Triplex with Six Separate
For Sale
$1,800,000
2906 Folsom Street, San Francisco, CA 94110
Historic three-unit property with varied layouts, substantial garage capacity, and approved plans for a larger residence with an ADU.
Property Size2,800 SF
Days on Market216
Property Features for 2906 Folsom Street
General Information
Standard status
Active
Size
2,800 SF
Total Parking Spaces
6
Property subtype
Triplex
Units
Unit Mix
1 x full floor flat, 1 x 2BR/1BA, 1 x Studio
Multifamily Units
3
Building Details
Building Size
2,800 SF
Year Built
1900
Listing Agency:
Makras Real Estate
(415) 282-8400
Listed By:
Makras Makras
Source:
Bonniespindler
Added: Jan 26
Changed: Aug 29
Last Checked: Jul 29 at 10:20AM
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 Makras Real Estate
Investment Insights
Based on property information with market context.
Built in 1900, this San Francisco triplex contains approximately 2,800 square feet across three residential units. The configuration includes a full-floor flat, a two-bedroom, one-bath unit, and a studio. Six separate garages provide additional on-site storage or parking capacity.
Approved plans are in place for a larger residence of approximately 3,500 +- sqft with an ADU unit. The existing three-unit layout, garage improvements, and approved residential plans create a property with both current multifamily configuration and a documented future design option.
Approved plans are in place for a larger residence of approximately 3,500 +- sqft with an ADU unit. The existing three-unit layout, garage improvements, and approved residential plans create a property with both current multifamily configuration and a documented future design option.
Key Highlights
- Three‑unit building with approximately 2,800 square feet
- Six separate garages included with the property
- Unit mix includes a full‑floor flat, two‑bedroom one‑bath unit, and studio
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
$93,982
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
5.22%
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%
$1,879,640
$1.9M
Cap Rate 7%
$1,342,600
$1.3M
Cap Rate 9%
$1,044,244
$1.0M
Market Conditions
NOI Build-Up for 2,800 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
$142.8K $51.00/SF
− Vacancy
−$8.5K −$3.05/SF
EGI
$134.3K $47.95/SF
− OpEx
−$40.3K −$14.39/SF
NOI
$94.0K $33.57/SF
Area
ZIP 94110
Vacancy
5.98%
Lease Rate
$51.00 /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%
$1,879,640
Cap Rate 7%
$1,342,600
Cap Rate 9%
$1,044,244
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.57M
NOI $93,982 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,579 @ 7.0% cap · market cap 4.81%
Theoretical Best
Specialty Retail
$13.68M
$11.97M – $15.96M
NOI $957,379 @ 7.0% cap · market cap 53.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,942
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
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 - Historic three-unit property with varied layouts, substantial garage capacity, and approved plans for a larger residence with an ADU.
Where is this triplex located?
The property is located at 2906 Folsom Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three‑unit building with approximately 2,800 square feet; Six separate garages included with the property; Unit mix includes a full‑floor flat, two‑bedroom one‑bath unit, and studio
