2-Unit Duplex with
646-648 23rd Avenue, San Francisco, CA 94121
For Sale
New
$2,190,000
Delivered vacant, the two residences provide flexibility for separate household use or occupancy by one owner.
Property Size3,150 SF
Price / SF$695.24
Days on Market2
Property Features for 646-648 23rd Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Road Access
Units
Unit Mix
Multifamily Units
Amenities
on-site laundry
garden
Building Details
Year Built
Buildings
Listing Agency:
Compass Commercial
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Nov 8
Last Checked: Nov 8 at 2:51PM
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 Compass Commercial
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1924, this 3,150-square-foot duplex contains two full-floor residences, each with two bedrooms, a sunroom, and a split bathroom. The interiors also include formal dining rooms and hardwood flooring, while kitchens and baths have been updated. A garden, two-car parking, and on-site laundry add to the property’s existing features. Both units are vacant at delivery.
The building at 646-648 23rd Avenue sits one block from Golden Gate Park on a tree-lined Slow Street in San Francisco’s Richmond District. Restaurants, cafes, shops, and everyday services are described as nearby, with the park providing open space, trails, and recreation close to the property.
The building at 646-648 23rd Avenue sits one block from Golden Gate Park on a tree-lined Slow Street in San Francisco’s Richmond District. Restaurants, cafes, shops, and everyday services are described as nearby, with the park providing open space, trails, and recreation close to the property.
Key Highlights
- Two full‑floor residences, each with two bedrooms, a sunroom, and a split bathroom
- 3,150 square feet; built in 1924
- Both residences delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,950
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
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
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 Rate 5%
$2,239,000
Cap Rate 7%
$1,599,286
Cap Rate 9%
$1,243,889
Alternative Uses
Best Use
Multifamily LT 5
$1.60M
$1.40M – $1.87M
NOI $111,950 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,271 @ 7.0% cap · market cap 4.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,614
Businesses Nearby
Explore this area
Business Placement
Demographics for 94121, CA
43,115
Population
19,742
Households
2.2
Avg Household Size
42
Median Age
64%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
17,246
Density / Sq Mi
$138,353
Median Household Income
$74,646
Median Earnings
$2,327
Median Rent
$1,634,600
Median Home Value
Market
Average Price Trend$/SF for Duplexes in San Francisco, CA
Properties on Market for Duplexes in San Francisco
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Delivered vacant, the two residences provide flexibility for separate household use or occupancy by one owner.
Where is this duplex located?
The property is located at 646-648 23rd Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $2,190,000.
What are key features of this property?
This property features: Two full‑floor residences, each with two bedrooms, a sunroom, and a split bathroom; 3,150 square feet; built in 1924; Both residences delivered vacant
