Rebuilt Two-Unit
New
For Sale
$4,200,000
1460-1462 Waller Street, San Francisco, CA 94117
Two fully renovated residences offer substantial layouts, private outdoor space, and shared backyard access.
Property Size5,181 SF
Price / SF$810.65
Days on Market6
Property Features for 1460-1462 Waller Street
General Information
Standard status
Active
Size
5,181 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/3BA, 1 x 4BR/3BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Amenities
shared backyard
private deck
new kitchens with Thermador appliances and Cambria quartz counters
wide-plank white oak floors
Ethernet wiring
air conditioning
Building Details
Building Size
5,181 SF
Year Built
1904
Buildings
1
Stories
2
Listing Agency:
City Real Estate
Listed By:
Lisa Zahner · License #02018164
Source:
Cityrealestatesf
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 10 at 9:25AM
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 City Real Estate
Investment Insights
Based on property information with market context.
This duplex comprises two independent residences, each arranged across two levels and rebuilt from the foundation through the interior finishes. The lower home includes 3BR/3BA, an office, 2,500 SF, a primary suite with soaking tub, and backyard access. The upper residence provides 4BR/3BA, a bonus room, 2,600 SF, and a primary suite with peaked ceilings and a walk-in closet. Both homes feature Thermador-equipped kitchens, Cambria quartz counters, wide-plank white oak flooring, private decks, and access to a large shared backyard.
Major systems include new electrical, plumbing, foundation, and roof work, along with full sprinkler coverage, air conditioning, and Ethernet wiring in each room. Pre-paid leased parking is provided in a private garage approximately half a block away. The property is within walking distance of Haight Street and Cole Valley cafés and shops, Golden Gate Park, Muni, and bike paths. The building was originally constructed in 1904, and a TIC agreement has been drafted for the offering.
Major systems include new electrical, plumbing, foundation, and roof work, along with full sprinkler coverage, air conditioning, and Ethernet wiring in each room. Pre-paid leased parking is provided in a private garage approximately half a block away. The property is within walking distance of Haight Street and Cole Valley cafés and shops, Golden Gate Park, Muni, and bike paths. The building was originally constructed in 1904, and a TIC agreement has been drafted for the offering.
Key Highlights
- Two residences with 3BR/3BA plus office downstairs and 4BR/3BA plus bonus room upstairs
- Lower home spans 2,500 SF; upper home spans 2,600 SF
- Rebuilt foundation, electrical, plumbing, roof, sprinkler system, and air conditioning
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
$184,130
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
4.38%
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%
$3,682,600
$3.7M
Cap Rate 7%
$2,630,429
$2.6M
Cap Rate 9%
$2,045,889
$2.0M
Market Conditions
NOI Build-Up for 5,181 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
$279.8K $54.00/SF
− Vacancy
−$16.7K −$3.23/SF
EGI
$263.0K $50.77/SF
− OpEx
−$78.9K −$15.23/SF
NOI
$184.1K $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%
$3,682,600
Cap Rate 7%
$2,630,429
Cap Rate 9%
$2,045,889
Alternative Uses
Best Use
Multifamily LT 5
$2.63M
$2.30M – $3.07M
NOI $184,130 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$2.40M
$2.10M – $2.80M
NOI $168,212 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$25.31M
$22.14M – $29.52M
NOI $1,771,494 @ 7.0% cap · market cap 42.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
6,240
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two fully renovated residences offer substantial layouts, private outdoor space, and shared backyard access.
Where is this duplex located?
The property is located at 1460-1462 Waller Street San Francisco, CA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Two residences with 3BR/3BA plus office downstairs and 4BR/3BA plus bonus room upstairs; Lower home spans 2,500 SF; upper home spans 2,600 SF; Rebuilt foundation, electrical, plumbing, roof, sprinkler system, and air conditioning
