San Francisco 2019 Mid-Year Report: 5+ Unit Market
Allison Chapleau
August 8, 2019
The 5+ Unit Residential Investment Market
San Francisco Mid-Year 2019 Report
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The San Francisco 5+ multi-unit market had a strong finish to the first half of 2019. The median sale price for 5+ Unit buildings came in at just under $3.6 million in Q2, representing a 3.6% increase from Q2 2018. Transaction volume was slow in Q1, with 21 buildings sold – a notable decline from the same time last year, when 37 buildings were sold. Sales picked back up in Q2 with 44 buildings sold, making it consistent with the sales volume seen in Q2 of 2018.
5+ UNIT PROPERTY VALUES REMAIN STABLE
2019 MID-YEAR 5+ UNIT PROPERTY STATISTICS
DAYS ON MARKET STATISTICS FOR SOLD 5+ UNIT PROPERTIES
MOST EXPENSIVE 5+ UNIT SALES: Measured By Sales Price
9 Units in Noe Valley
$9,000,000
$469/SqFt
Cap Rate: 4.74% | GRM: 16.12
13 Units in Russian Hill
$11,500,000
$647/SqFt
Cap Rate: 4.54% | GRM: 14.80
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86 Units in the Tenderloin
$18,850,000
$401/SqFt
Cap Rate: 4.34% | GRM: 12.32
7 Units Mixed-Use in Presidio Heights
$10,640,000
$738/SqFt
Cap Rate: 3.90% | GRM: 16.96
MOST EXPENSIVE 5+ UNIT SALES: Measured By Sales Price
6 Units in the Inner Richmond
$2,150,000
$758/SqFt
Cap Rate: 5.21% | GRM: 13.89
12 Units in Cow Hollow
$9,120,000
$748/SqFt
Cap Rate: 3.79% | GRM: 18.51
37 Units in Pacific Heights
$9,879,500
$806/SqFt
Cap Rate: 5.33% | GRM: 12.64
11 Units Mixed-use in Noe Valley
$7,600,000
$844/SqFt
Cap Rate: 5.13% | GRM: 14.55
