Vacant Mid-Century Apartment
For Sale
$2,670,000
474 27th Avenue San, San Francisco, CA 94121
Fully vacant multifamily property with ground-level parking, in-building laundry, and upper-level residential units.
Property Size4,896 SF
Lot Size0.08 Acres
Days on Market221
Property Features for 474 27th Avenue San
General Information
Standard status
Active
Size
4,896 SF
Total Parking Spaces
7
Lot size
0.08 Acres
Property subtype
Multi-Family
Units
Multifamily Units
7
Parking per Unit
1
Additional Details
Public Transit
Yes
Amenities
in-building laundry
Security System
Wall Furnace
Free-Standing Electric Range
Gated Entry
Building Details
Building Size
4,896 SF
Year Built
1964
Buildings
1
Listing Agency:
Park North Real Estate
(415) 233-8333
Listed By:
Katie A Tostanoski
Source:
Kw
Added: Jan 23
Changed: Aug 31
Last Checked: Aug 31 at 12:23AM
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 Park North Real Estate
Investment Insights
Based on property information with market context.
Built in 1964, this vacant apartment building occupies a 3,349-square-foot lot and includes residential units arranged above a ground-level parking area. The property features a paneled and brick entry, gated access, hardwood flooring, large closets, functional layouts, and in-building laundry. Select residences offer abundant natural light and partial views toward downtown and the Golden Gate Bridge.
The building is positioned just off Geary Boulevard in San Francisco’s Richmond District, with dining, shopping, and public transportation options located nearby. Interior features include wall furnaces, free-standing electric ranges, and a security system, providing a defined physical starting point for renovation or repositioning plans.
The building is positioned just off Geary Boulevard in San Francisco’s Richmond District, with dining, shopping, and public transportation options located nearby. Interior features include wall furnaces, free-standing electric ranges, and a security system, providing a defined physical starting point for renovation or repositioning plans.
Key Highlights
- Fully vacant apartment building built in 1964
- 3,349 square foot lot
- Ground‑level parking area with gated entry
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
$158,959
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
5.95%
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%
$3,179,180
$3.2M
Cap Rate 7%
$2,270,843
$2.3M
Cap Rate 9%
$1,766,211
$1.8M
Market Conditions
NOI Build-Up for 4,896 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
$308.4K $63.00/SF
− Vacancy
−$19.4K −$3.97/SF
EGI
$289.0K $59.03/SF
− OpEx
−$130.1K −$26.56/SF
NOI
$159.0K $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%
$3,179,180
Cap Rate 7%
$2,270,843
Cap Rate 9%
$1,766,211
Alternative Uses
Best Use
Apartment 5plus
$2.27M
$1.99M – $2.65M
NOI $158,959 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$23.91M
$20.93M – $27.90M
NOI $1,674,046 @ 7.0% cap · market cap 62.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,768
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 - Fully vacant multifamily property with ground-level parking, in-building laundry, and upper-level residential units.
Where is this apartment building located?
The property is located at 474 27th Avenue San San Francisco, CA.
What is the asking price?
The asking price for this property is $2,670,000.
What are key features of this property?
This property features: Fully vacant apartment building built in 1964; 3,349 square foot lot; Ground‑level parking area with gated entry
