Three-Unit High-Ceiling
For Sale
$2,100,000
2112-2116 Mason Street, San Francisco, CA 94133
Built in 1914, the property places three residential units near North Beach dining and entertainment.
Property Size3,516 SF
Days on Market18
Property Features for 2112-2116 Mason Street
General Information
Standard status
Active
Size
3,516 SF
Property subtype
Triplex
Units
Unit Mix
3 x 2BR+den
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
laundry area
Building Details
Building Size
3,516 SF
Year Built
1914
Buildings
1
Listing Agency:
Intero Real Estate Services
(650) 589-1000
Listed By:
Mindy Tsoi
Source:
Adelaidamejiasf
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 29 at 3:47PM
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 Intero Real Estate Services
Investment Insights
Based on property information with market context.
This 1914-built triplex contains three residential units, each arranged with two bedrooms, a den, a split bathroom, dining space, and a laundry area. High ceilings add a notable architectural feature across the building.
The property is located at 2112-2116 Mason Street in San Francisco’s North Beach area, near Columbus Avenue and Chestnut Avenue. Restaurants, dining, entertainment, and cable car service are all in the surrounding area, placing the building within an established urban neighborhood setting.
The property is located at 2112-2116 Mason Street in San Francisco’s North Beach area, near Columbus Avenue and Chestnut Avenue. Restaurants, dining, entertainment, and cable car service are all in the surrounding area, placing the building within an established urban neighborhood setting.
Key Highlights
- Three‑unit multifamily building at 2112‑2116 Mason Street
- Each unit includes 2 bedrooms and a den
- Separate dining and laundry areas in every unit
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
$124,957
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
5.95%
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%
$2,499,140
$2.5M
Cap Rate 7%
$1,785,100
$1.8M
Cap Rate 9%
$1,388,411
$1.4M
Market Conditions
NOI Build-Up for 3,516 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
$189.9K $54.00/SF
− Vacancy
−$11.4K −$3.23/SF
EGI
$178.5K $50.77/SF
− OpEx
−$53.6K −$15.23/SF
NOI
$125.0K $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%
$2,499,140
Cap Rate 7%
$1,785,100
Cap Rate 9%
$1,388,411
Alternative Uses
Best Use
Multifamily LT 5
$1.79M
$1.56M – $2.08M
NOI $124,957 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,154 @ 7.0% cap · market cap 5.44%
Theoretical Best
Specialty Retail
$17.17M
$15.03M – $20.04M
NOI $1,202,195 @ 7.0% cap · market cap 57.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
7,987
Businesses Nearby
Explore this area
Business Placement
Demographics for 94133, CA
26,751
Population
15,733
Households
1.7
Avg Household Size
41
Median Age
55%
College-Educated
80%
High-School Grad
0.7 sq mi
ZIP Area
38,216
Density / Sq Mi
$83,025
Median Household Income
$78,478
Median Earnings
$1,985
Median Rent
$1,519,100
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?
Triplex - Built in 1914, the property places three residential units near North Beach dining and entertainment.
Where is this triplex located?
The property is located at 2112-2116 Mason Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Three‑unit multifamily building at 2112‑2116 Mason Street; Each unit includes 2 bedrooms and a den; Separate dining and laundry areas in every unit
