33-Unit Elevator Apartment
For Sale
$7,295,000
765 Ofarrell Street, San Francisco, CA 94109
The four-story property combines renovated residences with a courtyard, laundry facilities, storage, and a double garage.
Property Size16,768 SF
Lot Size0.15 Acres
Price / SF$435.05
Days on Market9
Property Features for 765 Ofarrell Street
General Information
Standard status
Active
Size
16,768 SF
Total Parking Spaces
2
Elevators
Yes
Lot size
0.15 Acres
Property subtype
Residential Income
Zoning
RC4
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
24 x junior one-bedroom, 7 x studio, 2 x two-bedroom
Multifamily Units
33
Additional Details
Cap Rate
6.62%
Taxes and HOA fees
Annual Taxes
$70,883
Amenities
hardwood floors
tiled kitchens and baths
walk-in closets
bay windows
lobby with stone floors
courtyard
laundry room
storage
Other
Building Details
Building Size
16,768 SF
Year Built
1924
Buildings
1
Stories
4
Listing Agency:
KW Advisors
Listed By:
Alina Siert · License #01893238
(408) 712-7692
Source:
Evrealestate
Added: Oct 6
Changed: Oct 13
Last Checked: Oct 12 at 7:11PM
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 33-unit apartment building dates to 1924 and rises four stories with elevator service. Its mix comprises 24 junior one-bedroom apartments, seven studios, and two two-bedroom units. Approximately 80% of the residences have been renovated; unit features include hardwood flooring, tiled kitchens and bathrooms, walk-in closets, and bay windows in most apartments. Building amenities include a stone-floored lobby, courtyard, laundry room, storage, and a double garage. The building also has a new concrete perimeter foundation, while gas and electricity are separately metered.
In San Francisco’s Tenderloin, the property is within walking distance of Union Square, Civic Center, Van Ness, and Mid-Market employers. Muni and BART service are nearby. The building is fully occupied according to the rent roll, and stated market rents are approximately 33% above in-place rents. The current cap rate is 6.62%, with a 9.04% pro forma cap rate at market rents.
In San Francisco’s Tenderloin, the property is within walking distance of Union Square, Civic Center, Van Ness, and Mid-Market employers. Muni and BART service are nearby. The building is fully occupied according to the rent roll, and stated market rents are approximately 33% above in-place rents. The current cap rate is 6.62%, with a 9.04% pro forma cap rate at market rents.
Key Highlights
- 33 apartments in a four‑story elevator building, built in 1924
- Unit mix: 24 junior one‑bedrooms, 7 studios, and 2 two‑bedrooms
- About 16,768 SF of building area on a 6,614 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$500,855
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,017,100
$10.0M
Cap Rate 7%
$7,155,071
$7.2M
Cap Rate 9%
$5,565,056
$5.6M
Market Conditions
NOI Build-Up for 16,768 SF
Gross rent
$971.9K $57.96/SF
− Vacancy
−$61.2K −$3.65/SF
EGI
$910.6K $54.31/SF
− OpEx
−$409.8K −$24.44/SF
NOI
$500.9K $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%
$10,017,100
Cap Rate 7%
$7,155,071
Cap Rate 9%
$5,565,056
Alternative Uses
Best Use
Apartment 5plus
$7.16M
$6.26M – $8.35M
NOI $500,855 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$76.44M
$66.89M – $89.19M
NOI $5,351,113 @ 7.0% cap · market cap 73.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
33
Residential units
100%
Occupancy
Yes
Utilities to site
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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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - The four-story property combines renovated residences with a courtyard, laundry facilities, storage, and a double garage.
Where is this apartment building located?
The property is located at 765 Ofarrell Street San Francisco, CA.
What is the asking price?
The asking price for this property is $7,295,000.
What are key features of this property?
This property features: 33 apartments in a four‑story elevator building, built in 1924; Unit mix: 24 junior one‑bedrooms, 7 studios, and 2 two‑bedrooms; About 16,768 SF of building area on a 6,614 SF lot
