Nine-Unit Apartment
For Sale
$6,250,000
2901 Buchanan Street, San Francisco, CA 94123
Well-maintained residences feature updated kitchens, private storage, parking, and shared outdoor space.
Property Size9,810 SF
Price / SF$637.10
Days on Market38
Property Features for 2901 Buchanan Street
General Information
Standard status
Active
Size
9,810 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Units
Unit Mix
6 x 1BR/1BA, 3 x 2BR/1BA
Multifamily Units
9
Amenities
private storage units
bike storage
shared backyard
secure building access
Building Details
Year Built
1922
Buildings
1
Listing Agency:
Touchstone Commercial Partners Inc
(415) 275-0229
Listed By:
Readdress · License #01963487
(415) 275-0229
Source:
Readdress
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 26 at 12:52PM
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 Touchstone Commercial Partners Inc
Investment Insights
Based on property information with market context.
Built in 1922, this apartment property at 2901 Buchanan Street comprises nine residences: six one-bedroom, one-bath apartments and three two-bedroom, one-bath apartments. The building also includes six on-site parking spaces, seven private storage units, bike storage, and a shared backyard. Interior features include hardwood floors, formal dining rooms, large windows, natural light, and updated kitchens with shaker cabinetry, granite counters, stainless steel appliances, and dishwashers.
The property is in San Francisco’s Pacific Heights neighborhood, with Union Street, Fillmore Street, the Marina, and the Presidio nearby. Completed soft-story seismic improvements and controlled building entry are also in place. Together with the unit mix and ancillary amenities, these features provide a well-maintained multifamily configuration with substantial on-site support space.
The property is in San Francisco’s Pacific Heights neighborhood, with Union Street, Fillmore Street, the Marina, and the Presidio nearby. Completed soft-story seismic improvements and controlled building entry are also in place. Together with the unit mix and ancillary amenities, these features provide a well-maintained multifamily configuration with substantial on-site support space.
Key Highlights
- Nine apartments: six one‑bedroom, one‑bath units and three two‑bedroom, one‑bath units
- Six on‑site parking spaces and seven private storage units
- Built in 1922 with completed soft‑story seismic improvements
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
$318,502
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
5.10%
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%
$6,370,040
$6.4M
Cap Rate 7%
$4,550,029
$4.6M
Cap Rate 9%
$3,538,911
$3.5M
Market Conditions
NOI Build-Up for 9,810 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
$618.0K $63.00/SF
− Vacancy
−$38.9K −$3.97/SF
EGI
$579.1K $59.03/SF
− OpEx
−$260.6K −$26.56/SF
NOI
$318.5K $32.47/SF
Area
San Francisco, CA
Vacancy
6.30%
Lease Rate
$63.00 /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%
$6,370,040
Cap Rate 7%
$4,550,029
Cap Rate 9%
$3,538,911
Alternative Uses
Best Use
Apartment 5plus
$4.55M
$3.98M – $5.31M
NOI $318,502 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$47.92M
$41.93M – $55.90M
NOI $3,354,247 @ 7.0% cap · market cap 53.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
8,642
Businesses Nearby
Explore this area
Business Placement
Demographics for 94123, CA
26,131
Population
14,883
Households
1.8
Avg Household Size
35
Median Age
86%
College-Educated
98%
High-School Grad
1.1 sq mi
ZIP Area
23,755
Density / Sq Mi
$222,689
Median Household Income
$142,336
Median Earnings
$3,248
Median Rent
$2,000,001
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 - Well-maintained residences feature updated kitchens, private storage, parking, and shared outdoor space.
Where is this apartment building located?
The property is located at 2901 Buchanan Street San Francisco, CA.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Nine apartments: six one‑bedroom, one‑bath units and three two‑bedroom, one‑bath units; Six on‑site parking spaces and seven private storage units; Built in 1922 with completed soft‑story seismic improvements
