Bernal Heights Triplex
For Sale
Contact for pricing
Pending
1560-1564 Cortland Avenue, San Francisco, CA 94110
Three-unit building in Bernal Heights with income growth potential.
Property Size2,110 SF
Days on Market98
Property Features for 1560-1564 Cortland Avenue
General Information
Standard status
Pending
Size
2,110 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
RH-1
Occupancy
66%
Investment Type
Value Add
Net Operating Income
$30,681
Building Details
Year Built
1968
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Colliers - San Francisco, California
Listed By:
Ryan O'Keefe · License #02122038
Source:
Crexi
Added: May 25
Changed: Aug 8
Last Checked: Aug 28 at 7:38PM
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 Colliers - San Francisco, California
Investment Insights
Based on property information with market context.
Located in the heart of Bernal Heights, 1560-1564 Cortland Avenue offers a three-unit apartment building. The property is situated along the Cortland Avenue corridor, providing access to cafes, restaurants, boutique retail, public transportation, and commuter routes throughout San Francisco and the Peninsula. The building features three large one-bedroom, one-bathroom units and two on-site parking spaces. One unit is currently vacant and remodeled. Units feature functional layouts with natural light, updated finishes, wood-style flooring, modernized kitchens and bathrooms, skylights in select units, and closet space. The property offers income growth potential in a sought-after neighborhood rental market.
Key Highlights
- Prime Bernal Heights location on Cortland Avenue, offering high walkability and access to amenities.
- One vacant, remodeled 1 BD/1 BA unit provides immediate rental income potential or owner‑user opportunity.**
- Significant rental upside potential in a desirable San Francisco 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
$70,822
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
6.16%
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%
$1,416,440
$1.4M
Cap Rate 7%
$1,011,743
$1.0M
Cap Rate 9%
$786,911
$786.9K
Market Conditions
NOI Build-Up for 2,110 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
$107.6K $51.00/SF
− Vacancy
−$6.4K −$3.05/SF
EGI
$101.2K $47.95/SF
− OpEx
−$30.4K −$14.39/SF
NOI
$70.8K $33.57/SF
Area
ZIP 94110
Vacancy
5.98%
Lease Rate
$51.00 /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%
$1,416,440
Cap Rate 7%
$1,011,743
Cap Rate 9%
$786,911
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$885.3K – $1.18M
NOI $70,822 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$932.0K
$815.5K – $1.09M
NOI $65,243 @ 7.0% cap · market cap 5.67%
Theoretical Best
Specialty Retail
$10.31M
$9.02M – $12.02M
NOI $721,454 @ 7.0% cap · market cap 62.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,154
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?
Triplex - Three-unit building in Bernal Heights with income growth potential.
Where is this triplex located?
The property is located at 1560-1564 Cortland Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Prime Bernal Heights location on Cortland Avenue, offering high walkability and access to amenities.; One vacant, remodeled 1 BD/1 BA unit provides immediate rental income potential or owner‑user opportunity.**; Significant rental upside potential in a desirable San Francisco neighborhood.
