291 Capp St 5,903 SF 100% Leased Retail Building San Francisco, CA 94110 $1,650,000 ($279.52/SF) 6.30% Cap Rate

This mixed-use investment offering consists of two adjacent buildings with a diversified residential and commercial unit mix located in an established San Francisco neighborhood. The portfolio includes 3344–3348 18th Street and 291–293 Capp Street, providing a total of four income-producing units comprised of three residential units and one ground-floor retail space.
The 3344–3348 18th Street building features a three-bedroom, two-bath residential unit situated above a street-level retail space currently occupied by a neighborhood pizza operator. The offering also includes 291–293 Capp Street, which consists of two additional three-bedroom, two-bath residential units. All units are currently leased, delivering immediate in-place income and stabilized cash flow at acquisition.
The property is offered at $1,650,000, reflecting an in-place cap rate of approximately 6.3% based on current operations. The cap rate calculation assumes actual in-place rents, a 5% vacancy allowance, and limited landlord-paid expenses including property taxes, insurance, water, and garbage, along with a recent one-time $6,000 water heater replacement expense. Property taxes are underwritten at an estimated 1.18% of value, and insurance is normalized to market coverage levels. No management fee or additional operating reserves are assumed in the cap rate, consistent with current ownership operations.
This offering is priced to reflect existing income, vintage construction, and current expense structure, presenting an attractive opportunity for investors seeking strong yield today with long-term upside through active ownership, expense optimization, and future rent growth. The mixed-use configuration provides income diversification and stability within a supply-constrained San Francisco submarket.
Income and expense information is provided for underwriting guidance only and should be independently verified by buyers. Property is offered as-is. Please do not disturb tenants.
In-Place 6.3% Cap Rate based on current rents and conservative underwriting
Offered at $1,650,000 with immediate cash flow from fully leased units
Mixed-Use 4-Plex consisting of 3 residential units and 1 street-level retail space
Strong In-Place Income: $148,308 annual gross scheduled rent
Diversified Revenue Stream with residential and commercial tenancy
Limited Landlord Expenses including only property taxes, insurance, water, and garbage
5% Vacancy Allowance applied for market-standard underwriting
Recent Capital Investment: ~$6,000 in water heater replacements completed
Vintage San Francisco Construction with long-term value and rent growth potential
Stabilized Upside as one-time capital expenses roll off future cash flow
Attractive Yield for San Francisco relative to comparable mixed-use offerings
As-Is Sale providing flexibility for investors seeking yield today with long-term appreciation