616-618 Masonic Avenue San Francisco, CA 94117
Two-unit building with one occupied two-bedroom unit and one vacant three-bedroom unit ready for immediate leasing.
Property Features for 616-618 Masonic Avenue
General Information
- Standard status
- Active
- Size
- 3,965 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1919
Listing office eXp Realty of California Inc (650) 766-1462
Listing date Jun 10, 2026
Source Exitrealty
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 eXp Realty of California Inc
Investment Insights
Based on property information with market context.
The property is positioned near the University of San Francisco and the Panhandle, with access to public transportation and nearby neighborhood retail and dining. Proximity to Panhandle Park adds another nearby recreational option for residents.
For investors, this arrangement offers in-place income from the currently occupied unit while providing the flexibility of a second unit that can be leased once renovations, if any, are completed. For buyers seeking a manageable transition plan, the presence of a vacant unit can simplify execution of interior improvements and help align both units under a consistent rent and amenity strategy. Buyer to verify any expansion potential within the existing building envelope.
Key Highlights
- Two‑unit building built in 1919: one occupied 2‑bedroom, 1‑bath unit and one vacant 3‑bedroom, 1.5‑bath unit
- Vacant 3‑bedroom unit provides the ability to lease immediately at market rents or reposition for returns
- In‑place income from the currently occupied 2‑bedroom unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $214.1k | $54.00 |
| − Vacancy | −$12.8k | −$3.23 |
| EGI | $201.3k | $50.77 |
| − OpEx | −$60.4k | −$15.23 |
| NOI | $140.9k | $35.54 |
