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1532 Howard St, San Francisco, CA 94103, San Francisco, CA 94103 | Multifamily Income Property

1532 Howard St, San Francisco, CA 94103, San Francisco, CA 94103
Featured Multifamily
REI Capital advisor
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Market Insight

Opportunity

The sale price of $4,895,000 and price per unit of $326,333 are within the typical range for central San Francisco multifamily properties, but the calculated price per square foot of $595.14 suggests a premium valuation. Investors should verify rental income potential against this basis to ensure target returns (e.g., a 4Ć¢ā‚¬ā€œ5% cap rate, assuming market NOI benchmarks). Without NOI data, modeling conservative pro forma cash flows is critical to assess feasibility.

Market Insight

Opportunity

Given the missing details on renovations and amenities, there is likely upside through targeted capital improvements. Upgrading units, adding amenities (e.g., rooftop spaces, smart home features), or improving energy efficiency could boost rents and NOI, potentially increasing property value by 10Ć¢ā‚¬ā€œ20% over a 3Ć¢ā‚¬ā€œ5 year hold period.

Market Insight

Risk

The absence of key financial data (NOI, cap rate) and property condition information necessitates rigorous due diligence. Investors should conduct a physical inspection, review historical income/expenses, and analyze local rent comparables to validate assumptions. Additionally, assessing San Francisco’s regulatory environment (e.g., rent control implications) is essential to avoid unforeseen liabilities.

Market Insight

Strength

The 94103 zip code is a high-demand urban corridor with access to employment centers, public transit, and amenities, reducing tenant turnover risk and supporting rental premiums. This location advantage enhances the property’s long-term appreciation potential and marketability, making it suitable for investors seeking exposure to San Francisco’s core multifamily market.

Market Insight

Strength

This property represents a central market entry point in a supply-constrained city, ideal for investors with a medium- to long-term horizon. While upfront pricing is premium, San Francisco’s historical resilience suggests that well-located multifamily assets like this can weather economic cycles and deliver solid returns through rental growth and capital appreciation, especially if acquired before anticipated market upswings.

$4,895,000
Investment Value
0.00%
CAP Rate
šŸ“ˆ Strong 0.00% cap rate vs market average.
$0
Annual NOI
šŸ’° High NOI demonstrates strong operational efficiency.
8,225 SF
Rentable Area
šŸ¢ Optimal size for institutional investors.
$595.14
Price per SF
šŸŽÆ Attractive price per SF vs comparable properties.

San Francisco, CA Multifamily Property Overview

  • Multifamily Building located in San Francisco, CA
  • 8,225 SF of rentable area

Property Details

Year Built N/A Building Type Multifamily
Total Size 8,225 SF Zoning N/A
Parking Spaces N/A Property Tax Rate 1.18%
Cap Rate 0.00% Annual NOI $0
Price $4,895,000 Price/SF $595.14
Location San Francisco, CA County San Francisco
REI Capital advisor
Align Your Capital Strategy

Compare direct ownership against passive CRE platform exposure.

The calculator below frames the capital, risk, and operating burden of acquiring a property directly. REI Capital provides a professionally managed alternative with institutional underwriting and a 9% target annual growth projection.

REI Capital advisor

Model your investment returns and cash flow projections

25%
5.0%
30 years
1.18%
5 years
4.0%
Down Payment Amount: $2,125,000
Loan Amount: $6,375,000
Monthly Mortgage: $34,234
Monthly Tax: $8,365
Total Monthly Payment: $42,599
Monthly Cash Flow: $1,234
Cash on Cash Return: 8.7%
Cap Rate: 6.2%
Debt Coverage Ratio: 1.54x
IRR (5 years): 12.3%
Projected Property Value: $9,854,932
Net Equity at Sale: $4,567,890
šŸ“Š Monthly Payment Analysis

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šŸ’µ Cash on Cash Return

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šŸš€ Internal Rate of Return

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šŸ›ļø Property Tax Analysis

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* Calculations are estimates only. Actual returns may vary based on market conditions, financing terms, operating expenses, and other factors. Consult with financial and legal professionals before making investment decisions.

Capital Allocation Comparison

Direct ownership vs. passive CRE platform exposure

Compare the same starting capital across two allocation paths: direct property ownership with operational responsibility, debt exposure, and single-asset concentration, versus a professionally managed REI Capital platform strategy built around institutional underwriting and a 9% target annual growth projection.

