5-Unit Mixed-Use
For Sale
Contact for pricing
674-678 Haight Street, San Francisco, CA 94117
Fully occupied 5-unit mixed-use building with ground-floor retail and a diverse residential unit mix.
Property Size5,950 SF
Lot Size0.06 Acres
Price / SF$503.87
Days on Market102
Property Features for 674-678 Haight Street
General Information
Standard status
Active
Size
5,950 SF
Class
B
Lot size
0.06 Acres
Property subtype
Mixed Use, Multifamily, Retail
Zoning
NC1
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$185,709
Additional Details
Cap Rate
6.19%
Multifamily Units
4
Building Details
Year Built
1890
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Palo Alto
Listed By:
Eymon Binesh · License #CA 02060059
(650) 391-1700
Source:
Crexi
Added: May 26
Changed: Aug 21
Last Checked: Sep 4 at 5:39AM
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 Marcus & Millichap - Palo Alto
Investment Insights
Based on property information with market context.
674-678 Haight Street is a fully occupied, 5-unit mixed-use asset built in 1890. The property totals approximately 5,950 gross square feet and sits on a 0.06-acre lot zoned NC1. The unit mix includes one ground-floor retail unit, two 2-bedroom/1-bath units with den, one additional 2-bedroom/1-bath unit, and one 1-bedroom/1-bath unit.
As currently operated, the building generates Net Operating Income (NOI) of $185,708.80, reflecting a 6.19% current cap rate and an 11.69 gross rent multiplier (GRM). The offering materials describe a rent-up and turnover-driven strategy to increase income, including bringing current leases to market upon tenant change.
Under that projection, NOI is estimated to reach $229,584.64, yielding a 7.66% pro forma cap rate and a 9.88 pro forma GRM.
As currently operated, the building generates Net Operating Income (NOI) of $185,708.80, reflecting a 6.19% current cap rate and an 11.69 gross rent multiplier (GRM). The offering materials describe a rent-up and turnover-driven strategy to increase income, including bringing current leases to market upon tenant change.
Under that projection, NOI is estimated to reach $229,584.64, yielding a 7.66% pro forma cap rate and a 9.88 pro forma GRM.
Key Highlights
- Fully occupied 5‑unit mixed‑use building at 674‑678 Haight St with 1 ground‑floor retail unit and 4 residential units
- Built in 1890; approximately 5,950 gross SF on a 0.06‑acre lot in San Francisco
- Unit mix includes two 2BD/1BA with den units, one 2BD/1BA unit, and one 1BD/1BA unit
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
$193,179
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
6.44%
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%
$3,863,580
$3.9M
Cap Rate 7%
$2,759,700
$2.8M
Cap Rate 9%
$2,146,433
$2.1M
Market Conditions
NOI Build-Up for 5,950 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
$374.9K $63.00/SF
− Vacancy
−$23.6K −$3.97/SF
EGI
$351.2K $59.03/SF
− OpEx
−$158.1K −$26.56/SF
NOI
$193.2K $32.47/SF
Area
San Francisco, CA
Vacancy
6.30%
Lease Rate
$63.00 /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%
$3,863,580
Cap Rate 7%
$2,759,700
Cap Rate 9%
$2,146,433
Alternative Uses
Best Use
Retail
$27.13M
$23.74M – $31.65M
NOI $1,898,803 @ 7.0% cap · market cap 63.34%
Second Best
Apartment 5plus
$2.76M
$2.41M – $3.22M
NOI $193,179 @ 7.0% cap · market cap 6.44%
Theoretical Best
Specialty Retail
$29.06M
$25.43M – $33.91M
NOI $2,034,431 @ 7.0% cap · market cap 67.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
5,005
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 5-unit mixed-use building with ground-floor retail and a diverse residential unit mix.
Where is this apartment building located?
The property is located at 674-678 Haight Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,998,000.
What are key features of this property?
This property features: Fully occupied 5‑unit mixed‑use building at 674‑678 Haight St with 1 ground‑floor retail unit and 4 residential units; Built in 1890; approximately 5,950 gross SF on a 0.06‑acre lot in San Francisco; Unit mix includes two 2BD/1BA with den units, one 2BD/1BA unit, and one 1BD/1BA unit
