The city of San Francisco, located in the north region of California, is a densely populated U.S. city, second only to New York. San Francisco is the base for operations for several well establish firms, including Twitter, Dropbox, Gap Inc., and Wells Fargo to mention a few. Real estate markets in the area have historically performed extremely well.
The metro area GDP has grown from $239 billion to $347 billion from 2001 -2011 correspondingly  and recorded approximately $388 billion in 2013  which ranks the San Francisco metro as number seven in terms of nominal GDP in the United States. Capital appreciation rates for multifamily properties increased by 100%+ for Eastern areas of the city followed by the North, Mission and Tender areas, with appreciation rates of approximately 60% during 2011 – 2013 .
 1st Quarter 2014 TRI Commercial. San Francisco Multifamily Property Trends.