Direct Property Ownership
  • Concentrated exposure to one property and market
  • Debt service, refinancing, and rate sensitivity
  • Active leasing, vendor, and asset oversight
  • Vacancy, capex, and maintenance obligations
  • Illiquid exit process with timing risk
  • Transaction costs can compress realized returns
Projected direct ownership outcome Calculating… —
VS
REI Capital Platform Exposure
  • Passive exposure without direct operator liability
  • Institutional underwriting and acquisition discipline
  • Professional asset management and reporting
  • Strategy designed to reduce single-asset concentration
  • 9% annual target growth projection for comparison
  • Curated deal flow with a passive capital framework
Projected platform exposure at 9% target Calculating… —
Projected difference —

Calculating the comparison…

* REI Capital Growth uses a 9% target annual growth projection for comparison only. Returns are not guaranteed and actual results may vary. Consult a financial professional before making investment decisions.

Who This Is Designed For

Built for investors evaluating passive commercial real estate exposure

REI Capital is positioned for investors who want institutional-quality underwriting, disciplined capital deployment, and real estate exposure without managing the asset directly.

Accredited Investors

Deploy capital into a professionally managed real estate strategy without taking on daily operator responsibilities.

Family Offices

Evaluate long-duration CRE exposure with an emphasis on underwriting discipline and capital preservation.

1031 Exchange Buyers

Compare direct replacement ownership against passive alternatives with reduced operational complexity.

High-Income Professionals

Access commercial real estate exposure while preserving time, focus, and liquidity for core priorities.

Where Your NOI Goes Each Month

* Distribution based on current inputs. Actual expenses may vary.

ROI Over Time: Direct Ownership vs REI Capital

* Property return uses a conservative 3.8%–4.2% annual capital appreciation assumption. REI Capital uses a 9% target projection. Returns are not guaranteed.

Deployment Scenario Analysis

Your Down Payment: Direct Ownership vs REI Capital Platform Exposure

Same starting capital. Compare a direct ownership path against passive capital deployment through REI Capital.

Direct ownership (3.8%–4.2% appreciation) REI Capital (9% target)

* "Direct ownership" shows the same down payment growing at the selected 3.8%–4.2% annual capital appreciation rate. "REI Capital" shows the same down payment growing at 9% annual target. Returns are not guaranteed.

Allocation Rationale

Why sophisticated investors choose passive CRE exposure

Direct ownership can be powerful, but it also concentrates capital, time, and execution risk into one asset. Passive CRE exposure helps investors participate in professionally managed real estate strategies while reducing the operational burden of owning the property themselves.

  • Professional underwriting before capital deployment
  • Reduced exposure to single-asset operational demands
  • Access to institutional sourcing and asset management
  • Passive framework built for long-term capital strategy
  • Clearer comparison against direct ownership costs
  • Time-efficient exposure for qualified investors
Investor Materials

A more efficient way to deploy capital

The analysis above is only the starting point. Review the REI Capital investment materials to understand the acquisition strategy, underwriting framework, risk controls, and investor onboarding process behind the 9% target projection.

  • Acquisition strategy & deal flow
  • Underwriting and risk framework
  • Platform team and execution process
  • Investor qualification and next steps
Access Investment Materials

For qualified investors Ā· Private overview Ā· PDF access

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Investment Due Diligence For 1532 Howard St, San Francisco, CA 94103, San Francisco, CA Income Property

