Six-Unit Apartment
New
For Sale
$1,800,000
1324 Pine St, San Francisco, CA 94109
Seismic work and electrical upgrades enhance this established apartment property near Polk Street amenities.
Property Size4,500 SF
Days on Market4
Property Features for 1324 Pine St
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
1
Property subtype
Investment
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Building Details
Building Size
4,500 SF
Year Built
1914
Units
6
Listing Agency:
Compass
Listed By:
Marshall P Ward · License #01919391
(415) 532-3161
Source:
Elliman
Added: Sep 18
Last Checked: Sep 20 at 9:49AM
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 1914, this San Francisco apartment property contains six one-bedroom, one-bathroom units and a tandem garage space with extended length. The improvements include a seismic retrofit, new electrical panels serving each apartment, and a new main electrical panel. Three units have been updated, while the other three remain in their existing condition.
The property is at 1324 Pine St, adjacent to Trader Joe’s and within walking distance of the shops, restaurants, and amenities along Polk Street. Walk Score is 99, Transit Score is 93, and Bike Score is 82, providing strong access to nearby services and transportation options.
The property is at 1324 Pine St, adjacent to Trader Joe’s and within walking distance of the shops, restaurants, and amenities along Polk Street. Walk Score is 99, Transit Score is 93, and Bike Score is 82, providing strong access to nearby services and transportation options.
Key Highlights
- Six one‑bedroom, one‑bathroom apartments
- Seismic retrofit completed
- New electrical panels in all units plus a new main panel
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
$134,414
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
7.47%
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%
$2,688,280
$2.7M
Cap Rate 7%
$1,920,200
$1.9M
Cap Rate 9%
$1,493,489
$1.5M
Market Conditions
NOI Build-Up for 4,500 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
$260.8K $57.96/SF
− Vacancy
−$16.4K −$3.65/SF
EGI
$244.4K $54.31/SF
− OpEx
−$110.0K −$24.44/SF
NOI
$134.4K $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%
$2,688,280
Cap Rate 7%
$1,920,200
Cap Rate 9%
$1,493,489
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,414 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$20.52M
$17.95M – $23.93M
NOI $1,436,069 @ 7.0% cap · market cap 79.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
14,443
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Seismic work and electrical upgrades enhance this established apartment property near Polk Street amenities.
Where is this apartment building located?
The property is located at 1324 Pine St San Francisco, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Six one‑bedroom, one‑bathroom apartments; Seismic retrofit completed; New electrical panels in all units plus a new main panel
