San Francisco 5+ Unit Apartment Building Market October 2020 Report

The inventory of active listings is up, and the number of sales and the percentage of listings selling are well down since the pandemic struck. Values and value metrics – median sales prices, average dollar per square foot, average cap rate and GRM – remain relatively stable. Unemployment and the “work from anywhere” phenomenon have caused vacancy rates to surge and rent rates to plunge. Tenant-landlord and property showing regulations continue to be extremely restrictive. It is undoubtedly a challenging market, but deals continue to be made.

Median Sales Prices & Avg. Dollar per Square Foot

Supply & Demand 

Trends in Selected Value Metrics

Very small downward adjustments in YTD indicators – in fact, the changes are so small they are probably statistically irrelevant.

Sales Breakdowns by District & Price Segment 

Employment & Rent Rates 

New Housing Construction (All Types) 

Market Share by Broker