Duplex with Two Remodeled
New
For Sale
$1,588,000
418 Baden Avenue, South San Francisco, CA 94080
Two updated residences share one lot with separate living areas, garages, and connected outdoor space.
Property Size2,279 SF
Price / SF$696.80
Days on Market5
Property Features for 418 Baden Avenue
General Information
Standard status
Active
Size
2,279 SF
Property subtype
2 Houses on Lot
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Building Size
2,279 SF
Buildings
2
Listing Agency:
Bocci Realty, Richard J.
(650) 756-6333
Listed By:
Nicholas A Bocci
Source:
Swanngroupsf
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 15 at 8:43AM
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 Bocci Realty, Richard J.
Investment Insights
Based on property information with market context.
This duplex property includes two extensively remodeled residences on a shared lot. The home at 418 Baden Avenue contains 1,355 square feet with 3 bedrooms and 2 bathrooms, a main-level living and dining area, plus a lower-level family or bonus room, laundry hookups, storage, and a garage. The second residence at 419 3rd Lane measures 924 square feet and offers 2 bedrooms, 1 bathroom, separate living and dining rooms, and a lower level with a two-car, side-by-side garage.
An expansive backyard and walkway connect the homes, creating shared outdoor space between the residences. The combined property contains 2,279 square feet across both houses and includes multiple garages, providing on-site parking and storage.
An expansive backyard and walkway connect the homes, creating shared outdoor space between the residences. The combined property contains 2,279 square feet across both houses and includes multiple garages, providing on-site parking and storage.
Key Highlights
- Two remodeled homes on one lot
- Combined 2,279 square feet across both residences
- 418 Baden Avenue: 1,355 square feet, 3 bedrooms, and 2 bathrooms
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
$66,227
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
4.17%
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%
$1,324,540
$1.3M
Cap Rate 7%
$946,100
$946.1K
Cap Rate 9%
$735,856
$735.9K
Market Conditions
NOI Build-Up for 2,279 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
$101.2K $44.40/SF
− Vacancy
−$6.6K −$2.89/SF
EGI
$94.6K $41.51/SF
− OpEx
−$28.4K −$12.45/SF
NOI
$66.2K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /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%
$1,324,540
Cap Rate 7%
$946,100
Cap Rate 9%
$735,856
Alternative Uses
Best Use
Multifamily LT 5
$946.1K
$827.8K – $1.10M
NOI $66,227 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$886.1K
$775.4K – $1.03M
NOI $62,028 @ 7.0% cap · market cap 3.91%
Theoretical Best
Warehouse
$1.81M
$1.58M – $2.11M
NOI $126,717 @ 7.0% cap · market cap 7.98%
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
2,336
Businesses Nearby
Explore this area
Business Placement
Demographics for 94080, CA
66,592
Population
23,364
Households
2.9
Avg Household Size
40
Median Age
40%
College-Educated
86%
High-School Grad
10.2 sq mi
ZIP Area
6,529
Density / Sq Mi
$135,966
Median Household Income
$61,138
Median Earnings
$2,840
Median Rent
$1,159,500
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 updated residences share one lot with separate living areas, garages, and connected outdoor space.
Where is this duplex located?
The property is located at 418 Baden Avenue South San Francisco, CA.
What is the asking price?
The asking price for this property is $1,588,000.
What are key features of this property?
This property features: Two remodeled homes on one lot; Combined 2,279 square feet across both residences; 418 Baden Avenue: 1,355 square feet, 3 bedrooms, and 2 bathrooms
