Seven-Unit Apartment
New
For Sale
$2,950,000
1520 Leavenworth Street, San Francisco, CA 94109
Five residences feature renovated interiors, updated kitchens and baths, and in-unit laundry.
Property Size4,850 SF
Days on Market7
Property Features for 1520 Leavenworth Street
General Information
Standard status
Active
Size
4,850 SF
Property subtype
Multi Family
Units
Unit Mix
5 x 2BD/1BA, 1 x 1BD/1BA, 1 x studio
Multifamily Units
7
Additional Details
Utilities to Site
Yes
Building Details
Building Size
4,850 SF
Year Built
1906
Buildings
1
Listing Agency:
Engel & Voelkers San Francisco
Listed By:
Michael B Johnston
Source:
Swanngroupsf
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 22 at 10:59PM
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 Engel & Voelkers San Francisco
Investment Insights
Based on property information with market context.
Built in 1906, this 4,850-square-foot apartment property contains seven units with a practical mix of five 2BD/1BA apartments, one 1BD/1BA apartment, and one studio. Five units have been renovated with wood flooring, refreshed kitchens and bathrooms, updated fixtures and appliances, and in-unit laundry. Gas and electricity are separately metered by unit.
Recent property work includes a completed earthquake retrofit, new electrical panels, fire alarm sounders installed to City requirements, exterior painting, and improvements to shared areas. The building is located at 1520 Leavenworth Street in San Francisco, between Nob Hill and Russian Hill.
Recent property work includes a completed earthquake retrofit, new electrical panels, fire alarm sounders installed to City requirements, exterior painting, and improvements to shared areas. The building is located at 1520 Leavenworth Street in San Francisco, between Nob Hill and Russian Hill.
Key Highlights
- Seven‑unit apartment building totaling 4,850 SF
- Unit mix includes five 2BD/1BA units, one 1BD/1BA, and one studio
- Five units renovated with wood floors, updated kitchens and baths, appliances, and in‑unit laundry
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
$144,868
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
4.91%
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%
$2,897,360
$2.9M
Cap Rate 7%
$2,069,543
$2.1M
Cap Rate 9%
$1,609,644
$1.6M
Market Conditions
NOI Build-Up for 4,850 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
$281.1K $57.96/SF
− Vacancy
−$17.7K −$3.65/SF
EGI
$263.4K $54.31/SF
− OpEx
−$118.5K −$24.44/SF
NOI
$144.9K $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%
$2,897,360
Cap Rate 7%
$2,069,543
Cap Rate 9%
$1,609,644
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.41M
NOI $144,868 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$22.11M
$19.35M – $25.80M
NOI $1,547,764 @ 7.0% cap · market cap 52.47%
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
7
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
10,528
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 - Five residences feature renovated interiors, updated kitchens and baths, and in-unit laundry.
Where is this apartment building located?
The property is located at 1520 Leavenworth Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Seven‑unit apartment building totaling 4,850 SF; Unit mix includes five 2BD/1BA units, one 1BD/1BA, and one studio; Five units renovated with wood floors, updated kitchens and baths, appliances, and in‑unit laundry
