28-Unit Apartment
New
For Sale
$8,900,000
3140 21st Street, San Francisco, CA 94110
A multifamily property with separately metered utilities, shared laundry, parking, and a side yard.
Property Size17,625 SF
Price / SF$504.96
Days on Market3
Property Features for 3140 21st Street
General Information
Standard status
Active
Size
17,625 SF
Total Parking Spaces
27
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x studio, 15 x junior 1BR, 10 x 1BR
Multifamily Units
28
Amenities
large side yard
owner's storage and workshop area
shared laundry facility
Building Details
Building Size
17,625 SF
Year Built
1927
Buildings
1
Listing Agency:
Colliers International
Listed By:
Brad Lagomarsino · License #01058500
(415) 288-7847
Source:
Realestatenovo
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 6 at 7:51AM
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 Colliers International
Investment Insights
Based on property information with market context.
This 28-unit apartment building, constructed in 1927, contains approximately 17,625 square feet arranged as three studios, fifteen junior one-bedroom units, and ten one-bedroom units. Apartment features include hardwood floors, bay windows, generous closet space, natural light, and a mix of renovated kitchens and bathrooms. The property also provides a shared laundry room with three washers and four dryers, owner storage, a workshop area, and a large side yard.
Twenty-seven parking spaces accompany the building. Gas and electrical services are separately metered, soft-story seismic work has been completed, and the property complies with San Francisco's 2021 Fire Alarm Ordinance.
The property is located at the intersection of 21st and Capp streets in San Francisco's Inner Mission District. Restaurants, cafes, nightlife, markets, and shopping are within walking distance, with access to Muni routes, the 16th Street and 24th Street Mission BART stations, US-101, and I-280 nearby.
Twenty-seven parking spaces accompany the building. Gas and electrical services are separately metered, soft-story seismic work has been completed, and the property complies with San Francisco's 2021 Fire Alarm Ordinance.
The property is located at the intersection of 21st and Capp streets in San Francisco's Inner Mission District. Restaurants, cafes, nightlife, markets, and shopping are within walking distance, with access to Muni routes, the 16th Street and 24th Street Mission BART stations, US-101, and I-280 nearby.
Key Highlights
- 28 units across approximately 17,625 square feet
- Unit mix includes 3 studios, 15 junior one‑bedroom units, and 10 one‑bedroom units
- 27 parking spaces included with the property
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
$544,983
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
6.12%
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%
$10,899,660
$10.9M
Cap Rate 7%
$7,785,471
$7.8M
Cap Rate 9%
$6,055,367
$6.1M
Market Conditions
NOI Build-Up for 17,625 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
$1.06M $60.00/SF
− Vacancy
−$66.6K −$3.78/SF
EGI
$990.9K $56.22/SF
− OpEx
−$445.9K −$25.30/SF
NOI
$545.0K $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%
$10,899,660
Cap Rate 7%
$7,785,471
Cap Rate 9%
$6,055,367
Alternative Uses
Best Use
Apartment 5plus
$7.79M
$6.81M – $9.08M
NOI $544,983 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$86.09M
$75.33M – $100.44M
NOI $6,026,362 @ 7.0% cap · market cap 67.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,597
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?
Apartment building - A multifamily property with separately metered utilities, shared laundry, parking, and a side yard.
Where is this apartment building located?
The property is located at 3140 21st Street San Francisco, CA.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: 28 units across approximately 17,625 square feet; Unit mix includes 3 studios, 15 junior one‑bedroom units, and 10 one‑bedroom units; 27 parking spaces included with the property
