1684 Hayes St 10 Unit Apartment Building $6,500,000 ($650,000/Unit) 6% Cap Rate San Francisco, CA 94117

1686 Hayes Street is a well-maintained corner mixed-use apartment building in the heart of San Francisco's coveted North-of-Panhandle (NoPa) and Alamo Square district. This income-diversified asset pairs nine residential apartments — including a junior accessory dwelling unit (JADU) — with two established ground-floor commercial tenants and three private garages, totaling approximately 10,050 square feet on two parcels (APN 1198-021 and 1198-020).
Positioned on the vibrant Hayes Street corridor, the property enjoys the walkability, transit access, and durable tenant demand that define one of the city's most desirable rental submarkets. Its ground floor is activated by a neighborhood bakery and the Scarlet Fox wine bar — both on long-term leases — while spacious one- and two-bedroom residences above open to a landscaped interior courtyard. The building presents in excellent condition throughout.
Beyond stable in-place income of $402,168, the property offers a clear path to a $439,368 stabilized figure through immediate lease-up of the vacant JADU and oversized garage, plus additional loss-to-lease upside across below-market residential units already on scheduled annual increases. Irreplaceable at today's land and construction costs, 1686 Hayes represents a durable, diversified long-term hold in a supply-constrained market — with meaningful near-term growth for the next owner.
QUICK FACTS (structured spec fields)
Price: $6,500,000
Property Type: Multifamily — Mixed-Use (with ground-floor retail)
Units: 11 total (9 residential incl. JADU + 2 commercial)
Building Size: ±10,050 SF
Garages: 3 + shared courtyard
Pro-Forma NOI: $390,069
Cap Rate: 6.0% (pro-forma)
GRM: 14.8 (pro-forma)
Price/Unit: $591,000 · Price/SF: $647
Submarket: NoPa / Alamo Square · San Francisco 94117
APN: 1198-021 and 1198-020