Four-Story Victorian Multifamily
New
For Sale
$3,998,000
24-26A Fairmount Street, San Francisco, CA 94131
Two renovated residences and a detached cottage create a multi-residence configuration near transit and local amenities.
Property Size5,081 SF
Price / SF$786.85
Days on Market5
Property Features for 24-26A Fairmount Street
General Information
Standard status
Active
Size
5,081 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/3BA, 1 x 4BR/4BA, 1 x 2BR/1BA
Multifamily Units
3
Amenities
city views
EV charging
Building Details
Year Built
1912
Buildings
2
Tenancy
Single
Listing Agency:
Sequoia Real Estate
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 22 at 5:14PM
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 Sequoia Real Estate
Investment Insights
Based on property information with market context.
Built in 1912, this multifamily property includes a four-story Victorian front structure with two renovated residences delivered vacant. Residence No. 24 has three bedrooms, three bathrooms, two en-suite bedrooms, and a great room with a new designer kitchen. Residence No. 26 spans two levels and more than 2,000 square feet, offering four bedrooms, four bathrooms, living and formal dining rooms, and pantry cabinetry. Both residences include new kitchens and appliances, wide-plank wood flooring, new furnaces, tankless water heaters, and upgraded building systems. A two-car garage with EV charging serves the front building.
A detached rear cottage provides approximately 1,100 square feet across two levels, with two bedrooms, one bathroom, and separate living and dining areas. The cottage remains in original condition and is currently tenant-occupied. A pending application proposes a two-bedroom, two-bath ADU behind the front structure's garage; buyers should independently verify application status, permitting, plans, and development requirements.
The property is near Glen Park Village, BART, public transportation, Highways 101 and 280, Noe Valley, Bernal Heights, and the Mission.
A detached rear cottage provides approximately 1,100 square feet across two levels, with two bedrooms, one bathroom, and separate living and dining areas. The cottage remains in original condition and is currently tenant-occupied. A pending application proposes a two-bedroom, two-bath ADU behind the front structure's garage; buyers should independently verify application status, permitting, plans, and development requirements.
The property is near Glen Park Village, BART, public transportation, Highways 101 and 280, Noe Valley, Bernal Heights, and the Mission.
Key Highlights
- Four‑story Victorian front building constructed in 1912
- Two renovated residences delivered vacant for occupancy or rental
- Residence No. 26 spans more than 2,000 square feet with 4 bedrooms and 4 bathrooms
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
$164,965
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
4.13%
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%
$3,299,300
$3.3M
Cap Rate 7%
$2,356,643
$2.4M
Cap Rate 9%
$1,832,944
$1.8M
Market Conditions
NOI Build-Up for 5,081 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
$320.1K $63.00/SF
− Vacancy
−$20.2K −$3.97/SF
EGI
$299.9K $59.03/SF
− OpEx
−$135.0K −$26.56/SF
NOI
$165.0K $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%
$3,299,300
Cap Rate 7%
$2,356,643
Cap Rate 9%
$1,832,944
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.06M – $2.75M
NOI $164,965 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$24.82M
$21.72M – $28.96M
NOI $1,737,302 @ 7.0% cap · market cap 43.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,171
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two renovated residences and a detached cottage create a multi-residence configuration near transit and local amenities.
Where is this multifamily property located?
The property is located at 24-26A Fairmount Street San Francisco, CA.
What is the asking price?
The asking price for this property is $3,998,000.
What are key features of this property?
This property features: Four‑story Victorian front building constructed in 1912; Two renovated residences delivered vacant for occupancy or rental; Residence No. 26 spans more than 2,000 square feet with 4 bedrooms and 4 bathrooms
