Brick Duplex with
New
For Sale
$2,800,000
1355 Grove Street, San Francisco, CA 94117
Two residences share a substantial garage space, with private outdoor areas serving both homes.
Property Size5,710 SF
Price / SF$490.37
Days on Market2
Property Features for 1355 Grove Street
General Information
Standard status
Active
Size
5,710 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR, 1 x 4BR/2BA
Multifamily Units
2
Amenities
private roof deck
outdoor patio
Building Details
Year Built
1915
Year Renovated
1988
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Oct 1
Last Checked: Oct 1 at 2:34PM
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.
This 5,710-square-foot brick property was built in 1915, seismically retrofitted, and converted to residential use in 1988. It contains two residences and a large garage space, with exposed brick, high ceilings, and original architectural details. The front home has one bedroom, an open-plan layout, and a private roof deck. The rear residence spans two levels and includes four bedrooms, two bathrooms, an open kitchen and living area, and a central patio accessible from the living room and two bedrooms.
The property is on Grove Street, half a block from the Divisadero corridor, where restaurants, cafés, shops, and other amenities are located. The two homes provide distinct residential layouts, complemented by outdoor space and the garage area.
The property is on Grove Street, half a block from the Divisadero corridor, where restaurants, cafés, shops, and other amenities are located. The two homes provide distinct residential layouts, complemented by outdoor space and the garage area.
Key Highlights
- 5,710‑square‑foot brick property built in 1915
- Two residences: a one‑bedroom home and a four‑bedroom, two‑bathroom home
- Converted to residential use in 1988 and seismically retrofitted
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
$202,931
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
7.25%
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%
$4,058,620
$4.1M
Cap Rate 7%
$2,899,014
$2.9M
Cap Rate 9%
$2,254,789
$2.3M
Market Conditions
NOI Build-Up for 5,710 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
$308.3K $54.00/SF
− Vacancy
−$18.4K −$3.23/SF
EGI
$289.9K $50.77/SF
− OpEx
−$87.0K −$15.23/SF
NOI
$202.9K $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%
$4,058,620
Cap Rate 7%
$2,899,014
Cap Rate 9%
$2,254,789
Alternative Uses
Best Use
Multifamily LT 5
$2.90M
$2.54M – $3.38M
NOI $202,931 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$2.65M
$2.32M – $3.09M
NOI $185,387 @ 7.0% cap · market cap 6.62%
Theoretical Best
Specialty Retail
$27.89M
$24.40M – $32.54M
NOI $1,952,370 @ 7.0% cap · market cap 69.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 94117, CA
38,451
Population
19,709
Households
2
Avg Household Size
36
Median Age
78%
College-Educated
96%
High-School Grad
1.3 sq mi
ZIP Area
29,578
Density / Sq Mi
$175,096
Median Household Income
$106,542
Median Earnings
$2,786
Median Rent
$1,641,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences share a substantial garage space, with private outdoor areas serving both homes.
Where is this duplex located?
The property is located at 1355 Grove Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 5,710‑square‑foot brick property built in 1915; Two residences: a one‑bedroom home and a four‑bedroom, two‑bathroom home; Converted to residential use in 1988 and seismically retrofitted
