4-Unit Residential Building with
New
For Sale
$2,295,000
4918 California Street, San Francisco, CA 94118
Four two-bedroom residences include a renovated vacant unit with in-unit laundry and parking.
Property Size3,510 SF
Days on Market4
Property Features for 4918 California Street
General Information
Standard status
Active
Size
3,510 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
landscaped rear yard
Building Details
Building Size
3,510 SF
Year Built
1923
Buildings
1
Listing Agency:
Compass
Listed By:
Allison Chapleau · License #01369080
(415) 321-7000
Source:
Paytonslist
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 6 at 7:47AM
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
Investment Insights
Based on property information with market context.
This 3,510-square-foot quadplex was built in 1923 and contains four two-bedroom, one-bathroom units. One residence is vacant and remodeled with shaker cabinetry, quartz countertops, stainless steel appliances, a seating peninsula, hardwood flooring, in-unit laundry, and a bay window overlooking the living and dining area. The property also includes a vacant street-facing garage and a landscaped rear yard.
Located on California Street in San Francisco’s Lake District of the Inner Richmond, the property is near the Presidio, Mountain Lake Park, neighborhood retail and dining, public transportation, and other Richmond District amenities. Three additional units produce rental income, while the vacant residence provides immediate occupancy flexibility.
Located on California Street in San Francisco’s Lake District of the Inner Richmond, the property is near the Presidio, Mountain Lake Park, neighborhood retail and dining, public transportation, and other Richmond District amenities. Three additional units produce rental income, while the vacant residence provides immediate occupancy flexibility.
Key Highlights
- Four 2‑bedroom, 1‑bathroom units in a 3,510 SF building
- Built in 1923
- One remodeled vacant unit with quartz counters, stainless steel appliances, and in‑unit laundry
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
$124,744
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
5.44%
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%
$2,494,880
$2.5M
Cap Rate 7%
$1,782,057
$1.8M
Cap Rate 9%
$1,386,044
$1.4M
Market Conditions
NOI Build-Up for 3,510 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
$189.5K $54.00/SF
− Vacancy
−$11.3K −$3.23/SF
EGI
$178.2K $50.77/SF
− OpEx
−$53.5K −$15.23/SF
NOI
$124.7K $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%
$2,494,880
Cap Rate 7%
$1,782,057
Cap Rate 9%
$1,386,044
Alternative Uses
Best Use
Multifamily LT 5
$1.78M
$1.56M – $2.08M
NOI $124,744 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$1.63M
$1.42M – $1.90M
NOI $113,959 @ 7.0% cap · market cap 4.97%
Theoretical Best
Specialty Retail
$17.14M
$15.00M – $20.00M
NOI $1,200,144 @ 7.0% cap · market cap 52.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,850
Businesses Nearby
Explore this area
Business Placement
Demographics for 94118, CA
42,356
Population
19,052
Households
2.2
Avg Household Size
37
Median Age
72%
College-Educated
94%
High-School Grad
2.0 sq mi
ZIP Area
21,178
Density / Sq Mi
$159,550
Median Household Income
$92,946
Median Earnings
$2,695
Median Rent
$1,817,200
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?
Quadplex - Four two-bedroom residences include a renovated vacant unit with in-unit laundry and parking.
Where is this quadplex located?
The property is located at 4918 California Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bathroom units in a 3,510 SF building; Built in 1923; One remodeled vacant unit with quartz counters, stainless steel appliances, and in‑unit laundry
