Know what your multi-unit property is actually worth

San Francisco multi-unit valuations require more than square footage and comps. Get an analysis built on income potential, rent control realities, and 24 years of local market insight.

24+
Years in SF real estate
$1B+
In closed transactions
2-40+
Unit size properties represented
View of San Francisco cityscape with Coit Tower rising above a hill of trees and surrounding buildings under a partly cloudy sky.

"Allison represented myself and partners in the sale of our 3-unit building. There were multiple offers and we accepted a cash offer with a 10-day close, no contingencies. We can't say enough about Allison's work. She priced the property astutely and her marketing was truly exceptional."

538 WALLER STREET — SELLER
San Francisco is Different

What makes multi-unit valuation unique here

The factors that determine your property's value in San Francisco don't apply anywhere else. Understanding these nuances is the difference between a guess and an accurate valuation.

It's Not Just About Square Footage

In most cities, property value comes down to location and size. In San Francisco, your property's value is determined by a more complex picture: current rental income, tenant composition, potential income, and dozens of local regulations that affect what a buyer can actually do with the building. Whether you own a residential multi-unit, a mixed-use building with ground-floor retail, or a commercial property, each comes with its own set of valuation considerations specific to San Francisco.

The Income-Value Connection

Multi-unit and commercial properties are valued primarily on the income they generate. But in San Francisco, not all rental income is created equal. Rent-controlled residential units, commercial lease terms, tenant protections, and vacancy status all play a role in determining what buyers are willing to pay—and what lenders are willing to finance. A mixed-use building with retail on the ground floor and residential above has different income dynamics than a purely residential property.

Why Local Expertise Matters

Understanding these nuances requires someone who knows the difference between a protected residential tenant and a market-rate lease, who can evaluate commercial lease structures and CAM charges, who can read a rent roll and spot opportunities, and who stays current on neighborhood-specific buyer demand across residential, retail, and office spaces. That's where we come in.

The Framework

The Drivers of Multi-Unit Value

We look at value the way serious buyers and lenders do: income, risk, and exit optionality. Then we pressure-test it against recent comps and current demand.

Income and Risk
  • Current rent roll vs. market rates
  • Tenant stability and lease terms
  • Rent control implications
  • Expense ratio and NOI
Asset Fundamentals
  • Building age, condition, and systems
  • Unit mix and configuration
  • Deferred maintenance assessment
  • Code compliance status
Market Proof
  • Comparable sales analysis
  • Price per unit benchmarks
  • Cap rate trends by neighborhood
Demand and Scarcity
  • Location desirability factors
  • Buyer pool depth and competition
  • Inventory levels and absorption
  • Development pipeline impact
Our Process

How we determine your property's true value

When we analyze a property, we're looking at the complete picture. Here are the key areas we examine to determine your property's market value.

01

Location & Neighborhood Analysis

San Francisco is a city of micro-neighborhoods. We analyze not just which district you're in, but your specific block; proximity to transit, local amenities, school districts, and recent buyer activity in your immediate area. A few blocks can make a significant difference in value.

02

Income & Rent Potential

We review your current rent roll to understand your income baseline, then calculate what market-rate income could look like for your units. This "gap" between current and potential rent is often what determines buyer interest. We also identify which units might be candidates for market-rate conversion and what that timeline might look like.

03

Property Condition & Improvements

First impressions matter to buyers and lenders alike. We assess your property's physical condition; from foundation to facade, and identify which improvements offer the best return on investment. Sometimes a fresh coat of paint and landscaping can yield significantly more than the cost, while other upgrades might not pencil out before a sale.

04

Tenant Composition & Deliverability

In San Francisco's rent-controlled market, your tenant situation directly affects value. We evaluate lease terms, tenant stability, protected status, and whether any units are vacant or coming available. Properties with vacant units or clear delivery paths often command premium pricing from owner-users and investors alike.

Allison Chapleau wearing black glasses and a black sweater sitting by a window, writing in a notebook, with a large leafy plant nearby.
Built on Real Market Knowledge

Built on Real Market Knowledge

With over 24 years in San Francisco multi-unit and mixed-use real estate, our valuations are built on deep market experience. We've completed transactions across multi-unit residential, mixed-use, and commercial properties throughout every market cycle.

This hands-on experience means our valuations aren't based on theoretical models; they're informed by actual transaction data, real buyer feedback, and current market conditions we see every day.

Get Your Property Valuation

Ready to understand your property’s market value?

Whether you're considering selling, exploring a 1031 exchange, or simply want to understand where your property stands in today's market, an accurate valuation is the starting point.

allison chapleau with shoulder-length brown hair wearing a black turtleneck against a beige background.
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