Four-Unit Property with Garden
For Sale
$2,550,000
2539-2541 Lombard Street, San Francisco, CA 94123
Income-producing multifamily property with two spacious flats, two studios, in-unit laundry, and separately metered PG&E service.
Property Size4,350 SF
Lot Size0.07 Acres
Price / SF$586.21
Days on Market138
Property Features for 2539-2541 Lombard Street
General Information
Standard status
Active
Size
4,350 SF
Lot size
0.07 Acres
Property subtype
Quadruplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR, 2 x studio
Multifamily Units
4
Amenities
in-unit laundry
backyard
Building Details
Building Size
4,350 SF
Year Built
1940
Buildings
1
Construction
French Provincial Revival
Listing Agency:
Quest Real Estate
(650) 888-7888
Listed By:
Bijan Amini
Source:
Cityrealestatesf
Added: Apr 16
Changed: Aug 30
Last Checked: Aug 30 at 2:48PM
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 Quest Real Estate
Investment Insights
Based on property information with market context.
This 4-unit multifamily property at 2539-2541 Lombard Street comprises a 4,350-square-foot French Provincial Revival building completed in 1940 on a 2,918-square-foot lot. The residential layout includes two expansive 2-bedroom flats with separate living and dining rooms, high ceilings, period detailing, large kitchens, and abundant windows. Two lower-level studio flats complete the unit mix, including a garden studio oriented toward the backyard and another studio built in 2021. Every residence has in-unit laundry, and each is separately metered for PG&E.
The property is positioned in San Francisco’s Cow Hollow neighborhood near the Marina District, with a 97 WalkScore. Chestnut Street shopping and dining is 1.5 blocks away, while Fillmore Street, Union Street, Marina Green, the Palace of Fine Arts, the Presidio, Moscone Park, Fort Mason, and the Presidio Golf Course are within walking distance. Public transportation, US 101, the Golden Gate Bridge, Downtown San Francisco, Silicon Valley tech centers, and SFO provide additional regional access.
The property is positioned in San Francisco’s Cow Hollow neighborhood near the Marina District, with a 97 WalkScore. Chestnut Street shopping and dining is 1.5 blocks away, while Fillmore Street, Union Street, Marina Green, the Palace of Fine Arts, the Presidio, Moscone Park, Fort Mason, and the Presidio Golf Course are within walking distance. Public transportation, US 101, the Golden Gate Bridge, Downtown San Francisco, Silicon Valley tech centers, and SFO provide additional regional access.
Key Highlights
- 4‑unit French Provincial Revival building with a 4,350‑square‑foot footprint
- Two 2‑bedroom flats plus two lower‑level studios
- Garden studio and second studio built in 2021
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
$154,597
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
6.06%
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%
$3,091,940
$3.1M
Cap Rate 7%
$2,208,529
$2.2M
Cap Rate 9%
$1,717,744
$1.7M
Market Conditions
NOI Build-Up for 4,350 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
$234.9K $54.00/SF
− Vacancy
−$14.0K −$3.23/SF
EGI
$220.9K $50.77/SF
− OpEx
−$66.3K −$15.23/SF
NOI
$154.6K $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%
$3,091,940
Cap Rate 7%
$2,208,529
Cap Rate 9%
$1,717,744
Alternative Uses
Best Use
Multifamily LT 5
$2.21M
$1.93M – $2.58M
NOI $154,597 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$2.02M
$1.77M – $2.35M
NOI $141,232 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$21.25M
$18.59M – $24.79M
NOI $1,487,357 @ 7.0% cap · market cap 58.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,436
Businesses Nearby
Explore this area
Business Placement
Demographics for 94123, CA
26,131
Population
14,883
Households
1.8
Avg Household Size
35
Median Age
86%
College-Educated
98%
High-School Grad
1.1 sq mi
ZIP Area
23,755
Density / Sq Mi
$222,689
Median Household Income
$142,336
Median Earnings
$3,248
Median Rent
$2,000,001
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?
Quadplex - Income-producing multifamily property with two spacious flats, two studios, in-unit laundry, and separately metered PG&E service.
Where is this quadplex located?
The property is located at 2539-2541 Lombard Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 4‑unit French Provincial Revival building with a 4,350‑square‑foot footprint; Two 2‑bedroom flats plus two lower‑level studios; Garden studio and second studio built in 2021
