San Francisco is called The Golden City in reference to the California Gold Rush and for its great history, beaches, museums, golden sunsets and iconic Golden Gate Bridge. Its major technology industry and its relationship with the growing Silicon Valley make San Francisco one of the wealthiest and most expensive cities in the country.
Related: New multi-family real estate investment offering in the San Francisco Bay Area with a target IRR of 15.8%
Real Estate Market Trends in San Francisco
Median home price in San Francisco: $1,615,000
Median home prices in San Francisco are much higher than in most other parts of the United States. With a below-average increase of 11.8% year over year, median prices are still well above the national median home price of $424,000. Median home prices in this market have remained well above $1,200,000 for many years and are currently on an upward trend.
Rental market in San Francisco
Median rent in San Francisco: $3,157
Rental vacancy in San Francisco: 5.6%
Median rent prices in San Francisco saw a year-over-year increase of 10.4% versus 16.4% nationally, but remain well above national median rent prices. San Francisco’s rental vacancy rate fell 2.8% to match the national average of 5.8%.
See also: Real Estate Investing Guides and Resources
Current real estate investments in San Francisco
There are currently 84 multi-family and residential income properties for sale in San Francisco listed on Loopnet.
The hottest multi-family properties for sale in San Francisco right now are:
74 Crestline Drive – A 12-unit building atop Twin Peaks overlooking the San Francisco Bay and downtown is for sale for $6,999,995. It is a well maintained property with beautiful rehabilitations and recent turnover for higher rental prices. Listed by KW Commercial.
280-282 7th St – A 2-building mixed-use opportunity is for sale in the SOMA neighborhood for $3,250,000. There are 20 residential units and 1 commercial unit close to shops, parks and restaurants. Listed by Veev.
Source of market data: Housing Tides and red fin
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