July 2023 Multi-Family Market Report for Residential S+ Unit Buildings
5+ unit residential income buildings. Listings and sales reported to NorCal ML5 Alliance. This market consists of a relatively small number of sales, of buildings of widely varying sizes, qualities, and financial characteristics, across a broad range of locations: This makes meaningful statistical analysis more difficult. All numbers should be considered approximate.
San Francisco Apartment Building Market - 5+ Units
Listings Closing Sale in Quarter since 2017
San Francisco Apartment Building Market - 5+ Units
Listings Going into Contract in Quarter since 2018
Average Gross Rent Multiples
San Francisco 5+ Unit Apartment Building Sales
How this analysis applies to any particular property is unknown without a specific comparative market analysis.
Average Cap Rates
San Francisco 5+ Unit Apartment Building Sales
How this analysis applies to any particular property is unknown without a specific comparative market analysis.
Average Price per Unit
San Francisco 5+ Unit Apartment Building Sales
How this analysis applies to any particular property is unknown without a specific comparative market analysis.
San Francisco 5+ Unit Apartment Building Sales
Average Dollar per Square Foot Values
How this analysis applies to any particular property is unknown without a specific comparative market analysis.
Percentage of Listings Accepting Offers in Quarter (Absorption Rate)
San Francisco 5+ Unit, Multi-Family Building Market Dynamics
5+ Unit Multi-Family Building Markets
12 Months Sales by San Francisco Realtor District*
How this analysis applies to any particular property is unknown without a specific comparative market analysis.
Multi-Unit Residential Property Sales, 5+ Units
12 Month Sales by San Francisco Realtor District*
San Francisco 5+ Unit Apartment Building Sales
12 Months Sales by Price Segment*
How this analysis applies to any particular property is unknown without a specific comparative market analysis.
San Francisco Residential Rents - Approximate, Good Faith Estimates*
Average Asking Rent, 1994 - Present, Q1 Data Points (except as noted)
San Francisco County Population Changes
Age Distribution, U.S Census Estimates*
From April 2020 to July 1, 2022, the county's population dropped by an estimated 7.5%. Population changes are driven by domestic and foreign migration trends, and by natural causes (births & deaths).
Weekly Office Attendance: San Francisco, San Jose and Other Selected Metro Areas
San Francisco Housing*
Total Housing Units: 414,581
Occupancy Rate: 85% Vacancies are concentrated in rental units.
Highest % of studio and 1-BR units in Bay Area.
Multi-unit buildings make up 66% of total units- the highest % in the Bay Area- which include condos, co-ops, TICs, rental apartments, university & social housing.
40% of SF housing units are owner-occupied and 60% are tenant occupied: By far the highest tenant ratio in the Bay Area.
San Francisco Unemployment Rates
2019-2023 YTD, per CA Employment Development Department
San Francisco Employment Trends
Number of Employed Residents since 2000
San Francisco Apartment Building Sales
By Broker, 5+ Unit Residential Sales, 2020-2023*
Note that the quantity of sales in any given local submarket is usually relatively small and/or the number of sales that report the necessary financial information can be limited. Buildings of different ages, qualities and sizes selling in different periods can cause these average and median figures to fluctuate significantly. Furthermore, the reliability of some of these calculations depends upon the quality of the Income and expense figures provided by the listing agents, and sometimes instead of actual numbers, much less meaningful projected or scheduled figures are used. Therefore, the above statistics should be considered very general indicators, and how they apply to any particular property without a specific comparative market analysis is unknown.
These analyses were made in good faith with data from sources deemed reliable, but they may contain errors and are subject to revision. Statistics are generalities and all numbers should be considered approximate. Numbers may change with late-reported sales activity.
Compass is a real estate broker licensed by the State of California, DRE 01527235. Equal Housing Opportunity. This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. Compass disclaims any and ail lability relating to this report, including without imitation any express or implied representations or warranties for statements contained in, and omissions from, the report. Nothing contained heroin is intended to be or should be read as any regulatory, legal, fax, accounting or other advice and Compass does not provide such advice. Al opinions are subject to change without notice. Compass makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results.
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