675 Ofarrell St · San Francisco, CA 94109

$3,500,000

4 bd · 25.0 ba · 12,000 sqft · MultiFamily public records · 176 Days on market

Built 1938 Good condition 3,097 sqft lot $292/sqft · 11% below area Est $3.926M · 11% under

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Why this score? — see what drove the A- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.4/30.0
• ARV discount +12.4/15.0
• DSCR +9.6/10.0
• 1% rule +9.2/10.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 25 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

675 O'Farrell Street presents a rare opportunity to acquire a 25-unit multifamily asset in the Tenderloin neighborhood. Constructed in 1938, the property consists of approximately 12,000 square feet on a 3,097 square foot lot and features a unit mix of twenty-one (21) studios and four (4) one-bedroom units. The building offers a classic San Francisco aesthetic with well-maintained interiors, including hardwood flooring, bay windows in select units, and functional layouts with strong natural light. Kitchens are equipped with gas stoves, granite countertops, and wood shaker cabinetry, while bathrooms feature tile surrounds and standard tub/shower configurations. On-site amenities include an elevator, secured entry system, shared laundry facilities, and additional basement storage. Ideally located near Union Square, Polk Street, and major transportation corridors including Van Ness Avenue, the property offers tenants immediate access to dining, retail, employment hubs, and public transit throughout San Francisco. The central location and strong transit connectivity position the asset for continued tenant demand and long-term appreciation. 675 O'Farrell Street provides investors with stable in-place income and significant rental upside, with current rents below market and approximately 38% projected income growth as units turn over.

Key facts

• Hardwood flooring
• Gas stoves
• Bay windows

Tags

• 25 UNIT MULTIFAMILY ASSET
• WELL MAINTAINED INTERIORS
• HARDWOOD FLOORING
• BAY WINDOWS
• GAS STOVES
• GRANITE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 21×?bd/1ba + 4×1bd/1ba units multifamily listed at $3.50M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $10k ($122k/yr) — positive. Per door: $408/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($50k rent vs $3.50M).
• Recommended offer: $3.08M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 2.2% in San Francisco — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#90 in CA, #3,143 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• San Francisco Unified (urban): math 50% / reading 56% proficiency, ranked #322 of 1,400 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lilienthal (Claire) Elementary (669 students, 19% FRL); Giannini (A.P.) Middle (1,192 students, 34% FRL); Lowell High (2,632 students, 37% FRL) — zoned schools average 30% FRL vs 49% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 313 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).

Forward outlook

• In year one you build about $200k of equity ($24k loan paydown + $176k appreciation (5.0% local appreciation)).
• San Francisco County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $980k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$321k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($3.08M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,080,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
11. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.49%
• DSCR: 1.56
• GRM: 5.9

CMA / ARV

• ARV (median comp): $3,925,913
• List price: $3,500,000
• Delta: -10.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1627-1631 Clay St	0.54mi	4/—	10,160 (-15%)	7mo	$2,300,000	$226	44
1563 Pine St	0.42mi	5/— (+1)	10,015 (-16%)	23mo	$1,895,000	$189	31
555 Broderick St	1.48mi	5/— (+1)	9,615 (-20%)	10mo	$4,200,000	$437	27
1630 Jones St	0.78mi	4/—	9,043 (-25%)	22mo	$3,900,000	$431	22
775-777 Haight St	1.42mi	5/— (+1)	9,280 (-23%)	22mo	$2,820,000	$304	16

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 2.49×
• Total profit: $1,464,518
• Equity at exit: $1,987,938

10-year hold

• IRR: 23.1%
• Equity multiple: 4.95×
• Total profit: $3,871,419
• Equity at exit: $3,434,665

Cash invested: $980,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City San Francisco: 0 Strongly Tenant-Friendly · D+57

SF Rent Ordinance + Eviction Protections; relocation $10k+; one of strictest in US.

Methodology + full state rankings →

ZIP-level market 94109

• Home prices YoY: 2.9%
• Active inventory: 313
• Price-to-rent: 153.9×

Monthly cashflow live

• Estimated rent: $49,775 high
• Mortgage (P&I): −$18,354
• Tax from tax record: −$9,307 /mo · $111,690/yr
• Insurance: −$1,458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$10,453
• Net cashflow: $10,202

25-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 21× units	0	1	$39,795
▸ 4× units	1	1	$9,980
Total (25 units)			$49,775

