Nine-Unit Apartment
For Sale
$2,995,000
500 Greenwich Street, San Francisco, CA 94133
Historic wood-frame property with secured entry, on-site laundry, storage, and parking.
Property Size5,832 SF
Lot Size0.05 Acres
Price / SF$513.55
Days on Market56
Property Features for 500 Greenwich Street
General Information
Standard status
Active
Size
5,832 SF
Total Parking Spaces
2
Lot size
0.05 Acres
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 1BR/1BA, 3 x studio
Multifamily Units
9
Amenities
secured entry
on-site laundry
storage space
Building Details
Building Size
5,832 SF
Year Built
1907
Buildings
1
Construction
wood-frame
Listing Agency:
Colliers International
(415) 288-7847
Listed By:
Brad Lagomarsino · License #01058500
Source:
Realestatenovo
Added: Jul 6
Changed: Aug 29
Last Checked: Jul 24 at 11:24AM
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.
Located at 500 Greenwich Street in San Francisco’s North Beach neighborhood, this 1907 wood-frame apartment building contains approximately 5,832 square feet on a 2,156-square-foot lot. The property includes nine units: six one-bedroom, one-bath apartments and three studios. Two on-site parking spaces, secured entry, laundry facilities, and storage support day-to-day resident use.
Interior features include hardwood and carpeted flooring, generous layouts, natural light, closet space, and kitchens and bathrooms consistent with the building’s historic character. The building has completed San Francisco’s Soft-Story Seismic Retrofit and is separately metered for gas and electricity. Washington Square Park, Coit Tower, restaurants, cafés, retail, and public transportation are all located near the property. Current rents are reported at approximately 108% below market levels, providing a defined rent-growth consideration for ownership.
Interior features include hardwood and carpeted flooring, generous layouts, natural light, closet space, and kitchens and bathrooms consistent with the building’s historic character. The building has completed San Francisco’s Soft-Story Seismic Retrofit and is separately metered for gas and electricity. Washington Square Park, Coit Tower, restaurants, cafés, retail, and public transportation are all located near the property. Current rents are reported at approximately 108% below market levels, providing a defined rent-growth consideration for ownership.
Key Highlights
- Nine total units: six one‑bedroom/one‑bath apartments and three studios
- Approximately 5,832 square feet on a 2,156‑square‑foot lot
- Built in 1907; completed San Francisco Soft‑Story Seismic Retrofit
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
$189,348
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
6.32%
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%
$3,786,960
$3.8M
Cap Rate 7%
$2,704,971
$2.7M
Cap Rate 9%
$2,103,867
$2.1M
Market Conditions
NOI Build-Up for 5,832 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
$367.4K $63.00/SF
− Vacancy
−$23.1K −$3.97/SF
EGI
$344.3K $59.03/SF
− OpEx
−$154.9K −$26.56/SF
NOI
$189.3K $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%
$3,786,960
Cap Rate 7%
$2,704,971
Cap Rate 9%
$2,103,867
Alternative Uses
Best Use
Apartment 5plus
$2.70M
$2.37M – $3.16M
NOI $189,348 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$28.49M
$24.93M – $33.23M
NOI $1,994,085 @ 7.0% cap · market cap 66.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 94133, CA
26,751
Population
15,733
Households
1.7
Avg Household Size
41
Median Age
55%
College-Educated
80%
High-School Grad
0.7 sq mi
ZIP Area
38,216
Density / Sq Mi
$83,025
Median Household Income
$78,478
Median Earnings
$1,985
Median Rent
$1,519,100
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 - Historic wood-frame property with secured entry, on-site laundry, storage, and parking.
Where is this apartment building located?
The property is located at 500 Greenwich Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Nine total units: six one‑bedroom/one‑bath apartments and three studios; Approximately 5,832 square feet on a 2,156‑square‑foot lot; Built in 1907; completed San Francisco Soft‑Story Seismic Retrofit
