2-Unit Duplex with Full-Footprint
New
For Sale
$2,995,000
3128-3130 Pierce Street, San Francisco, CA 94123
Both flats have two bedrooms, two bathrooms, formal dining rooms, breakfast nooks, and ample storage.
Property Size3,424 SF
Days on Market5
Property Features for 3128-3130 Pierce Street
General Information
Standard status
Active
Size
3,424 SF
Property subtype
Duplex
Building Details
Building Size
3,424 SF
Year Built
1938
Listing Agency:
Compass Commercial
Listed By:
John M Antonini
Source:
Elevationrealestate
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 1 at 4:00PM
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 Compass Commercial
Investment Insights
Based on property information with market context.
Built in 1938, this San Francisco duplex contains two flats, each with two bedrooms and two bathrooms. Both residences include an expansive living room, formal dining room, kitchen, breakfast nook, and storage. The top-floor flat and garage will be delivered vacant, and one of the garage’s two storage areas is also vacant. The building measures 3,424 square feet and includes a sunny backyard.
The garage spans the building’s footprint and accommodates multiple vehicles. The property is at 3128-3130 Pierce Street in the Cow Hollow neighborhood. The two units have similar layouts, with en suite bathrooms serving both bedrooms in each flat.
The garage spans the building’s footprint and accommodates multiple vehicles. The property is at 3128-3130 Pierce Street in the Cow Hollow neighborhood. The two units have similar layouts, with en suite bathrooms serving both bedrooms in each flat.
Key Highlights
- Two residential units, each with 2 bedrooms and 2 bathrooms
- 3,424‑square‑foot building constructed in 1938
- Top‑floor residence and garage to be delivered vacant
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
$121,687
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
4.06%
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%
$2,433,740
$2.4M
Cap Rate 7%
$1,738,386
$1.7M
Cap Rate 9%
$1,352,078
$1.4M
Market Conditions
NOI Build-Up for 3,424 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
$184.9K $54.00/SF
− Vacancy
−$11.1K −$3.23/SF
EGI
$173.8K $50.77/SF
− OpEx
−$52.2K −$15.23/SF
NOI
$121.7K $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%
$2,433,740
Cap Rate 7%
$1,738,386
Cap Rate 9%
$1,352,078
Alternative Uses
Best Use
Multifamily LT 5
$1.74M
$1.52M – $2.03M
NOI $121,687 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$1.59M
$1.39M – $1.85M
NOI $111,167 @ 7.0% cap · market cap 3.71%
Theoretical Best
Specialty Retail
$16.72M
$14.63M – $19.51M
NOI $1,170,738 @ 7.0% cap · market cap 39.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,308
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?
Duplex - Both flats have two bedrooms, two bathrooms, formal dining rooms, breakfast nooks, and ample storage.
Where is this duplex located?
The property is located at 3128-3130 Pierce Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 2 bathrooms; 3,424‑square‑foot building constructed in 1938; Top‑floor residence and garage to be delivered vacant
