Quadplex with On-Site
For Sale
$1,549,000
Pending
607-609 Masonic, San Francisco, CA 94117
Mixed unit layouts, bonus rooms, shared outdoor space, laundry, and separately metered utilities add functional flexibility.
Property Size3,516 SF
Days on Market52
Property Features for 607-609 Masonic
General Information
Standard status
Pending
Size
3,516 SF
Total Parking Spaces
1
Property subtype
Residential Income
Occupancy
75%
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
coin-operated laundry
shared backyard
Building Details
Building Size
3,516 SF
Year Built
1916
Buildings
1
Tenancy
Multi
Listing Agency:
(415) 317-5888
Listed By:
The Wiley Team
(415) 317-5888
Source:
Sanfranciscorealestategroup.idxbroker
Added: Jul 10
Changed: Aug 30
Last Checked: Aug 30 at 7:03AM
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.
Built in 1916, this 3,516-square-foot quadplex contains four residential units: two two-bedroom, one-bath homes and two one-bedroom, one-bath homes. Each one-bedroom unit also includes an additional flex room or office. Separate bonus rooms on the ground level are outside the four primary units.
Three units are occupied, while one one-bedroom unit is vacant for delivery. The property includes one-car parking, a shared backyard, and coin-operated laundry. Gas and electric service are separately metered for each unit.
The building is located at 607-609 Masonic in San Francisco’s North Panhandle neighborhood, within blocks of Haight Street, the Panhandle park, the Divisadero corridor, and central NOPA. The property has a 95 Walk Score.
Three units are occupied, while one one-bedroom unit is vacant for delivery. The property includes one-car parking, a shared backyard, and coin-operated laundry. Gas and electric service are separately metered for each unit.
The building is located at 607-609 Masonic in San Francisco’s North Panhandle neighborhood, within blocks of Haight Street, the Panhandle park, the Divisadero corridor, and central NOPA. The property has a 95 Walk Score.
Key Highlights
- Four‑unit building totaling approximately 3,516 square feet
- Unit mix includes two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units
- Each 1‑bedroom unit has an additional flex room or office 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
$124,957
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
8.07%
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%
$2,499,140
$2.5M
Cap Rate 7%
$1,785,100
$1.8M
Cap Rate 9%
$1,388,411
$1.4M
Market Conditions
NOI Build-Up for 3,516 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
$189.9K $54.00/SF
− Vacancy
−$11.4K −$3.23/SF
EGI
$178.5K $50.77/SF
− OpEx
−$53.6K −$15.23/SF
NOI
$125.0K $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%
$2,499,140
Cap Rate 7%
$1,785,100
Cap Rate 9%
$1,388,411
Alternative Uses
Best Use
Multifamily LT 5
$1.79M
$1.56M – $2.08M
NOI $124,957 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,154 @ 7.0% cap · market cap 7.37%
Theoretical Best
Specialty Retail
$17.17M
$15.03M – $20.04M
NOI $1,202,195 @ 7.0% cap · market cap 77.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,065
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
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 - Mixed unit layouts, bonus rooms, shared outdoor space, laundry, and separately metered utilities add functional flexibility.
Where is this quadplex located?
The property is located at 607-609 Masonic San Francisco, CA.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: Four‑unit building totaling approximately 3,516 square feet; Unit mix includes two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units; Each 1‑bedroom unit has an additional flex room or office space
