Four-Unit Apartment
For Sale
$1,998,000
724 8th Avenue, San Francisco, CA 94118
Classic San Francisco multifamily property with one-bedroom residences, hardwood floors, high ceilings, and updated electrical panels.
Property Size3,600 SF
Days on Market73
Property Features for 724 8th Avenue
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
3
Property subtype
Quadruplex
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Building Details
Building Size
3,600 SF
Year Built
1924
Buildings
1
Listing Agency:
Compass Commercial
(415) 516-9843
Listed By:
Adam D Filly · License #01354775
Source:
Elevationrealestate
Added: Jun 19
Changed: Aug 29
Last Checked: Aug 29 at 3:52PM
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 four-unit apartment property contains four one-bedroom residences with consistent layouts. Each apartment includes a generously sized living room, a separate alcove, hardwood flooring, high ceilings, and French doors connecting the bedroom to the living area. The alcoves provide flexible additional space, while the units receive strong natural light and incorporate tasteful updates.
A garage provides independent parking for 3 cars. The main electrical panels have been updated and indicate 400 amps of service. Gas and electricity are separately metered for each unit. The property is professionally managed and has remained under the same family’s ownership for almost 50 years.
Located at 724 8th Avenue in San Francisco’s Inner Richmond, the property is near Fulton Street, Golden Gate Park, and the shops, restaurants, and nightlife of the Richmond district.
A garage provides independent parking for 3 cars. The main electrical panels have been updated and indicate 400 amps of service. Gas and electricity are separately metered for each unit. The property is professionally managed and has remained under the same family’s ownership for almost 50 years.
Located at 724 8th Avenue in San Francisco’s Inner Richmond, the property is near Fulton Street, Golden Gate Park, and the shops, restaurants, and nightlife of the Richmond district.
Key Highlights
- Four one‑bedroom apartments with nearly identical floor plans
- Garage parking accommodates 3 cars independently
- Updated main electrical panels indicate 400 amps of service
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
$127,942
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
6.40%
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%
$2,558,840
$2.6M
Cap Rate 7%
$1,827,743
$1.8M
Cap Rate 9%
$1,421,578
$1.4M
Market Conditions
NOI Build-Up for 3,600 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
$194.4K $54.00/SF
− Vacancy
−$11.6K −$3.23/SF
EGI
$182.8K $50.77/SF
− OpEx
−$54.8K −$15.23/SF
NOI
$127.9K $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%
$2,558,840
Cap Rate 7%
$1,827,743
Cap Rate 9%
$1,421,578
Alternative Uses
Best Use
Multifamily LT 5
$1.83M
$1.60M – $2.13M
NOI $127,942 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $116,881 @ 7.0% cap · market cap 5.85%
Theoretical Best
Specialty Retail
$17.58M
$15.39M – $20.52M
NOI $1,230,917 @ 7.0% cap · market cap 61.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,226
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?
Quadplex - Classic San Francisco multifamily property with one-bedroom residences, hardwood floors, high ceilings, and updated electrical panels.
Where is this quadplex located?
The property is located at 724 8th Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $1,998,000.
What are key features of this property?
This property features: Four one‑bedroom apartments with nearly identical floor plans; Garage parking accommodates 3 cars independently; Updated main electrical panels indicate 400 amps of service
