8-Unit Mid-Century Apartment
For Sale
$3,198,000
257 San Jose Avenue, San Francisco, CA 94110
Eight one-bedroom flats on an oversized lot, with in-unit laundry in five remodeled units and a TPO roof installed in 2022.
Property Size3,720 SF
Price / SF$960.36
Days on Market56
Property Features for 257 San Jose Avenue
General Information
Standard status
Active
Size
3,720 SF
Total Parking Spaces
9
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
8 x 1BR
Multifamily Units
8
Amenities
in-unit laundry
Building Details
Building Size
3,720 SF
Year Built
1962
Construction
mid-century modern
Listing Agency:
Quest Real Estate
Listed By:
Bijan Amini
(650) 888-7888
Source:
Swanngroupsf
Added: Jul 27
Changed: Sep 18
Last Checked: Sep 19 at 12:04PM
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.
257 San Jose Avenue is an 8-unit, mid-century modern apartment building built in 1962, set on an oversized lot. The property includes eight one-bedroom flats. Five of the flats have been completely remodeled and feature in-unit laundry, are SB721 compliant, and received a new TPO roof in 2022.
The building offers 9 total parking spaces. It is located in Noe Valley, on the cusp of The Mission, about 1.5 blocks from the Valencia Corridor. The area is described as highly walkable with neighborhood dining, cafes, bars, shopping, and nightlife options. 24th & Mission BART is approximately a 5-minute walk.
With 99 WalkScore and 98 BikeScore, the property is positioned for tenants who value access to transit and nearby retail corridors.
The building offers 9 total parking spaces. It is located in Noe Valley, on the cusp of The Mission, about 1.5 blocks from the Valencia Corridor. The area is described as highly walkable with neighborhood dining, cafes, bars, shopping, and nightlife options. 24th & Mission BART is approximately a 5-minute walk.
With 99 WalkScore and 98 BikeScore, the property is positioned for tenants who value access to transit and nearby retail corridors.
Key Highlights
- 8‑unit mid‑century modern apartment building built in 1962
- Eight one‑bedroom flats on an oversized lot
- Five remodeled units with in‑unit laundry and SB721 compliance
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
$102,967
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
3.22%
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%
$2,059,340
$2.1M
Cap Rate 7%
$1,470,957
$1.5M
Cap Rate 9%
$1,144,078
$1.1M
Market Conditions
NOI Build-Up for 3,330 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
$199.8K $60.00/SF
− Vacancy
−$12.6K −$3.78/SF
EGI
$187.2K $56.22/SF
− OpEx
−$84.2K −$25.30/SF
NOI
$103.0K $30.92/SF
Area
ZIP 94110
Vacancy
6.30%
Lease Rate
$60.00 /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%
$2,059,340
Cap Rate 7%
$1,470,957
Cap Rate 9%
$1,144,078
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.29M – $1.72M
NOI $102,967 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$16.27M
$14.23M – $18.98M
NOI $1,138,598 @ 7.0% cap · market cap 35.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,321
Businesses Nearby
Explore this area
Business Placement
Demographics for 94110, CA
68,336
Population
30,685
Households
2.2
Avg Household Size
38
Median Age
61%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
28,473
Density / Sq Mi
$152,403
Median Household Income
$80,431
Median Earnings
$2,404
Median Rent
$1,500,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight one-bedroom flats on an oversized lot, with in-unit laundry in five remodeled units and a TPO roof installed in 2022.
Where is this apartment building located?
The property is located at 257 San Jose Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $3,198,000.
What are key features of this property?
This property features: 8‑unit mid‑century modern apartment building built in 1962; Eight one‑bedroom flats on an oversized lot; Five remodeled units with in‑unit laundry and SB721 compliance
