Seven-Unit Apartment
For Sale
$2,425,000
184 Valley St, San Francisco, CA 94131
Apartment property in Noe Valley with a permitted new-construction ADU and upgraded seismic and electrical systems.
Property Size4,379 SF
Days on Market98
Property Features for 184 Valley St
General Information
Standard status
Active
Size
4,379 SF
Property subtype
Multifamily
Occupancy
97%
Site & Location
Neighborhood
Noe Valley
Units
Unit Mix
6 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
7
Amenities
Prime Noe Valley location steps from 24th Street with significant rental upside
Permitted, all-new-construction ADU
Completed soft-story seismic retrofit and upgraded circuit-breaker panels
Building Details
Building Size
4,379 SF
Buildings
1
Units
7
Listing Agency:
Marcus & Millichap
Listed By:
Fred Rubio III · License #License(s): CA: 01984041
(650) 391-1734
Source:
Marcusmillichap
Added: Aug 1
Changed: Oct 26
Last Checked: Nov 4 at 9:34AM
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 Marcus & Millichap
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Investment Insights
Based on property information with market context.
This seven-unit apartment building in San Francisco’s Noe Valley includes six one-bedroom, one-bath residences and one two-bedroom, one-bath ADU. The ADU is fully permitted and constructed as all-new construction, adding a distinct floor-plan option within the property’s residential configuration. Most units do not currently have in-unit laundry service.
Completed improvements include a soft-story seismic retrofit and upgraded electrical infrastructure with modern circuit-breaker panels. The building was constructed in 1908, combining an established apartment asset with documented structural and electrical updates. The property is located on Valley Street in Noe Valley, a San Francisco neighborhood identified in the property information as a consistently strong rental market.
Completed improvements include a soft-story seismic retrofit and upgraded electrical infrastructure with modern circuit-breaker panels. The building was constructed in 1908, combining an established apartment asset with documented structural and electrical updates. The property is located on Valley Street in Noe Valley, a San Francisco neighborhood identified in the property information as a consistently strong rental market.
Key Highlights
- Seven‑unit apartment building with six 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit
- Fully permitted ADU with all‑new construction
- Completed soft‑story seismic retrofit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,173
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,843,460
$2.8M
Cap Rate 7%
$2,031,043
$2.0M
Cap Rate 9%
$1,579,700
$1.6M
Market Conditions
NOI Build-Up for 4,379 SF
Gross rent
$275.9K $63.00/SF
− Vacancy
−$17.4K −$3.97/SF
EGI
$258.5K $59.03/SF
− OpEx
−$116.3K −$26.56/SF
NOI
$142.2K $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 Rate 5%
$2,843,460
Cap Rate 7%
$2,031,043
Cap Rate 9%
$1,579,700
Alternative Uses
Best Use
Apartment 5plus
$2.03M
$1.78M – $2.37M
NOI $142,173 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.39M
$18.72M – $24.95M
NOI $1,497,273 @ 7.0% cap · market cap 61.74%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
4,332
Businesses Nearby
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Business Placement
Demographics for 94131, CA
28,810
Population
13,755
Households
2.1
Avg Household Size
41
Median Age
78%
College-Educated
98%
High-School Grad
2.0 sq mi
ZIP Area
14,405
Density / Sq Mi
$198,779
Median Household Income
$119,053
Median Earnings
$2,971
Median Rent
$1,749,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property in Noe Valley with a permitted new-construction ADU and upgraded seismic and electrical systems.
Where is this apartment building located?
The property is located at 184 Valley St San Francisco, CA.
What is the asking price?
The asking price for this property is $2,425,000.
What are key features of this property?
This property features: Seven‑unit apartment building with six 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit; Fully permitted ADU with all‑new construction; Completed soft‑story seismic retrofit
