Updated Vacant Duplex with
For Sale
$1,795,000
346-348 Chenery Street, San Francisco, CA 94131
Residential Income, San Francisco, CA
Property Size2,700 SF
Lot Size0.06 Acres
Price / SF$664.81
Days on Market108
Property Features for 346-348 Chenery Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 2
Parking
2
Parking features
Garage, Off Street
Subdivision
SF District 5
Standard status
Active
APN
6695010
Size
2,700 SF
Lot size
0.06 Acres
Amenities
deck
garden area
Building Details
Year built
1978
Number of units
2
Listing Agency:
Compass
(415) 660-9955
Listed By:
Coby Wilson
(831) 818-5860
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 8:06PM
MLS# 426157295
Copyright © 2026 San Francisco Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated duplex contains 2,700 square feet across two residences, with each unit configured with 3 bedrooms and 2 bathrooms. Both units are delivered vacant, and the property includes a 2-car garage along with two additional off-street parking spaces. Built in 1978, the property also features a backyard with a deck and garden area.
The property is located at 346-348 Chenery Street in San Francisco’s Glen Park neighborhood. Local shops, restaurants, BART, and other neighborhood amenities are accessible from the property, providing a range of nearby conveniences for residents.
The property is located at 346-348 Chenery Street in San Francisco’s Glen Park neighborhood. Local shops, restaurants, BART, and other neighborhood amenities are accessible from the property, providing a range of nearby conveniences for residents.
Key Highlights
- Two vacant units, each with 3 bedrooms and 2 bathrooms
- 2,700 square feet on a 0.0574‑acre lot
- 2‑car garage plus two additional off‑street parking spaces
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
$95,957
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
5.35%
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%
$1,919,140
$1.9M
Cap Rate 7%
$1,370,814
$1.4M
Cap Rate 9%
$1,066,189
$1.1M
Market Conditions
NOI Build-Up for 2,700 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
$145.8K $54.00/SF
− Vacancy
−$8.7K −$3.23/SF
EGI
$137.1K $50.77/SF
− OpEx
−$41.1K −$15.23/SF
NOI
$96.0K $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%
$1,919,140
Cap Rate 7%
$1,370,814
Cap Rate 9%
$1,066,189
Alternative Uses
Best Use
Multifamily LT 5
$1.37M
$1.20M – $1.60M
NOI $95,957 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,661 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$13.19M
$11.54M – $15.39M
NOI $923,187 @ 7.0% cap · market cap 51.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,986
Businesses Nearby
Explore this area
Business Placement
Demographics for 94131, CA
28,810
Population
13,755
Households
2.1
Avg Household Size
41
Median Age
78%
College-Educated
98%
High-School Grad
2.0 sq mi
ZIP Area
14,405
Density / Sq Mi
$198,779
Median Household Income
$119,053
Median Earnings
$2,971
Median Rent
$1,749,500
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 - Two three-bedroom residences offer flexible occupancy options with private outdoor space and convenient neighborhood access.
Where is this duplex located?
The property is located at 346-348 Chenery Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Two vacant units, each with 3 bedrooms and 2 bathrooms; 2,700 square feet on a 0.0574‑acre lot; 2‑car garage plus two additional off‑street parking spaces
