13-Unit Apartment
For Sale
$3,000,000
1520 California Street, San Francisco, CA 94109
The unit mix includes studios and one-bedroom apartments, plus a penthouse studio with a deck.
Property Size5,649 SF
Days on Market8
Property Features for 1520 California Street
General Information
Standard status
Active
Size
5,649 SF
Property subtype
Multi Family
Units
Unit Mix
3 x 1BR, 10 x studio
Multifamily Units
13
Additional Details
Utilities to Site
Yes
Building Details
Building Size
5,649 SF
Year Built
1908
Buildings
1
Listing Agency:
Coldwell Banker Commercial Realty
Listed By:
Dan McGue
(415) 474-1750
Source:
Adelaidamejiasf
Added: Sep 25
Changed: Sep 28
Last Checked: Oct 1 at 6:17PM
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 Coldwell Banker Commercial Realty
Investment Insights
Based on property information with market context.
Built in 1908, this San Francisco apartment property contains 13 residences: 10 studios and three one-bedroom apartments. One studio occupies the penthouse level and has a deck with views. Unit updates vary; select apartments retain hardwood floors, built-in cabinetry, and bay windows. Gas and electricity are separately metered, while the owner supplies steam heat and covers water and trash.
The building is at 1520 California Street in the Nob Hill neighborhood. Its apartment mix and range of interior features are complemented by natural light in the units.
The building is at 1520 California Street in the Nob Hill neighborhood. Its apartment mix and range of interior features are complemented by natural light in the units.
Key Highlights
- 13 apartments: 10 studios and three one‑bedroom units
- Penthouse studio has a deck and views
- Built in 1908 at 1520 California Street in San Francisco’s Nob Hill neighborhood
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
$168,734
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
5.62%
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%
$3,374,680
$3.4M
Cap Rate 7%
$2,410,486
$2.4M
Cap Rate 9%
$1,874,822
$1.9M
Market Conditions
NOI Build-Up for 5,649 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
$327.4K $57.96/SF
− Vacancy
−$20.6K −$3.65/SF
EGI
$306.8K $54.31/SF
− OpEx
−$138.1K −$24.44/SF
NOI
$168.7K $29.87/SF
Area
ZIP 94109
Vacancy
6.30%
Lease Rate
$57.96 /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%
$3,374,680
Cap Rate 7%
$2,410,486
Cap Rate 9%
$1,874,822
Alternative Uses
Best Use
Apartment 5plus
$2.41M
$2.11M – $2.81M
NOI $168,734 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$25.75M
$22.53M – $30.05M
NOI $1,802,746 @ 7.0% cap · market cap 60.09%
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
13
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
14,443
Businesses Nearby
Explore this area
Business Placement
Demographics for 94109, CA
58,501
Population
39,043
Households
1.5
Avg Household Size
38
Median Age
65%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
53,183
Density / Sq Mi
$112,201
Median Household Income
$89,841
Median Earnings
$2,172
Median Rent
$1,390,000
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?
Apartment building - The unit mix includes studios and one-bedroom apartments, plus a penthouse studio with a deck.
Where is this apartment building located?
The property is located at 1520 California Street San Francisco, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 13 apartments: 10 studios and three one‑bedroom units; Penthouse studio has a deck and views; Built in 1908 at 1520 California Street in San Francisco’s Nob Hill neighborhood
