Multifamily Property in NOPA
For Sale
Contact for pricing
1821 Oak St., San Francisco, CA 94117
Well-maintained five-unit apartment building in San Francisco's NOPA neighborhood.
Property Size4,457 SF
Price / SF$493.61
Days on Market106
Property Features for 1821 Oak St.
General Information
Standard status
Active
Size
4,457 SF
Total Parking Spaces
1
Property subtype
Multifamily
Zoning
RM-2
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$103,194
Building Details
Year Built
1900
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
Engel & Volkers Commercial - Pacific West Advisory Group
Listed By:
Michael Johnston · License #CA 01370461
Source:
Crexi
Added: May 20
Changed: Aug 8
Last Checked: Aug 31 at 4:09PM
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 & Volkers Commercial - Pacific West Advisory Group
Investment Insights
Based on property information with market context.
Located in the heart of San Francisco's NOPA neighborhood, 1821 Oak Street is a well-maintained five-unit apartment building. The property features three 2-bedroom/1-bath units, one 1-bedroom/1-bath unit, and one studio apartment, totaling approximately 4,457 square feet. The building is fully occupied and professionally managed, providing stable in-place income with future rental upside potential. The property has completed earthquake retrofit work, updated electrical systems, and separate gas and electric metering for each unit. Several apartments have been remodeled with updated kitchens and baths while maintaining bright, spacious, and functional layouts. A large landscaped rear yard provides an uncommon outdoor amenity for tenants, including direct access from the expansive ground-floor flat. Additional features include a large one-car garage and dedicated tenant storage areas. The property is situated steps from the Panhandle and within close proximity to Golden Gate Park. Residents enjoy convenient access to popular neighborhood cafes, restaurants, grocery stores, and retail along Divisadero Street and nearby Haight Street. The property also benefits from excellent public transportation options and easy connectivity to Downtown San Francisco, UCSF, and major commuter routes.
Key Highlights
- Located in the highly desirable NOPA neighborhood of San Francisco, known for its strong tenant demand and convenient access to amenities.
- Well‑maintained five‑unit apartment building with stable in‑place income and future rental upside potential.
- Extensive system and capital improvements, including completed earthquake retrofit and updated electrical systems.**
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
$144,706
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
6.58%
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%
$2,894,120
$2.9M
Cap Rate 7%
$2,067,229
$2.1M
Cap Rate 9%
$1,607,844
$1.6M
Market Conditions
NOI Build-Up for 4,457 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
$280.8K $63.00/SF
− Vacancy
−$17.7K −$3.97/SF
EGI
$263.1K $59.03/SF
− OpEx
−$118.4K −$26.56/SF
NOI
$144.7K $32.47/SF
Area
San Francisco, CA
Vacancy
6.30%
Lease Rate
$63.00 /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%
$2,894,120
Cap Rate 7%
$2,067,229
Cap Rate 9%
$1,607,844
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.41M
NOI $144,706 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.77M
$19.05M – $25.40M
NOI $1,523,943 @ 7.0% cap · market cap 69.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 94117, CA
38,451
Population
19,709
Households
2
Avg Household Size
36
Median Age
78%
College-Educated
96%
High-School Grad
1.3 sq mi
ZIP Area
29,578
Density / Sq Mi
$175,096
Median Household Income
$106,542
Median Earnings
$2,786
Median Rent
$1,641,400
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 - Well-maintained five-unit apartment building in San Francisco's NOPA neighborhood.
Where is this apartment building located?
The property is located at 1821 Oak St. San Francisco, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Located in the highly desirable NOPA neighborhood of San Francisco, known for its strong tenant demand and convenient access to amenities.; Well‑maintained five‑unit apartment building with stable in‑place income and future rental upside potential.; Extensive system and capital improvements, including completed earthquake retrofit and updated electrical systems.**
