The 38-year-old victim was walking in the 400 block of Capp Street shortly after 11 p.m. when two suspects approached him and one pulled out a gun, according to police.
One of the suspects threw the powder into the man's eyes, knocked him to the ground and took his wallet, cellphone and cash, police said.
The suspects ran to a waiting 1990s four-door green vehicle driven by a third man and fled the scene, police said. All were described as in their mid-20s. They had not been found as of this morning.
The victim was taken to St. Luke's Hospital to be treated for his injuries, which are not considered life-threatening.
Anyone with information about the robbery is encouraged to call the Police Department's anonymous tip line at (415) 575-4444 or send a tip via text message to TIP411.