Top Floor Studio in Cow
For Sale
$499,000
2415 Van Ness Ave Unit 602, San Francisco, CA 94109
Other residential income properties
Property Size567 SF
Lot Size0.13 Acres
Price / SF$880.07
Days on Market220
Property Features for 2415 Van Ness Ave Unit 602
General Information
Standard status
Active
Property type
Other residential income properties, Multifamily properties
Size
567 SF
Lot size
0.13 Acres
Building Details
Year Built
1926
Stories
7
Units
41
Listing Agency:
Added: Jan 24
Changed: Mar 16
Investment Insights
Based on property information with market context.
This east-facing studio, situated on the top floor in the Cow Hollow neighborhood of San Francisco, offers views of the Transamerica Pyramid, Salesforce Tower, and Russian Hill. The layout includes a living area with hardwood floors and a separate eat-in kitchen featuring cabinetry and quartz countertops. Storage is available, including a walk-in closet that can serve as an office nook. The building has undergone upgrades such as double-paned windows, exterior waterproofing, a new elevator, refreshed common areas, and a gated entry with an intercom system. Shared amenities include a back patio with lounge seating, a fire pit, and outdoor dining, along with shared laundry and zero-step entry at the lower level. A private storage closet is included with the unit. The location provides access to Polk, Union, Chestnut, and Fillmore Streets, and Fisherman's Wharf. Bay trails, farmers markets at Fort Mason, and green spaces like Moscone Park, Aquatic Park, and Marina Green are also nearby. Transit options and tech shuttle stops facilitate car-free living. The property is suitable as a first city home, pied-a-terre, or investment option. The property size is 567 square feet.
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
$16,936
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
3.39%
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%
$338,720
$338.7K
Cap Rate 7%
$241,943
$241.9K
Cap Rate 9%
$188,178
$188.2K
Market Conditions
NOI Build-Up for 567 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
$32.9K $57.96/SF
− Vacancy
−$2.1K −$3.65/SF
EGI
$30.8K $54.31/SF
− OpEx
−$13.9K −$24.44/SF
NOI
$16.9K $29.87/SF
Area
ZIP 94109
Vacancy
6.30%
Lease Rate
$57.96 /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%
$338,720
Cap Rate 7%
$241,943
Cap Rate 9%
$188,178
Alternative Uses
Best Use
Apartment 5plus
$241.9K
$211.7K – $282.3K
NOI $16,936 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.58M
$2.26M – $3.02M
NOI $180,945 @ 7.0% cap · market cap 36.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,670
Businesses Nearby
Explore this area
Business Placement
Demographics for 94109, CA
58,501
Population
39,043
Households
1.5
Avg Household Size
38
Median Age
65%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
53,183
Density / Sq Mi
$112,201
Median Household Income
$89,841
Median Earnings
$2,172
Median Rent
$1,390,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
Where is this residential income property located?
The property is located at 2415 Van Ness Ave Unit 602 San Francisco, CA.
What is the asking price?
The asking price for this property is $499,000.
