Three-Unit Property with Shared
For Sale
$1,695,000
862-864 33Rd Ave, San Francisco, CA 94121
Three residences include two vacant units, separate laundry areas, and a one-car garage with storage.
Property Size3,714 SF
Lot Size0.07 Acres
Price / SF$456.38
Days on Market110
Property Features for 862-864 33Rd Ave
General Information
Standard status
Active
Size
3,714 SF
Total Parking Spaces
1
Lot size
0.07 Acres
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
shared backyard
separate laundry areas for each unit
Building Details
Year Built
1924
Listing Agency:
Vanguard Properties
(925) 639-1575
Listed By:
Julia Kazantsev · License #01441144
(925) 639-1575
Source:
Exitrealty
Added: May 13
Changed: Aug 29
Last Checked: Aug 29 at 10:35PM
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 Vanguard Properties
Investment Insights
Based on property information with market context.
Built in 1924, this triplex contains three residences totaling 3,714 sq. ft. The upper home offers approximately 1,429 sq. ft. with two bedrooms and 1.5 bathrooms. The middle residence measures approximately 1,359 sq. ft. and includes two bedrooms and 1.5 bathrooms; it is occupied by long-term tenants. The lower unit adds approximately 687 sq. ft., one bedroom, and one full bathroom, and is vacant. The property sits on a 2,996 sq. ft. lot and includes a shared backyard, separate laundry areas for each unit, and a one-car garage with additional storage.
The address is directly across from Golden Gate Park, with access to trails, museums, gardens, lakes, and outdoor recreation. Ocean Beach is minutes away, while the Balboa and Geary Street corridors provide restaurants, cafes, shops, and neighborhood services. Public transportation and major commuter routes are also nearby.
The address is directly across from Golden Gate Park, with access to trails, museums, gardens, lakes, and outdoor recreation. Ocean Beach is minutes away, while the Balboa and Geary Street corridors provide restaurants, cafes, shops, and neighborhood services. Public transportation and major commuter routes are also nearby.
Key Highlights
- Three units totaling 3,714 sq. ft. on a 2,996 sq. ft. lot
- Unit mix includes two 2‑bedroom residences and one 1‑bedroom unit
- Two vacant units plus one middle unit occupied by long‑term tenants
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
$131,994
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
7.79%
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%
$2,639,880
$2.6M
Cap Rate 7%
$1,885,629
$1.9M
Cap Rate 9%
$1,466,600
$1.5M
Market Conditions
NOI Build-Up for 3,714 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
$200.6K $54.00/SF
− Vacancy
−$12.0K −$3.23/SF
EGI
$188.6K $50.77/SF
− OpEx
−$56.6K −$15.23/SF
NOI
$132.0K $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%
$2,639,880
Cap Rate 7%
$1,885,629
Cap Rate 9%
$1,466,600
Alternative Uses
Best Use
Multifamily LT 5
$1.89M
$1.65M – $2.20M
NOI $131,994 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$1.72M
$1.51M – $2.01M
NOI $120,583 @ 7.0% cap · market cap 7.11%
Theoretical Best
Specialty Retail
$18.14M
$15.87M – $21.16M
NOI $1,269,896 @ 7.0% cap · market cap 74.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 94121, CA
43,115
Population
19,742
Households
2.2
Avg Household Size
42
Median Age
64%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
17,246
Density / Sq Mi
$138,353
Median Household Income
$74,646
Median Earnings
$2,327
Median Rent
$1,634,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residences include two vacant units, separate laundry areas, and a one-car garage with storage.
Where is this triplex located?
The property is located at 862-864 33Rd Ave San Francisco, CA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Three units totaling 3,714 sq. ft. on a 2,996 sq. ft. lot; Unit mix includes two 2‑bedroom residences and one 1‑bedroom unit; Two vacant units plus one middle unit occupied by long‑term tenants