Break-even live

Break-even rent $36,861

Max offer price $3,500,000

Occupancy floor 74%

Sensitivity live

Price	-10% $12,183	-5% $11,193	+0% $10,202	+5% $9,211	+10% $8,221
Rent	-10% $6,270	-5% $8,236	+0% $10,202	+5% $12,168	+10% $14,134
Rate	-1.0pp $11,965	-0.5pp $11,092	base $10,202	+0.5pp $9,295	+1.0pp $8,372

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $875,000
• Closing costs: $105,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 Ofarrell St San Francisco, CA	2.0	1.0	394	$2,495	$6.33	85d	1	0.12mi
540 Leavenworth St San Francisco, CA	1.0	1.0	366	$3,520	$9.60	3d	2	0.12mi
737 Post St San Francisco, CA	2.0	1.0–2.0	515	$5,503	$10.68	0d	13	0.18mi
424 Jones St San Francisco, CA	1.0	1.0	356	$2,495	$7.00	6d	2	0.18mi
57 Taylor St San Francisco, CA	1.0	1.0	207	$2,195	$10.60	10d	1	0.31mi
750 Golden Gate Ave San Francisco, CA	3.0	1.0–2.5	681	$2,280	$3.35	139d	1	0.47mi
1520 Gough St San Francisco, CA	1.0	1.0	377	$3,845	$10.19	10d	2	0.53mi
1739 Pine St San Francisco, CA	1.0	1.0	367	$5,295	$14.43	33d	2	0.53mi
655 Powell St San Francisco, CA	2.0	1.0–2.0	579	$6,995	$12.07	18d	6	0.55mi
1369 Hyde St San Francisco, CA	3.0	1.0–2.0	301	$2,595	$8.62	28d	1	0.59mi
655 Stockton St San Francisco, CA	1.0	1.0	471	$5,840	$12.40	4d	5	0.66mi
1455 Leavenworth St San Francisco, CA	1.0	1.0	350	$3,000	$8.57	18d	1	0.66mi
27 Saint Louis Aly San Francisco, CA	1.0	1.0	245	$2,500	$10.20	27d	1	0.89mi
4 Beckett St San Francisco, CA	1.0	1.0	370	$2,885	$7.80	10d	1	0.94mi
4 Beckett St Unit 9 San Francisco, CA	1.0	1.0	370	$2,885	$7.80	7d	1	0.94mi
1532 Harrison St San Francisco, CA	2.0	1.0–2.0	628	$5,569	$8.86	0d	4	1.01mi
390 1st St San Francisco, CA	2.0	1.0–2.0	687	$7,324	$10.65	0d	12	1.24mi

Listing history 50 events

1. 2026-09-15
   days on market $3,500,000 Active 176 DOM
2. 2026-09-14
   days on market $3,500,000 Active 175 DOM
3. 2026-09-13
   days on market $3,500,000 Active 174 DOM
4. 2026-09-12
   days on market $3,500,000 Active 173 DOM
5. 2026-09-11
   days on market $3,500,000 Active 172 DOM
6. 2026-09-05
   days on market $3,500,000 Active 166 DOM
7. 2026-09-04
   days on market $3,500,000 Active 165 DOM
8. 2026-09-03
   days on market $3,500,000 Active 164 DOM
9. 2026-08-31
   days on market $3,500,000 Active 161 DOM
10. 2026-08-30
    days on market $3,500,000 Active 160 DOM
11. 2026-08-29
    days on market $3,500,000 Active 159 DOM
12. 2026-08-28
    days on market $3,500,000 Active 158 DOM
13. 2026-08-27
    days on market $3,500,000 Active 157 DOM
14. 2026-08-26
    days on market $3,500,000 Active 156 DOM
15. 2026-08-25
    days on market $3,500,000 Active 155 DOM
16. 2026-08-24
    days on market $3,500,000 Active 154 DOM
17. 2026-08-23
    days on market $3,500,000 Active 153 DOM
18. 2026-08-22
    days on market $3,500,000 Active 152 DOM
19. 2026-08-21
    days on market $3,500,000 Active 151 DOM
20. 2026-08-20
    days on market $3,500,000 Active 150 DOM
21. 2026-08-19
    days on market $3,500,000 Active 149 DOM
22. 2026-08-18
    days on market $3,500,000 Active 148 DOM
23. 2026-08-17
    days on market $3,500,000 Active 147 DOM
24. 2026-08-16
    days on market $3,500,000 Active 146 DOM
25. 2026-08-15
    days on market $3,500,000 Active 145 DOM
26. 2026-08-14
    days on market $3,500,000 Active 144 DOM
27. 2026-08-13
    days on market $3,500,000 Active 143 DOM
28. 2026-08-12
    days on market $3,500,000 Active 142 DOM
29. 2026-08-11
    days on market $3,500,000 Active 141 DOM
30. 2026-08-10
    days on market $3,500,000 Active 140 DOM
31. 2026-08-09
    days on market $3,500,000 Active 139 DOM
32. 2026-08-08
    days on market $3,500,000 Active 138 DOM
33. 2026-08-06
    days on market $3,500,000 Active 136 DOM
34. 2026-08-05
    days on market $3,500,000 Active 135 DOM
35. 2026-08-04
    days on market $3,500,000 Active 134 DOM
36. 2026-08-03
    days on market $3,500,000 Active 133 DOM
37. 2026-07-31
    days on market $3,500,000 Active 130 DOM
38. 2026-07-30
    days on market $3,500,000 Active 129 DOM
39. 2026-07-30
    days on market $3,500,000 Active 128 DOM
40. 2026-07-28
    days on market $3,500,000 Active 127 DOM
41. 2026-07-26
    days on market $3,500,000 Active 125 DOM
42. 2026-07-24
    days on market $3,500,000 Active 123 DOM
43. 2026-07-23
    days on market $3,500,000 Active 122 DOM
44. 2026-07-22
    days on market $3,500,000 Active 121 DOM
45. 2026-07-21
    days on market $3,500,000 Active 120 DOM
46. 2026-07-20
    days on market $3,500,000 Active 119 DOM
47. 2026-07-18
    days on market $3,500,000 Active 117 DOM
48. 2026-07-18
    days on market $3,500,000 Active 116 DOM
49. 2026-07-16
    days on market $3,500,000 Active 115 DOM
50. 2026-07-15
    days on market $3,500,000 Active 114 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $111,690 · $9,307/mo
• Projected year-2 tax: $111,690 · $9,307/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥79°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $597,300
• − Mortgage interest: −$196,054
• − Property taxes: −$111,690
• − Insurance: −$17,500
• − Repairs & maintenance: −$47,784
• − Management: −$47,784
• − Depreciation: −$101,818
• Taxable income: $74,669
• Est. tax owed @ 24.0%: −$17,921
• After-tax cash flow: $104,504/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $60,000–$180,000 screening

