Duplex with Lower-Level
New
For Sale
$1,345,000
15 Shields Street, San Francisco, CA 94132
Recently upgraded systems, two kitchens, and separate yard access serve the two living areas.
Property Size1,849 SF
Price / SF$727.42
Days on Market2
Property Features for 15 Shields Street
General Information
Standard status
Active
Size
1,849 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
built-in grill station
detached studio
EV charging outlet
Cat6 ethernet
Building Details
Year Built
1940
Year Renovated
2026
Listing Agency:
Compass
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Oct 1
Last Checked: Oct 1 at 2:43PM
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.
At 15 Shields Street, this 1,849-square-foot duplex pairs a two-bedroom, two-bath main residence with a legally established ground-floor unit. The lower unit includes a bedroom, a separate living room, a full kitchen, and one bath. The main kitchen connects to the dining room, while bedroom doors open onto a rear deck with stairs to the yard. Both living areas have direct outdoor access. The flat yard includes a built-in grill station and a detached shed configured as a studio.
The property underwent a 2026 remodel and received the City’s Certificate of Final Completion. Improvements include new wiring and plumbing, insulated walls, Samsung heat pumps, a hybrid heat pump water heater, Cat6 ethernet, Marvin Ultimate windows and doors, engineered hardwood floors, and Hansgrohe fixtures. An EV charging outlet is installed in the garage. The home is vacant and faces south, with views over the valley toward the Pacific Ocean.
Brooks Park and the Ocean Avenue retail and dining corridor are nearby. Stonestown Galleria, San Francisco State, and Balboa Park BART are a short drive away.
The property underwent a 2026 remodel and received the City’s Certificate of Final Completion. Improvements include new wiring and plumbing, insulated walls, Samsung heat pumps, a hybrid heat pump water heater, Cat6 ethernet, Marvin Ultimate windows and doors, engineered hardwood floors, and Hansgrohe fixtures. An EV charging outlet is installed in the garage. The home is vacant and faces south, with views over the valley toward the Pacific Ocean.
Brooks Park and the Ocean Avenue retail and dining corridor are nearby. Stonestown Galleria, San Francisco State, and Balboa Park BART are a short drive away.
Key Highlights
- Duplex with a two‑bedroom, two‑bath main residence and a separate legal ground‑floor unit
- 1,849 square feet; the lower unit has one bedroom, a living room, a full kitchen, and one bath
- 2026 remodel with new wiring and plumbing; City Certificate of Final Completion received
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
$65,713
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
4.89%
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%
$1,314,260
$1.3M
Cap Rate 7%
$938,757
$938.8K
Cap Rate 9%
$730,144
$730.1K
Market Conditions
NOI Build-Up for 1,849 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
$99.8K $54.00/SF
− Vacancy
−$6.0K −$3.23/SF
EGI
$93.9K $50.77/SF
− OpEx
−$28.2K −$15.23/SF
NOI
$65.7K $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%
$1,314,260
Cap Rate 7%
$938,757
Cap Rate 9%
$730,144
Alternative Uses
Best Use
Multifamily LT 5
$938.8K
$821.4K – $1.10M
NOI $65,713 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$857.6K
$750.4K – $1.00M
NOI $60,032 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$9.03M
$7.90M – $10.54M
NOI $632,212 @ 7.0% cap · market cap 47.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,197
Businesses Nearby
Explore this area
Business Placement
Demographics for 94132, CA
27,723
Population
11,913
Households
2.3
Avg Household Size
39
Median Age
59%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
8,943
Density / Sq Mi
$118,557
Median Household Income
$60,063
Median Earnings
$2,503
Median Rent
$1,458,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Recently upgraded systems, two kitchens, and separate yard access serve the two living areas.
Where is this duplex located?
The property is located at 15 Shields Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,345,000.
What are key features of this property?
This property features: Duplex with a two‑bedroom, two‑bath main residence and a separate legal ground‑floor unit; 1,849 square feet; the lower unit has one bedroom, a living room, a full kitchen, and one bath; 2026 remodel with new wiring and plumbing; City Certificate of Final Completion received
