Updated Two-Unit
For Sale
$4,490,000
176-178 Parker Avenue, San Francisco, CA 94118
Residential Income, San Francisco, CA
Property Size4,382 SF
Lot Size0.07 Acres
Price / SF$1,024
Days on Market32
Property Features for 176-178 Parker Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 4, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 2, Bathroom 4, Bedroom 7, Bedroom 8, Bedroom 2, Bathroom 3, Bedroom 9, Bathroom 6, Bathroom 5, Bathroom 7, Bedroom 3, Bathroom 1
Subdivision
SF District 1
Standard status
Active
APN
1065029
Size
4,382 SF
Lot size
0.07 Acres
Amenities
shared yard
Building Details
Year built
1935
Number of units
2
Listing Agency:
Compass
(415) 660-9955
Listed By:
John L Townsend
(415) 601-2227
Added: Sep 1
Changed: Oct 1
Last Checked: Oct 2 at 7:06PM
MLS# 426163955
Copyright © 2026 San Francisco Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1935 duplex contains 4,382 square feet across two residences planned for condominium recording at close of escrow. The lower home at 176 Parker Avenue spans two levels with 5 bedrooms and 4 bathrooms, including a family room, primary suite, laundry, walk-in storage, one-car garage parking, and an exclusive-use patio. The upper home at 178 Parker Avenue provides 4 bedrooms and 3 bathrooms, along with an open living and dining area, fireplace, eat-in kitchen with Bertazzoni appliances, laundry, garage parking, storage, roof rights, and shared-yard access.
Building improvements include a new roof, updated electrical systems, recessed lighting, and seismic work. The 0.0654-acre parcel includes a landscaped shared rear yard. The property is located near Laurel Village, the Clement Street Farmers Market, Sacramento Street, Fillmore Street, and multiple local transportation lines in San Francisco’s Jordan Park and Laurel Heights area.
The residences may be sold separately or together, with the two homes offering a combined 9 bedrooms and 7 bathrooms.
Building improvements include a new roof, updated electrical systems, recessed lighting, and seismic work. The 0.0654-acre parcel includes a landscaped shared rear yard. The property is located near Laurel Village, the Clement Street Farmers Market, Sacramento Street, Fillmore Street, and multiple local transportation lines in San Francisco’s Jordan Park and Laurel Heights area.
The residences may be sold separately or together, with the two homes offering a combined 9 bedrooms and 7 bathrooms.
Key Highlights
- 4,382‑square‑foot duplex on a 0.0654‑acre parcel
- Two residences with 5 bedrooms and 4 bathrooms, plus 4 bedrooms and 3 bathrooms
- Extensively updated with a new roof, electrical improvements, recessed lighting, and seismic upgrades
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
$155,734
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
3.47%
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%
$3,114,680
$3.1M
Cap Rate 7%
$2,224,771
$2.2M
Cap Rate 9%
$1,730,378
$1.7M
Market Conditions
NOI Build-Up for 4,382 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
$236.6K $54.00/SF
− Vacancy
−$14.2K −$3.23/SF
EGI
$222.5K $50.77/SF
− OpEx
−$66.7K −$15.23/SF
NOI
$155.7K $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%
$3,114,680
Cap Rate 7%
$2,224,771
Cap Rate 9%
$1,730,378
Alternative Uses
Best Use
Multifamily LT 5
$2.22M
$1.95M – $2.60M
NOI $155,734 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$2.03M
$1.78M – $2.37M
NOI $142,271 @ 7.0% cap · market cap 3.17%
Theoretical Best
Specialty Retail
$21.40M
$18.73M – $24.97M
NOI $1,498,299 @ 7.0% cap · market cap 33.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,163
Businesses Nearby
Explore this area
Business Placement
Demographics for 94118, CA
42,356
Population
19,052
Households
2.2
Avg Household Size
37
Median Age
72%
College-Educated
94%
High-School Grad
2.0 sq mi
ZIP Area
21,178
Density / Sq Mi
$159,550
Median Household Income
$92,946
Median Earnings
$2,695
Median Rent
$1,817,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two extensively renovated residences offer flexible layouts, private outdoor space, garage parking, and shared yard access.
Where is this duplex located?
The property is located at 176-178 Parker Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $4,490,000.
What are key features of this property?
This property features: 4,382‑square‑foot duplex on a 0.0654‑acre parcel; Two residences with 5 bedrooms and 4 bathrooms, plus 4 bedrooms and 3 bathrooms; Extensively updated with a new roof, electrical improvements, recessed lighting, and seismic upgrades
