Nob Hill Multifamily Investment
For Sale
Contact for pricing
1338-1348 Larkin St, San Francisco, CA 94109
Well-located Nob Hill multifamily property with income upside.
Property Size8,949 SF
Price / SF$491.68
Days on Market1556
Property Features for 1338-1348 Larkin St
General Information
Standard status
Active
Size
8,949 SF
Total Parking Spaces
4
Property subtype
Multifamily
Net Operating Income
$194,051
Site & Location
Neighborhood
Tenderloin Heights
Building Details
Year Built
1909
Units
6
Listing Agency:
Touchstone Commercial Partners
Listed By:
Jaron Eliopoulos · License #CA 01975155
(415) 608-6336
Source:
Crexi
Added: Jul 26, 2022
Changed: Oct 25
Last Checked: Oct 28 at 8:36AM
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
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Investment Insights
Based on property information with market context.
The property at 1338-1348 Larkin Street features six units: three 3-bedroom, 2-bathroom units and three 2-bedroom, 2-bathroom units. The building has a total size of 8949 square feet. Five parking spaces are available in the ground floor garage. Located in the heart of Nob Hill, the property is near Trader Joe's and the bars and restaurants of the Polk Street corridor. The property is impeccably maintained and delivers stable in-place income with upside potential. Unit 1340 will be delivered vacant at close.
Key Highlights
- Prime Nob Hill location near Trader Joe's and Polk Street restaurants/bars.
- Six total units: three 3bd/2ba and three 2bd/2ba.
- Stable in‑place income with upside potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$267,304
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,346,080
$5.3M
Cap Rate 7%
$3,818,629
$3.8M
Cap Rate 9%
$2,970,044
$3.0M
Market Conditions
NOI Build-Up for 8,949 SF
Gross rent
$518.7K $57.96/SF
− Vacancy
−$32.7K −$3.65/SF
EGI
$486.0K $54.31/SF
− OpEx
−$218.7K −$24.44/SF
NOI
$267.3K $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 Rate 5%
$5,346,080
Cap Rate 7%
$3,818,629
Cap Rate 9%
$2,970,044
Alternative Uses
Best Use
Apartment 5plus
$3.82M
$3.34M – $4.46M
NOI $267,304 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$40.80M
$35.70M – $47.60M
NOI $2,855,863 @ 7.0% cap · market cap 64.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
14,443
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-located Nob Hill multifamily property with income upside.
Where is this apartment building located?
The property is located at 1338-1348 Larkin St San Francisco, CA.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Prime Nob Hill location near Trader Joe's and Polk Street restaurants/bars.; Six total units: three 3bd/2ba and three 2bd/2ba.; Stable in‑place income with upside potential.
