Turnkey 14-Unit Apartment
For Sale
$2,475,000
677 Ellis St, San Francisco, CA 94109
Fully renovated 14-unit building with studio residences and updated electrical system throughout.
Property Size6,486 SF
Days on Market122
Property Features for 677 Ellis St
General Information
Standard status
Active
Size
6,486 SF
Property subtype
Multifamily
Occupancy
93%
Amenities
14-unit studio property located in a dense, transit-oriented San Francisco neighborhood with long-term rental demand.
Offered at ~$177K per unit with a 6.82% current cap rate and a projected 10.14% pro forma cap.
In-place rents average ~26% below market, creating a clear path to increased income through lease-up and rent repositioning.
Building Details
Building Size
6,486 SF
Units
14
Listing Agency:
San Francisco Office
(415) 963-3000
Listed By:
Eymon Binesh · License #CA: 02060059
(415) 625-2161
Source:
Marcusmillichap
Added: Jun 23
Changed: Oct 21
Last Checked: Oct 20 at 5:12PM
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 San Francisco Office
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Investment Insights
Based on property information with market context.
677 Ellis Street is a fully renovated, turnkey 14-unit apartment building, composed entirely of studio residences. The property has undergone recent capital improvements including brand-new electrical throughout the building. Each unit has been extensively renovated with designer finishes, creating a refreshed interior package.
The asset is offered for sale and is located at 677 Ellis Street in San Francisco, CA 94109.
With fourteen studio residences and completed building-wide electrical upgrades, this property presents as a low-maintenance multifamily option for an investor seeking in-place income.
The asset is offered for sale and is located at 677 Ellis Street in San Francisco, CA 94109.
With fourteen studio residences and completed building-wide electrical upgrades, this property presents as a low-maintenance multifamily option for an investor seeking in-place income.
Key Highlights
- Fully renovated 14‑unit apartment building with 14 studio residences
- Year built: 1908
- Recent capital improvement: brand‑new electrical throughout the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$193,735
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,874,700
$3.9M
Cap Rate 7%
$2,767,643
$2.8M
Cap Rate 9%
$2,152,611
$2.2M
Market Conditions
NOI Build-Up for 6,486 SF
Gross rent
$375.9K $57.96/SF
− Vacancy
−$23.7K −$3.65/SF
EGI
$352.2K $54.31/SF
− OpEx
−$158.5K −$24.44/SF
NOI
$193.7K $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 Rate 5%
$3,874,700
Cap Rate 7%
$2,767,643
Cap Rate 9%
$2,152,611
Alternative Uses
Best Use
Apartment 5plus
$2.77M
$2.42M – $3.23M
NOI $193,735 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$29.57M
$25.87M – $34.50M
NOI $2,069,854 @ 7.0% cap · market cap 83.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated 14-unit building with studio residences and updated electrical system throughout.
Where is this apartment building located?
The property is located at 677 Ellis St San Francisco, CA.
What is the asking price?
The asking price for this property is $2,475,000.
What are key features of this property?
This property features: Fully renovated 14‑unit apartment building with 14 studio residences; Year built: 1908; Recent capital improvement: brand‑new electrical throughout the building
