San Francisco by the Bay II — Rental Market Data

San Francisco by the Bay II has two active listings as of August 31, 2026, with asking rents ranging from $2,750 to $2,790 per month, an average of $2,770, and a median of $2,770. The average suite size is 900 square feet at an asking rate of $3.09 per square foot, and both available units are two-bedroom layouts representing 100 percent of current inventory. The active mix leans toward mid-range two-bedroom family suites rather than compact entry-level one-bedrooms or larger executive three-bedroom configurations.

The dominant active layout at San Francisco by the Bay II is the two-bedroom, with two units representing 100 percent of available inventory. Both two-bedroom listings average $2,770 per month across 900 square feet at $3.09 per square foot, and no one-bedroom or three-bedroom units are currently on the market. This small selection of two units limits layout diversity for renters seeking alternatives within the building.

San Francisco by the Bay II's active asking rents span from $2,750 to $2,790 per month, a dollar spread of $40 and a percentage spread of 1.5 percent, with a median asking rent of $2,770. The entry-level listing is a two-bedroom at 950 square feet priced at $2.89 per square foot, while the peak asking unit is also a two-bedroom but at a more compact 850 square feet carrying a higher rate of $3.28 per square foot. The narrow spread reflects a small, like-for-like inventory where suite size differences of roughly 100 square feet drive the modest price differential.

San Francisco by the Bay II does not have quantified den premiums or square-footage deltas for its active listings, as no paired den versus non-den comparison is available in the current sample. Parking stall costs also cannot be reliably isolated from the available data, and no verified monthly parking fee can be quoted for prospective tenants. Renters should request current parking and den pricing directly from the leasing office to confirm any applicable add-on charges.

San Francisco by the Bay II's active asking average of $2,770 per month exceeds the Pickering submarket asking benchmark of $2,542 per month, yet the building's rate of $3.09 per square foot is 13.7 percent below the submarket asking rate of $3.58 per square foot. The higher nominal rent is driven by the building's 900-square-foot average suite size, which is 190 square feet larger than the submarket implied average of 710 square feet, meaning renters are paying more in total but less per unit of space. San Francisco by the Bay II accounts for 2 out of 23 available listings in the Pickering submarket, representing roughly 8.7 percent of total active inventory.

San Francisco by the Bay II's all-time average realized lease rent of $2,409 per month exceeds the four-comp blended benchmark of $2,331 per month, with the primary drivers being its larger suite footprints rather than a wholesale rate premium. San Francisco by the Bay at 1235 Bayly St (0.07 km, 8 closed leases) averages $2,497 per month at $3.46 per square foot over 733 square feet, meaning the subject trades at a lower monthly rent of $88 below that peer. SF3 – San Francisco by the Bay 3 at 1245-1255 Bayly St (0.18 km, 8 closed leases) averages $2,378 per month at $3.26 per square foot over 744 square feet, placing the subject $31 higher in nominal rent. Universal City Tower 3 at 1435 Celebration Dr (1.05 km, 39 closed leases) averages $2,209 per month at $3.31 per square foot over 676 square feet, with the subject commanding a $200 higher monthly figure. Universal City Two at 1455 Celebration Dr (1.05 km, 25 closed leases) averages $2,241 per month at $3.53 per square foot over 654 square feet, where the subject's rent runs $168 higher. All four competitors recorded active lease transactions, so each provides a realized pricing benchmark rather than a reference-only data point.

San Francisco by the Bay II leases at $3.35 per square foot over an average 751-square-foot suite, trading at a slight discount to the four-comp blended rate of $3.39 per square foot while delivering materially more interior space than every nearby alternative. Against San Francisco by the Bay (0.07 km), the subject trades at a $0.11 per square foot discount—3.2% below the comp's $3.46 rate—yet provides 18 more square feet, so the lower nominal rent of $88 reflects both a modest rate concession and a larger footprint rather than a weaker asset valuation. Versus SF3 – San Francisco by the Bay 3 (0.18 km), the subject commands a $0.09 per square foot premium (2.8% above the comp's $3.26) while still offering 7 additional square feet, producing a $31 higher monthly rent that is rate-driven rather than size-driven. Against Universal City Tower 3 (1.05 km), the subject carries a $0.04 per square foot premium (1.2% over the comp's $3.31) and 75 more square feet, so the $200 higher rent is predominantly a footprint effect. With Universal City Two (1.05 km), the subject trades at a $0.18 per square foot discount—5.1% below the comp's $3.53 rate—yet provides 97 more square feet, meaning the $168 higher nominal rent is entirely a function of the expanded interior rather than a per-unit valuation advantage.

San Francisco by the Bay II offers a 14-item amenity suite anchored by an indoor pool, media and theatre room, and shared laundry facilities, giving it a distinct wellness-and-entertainment profile that differentiates it from three of its four immediate competitors. The indoor pool is the building's most notable signature: San Francisco by the Bay (0.07 km) also features an indoor pool, but SF3 – San Francisco by the Bay 3, Universal City Tower 3, and Universal City Two all substitute outdoor pools, making the subject's year-round aquatic offering a genuine seasonal advantage in Pickering's climate. The media and theatre room appears at SF3 but is absent from both Universal City towers, while the shared laundry room is unique to the subject across the entire comp set. Conversely, Universal City Two differentiates with a business centre, tech lounge, cabanas, and a branded piazza, and Universal City Tower 3 adds a pet wash station—features the subject does not carry. The subject's package, combining indoor aquatic recreation, a dedicated yoga studio, sauna and steam room, games and billiards, and a rooftop terrace, best serves the 25-to-45 professional renter who prioritizes year-round wellness programming and in-building social space over outdoor resort-style amenities or co-working infrastructure.