8-Unit Apartment
For Sale
$2,585,000
1311 48th Avenue, San Francisco, CA 94122
The property combines one-bedroom residences with on-site parking in San Francisco’s Outer Sunset neighborhood.
Property Size4,542 SF
Price / SF$569.13
Days on Market8
Property Features for 1311 48th Avenue
General Information
Standard status
Active
Size
4,542 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Compass
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Sep 13
Changed: Sep 19
Last Checked: Sep 19 at 9:34AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1960, this 4,542-square-foot apartment property contains eight 1-bedroom/1-bathroom units and eight parking spaces. Seven units are occupied, while Unit #2 is scheduled to be delivered vacant at the close of escrow. Parking utilization includes five spaces rented by building tenants and two leased to neighborhood residents.
The property is located at 1311 48th Avenue in San Francisco’s Outer Sunset, providing an established apartment configuration with supplemental parking leases. The combination of unit occupancy, a vacant unit at closing, and separate parking arrangements creates a clearly defined operating profile for review.
The property is located at 1311 48th Avenue in San Francisco’s Outer Sunset, providing an established apartment configuration with supplemental parking leases. The combination of unit occupancy, a vacant unit at closing, and separate parking arrangements creates a clearly defined operating profile for review.
Key Highlights
- Eight 1‑bedroom/1‑bathroom apartment units
- 4,542‑square‑foot building constructed in 1960
- Eight parking spaces included
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
$137,073
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
5.30%
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%
$2,741,460
$2.7M
Cap Rate 7%
$1,958,186
$2.0M
Cap Rate 9%
$1,523,033
$1.5M
Market Conditions
NOI Build-Up for 4,542 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
$266.0K $58.56/SF
− Vacancy
−$16.8K −$3.69/SF
EGI
$249.2K $54.87/SF
− OpEx
−$112.2K −$24.69/SF
NOI
$137.1K $30.18/SF
Area
ZIP 94122
Vacancy
6.30%
Lease Rate
$58.56 /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%
$2,741,460
Cap Rate 7%
$1,958,186
Cap Rate 9%
$1,523,033
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.28M
NOI $137,073 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.18M
$1.91M – $2.54M
NOI $152,453 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
467
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
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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?
Apartment building - The property combines one-bedroom residences with on-site parking in San Francisco’s Outer Sunset neighborhood.
Where is this apartment building located?
The property is located at 1311 48th Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $2,585,000.
What are key features of this property?
This property features: Eight 1‑bedroom/1‑bathroom apartment units; 4,542‑square‑foot building constructed in 1960; Eight parking spaces included
