Vacant Two-Flat
For Sale
Contact for pricing
704-706 Arguello Boulevard, San Francisco, CA 94118
Two-bedroom flats offer fireplaces, period detailing, and washer-dryer hookups in a flexible vacant configuration.
Property Size2,650 SF
Price / SF$745.28
Days on Market133
Property Features for 704-706 Arguello Boulevard
General Information
Standard status
Active
Size
2,650 SF
Total Parking Spaces
2
Property subtype
Multifamily
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
washer/dryer hookups
backyard
fireplace
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Colliers - San Francisco, California
(415) 288-7847
Listed By:
Brad Lagomarsino · License #CA 01058500
Source:
Crexi
Added: Apr 20
Changed: Aug 29
Last Checked: Aug 29 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 Colliers - San Francisco, California
Investment Insights
Based on property information with market context.
This vacant duplex contains two 2-bedroom, 1-bathroom flats with separate living and dining areas, fireplaces, hardwood floors, crown molding, and large windows. Bedrooms are positioned toward the rear of each residence, while washer and dryer hookups support everyday functionality. The property was built in 1955 and includes a two-car garage, basement space, and an oversized landscaped backyard. Total property size is 2,650 square feet.
Located at 704-706 Arguello Boulevard in San Francisco’s Lone Mountain neighborhood, the duplex is near Golden Gate Park, USF, and retail and dining along Geary Boulevard, Clement Street, and Balboa Street. Public transportation provides access to downtown San Francisco and nearby neighborhoods.
Located at 704-706 Arguello Boulevard in San Francisco’s Lone Mountain neighborhood, the duplex is near Golden Gate Park, USF, and retail and dining along Geary Boulevard, Clement Street, and Balboa Street. Public transportation provides access to downtown San Francisco and nearby neighborhoods.
Key Highlights
- Two 2‑bedroom, 1‑bathroom flats
- 2,650 square feet total property size
- Two‑car garage delivered vacant
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
$94,180
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
4.77%
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%
$1,883,600
$1.9M
Cap Rate 7%
$1,345,429
$1.3M
Cap Rate 9%
$1,046,444
$1.0M
Market Conditions
NOI Build-Up for 2,650 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
$143.1K $54.00/SF
− Vacancy
−$8.6K −$3.23/SF
EGI
$134.5K $50.77/SF
− OpEx
−$40.4K −$15.23/SF
NOI
$94.2K $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 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%
$1,883,600
Cap Rate 7%
$1,345,429
Cap Rate 9%
$1,046,444
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.57M
NOI $94,180 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,038 @ 7.0% cap · market cap 4.36%
Theoretical Best
Specialty Retail
$12.94M
$11.33M – $15.10M
NOI $906,091 @ 7.0% cap · market cap 45.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,876
Businesses Nearby
Explore this area
Business Placement
Demographics for 94118, CA
42,356
Population
19,052
Households
2.2
Avg Household Size
37
Median Age
72%
College-Educated
94%
High-School Grad
2.0 sq mi
ZIP Area
21,178
Density / Sq Mi
$159,550
Median Household Income
$92,946
Median Earnings
$2,695
Median Rent
$1,817,200
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?
Duplex - Two-bedroom flats offer fireplaces, period detailing, and washer-dryer hookups in a flexible vacant configuration.
Where is this duplex located?
The property is located at 704-706 Arguello Boulevard San Francisco, CA.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom flats; 2,650 square feet total property size; Two‑car garage delivered vacant
