5-Unit Apartment Building with
For Sale
$1,595,000
214 88th St, Daly City, CA 94015
Tenant-occupied residences offer varied layouts, updated interiors, and on-site laundry.
Property Size5,833 SF
Price / SF$273.44
Days on Market8
Property Features for 214 88th St
General Information
Standard status
Active
Size
5,833 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x studio, 2 x 1BD/1BA, 1 x 2BD/1BA, 1 x 3BD/2BA
Multifamily Units
5
Additional Details
Public Transit
Yes
Amenities
garage
coin-operated laundry
Building Details
Year Built
1964
Tenancy
Multi
Listing Agency:
Compass
(415) 345-3000
Listed By:
Natalie Meyers · License #02010250
(707) 888-4798
Source:
Exprealty
Added: Aug 27
Changed: Sep 3
Last Checked: Sep 3 at 1:55AM
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.
This 5,833-square-foot apartment property contains five tenant-occupied residences in a building constructed in 1964. The unit mix includes one studio, two 1BD/1BA apartments, one 2BD/1BA apartment, and one 3BD/2BA residence. Kitchens and bathrooms have been updated, and the layouts provide a range of living arrangements. A large garage supplies parking for all five units, while leased coin-operated laundry is available on-site. Select residences have views toward Lake Merced Golf Course.
The property is located in Daly City near the San Francisco border, with access to Lake Merced, Westlake shopping and dining, nearby transit, and major commuter routes. Its setting provides connectivity to both San Francisco and the Peninsula.
The property is located in Daly City near the San Francisco border, with access to Lake Merced, Westlake shopping and dining, nearby transit, and major commuter routes. Its setting provides connectivity to both San Francisco and the Peninsula.
Key Highlights
- Five‑unit apartment property totaling 5,833 SF
- Unit mix includes a studio, two 1BD/1BA units, one 2BD/1BA unit, and one 3BD/2BA residence
- All five units are tenant‑occupied
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
$116,625
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
7.31%
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%
$2,332,500
$2.3M
Cap Rate 7%
$1,666,071
$1.7M
Cap Rate 9%
$1,295,833
$1.3M
Market Conditions
NOI Build-Up for 5,833 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
$226.8K $38.88/SF
− Vacancy
−$14.7K −$2.53/SF
EGI
$212.0K $36.35/SF
− OpEx
−$95.4K −$16.36/SF
NOI
$116.6K $19.99/SF
Area
Daly City, CA
Vacancy
6.50%
Lease Rate
$38.88 /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%
$2,332,500
Cap Rate 7%
$1,666,071
Cap Rate 9%
$1,295,833
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.94M
NOI $116,625 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,770 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,739
Businesses Nearby
Explore this area
Business Placement
Demographics for 94015, CA
63,489
Population
22,314
Households
2.8
Avg Household Size
41
Median Age
41%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
11,138
Density / Sq Mi
$123,552
Median Household Income
$53,778
Median Earnings
$2,760
Median Rent
$1,152,900
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 - Tenant-occupied residences offer varied layouts, updated interiors, and on-site laundry.
Where is this apartment building located?
The property is located at 214 88th St Daly City, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Five‑unit apartment property totaling 5,833 SF; Unit mix includes a studio, two 1BD/1BA units, one 2BD/1BA unit, and one 3BD/2BA residence; All five units are tenant‑occupied