This 25-unit multifamily property in the Tenderloin neighborhood is in good condition with modern amenities and a classic San Francisco aesthetic. It offers a rare opportunity for investors to acquire a well-maintained property with potential for further value enhancement.

Value-add opportunities

• Both Paint exterior siding — Fresh paint enhances curb appeal and property value. ↑
• Both Replace window screens — Screens improve energy efficiency and safety. ↑
• Resale Upgrade kitchen appliances — Modern appliances attract more buyers. ↑
• Rental Install smart home devices — Smart devices appeal to tech-savvy renters and improve energy efficiency. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Tenderloin Community Middle Francisco Middle High Galileo High

Schools (NCES district)

• District: San Francisco Unified
• NCES district ID: 0634410
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $81,249
• Composite: 50.14/100
• National rank: #4088
• State rank: #322 of 1400 in CA

B Composite livability gradescore 76/100

Livability — San Francisco

• Score: 76/100
• State rank: #90
• US rank: #3143

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing B- Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Francisco, CA
• County: San Francisco County · 1,030,936 people
• City population: 827,552
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 54,553
• Household income: $106,018
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 8% of renters

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Population outlook (San Francisco County) Hauer SSP2

• Today (2025): 1,030,936 people
• By 2030: 1,110,409 · +7.7%
• By 2040: 1,270,010 · +23.2%
• By 2050: 1,435,001 · +39.2%
• By 2075: 1,779,074 · +72.6%
• By 2100: 1,966,767 · +90.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 50% Asian 27% Hispanic / Latino 13% Two or more races 10% Black 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 2%
• Foreign-born: 31% · China, Canada, Vietnam
• Languages at home: 64% English-only · Chinese 10% Spanish 7% Other Asian/Pacific 4%

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Political lean MEDSL · San Francisco

• 2024 margin: Solid D (+64.8) · D 80.3% · R 15.5% · Other 4.1%
• 2008→2024 swing: -5.7pp toward R · 2008: 70.5pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+72.5 2016: D+76.1 2012: D+70.2 2008: D+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.02%
• Current HPI: 175.8886
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-96.1% since first listed

4 events — show timeline

• 2026-03-23 Listed $3,500,000 San Francisco MLS
• 2018-09-11 Sold (Public Records) $8,011,500 Public Records
• 2012-06-01 Sold (Public Records) $2,703,000 Public Records
• 2010-11-18 Sold (Public Records) $90,000,000 Public Records

Property tax history

+10.4%/yr

Latest (2025): $111,690 · +3.0% YoY. Source: county tax records.