Art Deco Multi-Unit
For Sale
$3,255,500
Pending
1836-1840 Greenwich Street, San Francisco, CA 94123
1932 Art Deco multi-unit building with a top-floor flat, converted rear units, and a stand-alone one-bedroom house.
Property Size4,094 SF
Days on Market52
Property Features for 1836-1840 Greenwich Street
General Information
Standard status
Pending
Size
4,094 SF
Property subtype
Quadruplex
Building Details
Building Size
4,094 SF
Year Built
1932
Listing Agency:
Compass
Listed By:
Michael Freethy
(415) 823-7917
Source:
Realestatenovo
Added: Jul 17
Changed: Sep 4
Last Checked: Sep 5 at 8:00AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1932, this Art Deco multi-unit property includes a front top-floor flat and lower units that were originally one flat and later converted into separate configurations. The top-floor flat features a large living room, formal dining room with a breakfast nook, an original kitchen, two rear bedrooms with a deck overlooking the back courtyard, and an Art Deco-style bath plus a half bath. Period details include an ornate stone fireplace, coved ceilings, parquet hardwood floors, and wood moldings, and the building offers restoration opportunity.
At the rear of the lot is a stand-alone one-bedroom house, with a huge garage behind the building. Rear garage doors open into the back courtyard. The property is walkable, with a Walk Score of 98, and is described as very transit friendly, situated moments from Union, Chestnut, and Polk Streets, with the Marina Green nearby.
At the rear of the lot is a stand-alone one-bedroom house, with a huge garage behind the building. Rear garage doors open into the back courtyard. The property is walkable, with a Walk Score of 98, and is described as very transit friendly, situated moments from Union, Chestnut, and Polk Streets, with the Marina Green nearby.
Key Highlights
- 1932 Art Deco multi‑unit building with a top‑floor flat and a stand‑alone one‑bedroom house in the rear
- Front top‑floor flat includes large living room, formal dining room, breakfast nook, and original kitchen
- Front flat features 2 rear bedrooms with a deck overlooking the back courtyard, plus original Art Deco style bath and a half bath
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
$145,499
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
4.47%
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%
$2,909,980
$2.9M
Cap Rate 7%
$2,078,557
$2.1M
Cap Rate 9%
$1,616,656
$1.6M
Market Conditions
NOI Build-Up for 4,094 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
$221.1K $54.00/SF
− Vacancy
−$13.2K −$3.23/SF
EGI
$207.9K $50.77/SF
− OpEx
−$62.4K −$15.23/SF
NOI
$145.5K $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%
$2,909,980
Cap Rate 7%
$2,078,557
Cap Rate 9%
$1,616,656
Alternative Uses
Best Use
Multifamily LT 5
$2.08M
$1.82M – $2.42M
NOI $145,499 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$1.90M
$1.66M – $2.22M
NOI $132,920 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$20.00M
$17.50M – $23.33M
NOI $1,399,826 @ 7.0% cap · market cap 43.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 94123, CA
26,131
Population
14,883
Households
1.8
Avg Household Size
35
Median Age
86%
College-Educated
98%
High-School Grad
1.1 sq mi
ZIP Area
23,755
Density / Sq Mi
$222,689
Median Household Income
$142,336
Median Earnings
$3,248
Median Rent
$2,000,001
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?
Quadplex - 1932 Art Deco multi-unit building with a top-floor flat, converted rear units, and a stand-alone one-bedroom house.
Where is this quadplex located?
The property is located at 1836-1840 Greenwich Street San Francisco, CA.
What is the asking price?
The asking price for this property is $3,255,500.
What are key features of this property?
This property features: 1932 Art Deco multi‑unit building with a top‑floor flat and a stand‑alone one‑bedroom house in the rear; Front top‑floor flat includes large living room, formal dining room, breakfast nook, and original kitchen; Front flat features 2 rear bedrooms with a deck overlooking the back courtyard, plus original Art Deco style bath and a half bath
