2459 Lombard St · San Francisco, CA 94123

$1,199,000

10 bd · 9.0 ba · 5,381 sqft · MultiFamily public records · 41 Days on market

Built 1914 $268/mo HOA · 5% of rent

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Why this score? — see what drove the C 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 +16.8/30.0
• Appreciation +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

Beautifully remodeled Cow Hollow view home. Located in one of the most coveted neighborhoods in San Francisco. Enjoy partial views from your living room of the Golden Gate Bridge and Palace of Fine Arts. Cook in the chef's kitchen with high-end appliances, quartz counter tops, and ample cabinetry. Cozy up in front of the gas fireplace on cooler evenings. Entertain and dine on the amazing roof deck, equipped with gas BBQ, fridge, sink, fire pit, among stellar views to the Bay, Golden Gate Bridge, and beyond. Three bedrooms are at the rear of the building and have access to two designer bathrooms with walk-in showers. Infrastructure is upgraded too with new plumbing and electric systems, double pane windows, in-unit laundry, gas furnace, recessed lighting, intercom and keyless security locks on exterior doors. Walk Score 94 in an amazing location close to The Presidio, Marina Green, and countless cafes, bars and restaurants.

Key facts

• Caesarstone counters
• Integrated cabinetry
• Built 1914

Tags

• LOFT-STYLE COMMERCIAL SPACE
• OPEN LIGHT-FILLED MAIN FLOOR
• CUSTOM BUILT-IN DESKS
• INTEGRATED CABINETRY
• SUNKEN CHEF'S KITCHEN
• CAESARSTONE COUNTERS

Property features AI

Finance

• Other: TIC agreement in place; Part of a 5-unit community
• HOA & community: Monthly HOA fee of 268

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential Tenancy-in-Common; Built in 1914
• Construction: Built in 1914
• Exterior features: Ground-level entry

Interior

• Kitchen: Dishwasher; Free-standing gas oven; Free-standing gas range
• Bedrooms: 1 bedroom
• Flooring: Concrete flooring
• Bathrooms: 2 bathrooms (1 full, 1 half)
• Heating & cooling: Central heating
• Interior features: Central heating; Gas fireplace (1)
• Laundry & utility: Stacked washer/dryer

What this means for you Summary

Snapshot

• This is a 10-bed/9.0-bath multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.18M (1.5% below list).
• Recommended offer: $1.16M (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.1% 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.
• Market conditions: Rents rising fast (+19.2%/yr); 59 active listings in the ZIP; high-income renter base; 750 units permitted in San Francisco County in 2024 (688 in 5+ unit buildings).
• At $11,808/mo this rent would consume 65% of the median local household income ($219k/yr) (locally 883% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $106k of equity ($8k loan paydown + $98k appreciation (8.2% 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 (8.2% appreciation + 8.0% rent growth), your $336k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$170k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $400k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,163,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.98% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 8.5

CMA / ARV

• ARV (median comp): $2,759,737
• List price: $1,199,000
• Delta: -56.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2347-2351 Francisco St	0.15mi	10/7.0	5,961 (+11%)	15mo	$3,830,000	$643	54
2611-2615 Octavia St	0.73mi	9/4.0 (-1)	4,675 (-13%)	0mo	$3,320,000	$710	24

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

Projected returns pro-forma

8.18% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.85×
• Total profit: $619,562
• Equity at exit: $925,361

10-year hold

• IRR: 24.0%
• Equity multiple: 6.72×
• Total profit: $1,919,601
• Equity at exit: $1,850,785

Cash invested: $335,720 (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 94123

• Home prices YoY: 4.0%
• Rents YoY: 19.2%
• Active inventory: 59
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $11,808 medium
• Mortgage (P&I): −$6,288
• Tax est. 1.5%: −$1,499 /mo · $17,985/yr
• Insurance: −$500
• HOA: −$268
• Vacancy / Maint / Mgmt: −$2,480
• Net cashflow: $774

Break-even live

Break-even rent $10,828

Max offer price $1,199,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$11,808
Total (2 units)			$11,808

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: $299,750
• Closing costs: $35,970
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $268 · $3,216/yr
• Likely covers: gaselectricsecurity

