Three-Level Duplex with
New
For Sale
$1,500,000
1260 21st AVE, San Francisco, CA 94122
Duplex with flexible living areas, partial occupancy, garage parking, storage, and rear outdoor space.
Property Size3,606 SF
Price / SF$415.97
Days on Market5
Property Features for 1260 21st AVE
General Information
Standard status
Active
Size
3,606 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
opportunity to update
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
garage parking
storage
rear outdoor space
Building Details
Building Size
3,606 SF
Year Built
1921
Listing Agency:
Redfin
Listed By:
Ted Chen · License #02017553
(408) 316-5571
Source:
Mpireluxe
Added: Sep 3
Changed: Sep 7
Last Checked: Sep 7 at 6:32AM
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 Redfin
Investment Insights
Based on property information with market context.
Built in 1921, this duplex spans three levels and includes multiple bedrooms and bathrooms, substantial living areas, garage parking, storage, and rear outdoor space. Portions of the property have been renovated, while other areas remain available for updating and personalization.
One portion is occupied by a long-term tenant, while additional living areas are vacant. The property is near Golden Gate Park, Irving Street shops and restaurants, UCSF, the N-Judah Muni line, and neighborhood conveniences. Its configuration supports a range of ownership and occupancy arrangements, subject to buyer verification of square footage, configuration, permits, and use.
One portion is occupied by a long-term tenant, while additional living areas are vacant. The property is near Golden Gate Park, Irving Street shops and restaurants, UCSF, the N-Judah Muni line, and neighborhood conveniences. Its configuration supports a range of ownership and occupancy arrangements, subject to buyer verification of square footage, configuration, permits, and use.
Key Highlights
- Three‑level duplex built in 1921
- One portion occupied by a long‑term tenant; additional living areas are vacant
- Multiple bedrooms and bathrooms across expansive living areas
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
$121,036
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
8.07%
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%
$2,420,720
$2.4M
Cap Rate 7%
$1,729,086
$1.7M
Cap Rate 9%
$1,344,844
$1.3M
Market Conditions
NOI Build-Up for 3,606 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
$183.9K $51.00/SF
− Vacancy
−$11.0K −$3.05/SF
EGI
$172.9K $47.95/SF
− OpEx
−$51.9K −$14.39/SF
NOI
$121.0K $33.57/SF
Area
ZIP 94122
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%
$2,420,720
Cap Rate 7%
$1,729,086
Cap Rate 9%
$1,344,844
Alternative Uses
Best Use
Multifamily LT 5
$1.73M
$1.51M – $2.02M
NOI $121,036 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,825 @ 7.0% cap · market cap 7.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,458
Businesses Nearby
Explore this area
Business Placement
Demographics for 94122, CA
57,160
Population
24,155
Households
2.4
Avg Household Size
39
Median Age
63%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
17,321
Density / Sq Mi
$145,717
Median Household Income
$80,501
Median Earnings
$2,720
Median Rent
$1,507,100
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 - Duplex with flexible living areas, partial occupancy, garage parking, storage, and rear outdoor space.
Where is this duplex located?
The property is located at 1260 21st AVE San Francisco, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three‑level duplex built in 1921; One portion occupied by a long‑term tenant; additional living areas are vacant; Multiple bedrooms and bathrooms across expansive living areas
