2-Unit Duplex with
For Sale
$1,995,000
251 29th Street, San Francisco, CA 94131
Vacant residences feature matching two-bedroom layouts, updated kitchens, and separate storage and laundry areas.
Property Size3,520 SF
Days on Market9
Property Features for 251 29th Street
General Information
Standard status
Active
Size
3,520 SF
Total Parking Spaces
3
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
fireplace
laundry
backyard
Building Details
Building Size
3,520 SF
Year Built
1950
Buildings
1
Construction
mid-century
Listing Agency:
Compass
(415) 710-8713
Listed By:
Kevin T McCollom
Source:
Elevationrealestate
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 4:03PM
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 2-unit duplex, built in 1950, includes two matching residences that have been updated while retaining mid-century character. Each unit offers 2 bedrooms, 1 bathroom, a formal living room with a fireplace, parquet hardwood floors, and an eat-in kitchen with updated appliances and an adjoining dining area. Both residences are delivered vacant.
The lower level contains a structurally reinforced area designed to accommodate a 3-car garage, along with separate storage areas and laundry facilities for each unit. At the rear, a deep, level, south-facing backyard provides outdoor space for gardening and recreation. The property is located half a block from the J-Church and near neighborhood shopping and dining.
The lower level contains a structurally reinforced area designed to accommodate a 3-car garage, along with separate storage areas and laundry facilities for each unit. At the rear, a deep, level, south-facing backyard provides outdoor space for gardening and recreation. The property is located half a block from the J-Church and near neighborhood shopping and dining.
Key Highlights
- Two‑unit duplex with both residences delivered vacant
- Each unit has 2 bedrooms, 1 bathroom, a fireplace, and parquet hardwood floors
- Updated eat‑in kitchens include appliances and attached dining areas
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
$125,099
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
6.27%
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%
$2,501,980
$2.5M
Cap Rate 7%
$1,787,129
$1.8M
Cap Rate 9%
$1,389,989
$1.4M
Market Conditions
NOI Build-Up for 3,520 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
$190.1K $54.00/SF
− Vacancy
−$11.4K −$3.23/SF
EGI
$178.7K $50.77/SF
− OpEx
−$53.6K −$15.23/SF
NOI
$125.1K $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%
$2,501,980
Cap Rate 7%
$1,787,129
Cap Rate 9%
$1,389,989
Alternative Uses
Best Use
Multifamily LT 5
$1.79M
$1.56M – $2.08M
NOI $125,099 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,284 @ 7.0% cap · market cap 5.73%
Theoretical Best
Specialty Retail
$17.19M
$15.04M – $20.06M
NOI $1,203,563 @ 7.0% cap · market cap 60.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,677
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?
Duplex - Vacant residences feature matching two-bedroom layouts, updated kitchens, and separate storage and laundry areas.
Where is this duplex located?
The property is located at 251 29th Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences delivered vacant; Each unit has 2 bedrooms, 1 bathroom, a fireplace, and parquet hardwood floors; Updated eat‑in kitchens include appliances and attached dining areas
