Remodeled Vacant
For Sale
$1,698,000
Pending
260 Lee Avenue, San Francisco, CA 94112
Two separate residences share one lot, with updated kitchens, private outdoor space, and flexible lower-level guest accommodations.
Property Size2,143 SF
Days on Market187
Property Features for 260 Lee Avenue
General Information
Standard status
Pending
Size
2,143 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
Ceiling Fan(s)
3
Tile, Vinyl, Laminate, Wood
Dishwasher, Washer, Range/Oven Free Standing, Disposal, Dryer, Microwave, Range Hood, Carbon Monoxide Detector
Alarm -Smoke/Fire
Wood, Rear
Deck
Deck. Storage Area. Fenced Yard.
1 Garage Spaces. 1 Parking Spaces.
City
Freestanding, Extra Storage.
Building Details
Year Built
1927
Buildings
2
Listing Agency:
New Age Realty & Mortgage
(415) 242-1639
Listed By:
Yelena Kazantseva
Source:
Xome
Added: Feb 25
Changed: Aug 30
Last Checked: Aug 30 at 4:14PM
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 New Age Realty & Mortgage
Investment Insights
Based on property information with market context.
This duplex includes two fully vacant, remodeled residences on a single lot. The front home offers a bright living room, new kitchen, dining area, two bedrooms, and one and a half bathrooms on the main level. A lower-level guest quarter adds flexible interior space, while a private deck overlooks the fenced rear yard. The rear residence provides a comfortable living room, renovated kitchen, and half bathroom on the main level, with two bedrooms and a renovated full bathroom upstairs.
The property includes a garage, one parking space, additional storage, and a rear deck. Its San Francisco setting places the homes near Balboa Park BART, City College of San Francisco, public transportation, Whole Foods Market, and other neighborhood amenities, with freeway connections toward downtown San Francisco and the Peninsula.
The property includes a garage, one parking space, additional storage, and a rear deck. Its San Francisco setting places the homes near Balboa Park BART, City College of San Francisco, public transportation, Whole Foods Market, and other neighborhood amenities, with freeway connections toward downtown San Francisco and the Peninsula.
Key Highlights
- Two fully vacant, remodeled residences on one lot
- Front home includes 2 bedrooms and 1.5 bathrooms on the main level
- Rear home has 2 bedrooms, a main‑level half bath, and an upstairs renovated bathroom
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
$86,316
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
5.08%
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%
$1,726,320
$1.7M
Cap Rate 7%
$1,233,086
$1.2M
Cap Rate 9%
$959,067
$959.1K
Market Conditions
NOI Build-Up for 2,143 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
$131.2K $61.20/SF
− Vacancy
−$7.8K −$3.66/SF
EGI
$123.3K $57.54/SF
− OpEx
−$37.0K −$17.26/SF
NOI
$86.3K $40.28/SF
Area
ZIP 94112
Vacancy
5.98%
Lease Rate
$61.20 /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%
$1,726,320
Cap Rate 7%
$1,233,086
Cap Rate 9%
$959,067
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,316 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$1.12M
$977.4K – $1.30M
NOI $78,191 @ 7.0% cap · market cap 4.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 94112, CA
79,314
Population
24,530
Households
3.2
Avg Household Size
42
Median Age
36%
College-Educated
80%
High-School Grad
3.3 sq mi
ZIP Area
24,035
Density / Sq Mi
$130,906
Median Household Income
$55,744
Median Earnings
$2,326
Median Rent
$1,159,600
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 - Two separate residences share one lot, with updated kitchens, private outdoor space, and flexible lower-level guest accommodations.
Where is this duplex located?
The property is located at 260 Lee Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $1,698,000.
What are key features of this property?
This property features: Two fully vacant, remodeled residences on one lot; Front home includes 2 bedrooms and 1.5 bathrooms on the main level; Rear home has 2 bedrooms, a main‑level half bath, and an upstairs renovated bathroom
