Vacant Two-Unit
For Sale
$2,495,000
Pending
39-41 Chenery Street, San Francisco, CA 94131
Two full-floor homes feature updated kitchens and baths, garden-level flex rooms, walkout decks, and access to a landscaped backyard.
Property Size3,329 SF
Days on Market17
Property Features for 39-41 Chenery Street
General Information
Standard status
Pending
Size
3,329 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Building Size
3,329 SF
Year Built
1961
Buildings
1
Construction
mid-century
Listing Agency:
Compass
Listed By:
C.M. Foo
(415) 706-6550
Source:
Adelaidamejiasf
Added: Sep 11
Changed: Sep 26
Last Checked: Sep 26 at 1:22PM
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.
Built in 1961, this 3,329-square-foot duplex contains two vacant residences arranged across full floors with matching layouts. Each home includes living and dining areas, remodeled kitchens and bathrooms, rear bedrooms, a garden-level flex room, and a walkout deck. The property also provides a two-car garage and a deep, landscaped backyard.
The residences are fully vacant, with no record of eviction, allowing immediate occupancy or leasing. The property is located on Chenery Street in San Francisco, with access to neighborhood cafés, restaurants, parks, BART, and freeways. Noe Valley and Glen Park are identified in the surrounding context.
The residences are fully vacant, with no record of eviction, allowing immediate occupancy or leasing. The property is located on Chenery Street in San Francisco, with access to neighborhood cafés, restaurants, parks, BART, and freeways. Noe Valley and Glen Park are identified in the surrounding context.
Key Highlights
- Two vacant full‑floor residences with identical floor plans
- 3,329 SF duplex built in 1961
- Two‑car garage and deep, landscaped backyard
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
$118,311
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
4.74%
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%
$2,366,220
$2.4M
Cap Rate 7%
$1,690,157
$1.7M
Cap Rate 9%
$1,314,567
$1.3M
Market Conditions
NOI Build-Up for 3,329 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
$179.8K $54.00/SF
− Vacancy
−$10.8K −$3.23/SF
EGI
$169.0K $50.77/SF
− OpEx
−$50.7K −$15.23/SF
NOI
$118.3K $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%
$2,366,220
Cap Rate 7%
$1,690,157
Cap Rate 9%
$1,314,567
Alternative Uses
Best Use
Multifamily LT 5
$1.69M
$1.48M – $1.97M
NOI $118,311 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $108,083 @ 7.0% cap · market cap 4.33%
Theoretical Best
Specialty Retail
$16.26M
$14.23M – $18.97M
NOI $1,138,256 @ 7.0% cap · market cap 45.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,996
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 full-floor homes feature updated kitchens and baths, garden-level flex rooms, walkout decks, and access to a landscaped backyard.
Where is this duplex located?
The property is located at 39-41 Chenery Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Two vacant full‑floor residences with identical floor plans; 3,329 SF duplex built in 1961; Two‑car garage and deep, landscaped backyard