Listing history 22 events

1. 2026-06-09
   days on market $1,199,000 Active 41 DOM
2. 2026-06-08
   days on market $1,199,000 Active 40 DOM
3. 2026-06-07
   days on market $1,199,000 Active 39 DOM
4. 2026-06-04
   days on market $1,199,000 Active 36 DOM
5. 2026-06-03
   days on market $1,199,000 Active 35 DOM
6. 2026-06-02
   days on market $1,199,000 Active 34 DOM
7. 2026-06-01
   days on market $1,199,000 Active 33 DOM
8. 2026-05-31
   days on market $1,199,000 Active 32 DOM
9. 2026-04-28
   listed $1,599,000 Active 1174-char remark
10. 2021-04-05
    soldstatus $1,290,000
11. 2019-08-05
    status Pending 936-char remark

    Show marketing remark (936 chars)

    Beautifully remodeled Cow Hollow view home. Located in one of the most coveted neighborhoods in San Francisco. Enjoy partial views from your living room of the Golden Gate Bridge and Palace of Fine Arts. Cook in the chef's kitchen with high-end appliances, quartz counter tops, and ample cabinetry. Cozy up in front of the gas fireplace on cooler evenings. Entertain and dine on the amazing roof deck, equipped with gas BBQ, fridge, sink, fire pit, among stellar views to the Bay, Golden Gate Bridge, and beyond. Three bedrooms are at the rear of the building and have access to two designer bathrooms with walk-in showers. Infrastructure is upgraded too with new plumbing and electric systems, double pane windows, in-unit laundry, gas furnace, recessed lighting, intercom and keyless security locks on exterior doors. Walk Score 94 in an amazing location close to The Presidio, Marina Green, and countless cafes, bars and restaurants.

12. 2019-08-02
    soldstatus $1,315,000
13. 2019-07-08
    historical Contingent - No Show 936-char remark

    Show marketing remark (936 chars)

    Beautifully remodeled Cow Hollow view home. Located in one of the most coveted neighborhoods in San Francisco. Enjoy partial views from your living room of the Golden Gate Bridge and Palace of Fine Arts. Cook in the chef's kitchen with high-end appliances, quartz counter tops, and ample cabinetry. Cozy up in front of the gas fireplace on cooler evenings. Entertain and dine on the amazing roof deck, equipped with gas BBQ, fridge, sink, fire pit, among stellar views to the Bay, Golden Gate Bridge, and beyond. Three bedrooms are at the rear of the building and have access to two designer bathrooms with walk-in showers. Infrastructure is upgraded too with new plumbing and electric systems, double pane windows, in-unit laundry, gas furnace, recessed lighting, intercom and keyless security locks on exterior doors. Walk Score 94 in an amazing location close to The Presidio, Marina Green, and countless cafes, bars and restaurants.

14. 2019-07-02
    soldstatus $1,285,000 Closed 936-char remark

    Show marketing remark (936 chars)

    Beautifully remodeled Cow Hollow view home. Located in one of the most coveted neighborhoods in San Francisco. Enjoy partial views from your living room of the Golden Gate Bridge and Palace of Fine Arts. Cook in the chef's kitchen with high-end appliances, quartz counter tops, and ample cabinetry. Cozy up in front of the gas fireplace on cooler evenings. Entertain and dine on the amazing roof deck, equipped with gas BBQ, fridge, sink, fire pit, among stellar views to the Bay, Golden Gate Bridge, and beyond. Three bedrooms are at the rear of the building and have access to two designer bathrooms with walk-in showers. Infrastructure is upgraded too with new plumbing and electric systems, double pane windows, in-unit laundry, gas furnace, recessed lighting, intercom and keyless security locks on exterior doors. Walk Score 94 in an amazing location close to The Presidio, Marina Green, and countless cafes, bars and restaurants.

