48-Unit Apartment
For Sale
$7,250,000
665 Eddy Street, San Francisco, CA 94109
Multifamily asset with varied apartment layouts, a commercial component, elevator access, and garage parking.
Property Size28,200 SF
Days on Market64
Property Features for 665 Eddy Street
General Information
Standard status
Active
Size
28,200 SF
Total Parking Spaces
5
Elevators
Yes
Property subtype
Mixed Use
Units
Unit Mix
21 x 1BR/1BA, 24 x Studio, 2 x 2BR/1BA
Multifamily Units
48
Additional Details
Cap Rate
8.2%
Public Transit
Yes
Building Details
Building Size
28,200 SF
Year Built
1924
Buildings
1
Listing Agency:
Compass Commercial
(415) 516-9843
Listed By:
Adam D Filly · License #01354775
Source:
Vanguardproperties
Added: Jun 29
Changed: Aug 30
Last Checked: Aug 30 at 10:06PM
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
Investment Insights
Based on property information with market context.
Built in 1924, this 28,200-square-foot apartment property contains 48 units alongside a commercial space. Interior details include hardwood flooring, high ceilings, and substantial natural light, with city outlooks from upper levels. Most apartments received updates within the past 8 years. An elevator serves the building, while two garages provide parking for five cars. Gas and electric service are separately metered by unit, and individual wall heaters serve as the heating system. The main electrical panel records 600-amp service.
The property is at 665 Eddy Street in San Francisco’s Tenderloin district, a few blocks from Civic Center. Public transportation, restaurants, and nightlife are within walking distance.
The property is at 665 Eddy Street in San Francisco’s Tenderloin district, a few blocks from Civic Center. Public transportation, restaurants, and nightlife are within walking distance.
Key Highlights
- 48‑unit apartment building with an additional commercial space
- 28,200 square feet; built in 1924
- Most apartments updated within the past 8 years
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
$539,325
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
7.44%
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%
$10,786,500
$10.8M
Cap Rate 7%
$7,704,643
$7.7M
Cap Rate 9%
$5,992,500
$6.0M
Market Conditions
NOI Build-Up for 28,200 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
$1.02M $36.00/SF
− Vacancy
−$152.3K −$5.40/SF
EGI
$862.9K $30.60/SF
− OpEx
−$323.6K −$11.48/SF
NOI
$539.3K $19.13/SF
Area
ZIP 94109
Vacancy
15.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$10,786,500
Cap Rate 7%
$7,704,643
Cap Rate 9%
$5,992,500
Alternative Uses
Best Use
Apartment 5plus
$12.03M
$10.53M – $14.04M
NOI $842,325 @ 7.0% cap · market cap 11.62%
Second Best
Mixed Use
$7.70M
$6.74M – $8.99M
NOI $539,325 @ 7.0% cap · market cap 7.44%
Theoretical Best
Retail
$128.56M
$112.49M – $149.99M
NOI $8,999,367 @ 7.0% cap · market cap 124.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
48
Residential units
Location Intelligence
Trade Area within ½ mile
16,130
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily asset with varied apartment layouts, a commercial component, elevator access, and garage parking.
Where is this apartment building located?
The property is located at 665 Eddy Street San Francisco, CA.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: 48‑unit apartment building with an additional commercial space; 28,200 square feet; built in 1924; Most apartments updated within the past 8 years
