SF3 - San Francisco by the Bay 3 — Rental Market Data

SF3 – San Francisco by the Bay 3 has four active listings as of August 31, 2026, with asking rents ranging from $2,150 to $2,650 per month, an average of $2,463, and a median of $2,525. The average active suite measures 725 square feet at an asking rate of $3.44 per square foot. Inventory splits evenly between one-bedroom-plus-den layouts and two-bedroom units, placing the current mix squarely in the mid-range rather than skewing toward compact entry-level studios or large executive multi-bedroom plans.

The dominant active layout at SF3 – San Francisco by the Bay 3 is the one-bedroom-plus-den, with two units representing 50 percent of available inventory at an average asking rent of $2,275 per month across 625 square feet and a rate of $3.67 per square foot. The two-bedroom tier mirrors that share with two units at an average of $2,650 per month over 825 square feet, equating to $3.22 per square foot. Both tiers constitute a small selection, so renters should act promptly if a specific floor plan matches their needs.

SF3 – San Francisco by the Bay 3 currently lists units from $2,150 to $2,650 per month, a $500 spread representing 23.3 percent of the entry price. The median asking rent sits at $2,525 per month. The entry-level suite is a one-bedroom-plus-den at 550 square feet and $3.91 per square foot, while the peak listing is a two-bedroom at 850 square feet and $3.12 per square foot, illustrating how the larger footprint dilutes the per-square-foot rate despite the higher nominal rent.

SF3 – San Francisco by the Bay 3 does not have a quantified den premium in active listings, as the den square-footage delta and marginal cost per square foot are unrecorded for the current inventory. Verified parking stalls carry a confirmed add-on of $250 per month, giving renters a clear figure to budget when selecting a unit with a dedicated spot.

SF3 – San Francisco by the Bay 3 asks an average of $2,463 per month at $3.44 per square foot, compared to the Pickering submarket asking benchmark of $2,542 per month and $3.58 per square foot. The building's per-square-foot rate runs 3.9 percent below the submarket asking level, and the slightly lower nominal rent is consistent with the 725-square-foot average active suite being marginally more compact than the submarket norm. The building accounts for four out of 23 available listings in the Pickering submarket, representing roughly 17 percent of current rental inventory in the area.

SF3 – San Francisco by the Bay 3 closed leases at an average of $2,346 per month, matching the overall four-comp benchmark of $2,346 exactly. Against San Francisco by the Bay (1235 Bayly St, 0.14 km, 8 closed leases, $2,497 average rent, $3.46 per square foot, 733 sq ft), the subject trades at a $151-per-month lower rent. San Francisco by the Bay II (1215 Bayly St, 0.18 km, 12 closed leases, $2,438 average rent, $3.31 per square foot, 767 sq ft) shows the subject at $92 per month lower. Universal City Tower 3 (1435 Celebration Dr, 0.87 km, 39 closed leases, $2,209 average rent, $3.31 per square foot, 676 sq ft) places the subject $137 per month higher, and Universal City Two (1455 Celebration Dr, 0.87 km, 25 closed leases, $2,241 average rent, $3.53 per square foot, 654 sq ft) puts the subject $105 per month higher. All four competitors recorded active closed-lease volume, so no zero-transaction reference buildings factor into this spread.

SF3 – San Francisco by the Bay 3 leases at $3.26 per square foot for an average 736-square-foot suite, positioning it below the $3.40 comp-average rate and above the 708-square-foot comp-average footprint. Versus San Francisco by the Bay (2012), the subject trades at a $0.20-per-square-foot (5.8%) discount while providing 3 more interior square feet, meaning the lower nominal rent of $151 reflects both a smaller per-sq-ft rate and a marginally larger unit. Against San Francisco by the Bay II (2017), the subject offers a $0.05-per-square-foot (1.5%) discount but provides 31 fewer interior square feet, so the $92 lower monthly rent is partly a function of the reduced interior footprint rather than a pure rate concession. Universal City Tower 3 (2025) shows the subject at a $0.05-per-square-foot (1.5%) discount yet 60 more square feet, driving the $137 higher nominal rent through sheer footprint scale rather than a per-sq-ft premium. Universal City Two (2024) widens that gap: the subject trades at a $0.27-per-square-foot (7.6%) discount while delivering 82 more interior square feet, explaining the $105 higher monthly rent as a space-driven differential, not a valuation premium.

SF3 – San Francisco by the Bay 3 fields a twelve-item amenity suite anchored by an outdoor pool, rooftop terrace with fire pits, and a media and theatre room, setting it apart from the indoor-pool configuration at both Bayly Street neighbours. San Francisco by the Bay and San Francisco by the Bay II each offer an indoor pool, a yoga studio, and a games and billiards room—three features the subject does not carry—while the subject counters with an outdoor pool and fire pits that neither Bayly Street building provides. Universal City Tower 3 and Universal City Two also feature outdoor pools and fire pits, but they add a pet wash station, a business centre or tech lounge, cabanas, and a games room that the subject lacks; in return, SF3 – San Francisco by the Bay 3 includes a dedicated media and theatre room absent from both Celebration Drive towers. The building's lifestyle package—outdoor aquatic recreation, open-air social gathering around fire pits, and a private screening space—best serves young professionals and small families who prioritise outdoor leisure and communal entertainment over indoor wellness studios or pet-specific facilities.