San Francisco 2019 Year-End Report: 2-4 Unit Market

Allison Chapleau
January 27, 2020

The 2-4 Unit Residential Investment Market

San Francisco 2019 Year-End Report

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The San Francisco 2-4 multi-unit market has seen a steady increase in values since 2011. Values in 2019 remained stable and strong, with 2-4 multi-unit properties trading at approximately the same price per square foot as in 2018.

The median sale price for 2-4 unit buildings in San Francisco ticked up 1.3% on a yearly basis to $2,025,000 in 2019. The median days on market shed 1 day down to 27.

Inventory remained low in 2019, with 446 2-4 unit buildings sold – approximately the same number of transactions as 2018, when 451 2-4 unit buildings were sold.

Accurately priced properties are currently selling quickly, with more than 50% of listings being sold within the first 30 days of being on the market. Over half of buildings listed sold over asking with purchasers paying a combined average of 4.3% over list price.  We expect values to stay strong and stable throughout 2020.

2-4 UNIT PROPERTY VALUES REMAIN STABLE

2-4 UNIT INVENTORY REMAINS LOW
BUILDING VALUES BY NEIGHBORHOOD
2019 YEAR-END 2-4 UNIT PROPERTY STATISTICS
MOST EXPENSIVE 2-UNIT PROPERTY: Measured By Sales Price
151-153 Liberty Street
2 Units in Eureka Valley
$8,500,000
$1,672/SqFt
Total SqFt: 5,085
MOST EXPENSIVE 3-UNIT PROPERTY: Measured By Sales Price
2557 Filbert Street
3 Units in Cow Hollow
$7,500,000
$1,232/SqFt
Total SqFt: 6,085
MOST EXPENSIVE 4-UNIT PROPERTY: Measured By Sales Price
846 Union Street
4 Units in Russian Hill
$4,999,999
$867/SqFt
Total SqFt: 5,770
MOST EXPENSIVE 2-4 UNIT MIXED-USE PROPERTY: Measured By Sales Price
1801 Divisadero Street
4 Unit Mixed-Use in Lower Pacific Heights
$4,425,000
$964/SqFt
Total SqFt: 4,590

MOST EXPENSIVE 2-UNIT PROPERTY: Measured By Price Per SqFt
2046 Filbert Street
2 Units in Cow Hollow
$6,100,000
$1,793/SqFt
Total SqFt: 3,402
MOST EXPENSIVE 3-UNIT PROPERTY: Measured By Price Per SqFt
2625 Lyon Street
3 Units in Cow Hollow
$5,400,000
$1,288/SqFt
Total SqFt: 4,190
MOST EXPENSIVE 4-UNIT PROPERTY: Measured By Price Per SqFt
1700 Waller Street
4 Units in Haight Ashbury
$1,850,000
$919/SqFt
Total SqFt: 2,012
MOST EXPENSIVE 2-4 UNIT MIXED-USE PROPERTY: Measured By Price Per SqFt
3461 Sacramento Street
2 Unit Mixed-Use in Presidio Heights
$3,300,000
$1,269/SqFt
Total SqFt: 2,600

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