Triplex with On-Site
For Sale
$1,500,000
633 Central Avenue, San Francisco, CA 94117
Maintained multifamily property with varied apartment layouts, resident laundry, basement storage, and separately metered gas service.
Property Size2,800 SF
Price / SF$535.71
Days on Market46
Property Features for 633 Central Avenue
General Information
Standard status
Active
Size
2,800 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
on-site laundry
Building Details
Year Built
1904
Listing Agency:
Touchstone Commercial Partners Inc
(415) 275-0229
Listed By:
Readdress · License #01058500
(415) 275-0229
Source:
Readdress
Added: Jul 16
Changed: Aug 29
Last Checked: Aug 26 at 12:52PM
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 Touchstone Commercial Partners Inc
Investment Insights
Based on property information with market context.
The property at 633 Central Avenue is a triplex built in 1904, with two one-bedroom, one-bath apartments and one three-bedroom, two-bath apartment. The residences feature functional layouts, natural light, on-site laundry, and access to basement storage. Two on-site parking spaces and separately metered gas service add practical operating features for the building.
Located in San Francisco’s North Panhandle neighborhood, the property is near the Panhandle, Golden Gate Park, and the Divisadero corridor. Restaurants, cafés, neighborhood markets, retail destinations, public transportation, and major commuter routes are all identified in the surrounding area. The location provides access to Downtown San Francisco, UCSF, and the greater Bay Area.
Located in San Francisco’s North Panhandle neighborhood, the property is near the Panhandle, Golden Gate Park, and the Divisadero corridor. Restaurants, cafés, neighborhood markets, retail destinations, public transportation, and major commuter routes are all identified in the surrounding area. The location provides access to Downtown San Francisco, UCSF, and the greater Bay Area.
Key Highlights
- Three (3) unit apartment building constructed in 1904
- Unit mix includes two (2) one‑bedroom, one‑bath apartments and one (1) three‑bedroom, two‑bath apartment
- Two (2) on‑site parking spaces
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
$99,511
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
6.63%
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%
$1,990,220
$2.0M
Cap Rate 7%
$1,421,586
$1.4M
Cap Rate 9%
$1,105,678
$1.1M
Market Conditions
NOI Build-Up for 2,800 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
$151.2K $54.00/SF
− Vacancy
−$9.0K −$3.23/SF
EGI
$142.2K $50.77/SF
− OpEx
−$42.6K −$15.23/SF
NOI
$99.5K $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%
$1,990,220
Cap Rate 7%
$1,421,586
Cap Rate 9%
$1,105,678
Alternative Uses
Best Use
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,511 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $90,908 @ 7.0% cap · market cap 6.06%
Theoretical Best
Specialty Retail
$13.68M
$11.97M – $15.96M
NOI $957,379 @ 7.0% cap · market cap 63.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,443
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Maintained multifamily property with varied apartment layouts, resident laundry, basement storage, and separately metered gas service.
Where is this triplex located?
The property is located at 633 Central Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three (3) unit apartment building constructed in 1904; Unit mix includes two (2) one‑bedroom, one‑bath apartments and one (1) three‑bedroom, two‑bath apartment; Two (2) on‑site parking spaces
