Six-Unit Apartment
For Sale
$1,950,000
132 Duncan Street San, San Francisco, CA 94110
Two-story residential building with private storage, parking, and a mix of one- and two-bedroom units.
Property Size4,070 SF
Days on Market67
Property Features for 132 Duncan Street San
General Information
Standard status
Active
Size
4,070 SF
Property subtype
Multi-Family
Amenities
Dishwasher
Free-Standing Gas Range
Free-Standing Refrigerator
Gas Water Heater
Composition
Building Details
Building Size
4,070 SF
Year Built
1964
Listing Agency:
Colliers International
(415) 788-3100
Listed By:
Dustin Dolby · License #01963487
Source:
Kw
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 1:42PM
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.
This two-story apartment building contains six residential units within approximately 4,070 square feet. The 1964 wood-frame structure has a stucco exterior and concrete foundation, with four one-bedroom, one-bath residences and two two-bedroom, one-bath residences. Six parking spaces and seven individual storage areas serve the property. Interior details include hardwood floors in living spaces, tile kitchen countertops, wood cabinetry, tub-shower bathroom configurations, and freestanding gas ranges and refrigerators. A gas water heater and upgraded plumbing lines are also in place.
The property occupies a mid-block site at 132 Duncan Street in San Francisco’s Noe Valley neighborhood. Residents can walk to the 24th Street commercial corridor, while nearby transportation includes the J-Church Muni line, the 24th Street BART station, and several corporate shuttle stops. Grocery stores, restaurants, and banks are located along the nearby commercial corridor.
The property occupies a mid-block site at 132 Duncan Street in San Francisco’s Noe Valley neighborhood. Residents can walk to the 24th Street commercial corridor, while nearby transportation includes the J-Church Muni line, the 24th Street BART station, and several corporate shuttle stops. Grocery stores, restaurants, and banks are located along the nearby commercial corridor.
Key Highlights
- Six residential units: four one‑bedroom/one‑bath and two two‑bedroom/one‑bath residences
- Approximately 4,070 square feet in a two‑story apartment structure built in 1964
- Six parking spaces and seven individual storage 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
$125,848
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
6.45%
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%
$2,516,960
$2.5M
Cap Rate 7%
$1,797,829
$1.8M
Cap Rate 9%
$1,398,311
$1.4M
Market Conditions
NOI Build-Up for 4,070 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
$244.2K $60.00/SF
− Vacancy
−$15.4K −$3.78/SF
EGI
$228.8K $56.22/SF
− OpEx
−$103.0K −$25.30/SF
NOI
$125.8K $30.92/SF
Area
ZIP 94110
Vacancy
6.30%
Lease Rate
$60.00 /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%
$2,516,960
Cap Rate 7%
$1,797,829
Cap Rate 9%
$1,398,311
Alternative Uses
Best Use
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,848 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$19.88M
$17.40M – $23.19M
NOI $1,391,619 @ 7.0% cap · market cap 71.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 94110, CA
68,336
Population
30,685
Households
2.2
Avg Household Size
38
Median Age
61%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
28,473
Density / Sq Mi
$152,403
Median Household Income
$80,431
Median Earnings
$2,404
Median Rent
$1,500,200
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 - Two-story residential building with private storage, parking, and a mix of one- and two-bedroom units.
Where is this apartment building located?
The property is located at 132 Duncan Street San San Francisco, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Six residential units: four one‑bedroom/one‑bath and two two‑bedroom/one‑bath residences; Approximately 4,070 square feet in a two‑story apartment structure built in 1964; Six parking spaces and seven individual storage areas
