Multi-Family Residential (Apartment Buildings) Property Stats for San Francisco Third Quarter

As we begin approaching the last quarter of 2007, the apartment building market has began taking some interesting twists. The following data is compiled for sales of
6+ unit apartment buildings that have sold in San Francisco from January 1, 2007 unitl September of 2007.
This information has been obtained from the San Francisco Multiple Listing Services and from tax records. Neither Oron Maher nor Pacific Union take responsibility for the accuracy of this information.

Sales Price:

The range of sales prices is between $995,000-$19,000,000. The average sales price is $3,600,228. Total sales price is $446,428,277. The total number of sales is 124.

Units:

The range of number of units sold is between 6 and 114. The average number of units/building is 15.81. The total number of units sold is 1,961.

Price/Unit:

The range of price/unit is between $87,710 and $3,125,000. The average price/unit is $281,184.

Gross Income:

The range of gross income for buildings sold is between $55,464 and $1,333,369. The average gross income is $228,397. The total gross income for all buildings sold is $28,321,278.

GRM:

The range of GRM (gross rental multiplier) is between 8.8 and 28.6. The average GRM is 16.4.

Square Footage:

The range of square footage is between 1,900 and 68,575 square feet. The average number of square feet per building is 11,695.64. The total number of square footage sold this year is 1,450,259.

Price/Square Foot:

The range of sales price per square foot is between $138/ft and $635/ft. The average price per foot is $317/ft.

Price/Room:

The range of price for bedroom sold is between $38,281 and $154,545 a bedroom. The average price for a bedroom is $82,617.

Net Income:

The range of net income earned from sold buildings is between $27,464 and $800,021. The average net income earned is $147,335. The total net income earned from all buildings combined is $18,269,592.

Cap Rate:

The range of cap rates for buildings sold is between 1.8 and 6.8. Average cap rate is 4.2.

If you have any questions about the muti-unit/ apartment building market in San Francisco or are thinking about purchasing or selling investment property in San Francisco, please call Oron Maher at (415) 345-3173.

-Oron Maher