San Francisco 2–4 Unit Building Market Report — Q1 2026

San Francisco's 2–4 unit apartment building market had its strongest quarter since spring 2022. Limited housing inventory across the city is pushing buyers into multi-unit properties, while the AI startup boom and rising renter demand continue to fuel prices.

Q1 2026 Prices

Median sale price: $2,050,000 (+21% year over year) 2-unit buildings: $2,144,000 3–4 unit buildings: $1,859,000

Price Per Square Foot

~$700/sq ft (+18% year over year)

With tight supply showing no signs of easing, buyer demand remains strong and rents are climbing across most neighborhoods.

The full report includes price trends by building size, neighborhood breakdowns, and historical sales data back to 2011.

Statistics are general market indicators and are not applicable to any specific property. Contact Allison Chapleau for a comparative market analysis tailored to your property.

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