# House Hacking in San Francisco (94118): 3333 California plus Geary BRT, at a $2M basis · The Rent Hacker > San Francisco 94118 for house hackers: A large in-ZIP redevelopment, Geary BRT, and two institutional anchors (UCSF Parnassus and USF): multiple converging ca Canonical: https://therenthacker.com/house-hacking/sf-inner-richmond-94118/ Source: The Rent Hacker (https://therenthacker.com/). License: RSL, attribution required — https://therenthacker.com/license.xml --- [San Francisco guide](/house-hacking/san-francisco/) · Tier A · Rank #9 of 27 # House hacking in San Francisco (Inner Richmond / Laurel Heights / Presidio Heights). A large in-ZIP redevelopment, Geary BRT, and two institutional anchors (UCSF Parnassus and USF): multiple converging catalysts, discounted from an S signal because the flagship project sits in early permitting and FZP corridor reach is unconfirmed. **Status check:** Verified 2026-07-14: 3333 California Phase 1 permits are filed (152 units), with vertical construction expected late 2026. ## What's actually happening in 94118 - Early permitting 3333 California St (the former UCSF Laurel Heights campus): 558–744 units across 13 buildings (4–6 stories) plus retail, childcare, and 2+ acres of open space; first-phase Presidio Highlands (152 units) permits filed, with Planning Commission hearings July 2026. [SF Planning 3333 California](https://sfplanning.org/3333cal) - In design Geary Boulevard Improvement Project Phase 2: ~$48M, in design; red lanes and signal priority on the 38/38R through the ZIP. [SFMTA Geary Boulevard Improvement Project](https://www.sfmta.com/projects/geary-boulevard-improvement-project) - Existing anchors UCSF Parnassus $4.3B about a mile south, plus USF at the Laurel Heights edge: two institutional anchors within a mile. SF Planning UCSF Parnassus MOU - Adopted; parcel reach WARN The Family Zoning Plan upzones Geary Blvd to ~85 ft generally, reportedly up to 20 stories at some intersections and 40 stories at Geary & Masonic (the 94118/94117 edge); parcel-level reach is unconfirmed. [SF Planning Family Zoning Plan](https://sfplanning.org/sf-family-zoning-plan) ## The numbers Median price $2,014,000 (Redfin/ATTOM, May 2026), the highest of the A tier Market rent ~$4,300/mo (Zumper) Property tax (San Francisco County) 1.183% combined effective (SF Treasurer FY2025-26, consolidated city and county); new buyers pay about 1.183% of purchase price in year one, then assessed value rises at the 2%/yr Prop 13 cap until resale Per-bed rent band $1,500–2,000/mo per room ADU rent band $2,800–3,500/mo (ADU or in-law) Whole-home rent band $5,800–7,500/mo whole-home Underwriting vacancy 3.0–3.5% underwriting vacancy (UCSF/USF demand) Appreciation scenarios 3 / 4 / 6 %/yr (conservative / base / upside) High basis is the constraint. Appreciation basis: 3333 California entitling and building is the base; upside if the Geary/Masonic FZP high-rise confirms. Rent bands are city-level medians; confirm the specific parcel before trusting any of them. [Run your own scenario in the calculator](/calculator/). ## Buildings we underwrote in 94118 37 buildings in 94118 carry a record. 