$5,900,000. Premi er San Francisco Triplex Filb ert Stre et. San Francisco, California

Transcription

1 $5,900,000 F O R S A LE Filb ert Stre et San Francisco, California et Premi er San Francisco Triplex

2 DISCLAIMER The information contained herein has either been given to the Mahoney & Associates by the owner of the herein described real property or obtained from sources we consider reliable; however, we do not represent that it is accurate or complete, and it should not be relied upon as such. You should consult with your legal counsel with respect to the legal issues regarding this property, and with your tax advisor with respect to the tax issues and assumptions regarding this property as used herein or otherwise. The value of this property is dependent on numerous factors including, but not limited to, present and future rent, expenses, governmental regulations, and general economic conditions. The vacancy factor and expenses used herein are arbitrary, and are not necessarily related to actual or future vacancies or expenses, and may change without notice. A prospective buyer should carefully verify and evaluate information contained herein including, but not limited to, zoning, allowed uses, environmental restrictions, acreage, required permits, and/or approvals from governmental agencies, and the condition of the property and any buildings or structures located on the property. All of the information contained herein, including any quoted pricing, is subject to change without notice.

3 TABLE OF CONTENTS PROPERTY OVERVIEW... Page 4 FINANCIAL OVERVIEW... Page A Photos... Page 7 Floorplan... Page Photos... Page 14 Floorplan... Page 17 MAP SF Neighborhoods... Page 18

4 PROPERTY OVERVIEW & 1750A Filbert Street San Francisco CA Building 1 (In rear of property): 1748 Filbert Street +/- 1,355 SF 3 Bedroom / 1 Bath Updated Kitchen & Bath Built in 1908, Remodeled in Filbert Street +/- 1,165 SF 2 Bedroom / 1 Bath Updated Kitchen & Bath Built in 1908, Remodeled in 2010 Building 2 (Fronting Filbert) 1750A Filbert Street +/- 3,390 SF 4 Bedroom / 3.5 Bath Roof Deck 3 Car Garage New Construction (Ground Up) in 2010 High-End Finishes NOT Subject to Rent Control Property Summary: Livable Area: ±5,910 SF Garage / Hallway: ±1,317 SF Storage: ±890 SF Parcel Number: Land Area: 4,125 SF Zoning: RH - 3 Financial Summary: Building 2 Price: $5,900,000 Net Income: $217,234 Cap Rate: 3.68% Market Cap Rate: 4.58% Gross Rent Multiplier: Price Per Square Foot: $ Building 1

5 PROPERTY OVERVIEW Mahoney and Associates is pleased to offer for sale & 1750A Filbert Street, San Francisco, located in the coveted Cow Hollow neighborhood. This three-unit leased investment property is one block from Union Street, three blocks from Lombard Street, and surrounded by some of the best restaurants and shops. The property consists of two separate buildings: Filbert (Building 1) and 1750A Filbert (Building 2). 1750A Filbert was built from the ground up in The foundation was enhanced with new piers that are up to 41.5 feet below ground, and tied together with steel beams and frames at grade. The facade reflects a modern San Francisco design. The ground floor of the building is comprised of a three car garage, a large bedroom and full bath, and an outdoor patio area. A beautiful staircase with custom metal railings guides one to the second floor, which consists of an open floor plan concept for the kitchen and living room. Also on the second floor is a half bath, laundry room and deck. The kitchen is furnished with custom cabinets and Thermador appliances. On the third floor are two bedrooms, a full bathroom, master bathroom, master bedroom and a his/hers walk-in closet. The stairwell continues to the roof of the building for access to the roof deck. The building has hardwood flooring throughout and tile in the bathrooms. There is a fireplace in the living area and one in the master bedroom. 1750A is not subject to rent control Filbert both received kitchen/bath remodels in 2010, as well as upgraded electrical wiring, sewer lines, and new roof Filbert is a two-bedroom, one bath unit that measures approximately 1,165 SF. The current Tenants executed a Lease and moved in on May 5, This space falls under rent control guidelines Filbert is a three-bedroom, one bath unit measuring approximately 1,355 SF. The current Tenant executed a Lease on February 2, This space falls under rent control guidelines. The ground floor level of the building consists of a 360 SF storage space and a 530 SF storage space. The 360 SF storage space is currently being used by one of the Tenants and is included in their rent. The 530 SF storage space is currently vacant.

6 FINANCIAL OVERVIEW 1748, 1750, 1750A Filbert Street Financial Analysis and Rent Roll Income Approximate SF Current Market Security Deposit Lease Expiration Rent Control Unit Monthly Yearly Monthly Yearly 1750A 3,390 $17,000 $204,000 $17,500 $210,000 $18,000 May 6, 2017 No 1748 Filbert 1,355 $3,859 $46,308 $5,950 $71,400 $5,475 Month to Month Yes 1750 Filbert 1,165 $5,295 $63,540 $5,400 $64,800 $7,950 May 15, 2017 Yes Garage/Hallway 1,317 Storage 890 $1,780 $21,360 Vacancy Loss (2%) -$523 -$6,277 -$577 -$6,924 Total Revenue $25,631 $307,571 $30,053 $360,636 Expenses Water $172 $2,064 $172 $2,064 Garbage $103 $1,233 $103 $1,233 Electric PG&E Prop/Liab Insurance Property Tax (1.183%) Legal/Professional Repairs/Improvements Tenant Tenant Tenant Tenant $379 $4,543 $379 $4,543 $5,816 $69,797 $5,816 $69,797 $283 $3,400 $283 $3,400 $775 $9,300 $775 $9,300 Total Operating Expenses Net Income -$7,528 -$90,337 -$7,528 -$90,337 $18,103 $217,234 $22,525 $270,299 Current Market Cap Rate 3.68% 4.58% Property Value $5,900,000 Living Area 5,910 Garage/Hallway 1,317 Storage 890 Price Per Square Foot $998.31

7 PROPERTY PHOTOS: 1750 #A

8 PROPERTY PHOTOS: 1750 #A

9 PROPERTY PHOTOS: 1750 #A

10 PROPERTY PHOTOS: 1750 #A

11 PROPERTY PHOTOS: 1750 #A

12 FLOORPLAN: 1750 #A BEDROOM #3

13 FLOORPLAN: 1750 #A BUILDING 1 BUILDING 2

14 PROPERTY PHOTOS:

15 PROPERTY PHOTOS:

16 PROPERTY PHOTOS:

17 FLOORPLAN: #1750 Filbert St #1748 Filbert St #1750 #1748 #1750 #1748 #1748

18 MAP: SF NEIGHBORHOODS MISSION DISTRICT RUSSIAN HILL COW HOLLOW