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    Property profile & analytics

    405 21st Ave San Francisco, CA 94121-3062

    • Apartment buildings
    • 6,593 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Jul 26, 2024
    Value Estimations
    $1,710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6163521
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 405 21st Ave

    Year built
    1919
    Construction
    STEEL FRAME
    Lot size
    0.06 lot acres
    Property size
    6,593 SF
    Zone code
    NC3
    Property type
    Apartment buildings
    APN
    1523 -001
    APU
    1523001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,345,000
      Current use
      COMMERCIAL (GENERAL)
      $2,290,000
      Change: -2% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $2,040,000
      Change: -13% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Francisco
    County
    San Francisco
    State
    California
    Longitude
    -122.481
    Latitude
    37.78
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $23,574
    $889,708
    $1,007,812
    $1,897,520
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,480,000
      10,410 SF

      7001 California St

      APARTMENT HOUSE (5+ UNITS) • 10,410 SF
      7001 California St, San Francisco, CA 94121-1757
      View Details
    • Value Estimation
      $2,130,000
      7,175 SF

      2201 Clement St

      APARTMENT HOUSE (5+ UNITS) • 7,175 SF
      2201 Clement St, San Francisco, CA 94121-2018
      View Details
    • Value Estimation
      $1,510,000
      5,250 SF

      1828 Clement St, Unit 1830

      APARTMENT HOUSE (5+ UNITS) • 5,250 SF
      1828 Clement St, San Francisco, CA 94121-2207
      View Details
    • Value Estimation
      $1,925,000
      6,450 SF

      2207 Cabrillo St

      APARTMENT HOUSE (5+ UNITS) • 6,450 SF
      2207 Cabrillo St, San Francisco, CA 94121-3723
      View Details
    • Value Estimation
      $1,345,000
      4,398 SF

      266 19th Ave

      APARTMENT HOUSE (5+ UNITS) • 4,398 SF
      266 19th Ave, San Francisco, CA 94121-2346
      View Details
    • Value Estimation
      $1,190,000
      4,230 SF

      239 25th Ave

      APARTMENT HOUSE (5+ UNITS) • 4,230 SF
      239 25th Ave, San Francisco, CA 94121-1237
      View Details

    Similar Nearby for Sale

    • $2,500,000
      Pending

      Ocean View Multifamily Property

      Four units with ocean views near Golden Gate Park.
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    • $2,500,000
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      Ocean View Multifamily Property

      Multifamily property with ocean views near Golden Gate Park.
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      3,010 SF

      Richmond District Multifamily Investment Opportunity

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      2,700 SF

      Mixed-Use Asset in Outer Richmond

      Three-unit mixed-use property in San Francisco's Outer Richmond.
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    • $1,150,000
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      Retail Space on Balboa Street

      900 SF retail space with excellent visibility and signage.
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    • $799,500
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      Two-story commercial building in the heart of the Richmond District.
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    Similar Nearby for Lease

    • $3,995 /Mo

      2609 Lake St, Unit 2

      Multifamily properties
      2609 Lake St, San Francisco, CA 94121
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      4,890 SF

      Retail Space in San Francisco

      Retail space available for lease in San Francisco.
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      500 SF

      Retail Space on Geary Boulevard

      Retail space available for rent in San Francisco, CA.
      5845 Geary Blvd, San Francisco, CA 94121
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    • Contact for pricing
      1,360 SF

      Retail Space with High Ceilings

      Flexible retail space with high ceilings and abundant natural light.
      710-758 La Playa St, San Francisco, CA 94121
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    • Contact for pricing
      645 SF

      Retail Space in High-Traffic Area

      Retail space in San Francisco's sought-after neighborhood with high visibility.
      6001 California St, San Francisco, CA 94121
      View Details
    • Contact for pricing
      550 SF

      Retail Space on Geary Boulevard

      Move-in ready retail space with high visibility and storage.
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      View Details
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    405 21st Ave
    San Francisco, CA 94121-3062
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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