677 Ellis Street — Sale in San Francisco, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Francisco, CA 94109

Photos

677 Ellis Street — Sale in San Francisco, CA, photo 1 of 5
677 Ellis Street — Sale in San Francisco, CA, photo 2 of 5
677 Ellis Street — Sale in San Francisco, CA, photo 3 of 5
677 Ellis Street — Sale in San Francisco, CA, photo 4 of 5
677 Ellis Street — Sale in San Francisco, CA, photo 5 of 5

Investment Figures

Cap rate
6.82%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

677 Ellis Street is a 14-unit multifamily investment opportunity located in the heart of San Francisco. Built in 1908, the property consists entirely of studio units totaling 6,486 square feet and is currently 93% occupied. In-place rents are materially below market, providing investors with a clear value-add strategy through rent growth and stabilization. The asset benefits from individually metered gas and electric utilities, helping limit operating expense exposure. Offered at $2,475,000, the property generates a current NOI of approximately $168,882 and offers the potential to achieve a pro forma NOI of approximately $251,066, positioning the asset for meaningful cash-flow and value appreciation in a supply-constrained urban market. Investment Highlights: • 14-unit studio property located in a dense, transit-oriented San Francisco neighborhood with long-term rental demand. • Offered at ~$177K per unit with a 6.82% current cap rate and a projected 10.14% pro forma cap. • In-place rents average ~26% below market, creating a clear path to increased income through lease-up and rent repositioning.

Market Context

This multifamily in San Francisco, CA is listed for sale. It is offered at an approximate 6.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in San Francisco, CA — view the full market.

As of Q1 2026, the San Francisco multifamily market showed average asking rents near $2998.00/unit/mo, and rents up 5.8% year over year. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Contact

Explore this market

Similar Multifamily Property for Sale in San Francisco, CA