2490 Greenwich St · San Francisco, CA 94123

$10,250,000

9 bd · None ba · 15,954 sqft · MultiFamily · 10 Days on market

Built 1928 Good condition 5,998 sqft lot Est $8073k · 27% over

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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 +22.0/30.0
• Appreciation +9.1/10.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• ARV discount +0.0/15.0

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

2490 Greenwich Street presents a rare opportunity to acquire an eighteen (18) unit trophy apartment building in the heart of San Francisco's highly desirable Cow Hollow neighborhood. Situated on a prominent corner lot, the property features a balanced unit mix of nine (9) studios and nine (9) one-bedroom apartments, along with twelve (12) on-site parking spacesan increasingly valuable amenity in one of the city's most sought-after residential districts. Originally constructed in 1928, the building showcases classic San Francisco architecture and has tremendous curb appeal. Residents enjoy abundant natural light, attractive period details, and a highly functional layout that continues to app

Key facts

• Concrete foundation
• Functional layout
• Corner lot

Tags

• CORNER LOT
• ON-SITE PARKING SPACES
• ABUNDANT NATURAL LIGHT
• FUNCTIONAL LAYOUT
• SEPARATELY METERED UTILITIES
• CONCRETE FOUNDATION

Property features AI

Finance

• Other: Total building area approximately 15,954 (assessor); Lot features include sidewalk; lot area about 5,998 sq ft (0.1377 acres)
• Financial info: 18 total units, 16 leased and 2 vacant; Includes 8 occupied studios and 8 occupied one-bedroom units
• HOA & community: No association fee

Exterior

• Utilities: Separate gas meters; Separate electric meters
• Home design: Residential income property (multi-family, 5 or more units); Three or more levels; Built in 1928
• Construction: Originally built in 1928
• Exterior features: Sidewalk along the lot

Interior

• Bedrooms: 9 bedrooms total
• Flooring: Wood flooring
• Heating & cooling: Electric heating
• Interior features: Electric heating; Wood flooring

What this means for you Summary

Snapshot

• This is a 9-bed/?-bath multifamily listed at $10.25M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $16k ($196k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($110k rent vs $10.25M).
• Cap rate 8.2% 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 $110,353/mo this rent would consume 606% 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 $909k of equity ($71k loan paydown + $838k 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 $2.87M cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$1.46M cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $10,250,000

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.83%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $8,072,724
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2341 Chestnut St	0.11mi	9/—	15,510 (-3%)	17mo	$7,850,000	$506	76

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: 27.9%
• Equity multiple: 3.08×
• Total profit: $5,964,299
• Equity at exit: $7,910,716

10-year hold

• IRR: 26.8%
• Equity multiple: 7.28×
• Total profit: $18,010,431
• Equity at exit: $15,821,972

Cash invested: $2,870,000 (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 94123

• Home prices YoY: 4.0%
• Rents YoY: 19.2%
• Active inventory: 59
• Price-to-rent: 137.2×

Monthly cashflow live

• Estimated rent: $110,353 high
• Mortgage (P&I): −$53,752
• Tax est. 1.5%: −$12,812 /mo · $153,750/yr
• Insurance: −$4,271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$23,174
• Net cashflow: $16,343

Break-even live

Break-even rent $89,665

Max offer price $10,250,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 9× units	0	1	$56,034
▸ 9× units	1	1	$54,324
Total (18 units)			$110,353

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: $2,562,500
• Closing costs: $307,500
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $10,250,000 Active 10 DOM
2. 2026-06-17
   days on market $10,250,000 Active 9 DOM
3. 2026-06-16
   days on market $10,250,000 Active 8 DOM
4. 2026-06-15
   days on market $10,250,000 Active 7 DOM
5. 2026-06-13
   days on market $10,250,000 Active 5 DOM
6. 2026-06-13
   days on market $10,250,000 Active 4 DOM
7. 2026-06-08
   remarks 699-char remark
8. 2026-06-08
   listed $10,250,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥78°F today · 17 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: $1,324,236
• − Mortgage interest: −$574,159
• − Property taxes: −$153,750
• − Insurance: −$51,250
• − Repairs & maintenance: −$105,939
• − Management: −$105,939
• − Depreciation: −$298,182
• Taxable income: $35,017
• Est. tax owed @ 24.0%: −$8,404
• After-tax cash flow: $187,717/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 · 13 photos

Good 80/100 Cosmetic rehab

This multi-family property in San Francisco's Cow Hollow neighborhood is in good condition with cosmetic updates needed. It offers a great investment opportunity with potential for both resale and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace flooring — Improves aesthetics and value
• Both Update kitchen appliances — Modernizes and increases value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace flooring — Improves aesthetics and value ↑
• Both Update kitchen appliances — Modernizes and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-08 Listed $10,250,000 San Francisco MLS