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1874 Vallejo St 6 Unit Apartment Building Offered at $3,400,000 at a 4.28% Cap Rate San Francisco, CA 94123
Investment Highlights
- Steps from premier retail, dining, and coffee shops in one of San Francisco's most affluent and supply-constrained submarkets.
- Built in 1924 with classic San Francisco architectural detail, appealing to renters seeking character alongside modern city living.
- 100% leased with a uniform one-bedroom unit mix, offering immediate stable cash flow with minimal management complexity.
Executive Summary
Marcus & Millichap is pleased to present 1874 Vallejo Street, a fully occupied, 6-unit multifamily asset located in San Francisco's prestigious Pacific Heights / Marina submarket. Built in 1924, the 6,681-square-foot building sits on a 0.08-acre lot and features a uniform mix of six spacious one-bedroom units averaging 1,114 square feet each. Offered at $3,400,000 ($566,667 per unit / $509 per square foot), the property is 100% occupied and generating $231,174 in Effective Gross Income and $145,602 in current NOI, reflecting a 4.28% current cap rate. With in-place rents averaging $3,247 per unit — roughly 26% below the estimated $4,400 market rate — the asset offers substantial mark-to-market upside, with pro forma NOI projected at $220,177 and a 6.48% pro forma cap rate. Individually metered gas and electric help minimize owner-paid expenses, while the property's prime Pacific Heights location places residents just steps from premier retail, dining, coffee shops, and transportation. With a median household income exceeding $170,000 and average market rents topping $4,000 in the immediate submarket, Pacific Heights remains one of San Francisco's most supply-constrained and sought-after rental markets, positioning 1874 Vallejo Street as a compelling opportunity to acquire a well-located, stabilized asset with meaningful embedded rental growth.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,400,000 | Property Type | Multifamily |
| Price Per Unit | $566,667 | Building Size | 6,681 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 4.28% | No. Stories | 3 |
| Gross Rent Multiplier | 14.54 | Year Built | 1924 |
| No. Units | 6 | Parking Ratio | 0.15/1,000 SF |
| Zoning | RM1 | ||
| Price | $3,400,000 |
| Price Per Unit | $566,667 |
| Sale Type | Investment |
| Cap Rate | 4.28% |
| Gross Rent Multiplier | 14.54 |
| No. Units | 6 |
| Property Type | Multifamily |
| Building Size | 6,681 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1924 |
| Parking Ratio | 0.15/1,000 SF |
| Zoning | RM1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $4,400 | - |
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Moderately bikeable
60/100
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