Triplex with Three-Car
For Sale
$2,500,000
2645-2647 Turk Boulevard, San Francisco, CA 94118
Three leased residential units occupy a semi-detached corner building with period architectural details and dedicated parking.
Property Size3,541 SF
Price / SF$706.02
Days on Market52
Property Features for 2645-2647 Turk Boulevard
General Information
Standard status
Active
Size
3,541 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
2 x 5-room flat, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1939
Buildings
1
Listing Agency:
Touchstone Commercial Partners Inc
(415) 275-0229
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 29 at 3:26PM
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 Touchstone Commercial Partners Inc
Investment Insights
Based on property information with market context.
Built in 1939, this 3,541-square-foot triplex is arranged as two five-room flats plus a one-bedroom, one-bath guest quarters at street level. The semi-detached corner property features vintage fireplaces, non-operable, along with original-style moldings and abundant natural light. Three-car side-by-side parking is provided, with vehicle fit subject to testing.
All three units are leased on a month-to-month basis. The property is located at 2645-2647 Turk Boulevard, one block from the USF main campus and across from the USF-Lone Mountain campus. UCSF Medical Center, Golden Gate Park, shops and restaurants in the Inner Richmond and Inner Sunset, Laurel Village, and Presidio Heights are also identified as nearby. A neighborhood membership connected to the USF Koret Health & Wellness Center is available subject to annual fees.
All three units are leased on a month-to-month basis. The property is located at 2645-2647 Turk Boulevard, one block from the USF main campus and across from the USF-Lone Mountain campus. UCSF Medical Center, Golden Gate Park, shops and restaurants in the Inner Richmond and Inner Sunset, Laurel Village, and Presidio Heights are also identified as nearby. A neighborhood membership connected to the USF Koret Health & Wellness Center is available subject to annual fees.
Key Highlights
- 3,541‑square‑foot triplex built in 1939
- Two five‑room flats plus 1BR/1BA street‑level guest quarters
- All units leased on a month‑to‑month basis
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
$125,846
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
5.03%
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%
$2,516,920
$2.5M
Cap Rate 7%
$1,797,800
$1.8M
Cap Rate 9%
$1,398,289
$1.4M
Market Conditions
NOI Build-Up for 3,541 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
$191.2K $54.00/SF
− Vacancy
−$11.4K −$3.23/SF
EGI
$179.8K $50.77/SF
− OpEx
−$53.9K −$15.23/SF
NOI
$125.8K $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%
$2,516,920
Cap Rate 7%
$1,797,800
Cap Rate 9%
$1,398,289
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.57M – $2.10M
NOI $125,846 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$1.64M
$1.44M – $1.92M
NOI $114,966 @ 7.0% cap · market cap 4.60%
Theoretical Best
Specialty Retail
$17.30M
$15.13M – $20.18M
NOI $1,210,743 @ 7.0% cap · market cap 48.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,951
Businesses Nearby
Explore this area
Business Placement
Demographics for 94118, CA
42,356
Population
19,052
Households
2.2
Avg Household Size
37
Median Age
72%
College-Educated
94%
High-School Grad
2.0 sq mi
ZIP Area
21,178
Density / Sq Mi
$159,550
Median Household Income
$92,946
Median Earnings
$2,695
Median Rent
$1,817,200
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?
Triplex - Three leased residential units occupy a semi-detached corner building with period architectural details and dedicated parking.
Where is this triplex located?
The property is located at 2645-2647 Turk Boulevard San Francisco, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 3,541‑square‑foot triplex built in 1939; Two five‑room flats plus 1BR/1BA street‑level guest quarters; All units leased on a month‑to‑month basis