Key questions for informed investment decisions

What is the core investment thesis for this property? +
The core investment thesis centers on acquiring a scalable, 15-unit multifamily asset in the heart of San Francisco's high-demand 94103 zip code. This mid-rise building offers a strategic entry point into one of the nation's most resilient and supply-constrained urban markets. The investment leverages San Francisco's robust tech-driven economy, enduring housing shortage, and strong demographic tailwinds supporting rental demand. With a price per unit of approximately $326,333 and a calculated price per square foot of $595.14, the property presents an opportunity to capitalize on long-term appreciation and rental growth, diversified across multiple income streams. The value proposition is further enhanced by the potential for operational efficiencies and value-add upgrades to increase net operating income (NOI) over a medium- to long-term hold period.
What are the key financial metrics and how do they compare to the market? +
The property is listed at a sale price of $4,895,000, equating to $326,333 per unit and $595.14 per square foot. Specific financial metrics such as the Net Operating Income (NOI) and Capitalization Rate (Cap Rate) are not provided in the available data and require further due diligence. Based on the calculated price per square foot, the valuation aligns with premium multifamily benchmarks in central San Francisco. Investors should conduct a thorough pro forma analysis using current market rental comparables and expense ratios to estimate a realistic NOI. In the San Francisco multifamily market, cap rates typically range from 3.5% to 5% for well-located assets, suggesting a target NOI in the range of $171,325 to $244,750 would be needed to align with this pricing. Verification of income, expenses, and local rent control regulations is essential for accurate underwriting.
How does the location and submarket (94103) impact the investment's strength and risk? +
The location at 1532 Howard St in the 94103 zip code is a primary strength. This area is part of San Francisco's vibrant urban core, characterized by proximity to major employment centers (including tech hubs), cultural amenities, dining, retail, and public transit options. This dynamic submarket supports high occupancy rates, attracts a stable tenant base of urban professionals, and commands rental premiums. The high barriers to new construction in San Francisco protect long-term value. However, the location also introduces specific risks, including exposure to potential market volatility linked to the tech sector, stringent local regulations (e.g., rent control ordinances), and competitive pressures from newer developments. Investors must weigh the submarket's strong demand fundamentals against these regulatory and economic cyclicality risks.
What are the primary risks associated with this investment? +
The primary risks include: Financial Data Gaps: The absence of confirmed NOI, cap rate, tax rate, and historical operating statements necessitates extensive due diligence to validate income and expense projections. Property Condition Unknowns: Lack of information on the year built, renovation history, and structural condition could indicate significant deferred maintenance or imminent capital expenditures, impacting cash flow. Market and Regulatory Risks: San Francisco's real estate market is influenced by economic cycles, particularly in the tech sector. Additionally, local rent control and eviction regulations can limit rental growth and operational flexibility. Pricing and Cash Flow Risk: The premium price per unit and per square foot may pressure initial cash flow if achievable rents do not meet pro forma expectations, requiring careful rent benchmarking and conservative underwriting.
What value-add opportunities exist to enhance the property's income and value? +
Several value-add opportunities are apparent, given the lack of detailed information on amenities and renovation status: Unit Upgrades: Modernizing interiors (e.g., kitchens, bathrooms, flooring) and installing energy-efficient appliances can justify rental increases and reduce tenant turnover. Amenity Creation: Adding desirable amenities such as a rooftop deck, co-working space, fitness area, or enhanced security features could differentiate the property and support premium rents. Operational Efficiency: Implementing cost-saving measures like water-saving fixtures, LED lighting, or smart building technology can reduce operating expenses and improve NOI. Common Area Improvements: Upgrading lobbies, hallways, and exterior spaces can enhance curb appeal and overall tenant satisfaction. Executing a targeted capital improvement plan could potentially boost NOI by 10-20%, significantly increasing the property's value upon a future sale, especially in a market that rewards upgraded, modern living spaces.

Things Near 1532 Howard St, San Francisco, CA 94103, San Francisco, CA

Powell Street BART Station

0.8 miles

Westfield San Francisco Centre

0.9 miles

Yerba Buena Gardens

0.5 miles

San Francisco Museum of Modern Art (SFMOMA)

0.3 miles

The View Lounge (Marriott Marquis)

0.4 miles

About San Francisco

San Francisco, CA is a stable investment market with a median household income of $75,604 and a relatively high poverty rate of 11.5%. This market tends to attract a diverse population, with top ethnicities including White (29.7%), White Non-Hispanic (25.9%), and Asian (22.1%). The median age of 38.5 years old suggests a mature and established community. However, the 11.5% poverty rate suggests some risk, particularly in certain neighborhoods. On the other hand, the high health insurance coverage rate of 94.2% and relatively short average commute time of 30.5 minutes indicate a high quality of life. The top industries in San Francisco, including Information, Finance & Insurance, and Professional, Scientific, & Management, also suggest a strong and diverse economy. With a median property value of $744,600 and a homeownership rate of 37.5%, the housing market is competitive, but there are still opportunities for investment. Overall, San Francisco is a complex market that requires careful consideration of both opportunities and challenges, including the high cost of living and potential risks associated with poverty and income inequality, which has a GINI coefficient of 0.516. The fact that 94.2% of the population has health insurance and the average commute time is 30.5 minutes are also important factors to consider when evaluating this market for investment.

Population 817,501
Median Age 38.5
Avg. Household Income $75,604
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