12-Unit Apartment
For Sale
$5,150,000
41 Octavia Street, San Francisco, CA 94102
Classic San Francisco property with remodeled units, separate utilities, laundry, bike storage, and resident storage areas.
Property Size12,448 SF
Days on Market63
Property Features for 41 Octavia Street
General Information
Standard status
Active
Size
12,448 SF
Property subtype
Multi Family
Building Details
Building Size
12,448 SF
Year Built
1904
Listing Agency:
Colliers International
(415) 288-7847
Listed By:
Brad Lagomarsino · License #01058500
Source:
Bonniespindler
Added: Jun 29
Changed: Aug 29
Last Checked: Jul 7 at 7:45AM
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 Colliers International
Investment Insights
Based on property information with market context.
Built in 1904, this approximately 12,448-square-foot apartment property contains twelve units: four one-bedroom, one-bathroom homes; six two-bedroom, one-bathroom homes; and two two-bedroom, two-bathroom homes. Most residences have been remodeled while retaining classic San Francisco architectural character and spacious floor plans. Property improvements and amenities include a concrete foundation replaced in 1996, predominantly copper plumbing, double-pane windows, separately metered gas and electric service, coin-operated laundry, bike areas, and storage areas.
The property is located at 41 Octavia Street between Market Street and Hayes Street in San Francisco’s Hayes Valley neighborhood. Dining, shopping, entertainment, and public transportation options are located throughout the surrounding area and provide access across San Francisco and the greater Bay Area.
The property is located at 41 Octavia Street between Market Street and Hayes Street in San Francisco’s Hayes Valley neighborhood. Dining, shopping, entertainment, and public transportation options are located throughout the surrounding area and provide access across San Francisco and the greater Bay Area.
Key Highlights
- Twelve‑unit apartment property totaling approximately 12,448 square feet
- Unit mix includes four 1‑bedroom, six 2‑bedroom, 1‑bathroom, and two 2‑bedroom, 2‑bathroom units
- Built in 1904 with a concrete foundation replaced in 1996
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
$404,150
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
7.85%
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%
$8,083,000
$8.1M
Cap Rate 7%
$5,773,571
$5.8M
Cap Rate 9%
$4,490,556
$4.5M
Market Conditions
NOI Build-Up for 12,448 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
$784.2K $63.00/SF
− Vacancy
−$49.4K −$3.97/SF
EGI
$734.8K $59.03/SF
− OpEx
−$330.7K −$26.56/SF
NOI
$404.1K $32.47/SF
Area
San Francisco, CA
Vacancy
6.30%
Lease Rate
$63.00 /SF/Yr
Expense Ratio
45.00%
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%
$8,083,000
Cap Rate 7%
$5,773,571
Cap Rate 9%
$4,490,556
Alternative Uses
Best Use
Apartment 5plus
$5.77M
$5.05M – $6.74M
NOI $404,150 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$60.80M
$53.20M – $70.94M
NOI $4,256,236 @ 7.0% cap · market cap 82.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 94102, CA
39,432
Population
23,153
Households
1.7
Avg Household Size
40
Median Age
42%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
56,331
Density / Sq Mi
$64,781
Median Household Income
$55,873
Median Earnings
$1,517
Median Rent
$996,300
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?
Apartment building - Classic San Francisco property with remodeled units, separate utilities, laundry, bike storage, and resident storage areas.
Where is this apartment building located?
The property is located at 41 Octavia Street San Francisco, CA.
What is the asking price?
The asking price for this property is $5,150,000.
What are key features of this property?
This property features: Twelve‑unit apartment property totaling approximately 12,448 square feet; Unit mix includes four 1‑bedroom, six 2‑bedroom, 1‑bathroom, and two 2‑bedroom, 2‑bathroom units; Built in 1904 with a concrete foundation replaced in 1996
