Renovated Two-Unit
For Sale
$1,150,000
73 Leese Street San, San Francisco, CA 94110
Updated duplex with in-unit laundry, gas cooking, natural light, and private yard access for one residence.
Property Size1,066 SF
Days on Market79
Property Features for 73 Leese Street San
General Information
Standard status
Active
Size
1,066 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2BR/1BA, 1BR/1BA
Multifamily Units
2
Amenities
granite countertops
gas stoves
laundry in units
skylights
yard access
bonus office/storage
Central Forced Air - Gas
Central Forced Air
Cooktop - Gas
Washer/Dryer
Individual Electric Meters, Individual Gas Meters, Flat, Shingle
Building Details
Building Size
1,066 SF
Year Built
1907
Buildings
1
Listing Agency:
KW ADVISORS
(650) 436-9316
Listed By:
Regan Cherrington · License #DRE
(650) 436-9316
Source:
Kw
Added: Jun 13
Changed: Aug 30
Last Checked: Aug 30 at 10:50AM
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 KW ADVISORS
Investment Insights
Based on property information with market context.
This two-unit duplex offers a renovated residential income property with distinct layouts. Unit 1 is a 2BR/1BA residence, while Unit 2 is configured as a 1BR/1BA and includes exclusive yard access plus approximately 120sf of additional office/storage space. Both units have granite countertops, gas stoves, in-unit laundry, skylights, and central forced-air systems. Individual electric and gas meters serve the residences. Originally built in 1907, the property was completely renovated a few years ago.
The property is near Holly Park, Saint Marys Rec Center, schools, shops, restaurants, and public transit. Access to Muni, BART, Hwy 101, and 280 adds transportation connectivity within San Francisco.
The property is near Holly Park, Saint Marys Rec Center, schools, shops, restaurants, and public transit. Access to Muni, BART, Hwy 101, and 280 adds transportation connectivity within San Francisco.
Key Highlights
- Two‑unit duplex with 2BR/1BA and 1BR/1BA layouts
- Unit 2 includes exclusive yard access and approximately 120sf of office/storage space
- Both units feature granite countertops, gas stoves, skylights, and in‑unit laundry
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
$35,780
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
3.11%
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%
$715,600
$715.6K
Cap Rate 7%
$511,143
$511.1K
Cap Rate 9%
$397,556
$397.6K
Market Conditions
NOI Build-Up for 1,066 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
$54.4K $51.00/SF
− Vacancy
−$3.3K −$3.05/SF
EGI
$51.1K $47.95/SF
− OpEx
−$15.3K −$14.39/SF
NOI
$35.8K $33.57/SF
Area
ZIP 94110
Vacancy
5.98%
Lease Rate
$51.00 /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%
$715,600
Cap Rate 7%
$511,143
Cap Rate 9%
$397,556
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.3K – $596.3K
NOI $35,780 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$470.9K
$412.0K – $549.4K
NOI $32,962 @ 7.0% cap · market cap 2.87%
Theoretical Best
Specialty Retail
$5.21M
$4.56M – $6.07M
NOI $364,488 @ 7.0% cap · market cap 31.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,906
Businesses Nearby
Explore this area
Business Placement
Demographics for 94110, CA
68,336
Population
30,685
Households
2.2
Avg Household Size
38
Median Age
61%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
28,473
Density / Sq Mi
$152,403
Median Household Income
$80,431
Median Earnings
$2,404
Median Rent
$1,500,200
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 - Updated duplex with in-unit laundry, gas cooking, natural light, and private yard access for one residence.
Where is this duplex located?
The property is located at 73 Leese Street San San Francisco, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two‑unit duplex with 2BR/1BA and 1BR/1BA layouts; Unit 2 includes exclusive yard access and approximately 120sf of office/storage space; Both units feature granite countertops, gas stoves, skylights, and in‑unit laundry
