| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 71st | Fair |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38 Harriet St, San Francisco, CA, 94103, US |
| Region / Metro | San Francisco |
| Year of Construction | 2013 |
| Units | 23 |
| Transaction Date | 2013-07-01 |
| Transaction Price | $7,500,000 |
| Buyer | James Yen |
| Seller | Panoramic Interests |
38 Harriet St San Francisco Multifamily Investment
This 2013-built 23-unit property sits in a neighborhood ranking in the top quartile nationally for amenities and net operating income per unit. Neighborhood-level occupancy trends show 82% occupancy amid strong renter demand from high-income households.
This Urban Core neighborhood ranks 31st among 193 San Francisco metro neighborhoods with an A- rating, reflecting strong fundamentals for multifamily investors. The area demonstrates exceptional amenity density, ranking in the 97th percentile nationally with 85.8 restaurants per square mile, 11.7 grocery stores per square mile, and 6.5 parks per square mile. This high-amenity environment supports tenant retention and lease-up velocity in competitive rental markets.
Demographic data aggregated within a 3-mile radius shows a wealthy, educated tenant base with median household income of $158,127 and 36% of residents holding bachelor's degrees. The area maintains 73% renter-occupied housing units, indicating strong structural rental demand. Forecasted growth shows household income rising to $190,730 by 2028, supporting rent growth potential and tenant stability.
The neighborhood reports median contract rents of $2,645 with 11.4% growth over five years, while net operating income per unit averages $19,027 - ranking 25th of 193 metro neighborhoods. Current neighborhood-level occupancy sits at 82.1%, reflecting market dynamics that require active leasing management. The 2013 construction year aligns with newer building stock, reducing near-term capital expenditure needs compared to the neighborhood's 1982 average construction year.
Crime metrics show this neighborhood ranking 189th of 193 San Francisco metro neighborhoods for overall crime, placing it in the bottom quintile locally and 20th percentile nationally. Property offense rates are elevated at 14,242 incidents per 100,000 residents annually, while violent crime rates reach 4,039 per 100,000 residents. These metrics require consideration in tenant screening, security measures, and insurance planning.
Crime trends show property offenses increasing 9.7% year-over-year, while violent crime rose 1.5%. Investors should factor security considerations into operating budgets and evaluate tenant retention patterns in relation to neighborhood safety perceptions. The urban core location provides proximity to employment and amenities while requiring proactive property management approaches.
The property benefits from proximity to major corporate headquarters and offices within walking distance, supporting workforce housing demand from high-income professionals.
- McKesson — healthcare services (0.7 miles) — HQ
- Celgene — pharmaceutical offices (0.9 miles)
- Pfizer — pharmaceutical offices (0.9 miles)
- Wells Fargo — financial services (1.1 miles) — HQ
- PG&E Corp. — utilities (1.1 miles) — HQ
The 38 Harriet Street property presents a compelling urban core investment with strong locational fundamentals supported by exceptional amenity access and proximity to major employers. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile nationally for net operating income per unit at $19,027, reflecting the area's ability to command premium rents from high-income tenants. The 2013 construction year positions this asset with reduced near-term capital expenditure needs while demographic projections show household income growth to $190,730 by 2028, supporting long-term rent growth potential.
The investment case centers on a wealthy, educated tenant base with median household incomes of $158,127 and strong rental demand from 73% renter-occupied housing units. Neighborhood-level fundamentals show rent growth of 11.4% over five years, though current 82% occupancy requires active leasing management. The urban location provides workforce housing for nearby corporate headquarters including McKesson, Wells Fargo, and PG&E Corp, while exceptional amenity density supports tenant retention in this competitive market.
- Top quartile NOI performance among 193 metro neighborhoods at $19,027 per unit
- High-income tenant base with $158,127 median household income and projected growth
- Proximity to major corporate headquarters supporting workforce housing demand
- 2013 construction reduces near-term capital expenditure requirements
- Risk consideration: 82% neighborhood occupancy requires active leasing management and crime metrics warrant security planning