Period-Era Multifamily
For Sale
Contact for pricing
655 Hyde Street, San Francisco, CA 94109
Well-maintained 14-unit building with period details, RUBS, and in-building laundry near major neighborhood retail.
Property Size7,932 SF
Price / SF$422.34
Days on Market55
Property Features for 655 Hyde Street
General Information
Standard status
Active
Size
7,932 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Cap Rate
5.1%
Multifamily Units
14
Building Details
Year Built
1913
Tenancy
Multi
Listing Agency:
Urban Capital of San Francisco
Listed By:
Cris Lamas · License #02034056
Source:
Crexi
Added: Jun 13
Changed: Jul 10
Last Checked: Aug 5 at 3:02PM
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 Urban Capital of San Francisco
Investment Insights
Based on property information with market context.
655 Hyde Street is a 14-unit multifamily property presented in well-maintained condition. The building features an elegant arched entry, ornate cornice work, and other period detailing. The current mix is efficiently configured with all-studio and one-bedroom apartments, and the property has rent paid through RUBS (resident utility billing system) in place. On-site laundry is also provided for residents.
Located in Nob Hill, the building benefits from a reported 98 Walk Score, placing residents near Whole Foods, Trader Joe’s, and a range of neighborhood dining and retail. The asset is currently 100% occupied.
For buyers seeking an income-oriented residential asset, 655 Hyde offers in-place performance on the current rent roll, with underwriting referenced at a 5.1% cap rate and a 10.69 GRM on in-place income. Additional details provided include a 35%+ rent roll upside figure tied to turnover-driven improvements, along with noted low repositioning risk. This combination of occupancy, unit mix, and operational setup—including RUBS and on-site laundry—supports a practical, hands-on approach to managing a small multifamily building in San Francisco.
Located in Nob Hill, the building benefits from a reported 98 Walk Score, placing residents near Whole Foods, Trader Joe’s, and a range of neighborhood dining and retail. The asset is currently 100% occupied.
For buyers seeking an income-oriented residential asset, 655 Hyde offers in-place performance on the current rent roll, with underwriting referenced at a 5.1% cap rate and a 10.69 GRM on in-place income. Additional details provided include a 35%+ rent roll upside figure tied to turnover-driven improvements, along with noted low repositioning risk. This combination of occupancy, unit mix, and operational setup—including RUBS and on-site laundry—supports a practical, hands-on approach to managing a small multifamily building in San Francisco.
Key Highlights
- 14‑unit multifamily building built in 1913 in Nob Hill
- 100% occupied with in‑place performance of 5.1% cap rate and 10.69 GRM on in‑place income
- Efficient all‑studio and one‑bedroom unit mix
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
$236,926
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
7.07%
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%
$4,738,520
$4.7M
Cap Rate 7%
$3,384,657
$3.4M
Cap Rate 9%
$2,632,511
$2.6M
Market Conditions
NOI Build-Up for 7,932 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
$459.7K $57.96/SF
− Vacancy
−$29.0K −$3.65/SF
EGI
$430.8K $54.31/SF
− OpEx
−$193.8K −$24.44/SF
NOI
$236.9K $29.87/SF
Area
ZIP 94109
Vacancy
6.30%
Lease Rate
$57.96 /SF/Yr
Expense Ratio
45.00%
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%
$4,738,520
Cap Rate 7%
$3,384,657
Cap Rate 9%
$2,632,511
Alternative Uses
Best Use
Apartment 5plus
$3.38M
$2.96M – $3.95M
NOI $236,926 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$36.16M
$31.64M – $42.19M
NOI $2,531,311 @ 7.0% cap · market cap 75.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
14,443
Businesses Nearby
Explore this area
Business Placement
Demographics for 94109, CA
58,501
Population
39,043
Households
1.5
Avg Household Size
38
Median Age
65%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
53,183
Density / Sq Mi
$112,201
Median Household Income
$89,841
Median Earnings
$2,172
Median Rent
$1,390,000
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?
Apartment building - Well-maintained 14-unit building with period details, RUBS, and in-building laundry near major neighborhood retail.
Where is this apartment building located?
The property is located at 655 Hyde Street San Francisco, CA.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 14‑unit multifamily building built in 1913 in Nob Hill; 100% occupied with in‑place performance of 5.1% cap rate and 10.69 GRM on in‑place income; Efficient all‑studio and one‑bedroom unit mix