15. 2019-07-02
    soldstatus $1,285,000

    Show marketing remark (936 chars)

    Beautifully remodeled Cow Hollow view home. Located in one of the most coveted neighborhoods in San Francisco. Enjoy partial views from your living room of the Golden Gate Bridge and Palace of Fine Arts. Cook in the chef's kitchen with high-end appliances, quartz counter tops, and ample cabinetry. Cozy up in front of the gas fireplace on cooler evenings. Entertain and dine on the amazing roof deck, equipped with gas BBQ, fridge, sink, fire pit, among stellar views to the Bay, Golden Gate Bridge, and beyond. Three bedrooms are at the rear of the building and have access to two designer bathrooms with walk-in showers. Infrastructure is upgraded too with new plumbing and electric systems, double pane windows, in-unit laundry, gas furnace, recessed lighting, intercom and keyless security locks on exterior doors. Walk Score 94 in an amazing location close to The Presidio, Marina Green, and countless cafes, bars and restaurants.

16. 2019-06-07
    listed $1,295,000 Active 936-char remark

    Show marketing remark (936 chars)

    Beautifully remodeled Cow Hollow view home. Located in one of the most coveted neighborhoods in San Francisco. Enjoy partial views from your living room of the Golden Gate Bridge and Palace of Fine Arts. Cook in the chef's kitchen with high-end appliances, quartz counter tops, and ample cabinetry. Cozy up in front of the gas fireplace on cooler evenings. Entertain and dine on the amazing roof deck, equipped with gas BBQ, fridge, sink, fire pit, among stellar views to the Bay, Golden Gate Bridge, and beyond. Three bedrooms are at the rear of the building and have access to two designer bathrooms with walk-in showers. Infrastructure is upgraded too with new plumbing and electric systems, double pane windows, in-unit laundry, gas furnace, recessed lighting, intercom and keyless security locks on exterior doors. Walk Score 94 in an amazing location close to The Presidio, Marina Green, and countless cafes, bars and restaurants.

17. 2019-05-05
    historical Canceled
18. 2019-04-04
    historical Canceled
19. 2019-03-08
    listed $1,395,000 Active
20. 2019-01-18
    listed $5,695,000 Active
21. 2018-06-19
    historical
22. 2018-03-08
    listed $5,699,000 Active

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

Taxation est. · year 1

• Rental income: $141,696
• − Mortgage interest: −$67,163
• − Property taxes: −$17,985
• − Insurance: −$5,995
• − Repairs & maintenance: −$11,336
• − Management: −$11,336
• − HOA: −$3,216
• − Depreciation: −$34,880
• Taxable loss: −$10,214
• Est. tax savings @ 24.0%: +$2,451
• After-tax cash flow: $11,743/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.

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

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 · 827,552 people
• City population: 827,552
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 24,054
• Household income: $218,603
• Rent vs Own: 69.6% rent · 30.4% own
• Severe rent burden: 883.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 11% Two or more races 11% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 3% Salvadoran 1%
• Common ancestry: Scotch-Irish 4% Italian 4% Lithuanian 3%
• Foreign-born: 17% · Canada, China, Dominican Republic
• Languages at home: 83% English-only · Spanish 5% Other Indo-European 3% Chinese 3%

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: ▲ 8.18%
• Current HPI: 212.9289
• Rent YoY: ▲ 19.17%
• Metro: San Francisco-Oakland-Berkeley, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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

-79.0% since first listed

15 events — show timeline

• 2026-05-26 Price Changed $1,199,000 San Francisco MLS
• 2026-04-28 Listed $1,599,000 San Francisco MLS
• 2021-04-05 Sold (Public Records) $1,290,000 Public Records
• 2019-08-05 Pending — San Francisco MLS
• 2019-08-02 Sold (Public Records) $1,315,000 Public Records
• 2019-07-08 Contingent — San Francisco MLS
• 2019-07-02 Sold (Public Records) $1,285,000 Public Records
• 2019-07-02 Sold (MLS) $1,285,000 San Francisco MLS
• 2019-06-07 Listed $1,295,000 San Francisco MLS
• 2019-05-05 Delisted — San Francisco MLS
• 2019-04-04 Delisted — San Francisco MLS
• 2019-03-08 Listed $1,395,000 San Francisco MLS
• 2019-01-18 Listed $5,695,000 San Francisco MLS
• 2018-06-19 Delisted — San Francisco MLS
• 2018-03-08 Listed $5,699,000 San Francisco MLS

Property tax history

+21.7%/yr

Latest (2025): $65,092 · +3.1% YoY. Source: county tax records.