Three-Level Duplex Requiring
For Sale
$1,495,000
922 Vallejo ST, San Francisco, CA 94133
Vacant two-unit building offering a substantial renovation project in a San Francisco location spanning Russian Hill and North Beach.
Property Size3,660 SF
Lot Size0.06 Acres
Price / SF$408.47
Days on Market14
Property Features for 922 Vallejo ST
General Information
Standard status
Active
Size
3,660 SF
Lot size
0.06 Acres
Property subtype
Duplex
Property Condition
Severity
Major Repairs Needed
Evidence
requires significant rehabilitation
Additional Details
Multifamily Units
2
Building Details
Building Size
3,660 SF
Year Built
1906
Buildings
1
Stories
3
Listing Agency:
QPW Management Corp.
(415) 845-6805
Listed By:
Edward Tung · License #01779750
(415) 845-6805
Source:
Mpireluxe
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 28 at 6:05PM
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 QPW Management Corp.
Investment Insights
Based on property information with market context.
Constructed in 1906, this duplex contains approximately 3,660 square feet across three levels on a 2,687-square-foot lot. The two residences are currently vacant, and the building requires significant rehabilitation, allowing a future owner to undertake a comprehensive redesign or restoration.
The property is situated on Vallejo Street in the area where Russian Hill meets North Beach, along a tree-lined block. The sale includes a two-unit configuration with no evictions or Ellis Act history stated, providing a clear starting point for an owner, contractor, or development team planning substantial improvements.
The property is situated on Vallejo Street in the area where Russian Hill meets North Beach, along a tree-lined block. The sale includes a two-unit configuration with no evictions or Ellis Act history stated, providing a clear starting point for an owner, contractor, or development team planning substantial improvements.
Key Highlights
- Approximately 3,660 SF across three levels
- Two‑unit duplex built in 1906
- Situated on a 2,687 sq. ft. lot
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
$130,075
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
8.70%
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%
$2,601,500
$2.6M
Cap Rate 7%
$1,858,214
$1.9M
Cap Rate 9%
$1,445,278
$1.4M
Market Conditions
NOI Build-Up for 3,660 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
$197.6K $54.00/SF
− Vacancy
−$11.8K −$3.23/SF
EGI
$185.8K $50.77/SF
− OpEx
−$55.7K −$15.23/SF
NOI
$130.1K $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%
$2,601,500
Cap Rate 7%
$1,858,214
Cap Rate 9%
$1,445,278
Alternative Uses
Best Use
Multifamily LT 5
$1.86M
$1.63M – $2.17M
NOI $130,075 @ 7.0% cap · market cap 8.70%
Second Best
Apartment 5plus
$1.70M
$1.49M – $1.98M
NOI $118,829 @ 7.0% cap · market cap 7.95%
Theoretical Best
Specialty Retail
$17.88M
$15.64M – $20.86M
NOI $1,251,432 @ 7.0% cap · market cap 83.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
17,261
Businesses Nearby
Explore this area
Business Placement
Demographics for 94133, CA
26,751
Population
15,733
Households
1.7
Avg Household Size
41
Median Age
55%
College-Educated
80%
High-School Grad
0.7 sq mi
ZIP Area
38,216
Density / Sq Mi
$83,025
Median Household Income
$78,478
Median Earnings
$1,985
Median Rent
$1,519,100
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 - Vacant two-unit building offering a substantial renovation project in a San Francisco location spanning Russian Hill and North Beach.
Where is this duplex located?
The property is located at 922 Vallejo ST San Francisco, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Approximately 3,660 SF across three levels; Two‑unit duplex built in 1906; Situated on a 2,687 sq. ft. lot
