Renovated Multifamily Building in
For Sale
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77-83 9th St, San Francisco, CA 94103
Well-maintained, fully occupied building with commercial storefronts in San Francisco.
Property Size22,670 SF
Price / SF$440.89
Days on Market195
Property Features for 77-83 9th St
General Information
Standard status
Active
Size
22,670 SF
Class
B
Property subtype
Multifamily
Occupancy
100%
Building Details
Year Built
1912
Year Renovated
2012
Buildings
1
Stories
6
Units
56
Listing Agency:
California and Oakland Affordable Housing Group, LLC
Listed By:
Frederick Lewis · License #CA
Source:
Crexi
Added: Feb 19
Changed: Aug 28
Last Checked: Aug 31 at 8:10AM
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 California and Oakland Affordable Housing Group, LLC
Investment Insights
Based on property information with market context.
Located in San Francisco's SoMa neighborhood, 77-83 9th Street is a well-maintained 6-story concrete and steel building constructed in 1912 and fully renovated in 2012 and 2024. The building features 44 studios, each with a private bathroom and full kitchen, and 10 one-bedroom apartments with full kitchens and bathrooms, totaling 22,670 square feet. The property also includes a shared laundry room and two fully leased commercial storefronts. A full basement offers potential for upgrading and leasing portions as storage units for additional income. Many units feature hardwood flooring, quartz countertops, and tile backsplashes, with abundant natural light. The exterior has been recently painted. The building is master metered for gas and electric, excluding the commercial spaces, and is monitored by a video surveillance system. Construction includes typical wood framing with concrete foundation walls, creating a partial basement on the southern portion and a slab on grade foundation on the northern portion. Exterior finishes consist of painted brick veneer and stucco siding, with a flat roof. Units are heated by electric wall heaters, and domestic hot water is provided by a central gas-fired boiler in the basement. Domestic water lines and electrical wiring are copper. The property is 100% occupied and located near transportation, Mid-Market tech firms, Union Square, and downtown. The location provides easy access to BART, Caltrain, and major freeways, situated in the central business district across from the old Twitter building. The two commercial units are occupied by a taco shop chain and a spiritual center.
Key Highlights
- Prime SoMa Location: Close to transportation, tech companies, Civic Center, and dining/nightlife.
- Fully Occupied & Turnkey: Generating immediate income with minimal management effort.
- Recent Renovations: Renovated in 2012 and 2024, blending character with modern functionality.
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
$736,028
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
7.36%
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%
$14,720,560
$14.7M
Cap Rate 7%
$10,514,686
$10.5M
Cap Rate 9%
$8,178,089
$8.2M
Market Conditions
NOI Build-Up for 22,670 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
$1.43M $63.00/SF
− Vacancy
−$90.0K −$3.97/SF
EGI
$1.34M $59.03/SF
− OpEx
−$602.2K −$26.56/SF
NOI
$736.0K $32.47/SF
Area
San Francisco, CA
Vacancy
6.30%
Lease Rate
$63.00 /SF/Yr
Expense Ratio
45.00%
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%
$14,720,560
Cap Rate 7%
$10,514,686
Cap Rate 9%
$8,178,089
Alternative Uses
Best Use
Apartment 5plus
$10.51M
$9.20M – $12.27M
NOI $736,028 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$110.73M
$96.89M – $129.19M
NOI $7,751,355 @ 7.0% cap · market cap 77.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13,410
Businesses Nearby
Explore this area
Business Placement
Demographics for 94103, CA
37,843
Population
20,920
Households
1.8
Avg Household Size
37
Median Age
56%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
27,031
Density / Sq Mi
$122,339
Median Household Income
$83,348
Median Earnings
$2,146
Median Rent
$1,057,600
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?
Apartment building - Well-maintained, fully occupied building with commercial storefronts in San Francisco.
Where is this apartment building located?
The property is located at 77-83 9th St San Francisco, CA.
What is the asking price?
The asking price for this property is $9,995,000.
What are key features of this property?
This property features: Prime SoMa Location: Close to transportation, tech companies, Civic Center, and dining/nightlife.; Fully Occupied & Turnkey: Generating immediate income with minimal management effort.; Recent Renovations: Renovated in 2012 and 2024, blending character with modern functionality.
