San Francisco multifamily questions, answered
How do I find a good multifamily real estate agent in San Francisco?
Look for someone who works mainly on apartment and mixed-use buildings, can show recent SF multifamily deals, and underwrites with rent rolls and SF-specific comps rather than residential pricing. Ask how they handle rent-controlled units and how they reach buyers beyond the MLS.
How are San Francisco apartment buildings valued?
Mostly on income. Buyers look at cap rate, gross rent multiplier, price per unit, and price per square foot, then adjust for how far current rents sit below market, vacant units, deferred maintenance, and any potential to add units.
What is a typical cap rate for San Francisco multifamily?
In Q3 2026, San Francisco multifamily sales averaged about a 4.8% cap rate, and cap rates have been compressing for two quarters. Buildings with 2 to 4 units and those with large rent upside often trade at lower cap rates, and averages vary by building size and buyer type, so the number for your building should come from comparable sales. See the market report for the latest numbers.
Does rent control apply to my building?
In general, units in San Francisco residential buildings built on or before June 13, 1979 are subject to the city's rent increase limits, while newer buildings and certain single-family homes and condos are exempt from price limits under state law. Eviction protections can apply even where price limits don't. Check with the SF Rent Board or an attorney for your specific building.
How does rent control affect my building's value?
The gap between in-place rents and market rents is often the biggest factor in price. Buyers pay more for vacant units, units near market rent, and buildings where tenant turnover is likely. I price buildings unit by unit for this reason.
Can I do a 1031 exchange into a San Francisco building?
Yes. A 1031 exchange lets you defer capital gains tax by reinvesting sale proceeds into another investment property. You have 45 days from your sale to identify replacement properties and 180 days to close, and you need a qualified intermediary. Talk to your tax advisor before you sell.
Should I sell my building on or off market?
Off market can mean privacy and a quieter process, and often works when there is an obvious buyer, like a neighboring owner. A full market launch usually creates more competition. I'll walk through both with your goals and timeline.
What does it cost to work with you?
Buyers typically pay nothing directly, as compensation is usually negotiated with the seller. For sellers, commission is agreed on upfront in the listing agreement. Valuations and consultations are free.
What areas do you cover?
All of San Francisco and the wider Bay Area, including the Peninsula and San Mateo.
Have a question that is not here?
Email or call and I'll walk through your building and your goals.