Two-Unit Residential Income
616-618 Masonic Avenue San Francisco, CA 94117
616-618 Masonic Avenue, San Francisco, CA, 94117
$1,798,000
For Sale
$1,798,000
Two-unit building with one occupied two-bedroom unit and one vacant three-bedroom unit ready for immediate leasing.
Property Size3,965 SF
Price / SF$453.47
Days on Market43
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 agency
eXp Realty of California Inc
(650) 766-1462
Listed by
Michael Dhanuwidjaja · License #02164781
(650) 766-1462
Source
Exitrealty
Added: Jun 10 Updated: Jul 10 at 2:08PM Checked: Jul 21 at 6:00AM
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.
This two-unit residential income property at 616-618 Masonic Avenue is configured as a two-bedroom, one-bath unit currently generating income, along with a vacant three-bedroom, one-and-a-half-bath unit. The existing unit mix supports straightforward leasing and operations under one ownership, with an occupied unit and a unit available for prompt occupancy. Buyers may also consider updates and modernization to align the interiors and finishes with current tenant expectations.
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.
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 |
3,965 SF · lease $54.00/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$2.01M
$1.76M – $2.35M
NOI $140,914 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$1.84M
$1.61M – $2.15M
NOI $128,732 @ 7.0% cap · market cap 7.16%
Theoretical Best
Specialty Retail
$19.37M
$16.95M – $22.60M
NOI $1,355,718 @ 7.0% cap · market cap 75.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit building with one occupied two-bedroom unit and one vacant three-bedroom unit ready for immediate leasing.
Where is this duplex located?
The property is located at 616-618 Masonic Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $1,798,000.
What are key features of this property?
This property features: 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
