Mixed-Use Property with
For Sale
$1,390,000
6246 3rd St, San Francisco, CA 94124
MULTI_FAMILY - San Francisco, CA
Property Size3,150 SF
Lot Size0.06 Acres
Price / SF$441.27
Days on Market446
Property Features for 6246 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 5
Exterior features
No Yard
Subdivision
Bayview
Lot features
Rectangular Lot
Directions
101 to 3rd St.
Standard status
Active
APN
5461 052
Size
3,150 SF
Lot size
0.06 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1907
Number of units
4
Flooring type
Tile
Building materials
Wood Siding
Roof type
Rolled Hot Mop
Listing Agency:
EXP Realty of California, Inc
(888) 584-9427
Listed By:
Garrick Yan · License #01916102
(510) 999-8008
Added: May 20, 2025
Changed: Aug 3
Last Checked: Aug 8 at 12:06PM
MLS# 41098173
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property is anchored by an established laundromat business and also includes residential space for flexible living arrangements. The building contains a 1 bed, 1 bath unit, a 3 bed, 1 bath apartment, and a manager’s suite, offering a built-in mix of income-producing and on-site housing components.
The property sits on a 0.0571-acre lot and includes 3,150 square feet of space. Improvements include wood siding, tile flooring, and a rolled hot mop roof. There is no yard, and the home is served by public water and public sewer.
Convenient access to transit, local amenities, and community hubs is mentioned as part of the property’s day-to-day practicality, supporting use for investors or owner-users seeking long-term occupancy flexibility in a high-activity neighborhood.
The property sits on a 0.0571-acre lot and includes 3,150 square feet of space. Improvements include wood siding, tile flooring, and a rolled hot mop roof. There is no yard, and the home is served by public water and public sewer.
Convenient access to transit, local amenities, and community hubs is mentioned as part of the property’s day-to-day practicality, supporting use for investors or owner-users seeking long-term occupancy flexibility in a high-activity neighborhood.
Key Highlights
- Established laundromat business anchors the mixed‑use building
- Residential units include a 1 bed, 1 bath unit and a 3 bed, 1 bath apartment
- Also includes a manager’s suite
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
$111,950
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
8.05%
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%
$2,239,000
$2.2M
Cap Rate 7%
$1,599,286
$1.6M
Cap Rate 9%
$1,243,889
$1.2M
Market Conditions
NOI Build-Up for 3,150 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
$170.1K $54.00/SF
− Vacancy
−$10.2K −$3.23/SF
EGI
$159.9K $50.77/SF
− OpEx
−$48.0K −$15.23/SF
NOI
$111.9K $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%
$2,239,000
Cap Rate 7%
$1,599,286
Cap Rate 9%
$1,243,889
Alternative Uses
Best Use
Retail
$14.36M
$12.57M – $16.75M
NOI $1,005,248 @ 7.0% cap · market cap 72.32%
Second Best
Multifamily LT 5
$1.60M
$1.40M – $1.87M
NOI $111,950 @ 7.0% cap · market cap 8.05%
Theoretical Best
Specialty Retail
$15.39M
$13.46M – $17.95M
NOI $1,077,052 @ 7.0% cap · market cap 77.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 94124, CA
39,445
Population
11,780
Households
3.3
Avg Household Size
37
Median Age
27%
College-Educated
75%
High-School Grad
4.8 sq mi
ZIP Area
8,218
Density / Sq Mi
$82,928
Median Household Income
$42,683
Median Earnings
$1,368
Median Rent
$1,043,200
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?
Mixed-use property - Mixed-use building featuring a laundromat anchor plus a 1 bed, a 3 bed, and a manager suite.
Where is this mixed-use property located?
The property is located at 6246 3rd St San Francisco, CA.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Established laundromat business anchors the mixed‑use building; Residential units include a 1 bed, 1 bath unit and a 3 bed, 1 bath apartment; Also includes a manager’s suite
