| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 45th | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 211 Putnam St, San Francisco, CA, 94110, US |
| Region / Metro | San Francisco |
| Year of Construction | 1996 |
| Units | 46 |
| Transaction Date | 2019-01-25 |
| Transaction Price | $20,500,000 |
| Buyer | MARKET HEIGHTS 2 LP |
| Seller | BOOMERANG HOSUING ASSOCIATES |
211 Putnam St, San Francisco Multifamily Investment
Stabilized neighborhood occupancy and a high-cost ownership market point to resilient renter demand, according to WDSuite’s CRE market data. For investors, the location supports steady leasing while allowing selective value-add plays.
Situated in San Francisco’s Urban Core, the property benefits from neighborhood occupancy around the mid-90s, which is competitive among San Francisco-San Mateo-Redwood City neighborhoods (ranked in the stronger 40% of the metro). This supports leasing stability and reduces downtime risk relative to lower-occupancy submarkets.
Amenity access skews toward essentials: grocery and park access track in top national brackets, while restaurant options are solid but cafes and pharmacies are thinner in the immediate area. For workforce renters, this mix balances daily convenience with reasonable proximity to employment centers.
Tenure patterns show a renter-occupied share at roughly one-third within the neighborhood, indicating meaningful multifamily demand alongside a sizable owner base. Within a 3-mile radius, renter-occupied housing is the majority, expanding the effective tenant pool for a 46-unit asset.
Home values are elevated by national standards and ownership costs are high, which tends to sustain rental demand and support pricing power for well-maintained units. Median rents and incomes in the area suggest rent-to-income levels that help with retention and limit turnover management costs for operators.
Within a 3-mile radius, recent years show modest population growth and an increase in households, with forecasts pointing to smaller average household sizes. For multifamily owners, this shift can translate to a larger renter base, steady absorption, and support for occupancy in professionally managed properties.
Safety indicators for the neighborhood sit below national medians, and the area ranks in the lower half among 193 metro neighborhoods. Even so, recent data show property-related offenses declining year over year, a constructive trend that can aid renter sentiment and leasing consistency over time.
Investors should underwrite to current operating practices—access control, lighting, and tenant screening—to align with area conditions while recognizing the improving momentum in property offense trends.
Proximity to major life sciences, healthcare, and financial services employers anchors consistent renter demand and commute convenience for residents. Nearby employment nodes include Celgene, McKesson (HQ), McKesson Ventures, Pfizer, and Charles Schwab (HQ).
- Celgene — biotech (2.4 miles)
- McKesson — healthcare distribution (3.6 miles) — HQ
- McKesson Ventures — healthcare venture arm (3.6 miles)
- Pfizer — pharmaceuticals (3.8 miles)
- Charles Schwab — financial services (3.9 miles) — HQ
Completed in 1996, the 46-unit asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older vintage buildings while leaving room for targeted modernization to drive rents and retention. Elevated home values in the neighborhood create a high-cost ownership market, reinforcing reliance on multifamily housing and supporting steady leasing for well-operated assets.
Neighborhood occupancy remains competitive for the metro and, based on CRE market data from WDSuite, essential-amenity access and a large regional employment base underpin durable renter demand. Within a 3-mile radius, household counts have increased and are expected to continue rising as average household size trends lower—conditions that can expand the renter pool and support occupancy stability. Operators should still account for safety variation across the area and selective amenity gaps when planning improvements and marketing.
- 1996 vintage offers competitive positioning versus older local stock, with room for value-add upgrades
- High-cost ownership environment supports sustained multifamily demand and pricing power
- Competitive neighborhood occupancy and proximity to major employers aid leasing stability
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: below-national-median safety and some amenity gaps warrant proactive operations and CAPEX planning