Mixed-Unit Multifamily
For Sale
$4,400,000
1338 Larkin Street, San Francisco, CA 94109
Fee simple sale of a multifamily building with three 3-bedroom units and three 2-bedroom units plus ground-floor garage parking.
Property Size8,949 SF
Days on Market635
Property Features for 1338 Larkin Street
General Information
Standard status
Active
Size
8,949 SF
Total Parking Spaces
5
Property subtype
Multi Family
Site & Location
Neighborhood
Tenderloin Heights
Additional Details
Business Included
Yes
Multifamily Units
6
Building Details
Building Size
8,949 SF
Year Built
1909
Tenancy
Multi
Listing Agency:
Touchstone Commercial Partners Inc.
Listed By:
Robert Mann · License #01112906
(415) 989-1200
Source:
Elevationrealestate
Added: Jan 31, 2025
Changed: Oct 25
Last Checked: Oct 27 at 12:21AM
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.
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Investment Insights
Based on property information with market context.
This fee simple multifamily offering includes 1338–1348 Larkin Street, comprised of three 3-bedroom/2-bath units and three 2-bedroom/2-bath units. The property features a ground-floor garage with five parking spaces. Public remarks indicate the building is maintained, and unit 1340 is expected to be delivered at close.
The building is described as being around the corner from Trader Joe’s and steps to bars and restaurants along the Polk Street corridor, positioned in the heart of Nob Hill.
With a mix of unit sizes and on-site garage parking, the property provides a straightforward income-producing configuration for an investor looking to acquire a multi-unit residential asset.
The building is described as being around the corner from Trader Joe’s and steps to bars and restaurants along the Polk Street corridor, positioned in the heart of Nob Hill.
With a mix of unit sizes and on-site garage parking, the property provides a straightforward income-producing configuration for an investor looking to acquire a multi-unit residential asset.
Key Highlights
- Fee simple sale of a multifamily building built in 1909
- Six units total: three 3bd/2ba units and three 2bd/2ba units
- Ground‑floor garage includes five parking spaces
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.
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Open Analytics
Lease Details
6
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
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 - Fee simple sale of a multifamily building with three 3-bedroom units and three 2-bedroom units plus ground-floor garage parking.
Where is this apartment building located?
The property is located at 1338 Larkin Street 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: Fee simple sale of a multifamily building built in 1909; Six units total: three 3bd/2ba units and three 2bd/2ba units; Ground‑floor garage includes five parking spaces
