
San Francisco, CA 94131
This Triplex Residential Income property is a High-Potential Investment Opportunity, listed at $2,999,000—positioned well above the $2,588,350 Fair Market Value. While the price reflects a premium, the property features an Excellent Condition Rating following extensive capital improvements, including new roofs and foundation work. With a detached rear house and two remodeled units, it offers a versatile layout for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey asset in Noe Valley. The private, landscaped courtyard and high-end finishes ensure long-term rental demand and lifestyle appeal.
Property is new construction or fully renovated.
The property has undergone significant capital improvements within the last three years, including new roofs, foundation work, and new water heaters. The interiors feature high-end, modern remodels with Viking/Liebherr appliances, quartz waterfall counters, and spa-like bathrooms with contemporary brass fixtures, placing it in mint condition with no maintenance required.
The property features a unique triplex layout consisting of a detached 3-bedroom rear house and a separate 2-unit front building, offering exceptional flexibility for owner-occupiers seeking rental income or multi-generational living.
Significant recent upgrades including foundation work, new roofs, and high-end interior remodels with Viking and Bosch appliances ensure a turnkey experience and reduced immediate maintenance costs.
A rare, professionally landscaped courtyard with stone pavers and privacy screening creates a seamless indoor-outdoor extension of the main living space, a highly desirable asset in this dense urban neighborhood.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2709, other record living area = 2300.
With only one parking space provided for three separate units and a total of seven bedrooms, parking may be a significant constraint for residents and impact the property's competitive edge.
The property includes a tenant-occupied unit at a rate below projected market value, which, combined with San Francisco's strict rent control laws, may limit immediate cash flow optimization for investors.
164-168 28th Street is three units on one lot in the heart of Noe Valley: a two-unit building at the street and a detached house set behind it. All three are move-in ready, with significant capital improvements completed over the past three years. 168, the rear house, is a freestanding three-bedroom, two-bath home with its own private entrance. Ideal for an owner-occupier, or rentable at $10,000+ per month. A wide, sun-filled courtyard sits at the front of the house, finished in large-format stone pavers and framed by fresh landscaping. Bamboo and bird of paradise soften the perimeter, with raised steel and cedar planters and a lattice screen for privacy on all sides. French doors open directly from the living room, making the courtyard a natural extension of the main level. Inside, an uninterrupted living and dining space runs in wide-plank white oak with crown molding and recessed lighting. A built-in wine refrigerator and beverage station tucks into the transition between the two. Off the living room, a full bath brings spa-like calm in soft porcelain and warm brass, with a walk-in shower, floating oak vanity, and a stacked GE washer and dryer alongside. The remodeled kitchen carries the same palette forward: white shaker cabinetry with matte black hardware, waterfall-edge quartz counters, and a full slab backsplash. Professional stainless appliances include a Viking range and hood, a Liebherr refrigerator and a Bosch dishwasher. Under-cabinet and cove lighting wash the counters, and twin pendants mark the peninsula, which offers prep space and casual seating. A door off the kitchen opens to a private side area, convenient for grilling. A stairway with a modern cable rail leads to three well-proportioned bedrooms, two large enough for a king. The second full bath is bright and softly detailed in white tile and warm brass, with a rain shower over a soaking tub and a natural oak vanity. At the street, 164 and 166 are each two bedrooms and one bath, both remodeled in the past few years. The upper unit is rented at $3,498; the lower is projected at $5,000. The two share laundry, and there is one parking space. Capital improvements in the past few years include foundation work on the front building, new roofs on both buildings, fresh exterior paint on both buildings, three new water heaters, and more.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 7.0 | 4.8 |
| Baths | 4.0 | 4.0 |
| Square foot | 2,709 | 3,171.882 |
| Lot Size | 2,850 | 2,678.029 |
| Price | $3.00M | $2.08M |
| Price per sq ft | $1.1K | $709 |
| Built year | 1905 | 1925 |
| HOA | $0 | $0 |
| Days on market | 56 | 66 |
Jul 15, 2026
$2,999,000
Initial Listing
Oct 5, 2023
$1,610,000
Public Record
Dec 30, 2015
$675,000
Public Record
Nov 6, 2015
$1,500,000
Public Record