15-Unit Apartment
For Sale
$4,100,000
1062 Sutter Street, San Francisco, CA 94109
Classic period details, secure entry, and on-site laundry support tenant convenience in a transit-oriented San Francisco property.
Property Size8,888 SF
Price / SF$461.30
Days on Market116
Property Features for 1062 Sutter Street
General Information
Standard status
Active
Size
8,888 SF
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
12 x studio, 2 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
15
Amenities
secure entry system
on-site laundry
Building Details
Building Size
8,888 SF
Year Built
1922
Buildings
1
Listing Agency:
Colliers International
(415) 788-3100
Listed By:
Dustin Dolby · License #01963487
Source:
Cityrealestatesf
Added: May 7
Changed: Aug 30
Last Checked: Jul 20 at 4:01PM
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 Colliers International
Investment Insights
Based on property information with market context.
Built in 1922, this 15-unit apartment building contains approximately 8,888 square feet with a varied residential configuration: 12 studios, 2 one-bedroom/one-bath units, and 1 three-bedroom/two-bath unit. Interior details include hardwood floors, large windows, and period character, while select apartments feature updated kitchens with granite counters, wood cabinetry, stainless steel appliances, and refreshed bathrooms. The property also offers secure entry, on-site laundry, front and rear fire escapes, and separate gas and electric metering. San Francisco Fire Alarm Sleeping Room Ordinance compliance has been completed.
The building is located at 1062 Sutter Street in the Lower Nob Hill neighborhood, near Polk Street, Union Square, and the Financial District. Public transportation, dining, retail, and employment centers are all nearby. A significant portion of the current rent roll is below market, and the property includes units with completed upgrades as well as apartments retaining classic interior features.
The building is located at 1062 Sutter Street in the Lower Nob Hill neighborhood, near Polk Street, Union Square, and the Financial District. Public transportation, dining, retail, and employment centers are all nearby. A significant portion of the current rent roll is below market, and the property includes units with completed upgrades as well as apartments retaining classic interior features.
Key Highlights
- 15‑unit apartment building at 1062 Sutter Street in San Francisco’s Lower Nob Hill neighborhood
- Approximately 8,888 square feet; constructed in 1922
- Unit mix includes 12 studios, 2 one‑bedroom/one‑bath units, and 1 three‑bedroom/two‑bath unit
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
$265,482
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
6.48%
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%
$5,309,640
$5.3M
Cap Rate 7%
$3,792,600
$3.8M
Cap Rate 9%
$2,949,800
$2.9M
Market Conditions
NOI Build-Up for 8,888 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
$515.1K $57.96/SF
− Vacancy
−$32.5K −$3.65/SF
EGI
$482.7K $54.31/SF
− OpEx
−$217.2K −$24.44/SF
NOI
$265.5K $29.87/SF
Area
ZIP 94109
Vacancy
6.30%
Lease Rate
$57.96 /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%
$5,309,640
Cap Rate 7%
$3,792,600
Cap Rate 9%
$2,949,800
Alternative Uses
Best Use
Apartment 5plus
$3.79M
$3.32M – $4.42M
NOI $265,482 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$40.52M
$35.45M – $47.27M
NOI $2,836,396 @ 7.0% cap · market cap 69.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
15,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 94109, CA
58,501
Population
39,043
Households
1.5
Avg Household Size
38
Median Age
65%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
53,183
Density / Sq Mi
$112,201
Median Household Income
$89,841
Median Earnings
$2,172
Median Rent
$1,390,000
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?
Apartment building - Classic period details, secure entry, and on-site laundry support tenant convenience in a transit-oriented San Francisco property.
Where is this apartment building located?
The property is located at 1062 Sutter Street San Francisco, CA.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: 15‑unit apartment building at 1062 Sutter Street in San Francisco’s Lower Nob Hill neighborhood; Approximately 8,888 square feet; constructed in 1922; Unit mix includes 12 studios, 2 one‑bedroom/one‑bath units, and 1 three‑bedroom/two‑bath unit
