One-Bedroom Flats
For Sale
Contact for pricing
Pending
1615-1621 Judah Street, San Francisco, CA 94122
Four one-bedroom flats are paired with separate garages and individual gas/electric metering in a maintained building.
Property Size3,640 SF
Days on Market770
Property Features for 1615-1621 Judah Street
General Information
Standard status
Pending
Size
3,640 SF
Total Parking Spaces
4
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
4
Listing Agency:
Coldwell Banker Commercial NRT San Francisco
Listed By:
Dan McGue · License #CA
Source:
Crexi
Added: Jul 30, 2024
Changed: Aug 8
Last Checked: Jul 24 at 2:35PM
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 Coldwell Banker Commercial NRT San Francisco
Investment Insights
Based on property information with market context.
This property is a quadplex containing four large one-bedroom flats. Units feature hardwood floors, period details, and ample natural light, with storage included throughout. The building also includes four single garages with storage, as well as two owner-occupied storage rooms. Utilities are separately metered for gas and electricity, and each unit has separate heat and hot water heaters. The property has 200 AMPs service, and the landlord pays for water.
Located on the corner of Judah Street and 21st Avenue in San Francisco’s Sunset District, the property is close to Golden Gate Park, Ocean Beach, Lands End, and UCSF Medical Center. Public transportation via Muni is described as being steps from the front door, and the property offers easy access to Highway 1 and Interstate 280.
The building presents a straightforward residential income configuration with separate tenant utility metering and on-site garage storage.
Located on the corner of Judah Street and 21st Avenue in San Francisco’s Sunset District, the property is close to Golden Gate Park, Ocean Beach, Lands End, and UCSF Medical Center. Public transportation via Muni is described as being steps from the front door, and the property offers easy access to Highway 1 and Interstate 280.
The building presents a straightforward residential income configuration with separate tenant utility metering and on-site garage storage.
Key Highlights
- Corner building at Judah & 21st Ave offers 4 large one‑bedroom flats with spacious layouts and hardwood floors
- Separately metered utilities: building is separately metered for gas and electricity, with separate heat and hot water heaters
- Includes 4 single garages with storage, plus 2 owner‑occupied storage rooms
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
$122,177
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
7.21%
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%
$2,443,540
$2.4M
Cap Rate 7%
$1,745,386
$1.7M
Cap Rate 9%
$1,357,522
$1.4M
Market Conditions
NOI Build-Up for 3,640 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
$185.6K $51.00/SF
− Vacancy
−$11.1K −$3.05/SF
EGI
$174.5K $47.95/SF
− OpEx
−$52.4K −$14.39/SF
NOI
$122.2K $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%
$2,443,540
Cap Rate 7%
$1,745,386
Cap Rate 9%
$1,357,522
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.04M
NOI $122,177 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,851 @ 7.0% cap · market cap 6.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,767
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?
Quadplex - Four one-bedroom flats are paired with separate garages and individual gas/electric metering in a maintained building.
Where is this quadplex located?
The property is located at 1615-1621 Judah Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Corner building at Judah & 21st Ave offers 4 large one‑bedroom flats with spacious layouts and hardwood floors; Separately metered utilities: building is separately metered for gas and electricity, with separate heat and hot water heaters; Includes 4 single garages with storage, plus 2 owner‑occupied storage rooms
