Three-Level Live-Work
For Sale
Contact for pricing
4 Card Alley, San Francisco, CA 94133
Two updated residences accompany a ground-level studio with private entry, bath, storage, and direct interior access.
Property Size2,975 SF
Price / SF$805.04
Days on Market10
Property Features for 4 Card Alley
General Information
Standard status
Active
Size
2,975 SF
Property subtype
Multifamily, Office, Mixed Use
Zoning
NCD
Investment Type
Owner/User
Additional Details
Office Units
1
Building Details
Year Built
1907
Buildings
1
Stories
3
Units
3
Tenancy
Single
Listing Agency:
Compass San Francisco
Listed By:
Davis Nguyen · License #CA 01509978
(415) 345-3000
Source:
Crexi
Added: Aug 24
Changed: Sep 1
Last Checked: Sep 1 at 9:11PM
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 San Francisco
Investment Insights
Based on property information with market context.
This 1907 San Francisco property combines two residences with a 1,095-square-foot ground-level Flex Studio across three levels. The upper residence includes 3 bedrooms, 2 updated baths, hardwood floors, tall ceilings, classic millwork, open living areas, custom cabinetry, quartz countertops, premium appliances, and a Thermador gas range. The lower residence offers 2 bedrooms, 2 renovated baths, hardwood floors, updated kitchen and living spaces, a period built-in dining hutch, and an interior patio.
The private studio has its own street entrance, full bath with dual vanities and a spa-like shower, ample storage, and interior access to the residence above. It can serve as a private office, creative or design studio, media room, fitness space, or workshop. The 2,975-square-foot property is zoned NCD and supports a range of live-work arrangements, including occupying one residence while renting the other.
The private studio has its own street entrance, full bath with dual vanities and a spa-like shower, ample storage, and interior access to the residence above. It can serve as a private office, creative or design studio, media room, fitness space, or workshop. The 2,975-square-foot property is zoned NCD and supports a range of live-work arrangements, including occupying one residence while renting the other.
Key Highlights
- 2,975‑square‑foot, three‑level property built in 1907
- Two residences: upper 3‑bedroom and lower 2‑bedroom layouts
- 1,095± sq. ft. ground‑level Flex Studio with private street entrance
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
$105,730
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
4.41%
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%
$2,114,600
$2.1M
Cap Rate 7%
$1,510,429
$1.5M
Cap Rate 9%
$1,174,778
$1.2M
Market Conditions
NOI Build-Up for 2,975 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
$160.7K $54.00/SF
− Vacancy
−$9.6K −$3.23/SF
EGI
$151.0K $50.77/SF
− OpEx
−$45.3K −$15.23/SF
NOI
$105.7K $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%
$2,114,600
Cap Rate 7%
$1,510,429
Cap Rate 9%
$1,174,778
Alternative Uses
Best Use
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,730 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,589 @ 7.0% cap · market cap 4.03%
Theoretical Best
Specialty Retail
$14.53M
$12.72M – $16.95M
NOI $1,017,216 @ 7.0% cap · market cap 42.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
20,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 94133, CA
26,751
Population
15,733
Households
1.7
Avg Household Size
41
Median Age
55%
College-Educated
80%
High-School Grad
0.7 sq mi
ZIP Area
38,216
Density / Sq Mi
$83,025
Median Household Income
$78,478
Median Earnings
$1,985
Median Rent
$1,519,100
Median Home Value
Market
Vacancy Rate% for Office in San Francisco, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Two updated residences accompany a ground-level studio with private entry, bath, storage, and direct interior access.
Where is this live-work space located?
The property is located at 4 Card Alley San Francisco, CA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: 2,975‑square‑foot, three‑level property built in 1907; Two residences: upper 3‑bedroom and lower 2‑bedroom layouts; 1,095± sq. ft. ground‑level Flex Studio with private street entrance
