Two-Unit Duplex with Private
For Sale
Contact for pricing
Pending
901 Hanover St, Daly City, CA 94014
Duplex with two distinct levels, separate entrances, and individual utility meters, plus a spacious backyard.
Property Size2,524 SF
Days on Market267
Property Features for 901 Hanover St
General Information
Standard status
Pending
Size
2,524 SF
Property subtype
Multifamily
Zoning
R1
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Stories
2
Units
1
Listing Agency:
Kidder Matthews
Listed By:
Gabriel Sahagun · License #CA: 02168656
Source:
Crexi
Added: Dec 12, 2025
Changed: Aug 8
Last Checked: Jul 24 at 4:08PM
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 Kidder Matthews
Investment Insights
Based on property information with market context.
This duplex at 901 Hanover St in Daly City offers flexible two-level living with two distinct levels and two separate mailing addresses. The main living area is configured as a 3-bedroom, 2-bath layout, while the lower level includes an additional 2-bedroom, 1-bath unit with its own separate entrance. The property also has individual utility meters for each unit. A spacious backyard adds outdoor space for gardening or general use. The home is in fixer condition and is being sold AS-IS, allowing the right buyer to complete a tailored renovation.
Location-wise, the property is positioned for convenient access to parks, schools, markets, and restaurants within an easy walk. For commuters, it is minutes from the Daly City BART station and provides quick access to Hwys 101 & 280 for travel toward Downtown San Francisco and SFO.
Location-wise, the property is positioned for convenient access to parks, schools, markets, and restaurants within an easy walk. For commuters, it is minutes from the Daly City BART station and provides quick access to Hwys 101 & 280 for travel toward Downtown San Francisco and SFO.
Key Highlights
- 2,524 SF Daly City duplex with two distinct levels and separate entrances
- Main unit offers 3 bedrooms and 2 bathrooms
- Downstairs unit includes 2 bedrooms and 1 bathroom with its own separate entrance
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
$56,696
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
5.97%
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%
$1,133,920
$1.1M
Cap Rate 7%
$809,943
$809.9K
Cap Rate 9%
$629,956
$630.0K
Market Conditions
NOI Build-Up for 2,524 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
$86.3K $34.20/SF
− Vacancy
−$5.3K −$2.11/SF
EGI
$81.0K $32.09/SF
− OpEx
−$24.3K −$9.63/SF
NOI
$56.7K $22.46/SF
Area
Daly City, CA
Vacancy
6.17%
Lease Rate
$34.20 /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%
$1,133,920
Cap Rate 7%
$809,943
Cap Rate 9%
$629,956
Alternative Uses
Best Use
Multifamily LT 5
$809.9K
$708.7K – $944.9K
NOI $56,696 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$720.9K
$630.8K – $841.1K
NOI $50,465 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$1.11M
$972.4K – $1.30M
NOI $77,788 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,092
Businesses Nearby
Explore this area
Business Placement
Demographics for 94014, CA
48,677
Population
15,643
Households
3.1
Avg Household Size
39
Median Age
33%
College-Educated
84%
High-School Grad
6.4 sq mi
ZIP Area
7,606
Density / Sq Mi
$115,513
Median Household Income
$49,144
Median Earnings
$2,089
Median Rent
$979,500
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 - Duplex with two distinct levels, separate entrances, and individual utility meters, plus a spacious backyard.
Where is this duplex located?
The property is located at 901 Hanover St Daly City, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,524 SF Daly City duplex with two distinct levels and separate entrances; Main unit offers 3 bedrooms and 2 bathrooms; Downstairs unit includes 2 bedrooms and 1 bathroom with its own separate entrance
