Victorian Triplex with Bay
For Sale
$3,495,000
Pending
321 Castro St, San Francisco, CA 94114
Three connected units feature private entries, new kitchens and bathrooms, tandem parking, storage, and flexible living arrangements.
Property Size3,370 SF
Days on Market1668
Property Features for 321 Castro St
General Information
Standard status
Pending
Size
3,370 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA, 1 x studio/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
hardwood floors
high ceilings
dual pane windows
soundproofing
Trex decking
chef's kitchens
quartz counters
stainless steel appliances
marble finishes
bay window dining nook
view deck
washer/dryer
sunroom
backyard view/access
landscaped backyard
natural light
dedicated heating units
Building Details
Buildings
1
Construction
Victorian
Listing Agency:
Intero Real Estate Services
(408) 342-3000
Listed By:
James S. Shin
(650) 862-7332
Source:
Exprealty
Added: Feb 8, 2022
Changed: Sep 2
Last Checked: Sep 2 at 12:44AM
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 Intero Real Estate Services
Investment Insights
Based on property information with market context.
This Victorian triplex combines three connected units with separate private entries and approximately 3370+/- SF of living space. The upper residence includes 3 bedrooms, 2 bathrooms, a chef’s kitchen, bay-window dining nook, living room, view deck, and washer/dryer. The street-level unit offers 2 bedrooms, 2 bathrooms, a sunroom, kitchen, living and dining areas, and laundry. A lower-level studio includes a bathroom, backyard access, and plumbing for a kitchenette.
Property features include hardwood floors, high ceilings, dual-pane windows, soundproofing, Trex decking, dedicated heating units, and abundant natural light. New kitchens include quartz counters, cabinetry, stainless sinks, and Bosch and stainless appliances; bathrooms have marble finishes, fixtures, and vanities. The property also includes landscaped backyard space, 2-car tandem parking, and storage. Located at 321 Castro St in San Francisco’s Castro-Duboce Triangle, the home is near The Castro, shops, cafes, bus service, Muni, and tech shuttles.
Property features include hardwood floors, high ceilings, dual-pane windows, soundproofing, Trex decking, dedicated heating units, and abundant natural light. New kitchens include quartz counters, cabinetry, stainless sinks, and Bosch and stainless appliances; bathrooms have marble finishes, fixtures, and vanities. The property also includes landscaped backyard space, 2-car tandem parking, and storage. Located at 321 Castro St in San Francisco’s Castro-Duboce Triangle, the home is near The Castro, shops, cafes, bus service, Muni, and tech shuttles.
Key Highlights
- Three connected units with separate private entries
- Approximately 3370+/- SF with 3 bedrooms upstairs, 2 bedrooms at street level, and a lower‑level studio
- 2‑car tandem parking plus storage
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
$119,768
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
3.43%
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%
$2,395,360
$2.4M
Cap Rate 7%
$1,710,971
$1.7M
Cap Rate 9%
$1,330,756
$1.3M
Market Conditions
NOI Build-Up for 3,370 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
$182.0K $54.00/SF
− Vacancy
−$10.9K −$3.23/SF
EGI
$171.1K $50.77/SF
− OpEx
−$51.3K −$15.23/SF
NOI
$119.8K $35.54/SF
Area
San Francisco, CA
Vacancy
5.98%
Lease Rate
$54.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,395,360
Cap Rate 7%
$1,710,971
Cap Rate 9%
$1,330,756
Alternative Uses
Best Use
Multifamily LT 5
$1.71M
$1.50M – $2.00M
NOI $119,768 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$1.56M
$1.37M – $1.82M
NOI $109,414 @ 7.0% cap · market cap 3.13%
Theoretical Best
Specialty Retail
$16.46M
$14.40M – $19.20M
NOI $1,152,275 @ 7.0% cap · market cap 32.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 94114, CA
33,683
Population
18,686
Households
1.8
Avg Household Size
40
Median Age
79%
College-Educated
98%
High-School Grad
1.4 sq mi
ZIP Area
24,059
Density / Sq Mi
$196,528
Median Household Income
$117,677
Median Earnings
$2,898
Median Rent
$1,771,700
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?
Triplex - Three connected units feature private entries, new kitchens and bathrooms, tandem parking, storage, and flexible living arrangements.
Where is this triplex located?
The property is located at 321 Castro St San Francisco, CA.
What is the asking price?
The asking price for this property is $3,495,000.
What are key features of this property?
This property features: Three connected units with separate private entries; Approximately 3370+/- SF with 3 bedrooms upstairs, 2 bedrooms at street level, and a lower‑level studio; 2‑car tandem parking plus storage
