204.1K $54.00/SF
− Vacancy
−$12.2K −$3.23/SF
EGI
$191.9K $50.77/SF
− OpEx
−$57.6K −$15.23/SF
NOI
$134.3K $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%
$2,686,800
Cap Rate 7%
$1,919,143
Cap Rate 9%
$1,492,667
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,340 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$1.75M
$1.53M – $2.05M
NOI $122,725 @ 7.0% cap · market cap 5.58%
Theoretical Best
Specialty Retail
$18.46M
$16.16M – $21.54M
NOI $1,292,462 @ 7.0% cap · market cap 58.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 94117, CA
38,451
Population
19,709
Households
2
Avg Household Size
36
Median Age
78%
College-Educated
96%
High-School Grad
1.3 sq mi
ZIP Area
29,578
Density / Sq Mi
$175,096
Median Household Income
$106,542
Median Earnings
$2,786
Median Rent
$1,641,400
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?
Quadplex - Fully leased four-unit building offered for sale.
Where is this quadplex located?
The property is located at 1012 Page St San Francisco, CA.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Fully leased 4‑unit building; Built in 1908