0 beat renting and index funds; the rest did not. Every row links to its own page, with the numbers it was scored on. Property At our defaults Status [753 Spruce St](/property/rh-ib1ur0/753-spruce-st/) 1 unit · $998,000 −$378,176 S&P 500 Underwritten — the index wins at our defaults [751 Spruce St](/property/rh-1ev6xw/751-spruce-st/) 1 unit · $1,495,000 −$962,519 S&P 500 Underwritten — the index wins at our defaults [724 8th Ave](/property/rh-mxak5g/724-8th-ave/) 2 units · $1,998,000 −$1,180,403 S&P 500 Underwritten — the index wins at our defaults [1124 Balboa St](/property/rh-qvsbcn/1124-balboa-st/) 2 units · $3,200,000 −$2,663,537 S&P 500 Underwritten — the index wins at our defaults [4135 California St, Unit 4](/property/rh-rcrwfv/4135-california-st-unit-4/) 1 unit · $2,995,000 −$3,147,931 S&P 500 Underwritten — the index wins at our defaults [635-637 Spruce St](/property/rh-d9euzq/635-637-spruce-st/) 3 units · $1,665,000 −$401,011 S&P 500 Underwritten — the index wins at our defaults [501 Arguello Blvd, Apt 301](/property/rh-su0blj/501-arguello-blvd-apt-301/) 1 unit · $898,000 −$709,137 S&P 500 Underwritten — the index wins at our defaults [847 Arguello Blvd, Apt 1](/property/rh-te5cnb/847-arguello-blvd-apt-1/) 1 unit · $998,000 −$744,242 S&P 500 Underwritten — the index wins at our defaults [508 Cabrillo St](/property/rh-8180re/508-cabrillo-st/) 4 units · $1,980,000 −$745,220 S&P 500 Underwritten — the index wins at our defaults [710-712 9th Ave](/property/rh-089gh4/710-712-9th-ave/) 2 units · $1,799,000 −$792,768 S&P 500 Underwritten — the index wins at our defaults [109-111 Masonic Ave](/property/rh-g7ws82/109-111-masonic-ave/) 2 units · $1,695,000 −$824,153 S&P 500 Underwritten — the index wins at our defaults [235-237 7th Ave](/property/rh-4cwfqa/235-237-7th-ave/) 2 units · $1,695,000 −$824,153 S&P 500 Underwritten — the index wins at our defaults [3826-3828 Fulton St](/property/rh-e9mu0y/3826-3828-fulton-st/) 2 units · $1,699,000 −$828,856 S&P 500 Underwritten — the index wins at our defaults [800 Arguello Blvd](/property/rh-ih4581/800-arguello-blvd/) 1 unit · $1,198,000 −$830,765 S&P 500 Underwritten — the index wins at our defaults [109 Masonic Ave](/property/rh-4whg4v/109-masonic-ave/) 2 units · $1,695,000 −$837,360 S&P 500 Underwritten — the index wins at our defaults [516-520 Anza St](/property/rh-w47e6g/516-520-anza-st/) 2 units · $1,650,000 −$902,088 S&P 500 Underwritten — the index wins at our defaults [612-614 Balboa St](/property/rh-w5htcu/612-614-balboa-st/) 2 units · $1,589,000 −$1,008,561 S&P 500 Underwritten — the index wins at our defaults [2001 Mcallister St, Apt 112](/property/rh-k5upgr/2001-mcallister-st-apt-112/) 1 unit · $1,125,000 −$1,029,272 S&P 500 Underwritten — the index wins at our defaults [2427 Turk Blvd](/property/rh-oye5y9/2427-turk-blvd/) 4 units · $1,998,700 −$1,037,601 S&P 500 Underwritten — the index wins at our defaults [1358 Clement St](/property/rh-atlfqz/1358-clement-st/) 3 units · $1,828,000 −$1,044,388 S&P 500 Underwritten — the index wins at our defaults [200 4th Ave](/property/rh-ut2xl1/200-4th-ave/) 1 unit · $1,395,000 −$1,056,043 S&P 500 Underwritten — the index wins at our defaults [184 5th Ave](/property/rh-uryu0x/184-5th-ave/) 1 unit · $1,400,000 −$1,159,343 S&P 500 Underwritten — the index wins at our defaults [558-560 Balboa St](/property/rh-l7uk5i/558-560-balboa-st/) 2 units · $1,925,000 −$1,192,008 S&P 500 Underwritten — the index wins at our defaults [3946 California St](/property/rh-woew64/3946-california-st/) 2 units · $1,988,000 −$1,238,540 S&P 500 Underwritten — the index wins at our defaults [357-359 Arguello Blvd](/property/rh-btd0ji/357-359-arguello-blvd/) 2 units · $1,795,000 −$1,271,962 S&P 500 Underwritten — the index wins at our defaults [3124-3126 Turk