Park-Facing Two-Unit
For Sale
$1,775,000
3427 Lincoln Way San, San Francisco, CA 94122
Maintained residential income property with separate utilities, private laundry, parking, storage, and shared outdoor space.
Property Size2,500 SF
Days on Market188
Property Features for 3427 Lincoln Way San
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Duplex
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
garage & driveway parking
in-unit washer and dryer
private lockable storage rooms
shared backyard
separate water and electrical meters
Fireplace
Fireplace(s)
Dishwasher
Free-Standing Gas Range
Free-Standing Refrigerator
Patio, Porch
Building Details
Building Size
2,500 SF
Year Built
1948
Buildings
1
Listing Agency:
Compass
(415) 528-1318
Listed By:
Barbara Brodrick · License #01356672
Source:
Kw
Added: Feb 23
Changed: Aug 29
Last Checked: Aug 29 at 6:53PM
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
Investment Insights
Based on property information with market context.
This 1948 duplex faces Golden Gate Park and includes two separate residences. Both units have dedicated washers and dryers, while separate water and electrical meters support independent household utility management. The property also includes garage and driveway parking, two private lockable storage rooms, a shared backyard, and patio and porch areas. Interior features include fireplaces, a dishwasher, a free-standing gas range, and a free-standing refrigerator.
Electrical and plumbing systems have been updated throughout, with a newer roof and exterior paint completed within the past two years. The upper residence is available to show, while the lower residence is occupied under a month-to-month lease. The property is on Lincoln Way with access to public transportation and nearby dining, shops, and other neighborhood amenities.
Electrical and plumbing systems have been updated throughout, with a newer roof and exterior paint completed within the past two years. The upper residence is available to show, while the lower residence is occupied under a month-to-month lease. The property is on Lincoln Way with access to public transportation and nearby dining, shops, and other neighborhood amenities.
Key Highlights
- Two‑unit duplex built in 1948 facing Golden Gate Park
- Updated electrical and plumbing throughout; newer roof
- Separate water and electrical meters for each residence
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
$83,913
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
4.73%
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%
$1,678,260
$1.7M
Cap Rate 7%
$1,198,757
$1.2M
Cap Rate 9%
$932,367
$932.4K
Market Conditions
NOI Build-Up for 2,500 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
$127.5K $51.00/SF
− Vacancy
−$7.6K −$3.05/SF
EGI
$119.9K $47.95/SF
− OpEx
−$36.0K −$14.39/SF
NOI
$83.9K $33.57/SF
Area
ZIP 94122
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%
$1,678,260
Cap Rate 7%
$1,198,757
Cap Rate 9%
$932,367
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,913 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$1.08M
$943.1K – $1.26M
NOI $75,447 @ 7.0% cap · market cap 4.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 94122, CA
57,160
Population
24,155
Households
2.4
Avg Household Size
39
Median Age
63%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
17,321
Density / Sq Mi
$145,717
Median Household Income
$80,501
Median Earnings
$2,720
Median Rent
$1,507,100
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 - Maintained residential income property with separate utilities, private laundry, parking, storage, and shared outdoor space.
Where is this duplex located?
The property is located at 3427 Lincoln Way San San Francisco, CA.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1948 facing Golden Gate Park; Updated electrical and plumbing throughout; newer roof; Separate water and electrical meters for each residence
