Six-Unit Apartment
For Sale
$2,600,000
Pending
424 20th Avenue, San Francisco, CA 94121
Well-maintained six-unit building with garage parking for seven cars and independently metered units.
Property Size5,996 SF
Days on Market95
Property Features for 424 20th Avenue
General Information
Standard status
Pending
Size
5,996 SF
Total Parking Spaces
7
Property subtype
Multi Family
Additional Details
Multifamily Units
6
Building Details
Building Size
5,996 SF
Year Built
1972
Tenancy
Multi
Listing Agency:
Compass Commercial
Listed By:
Adam D Filly · License #01354775
(415) 516-9843
Source:
Realestatenovo
Added: Jun 4
Changed: Aug 14
Last Checked: Sep 5 at 7:14AM
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 Commercial
Investment Insights
Based on property information with market context.
424 20th Avenue is a well-maintained six-unit apartment building featuring two 3bd/2ba units, two 2bd/1.5ba units, and two 1bd/1ba units. Garage parking is provided for seven cars. The two 3bd/2ba units include a gas fireplace, with spacious layouts and natural light noted in the property remarks. One of the 3bd/2ba units will be delivered vacant.
The units are separately metered for gas and electricity, and each unit has its own furnace, supporting more individualized utility responsibility. The main electrical is indicated as 400 Amps, and the subpanels for the apartments were recently replaced.
This offering is described as a turn-key acquisition, though buyers should note the transaction is a court-ordered sale and may be subject to court confirmation and overbid.
The units are separately metered for gas and electricity, and each unit has its own furnace, supporting more individualized utility responsibility. The main electrical is indicated as 400 Amps, and the subpanels for the apartments were recently replaced.
This offering is described as a turn-key acquisition, though buyers should note the transaction is a court-ordered sale and may be subject to court confirmation and overbid.
Key Highlights
- Well‑maintained six‑unit building built in 1972 in the Richmond District
- Unit mix: two 3BD/2BA, two 2BD/1.5BA, and two 1BD/1BA
- Garage parking for seven cars
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
$194,672
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
7.49%
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%
$3,893,440
$3.9M
Cap Rate 7%
$2,781,029
$2.8M
Cap Rate 9%
$2,163,022
$2.2M
Market Conditions
NOI Build-Up for 5,996 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
$377.7K $63.00/SF
− Vacancy
−$23.8K −$3.97/SF
EGI
$353.9K $59.03/SF
− OpEx
−$159.3K −$26.56/SF
NOI
$194.7K $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%
$3,893,440
Cap Rate 7%
$2,781,029
Cap Rate 9%
$2,163,022
Alternative Uses
Best Use
Apartment 5plus
$2.78M
$2.43M – $3.24M
NOI $194,672 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$29.29M
$25.63M – $34.17M
NOI $2,050,160 @ 7.0% cap · market cap 78.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,995
Businesses Nearby
Explore this area
Business Placement
Demographics for 94121, CA
43,115
Population
19,742
Households
2.2
Avg Household Size
42
Median Age
64%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
17,246
Density / Sq Mi
$138,353
Median Household Income
$74,646
Median Earnings
$2,327
Median Rent
$1,634,600
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 - Well-maintained six-unit building with garage parking for seven cars and independently metered units.
Where is this apartment building located?
The property is located at 424 20th Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Well‑maintained six‑unit building built in 1972 in the Richmond District; Unit mix: two 3BD/2BA, two 2BD/1.5BA, and two 1BD/1BA; Garage parking for seven cars
