Turnkey Renovated 5-Plex Near
For Sale
$4,400,000
1454 Van Ness Avenue, San Francisco, CA 94110
Renovated 5-unit property with strong income and convenient location.
Property Size5,697 SF
Price / SF$772.34
Days on Market272
Property Features for 1454 Van Ness Avenue
General Information
Standard status
Active
Size
5,697 SF
Property subtype
Commercial
Amenities
Central air
Ceiling Fan Cooling
Central Forced Air Heating
On Street
Building Details
Year Built
1960
Listing Agency:
COMPASS
(415) 345-3000
Listed By:
ISMAEL BENHAMIDA · License #01722847
Source:
Corcoran
Added: Dec 2, 2025
Changed: Aug 9
Last Checked: Aug 31 at 6:38PM
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 turnkey 5-plex, totaling 5,697 square feet, has undergone a renovation completed recently. The property features a current gross rent of $27,892 per month. It is located near AI tech companies. The unit mix includes two large units with 6 beds and 4 baths, measuring 1682 square feet and 1434 square feet, renting for $11,525 and $7,435 per month, respectively. There is also one 3-bed, 2-bath unit spanning 796 square feet, renting for $4,815 per month, and two 1-bed, 1-bath units measuring 427 square feet and 768 square feet, renting for $4,180 and $1,117 per month, respectively. A new luxurious furnished roof top deck is included. Each unit features a vaulted ceiling, large kitchen and living room, and a washer/dryer. A multi-year renovation project, which started in 2019, included new electrical wiring and a 400 amp service with new panels, gas, copper plumbing, paint, roof, and hallway finishes. The unit interiors were fully renovated with new walls and ceilings, subfloors, plank flooring, LED lighting, dual pane windows and doors. High-end kitchens are appointed with new quartz counters, cabinets, and appliances. Bathrooms have new vanities, bathtubs, showers, and plumbing fixtures. Rent levels are commensurate with newer construction properties. Tenants are high income and credit score professionals, with no past due rent or tenant disputes. Tenants reimburse for water, sewer, and trash. The property is suitable for both cash-flow and appreciation-minded investors.
Key Highlights
- Turnkey 5‑plex with $1.1M+ recent renovation.
- High current gross rent of $27,892/month.
- Located near AI tech companies.
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
$176,157
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
4.00%
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%
$3,523,140
$3.5M
Cap Rate 7%
$2,516,529
$2.5M
Cap Rate 9%
$1,957,300
$2.0M
Market Conditions
NOI Build-Up for 5,697 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
$341.8K $60.00/SF
− Vacancy
−$21.5K −$3.78/SF
EGI
$320.3K $56.22/SF
− OpEx
−$144.1K −$25.30/SF
NOI
$176.2K $30.92/SF
Area
ZIP 94110
Vacancy
6.30%
Lease Rate
$60.00 /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%
$3,523,140
Cap Rate 7%
$2,516,529
Cap Rate 9%
$1,957,300
Alternative Uses
Best Use
Apartment 5plus
$2.52M
$2.20M – $2.94M
NOI $176,157 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$27.83M
$24.35M – $32.47M
NOI $1,947,925 @ 7.0% cap · market cap 44.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,942
Businesses Nearby
Explore this area
Business Placement
Demographics for 94110, CA
68,336
Population
30,685
Households
2.2
Avg Household Size
38
Median Age
61%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
28,473
Density / Sq Mi
$152,403
Median Household Income
$80,431
Median Earnings
$2,404
Median Rent
$1,500,200
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 - Renovated 5-unit property with strong income and convenient location.
Where is this apartment building located?
The property is located at 1454 Van Ness Avenue 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: Turnkey 5‑plex with $1.1M+ recent renovation.; High current gross rent of $27,892/month.; Located near AI tech companies.
