12-Unit Apartment
New
For Sale
$6,300,000
550 Baker, San Francisco, CA 94117
Classic multifamily property with varied unit layouts, resident laundry, and a shared backyard.
Property Size10,386 SF
Price / SF$606.59
Days on Market4
Property Features for 550 Baker
General Information
Standard status
Active
Size
10,386 SF
Property subtype
Residential Income
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR, 9 x 2BR, 1 x 3BR
Multifamily Units
12
Amenities
laundry
shared backyard
Building Details
Building Size
10,386 SF
Year Built
1909
Buildings
1
Listed By:
The Wiley Team
(415) 317-5888
Source:
Sanfranciscorealestategroup.idxbroker
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 12 at 3:40AM
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 The Wiley Team
Investment Insights
Based on property information with market context.
Located at 550 Baker Street in San Francisco, this 12-unit apartment building was constructed in 1909 and contains approximately 10,386 square feet. The unit mix includes two one-bedroom apartments, nine two-bedroom apartments, and one three-bedroom apartment. Interior details include hardwood floors, box beam ceilings, fireplaces, substantial closet storage, natural light, and eat-in kitchens. On-site and in-unit laundry are provided, along with a small shared backyard.
The property is in the North Panhandle neighborhood near the Panhandle, Alamo Square Park, and the Divisadero Street commercial corridor. Restaurants, cafes, neighborhood markets, public transportation, and major employment centers are located nearby. Gas and electric services are separately metered. Required San Francisco soft-story work has been completed, and the building complies with the Fire Alarm Sleeping Room Ordinance.
The property is in the North Panhandle neighborhood near the Panhandle, Alamo Square Park, and the Divisadero Street commercial corridor. Restaurants, cafes, neighborhood markets, public transportation, and major employment centers are located nearby. Gas and electric services are separately metered. Required San Francisco soft-story work has been completed, and the building complies with the Fire Alarm Sleeping Room Ordinance.
Key Highlights
- 12‑unit apartment building constructed in 1909
- Approximately 10,386 square feet with 2 one‑bedroom, 9 two‑bedroom, and 1 three‑bedroom apartment
- Hardwood flooring, box beam ceilings, fireplaces, eat‑in kitchens, and generous closet space
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
$337,203
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
5.35%
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%
$6,744,060
$6.7M
Cap Rate 7%
$4,817,186
$4.8M
Cap Rate 9%
$3,746,700
$3.7M
Market Conditions
NOI Build-Up for 10,386 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
$654.3K $63.00/SF
− Vacancy
−$41.2K −$3.97/SF
EGI
$613.1K $59.03/SF
− OpEx
−$275.9K −$26.56/SF
NOI
$337.2K $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%
$6,744,060
Cap Rate 7%
$4,817,186
Cap Rate 9%
$3,746,700
Alternative Uses
Best Use
Apartment 5plus
$4.82M
$4.22M – $5.62M
NOI $337,203 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$50.73M
$44.39M – $59.19M
NOI $3,551,194 @ 7.0% cap · market cap 56.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,991
Businesses Nearby
Explore this area
Business Placement
Demographics for 94117, CA
38,451
Population
19,709
Households
2
Avg Household Size
36
Median Age
78%
College-Educated
96%
High-School Grad
1.3 sq mi
ZIP Area
29,578
Density / Sq Mi
$175,096
Median Household Income
$106,542
Median Earnings
$2,786
Median Rent
$1,641,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Classic multifamily property with varied unit layouts, resident laundry, and a shared backyard.
Where is this apartment building located?
The property is located at 550 Baker San Francisco, CA.
What is the asking price?
The asking price for this property is $6,300,000.
What are key features of this property?
This property features: 12‑unit apartment building constructed in 1909; Approximately 10,386 square feet with 2 one‑bedroom, 9 two‑bedroom, and 1 three‑bedroom apartment; Hardwood flooring, box beam ceilings, fireplaces, eat‑in kitchens, and generous closet space
