Multifamily Property for Sale in San Francisco, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Francisco, CA 94133

Description

Located in the heart of Russian Hill, one of San Francisco's most desirable and supply-constrained residential neighborhoods, 1437 Mason Street presents a rare opportunity to acquire a fully permitted renovation project with significant upside. The property consists of a two-unit residential building originally constructed in 1907, situated on a 2,750 square foot lot in the RM-2 zoning district. The project has already secured approvals and permits through the San Francisco Department of Building Inspection, allowing a buyer to immediately move forward with construction and reposition the asset into a modern, high-end residential property. The approved plans call for a comprehensive redevelopment of the existing structure while maintaining the building envelope. The project includes: Complete interior reconfiguration of both residential units, New structural foundation and seismic improvements, Conversion of basement space into functional living area, Removal and replacement of existing stair systems, Full facade upgrades and exterior improvements, New roof deck elements and modernized architectural features. Upon completion, the project will deliver two redesigned residential units with modern layouts, updated systems, and enhanced outdoor space. Permits in hand for the follow unit mix: One (3) bed (3) bath - UPSTAIRS One (1) bed (1.5) bath - DOWNSTAIRS Investment Highlights: • Building permits have been issued, allowing a developer to bypass much of the entitlement risk and lengthy San Francisco planning timeline. • The property sits in one of the city's most sought-after neighborhoods, within walking distance to North Beach, Polk Street, and the waterfront. • The scope allows a buyer to transform a dated structure into a modern luxury residential property with strong resale or rental potential. • Engineering plans include foundation upgrades and structural modernization, reducing unknowns during construction.

Market Context

This multifamily in San Francisco, CA is listed for sale. It has been on the market for 67 days. Compare it against other multifamily listings for sale in San Francisco, CA — <a href="/search/sale/multifamily/california/san-francisco">view the full market</a>.

As of Q1 2026, the San Francisco multifamily market showed average asking rents near $2998.00/unit/mo, rents up 5.8% year over year, and cap rates around 5.2%. Source: Consensus Q1 2026 market report.

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

Multifamily market FAQ

What is the typical cap rate for multifamily in San Francisco?
About 5.2% as of Q1 2026, per Consensus.

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