Blvd](/property/rh-ullpuj/3124-3126-turk-blvd/) 2 units · $2,195,000 −$1,402,378 S&P 500 Underwritten — the index wins at our defaults [204 4th Ave](/property/rh-jwvf9w/204-4th-ave/) 2 units · $2,115,000 −$1,509,976 S&P 500 Underwritten — the index wins at our defaults [1545-1547 Balboa St](/property/rh-ruh5ea/1545-1547-balboa-st/) 2 units · $1,950,000 −$1,531,700 S&P 500 Underwritten — the index wins at our defaults [83-85 Stanyan St](/property/rh-mt6iot/83-85-stanyan-st/) 2 units · $1,997,000 −$1,689,587 S&P 500 Underwritten — the index wins at our defaults [4918 California St](/property/rh-jryqi1/4918-california-st/) 2 units · $2,295,000 −$1,693,444 S&P 500 Underwritten — the index wins at our defaults [414 12th Ave](/property/rh-4jdnz8/414-12th-ave/) 2 units · $2,495,000 −$1,777,954 S&P 500 Underwritten — the index wins at our defaults [2920 Turk Blvd](/property/rh-4qm5la/2920-turk-blvd/) 1 unit · $2,195,000 −$1,836,561 S&P 500 Underwritten — the index wins at our defaults [40 Annapolis Ter](/property/rh-d3ne9a/40-annapolis-ter/) 1 unit · $2,395,000 −$2,071,708 S&P 500 Underwritten — the index wins at our defaults [2235-2237 Turk Blvd](/property/rh-3v38ij/2235-2237-turk-blvd/) 2 units · $2,695,000 −$2,126,946 S&P 500 Underwritten — the index wins at our defaults [3461-3463 Sacramento St](/property/rh-bfrr3w/3461-3463-sacramento-st/) 2 units · $3,998,000 −$3,388,174 S&P 500 Underwritten — the index wins at our defaults [645 Clement St](/property/rh-pl0r3j/645-clement-st/) 2 units · $4,200,000 −$3,657,577 S&P 500 Underwritten — the index wins at our defaults [176-178 Parker Ave](/property/rh-3bi98u/176-178-parker-ave/) 2 units · $4,490,000 −$3,912,281 S&P 500 Underwritten — the index wins at our defaults The full [board](/board/) shows every region's current week; this table is every record we hold for 94118, newest basis first. ## The house-hack angle Large Richmond flats (2–4 units) and houses-over-garages; a UCSF, USF, and Geary-commuter tenant pool; 3333 California adds amenity and population. ## What breaks it - A $2M+ entry compresses house-hack DSCR: model conservatively - 3333 California is pre-construction (July 2026 hearings); capital has yet to land on the ground - FZP heights are unconfirmed (WARN), and all-bus transit runs 25–30 minutes to downtown This page is the standing analysis. The weekly part, actual San Francisco-area listings that pass the math, lands on the San Francisco board every Tuesday. [This week's San Francisco board](/board/sf-proper/) Have a specific address? [Look up any San Francisco building](/lookup/) — free parcel facts, and Underwrite an address — $79 for the full one. Want this analysis for a specific building? Any San Francisco address, underwritten the same way: cautious rents, the registry, the S&P line. [Look up any San Francisco address →](/lookup/) A full report for an address you pick: Underwrite an address — $79, delivered within one business day. [This week's San Francisco board](/board/sf-proper/) · [Read past San Francisco issues](/issues/sf-proper/) · [Every pick, on the record](/track-record/) · [How a deal becomes a pick](/methodology/) Data synthesized 2026-07-06, catalysts re-verified 2026-07-14. Mortgage-rate basis: 6.43% (Freddie Mac PMMS, a seven-week low; 6.67% a year ago). Sources are the public planning documents and market listings named above, fetched on the synthesis date. Nothing here is investment advice; every deal needs a bindable insurance quote and parcel-level verification.