Mid-Century Duplex with
For Sale
$2,495,000
39-41 Chenery Street, San Francisco, CA 94131
Residential Income, San Francisco, CA
Property Size3,329 SF
Lot Size0.06 Acres
Price / SF$749.47
Days on Market104
Property Features for 39-41 Chenery Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Laundry Room, Bedroom 2, Bathroom 1
Parking
2
Parking features
Side By Side, Garage
Appliances
Dishwasher, Free-Standing Gas Range, Free-Standing Refrigerator, Microwave
Lot features
Garden, Landscaped, Garden, Landscaped
Subdivision
SF District 5
Standard status
Active
APN
6657055
Size
3,329 SF
Lot size
0.06 Acres
Utilities
Heating system
Natural Gas, Central
Building Details
Year built
1961
Number of units
2
Flooring type
Wood
Listing Agency:
Compass
(415) 660-9955
Listed By:
C.M. Foo
(415) 706-6550
Added: Jun 1
Changed: Sep 11
Last Checked: Sep 12 at 5:06PM
MLS# 426159444
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.
Built in 1961, this 3,329-square-foot duplex contains two vacant residences with matching full-floor layouts. Each unit includes living and dining areas, a remodeled kitchen and bathroom, rear bedrooms opening to a walkout deck, and a garden-level flex room. The property also offers a two-car side-by-side garage, wood flooring, central natural-gas heat, and appliances including a dishwasher, gas range, refrigerator, and microwave. The lot encompasses 0.0626 acres with a deep landscaped backyard.
Located at 39-41 Chenery Street in San Francisco, the property provides access to Noe Valley cafés, restaurants, parks, BART, and freeways. Both residences are vacant, allowing immediate occupancy or leasing without an existing tenant in place.
Located at 39-41 Chenery Street in San Francisco, the property provides access to Noe Valley cafés, restaurants, parks, BART, and freeways. Both residences are vacant, allowing immediate occupancy or leasing without an existing tenant in place.
Key Highlights
- Two vacant residences with matching full‑floor layouts
- 3,329 square feet on a 0.0626‑acre lot
- Two‑car side‑by‑side garage
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two vacant full-floor residences feature remodeled kitchens, rear bedrooms, garden-level flex rooms, and a shared 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 residences with matching full‑floor layouts; 3,329 square feet on a 0.0626‑acre lot; Two‑car side‑by‑side garage
