Condo/SFH vs MFH is a continuum. You turn the knob to the left you get more appreciation less cashflow. You turn it to the right you get less appreciation more cashflow.
You can’t have something that’s better on both measures. If that’s the case everybody will be buying that, so it will inflate the price and depress return. Efficient market theory.
@hanera has been saying SV rent is flat for the last 2 years. MFH value is based on rent alone. It can’t be appreciating in the last 2 years, while SFH and condos have been surging ahead still. I don’t monitor MFH’s in SV but I do pay some attention to ones in SF. In SF many if not most have to drop their asking price.