Eight-Unit Apartment
For Sale
Contact for pricing
Pending
1668 Washington St, San Francisco, CA 94109
Multifamily property with renovated interiors, separately metered utilities, secure entry, and shared outdoor space.
Property Size5,146 SF
Days on Market155
Property Features for 1668 Washington St
General Information
Standard status
Pending
Size
5,146 SF
Property subtype
Multifamily
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
5 x 2BR, 1 x 1BR, 2 x studio
Multifamily Units
8
Amenities
shared backyard
laundry in select units
owner storage unit
secure entry system
Building Details
Year Built
1911
Buildings
1
Units
8
Listing Agency:
Colliers - San Francisco, California
Listed By:
Annie Evans · License #01963487
Source:
Crexi
Added: Mar 30
Changed: Aug 30
Last Checked: Aug 30 at 5:28AM
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.
This 1911 apartment building at 1668 Washington Street contains eight units across approximately 5,146 square feet. The mix includes five two-bedroom apartments, one one-bedroom apartment, and two studios. Several residences have updated kitchens with quartz countertops, refreshed cabinetry, gas appliances, renovated bathrooms, and strong natural light. Select units include laundry access, while an owner storage unit adds functional support space.
The property includes separately metered utilities, a compliant fire alarm system, secure building entry, and a shared backyard. Its Nob Hill setting places the building near Polk Street, Union Square, and major transit corridors, with access to surrounding dining, retail, and employment centers.
The property includes separately metered utilities, a compliant fire alarm system, secure building entry, and a shared backyard. Its Nob Hill setting places the building near Polk Street, Union Square, and major transit corridors, with access to surrounding dining, retail, and employment centers.
Key Highlights
- Eight units totaling approximately 5,146 square feet
- Unit mix: five two‑bedroom units, one one‑bedroom unit, and two studios
- Constructed in 1911 with several renovated units
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
$153,709
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
4.28%
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%
$3,074,180
$3.1M
Cap Rate 7%
$2,195,843
$2.2M
Cap Rate 9%
$1,707,878
$1.7M
Market Conditions
NOI Build-Up for 5,146 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
$298.3K $57.96/SF
− Vacancy
−$18.8K −$3.65/SF
EGI
$279.5K $54.31/SF
− OpEx
−$125.8K −$24.44/SF
NOI
$153.7K $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%
$3,074,180
Cap Rate 7%
$2,195,843
Cap Rate 9%
$1,707,878
Alternative Uses
Best Use
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,709 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$23.46M
$20.53M – $27.37M
NOI $1,642,225 @ 7.0% cap · market cap 45.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
10,978
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with renovated interiors, separately metered utilities, secure entry, and shared outdoor space.
Where is this apartment building located?
The property is located at 1668 Washington St San Francisco, CA.
What is the asking price?
The asking price for this property is $3,595,000.
What are key features of this property?
This property features: Eight units totaling approximately 5,146 square feet; Unit mix: five two‑bedroom units, one one‑bedroom unit, and two studios; Constructed in 1911 with several renovated units
