OFFERED FOR SALE NOB HILL 9 APARTMENT UNITS

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1 940 JONES STREET SAN FRANCISCO, CA

2 This beautifully and extensively renovated 9 unit apartment building is located in one of the consistently hottest rental neighborhoods of San Francisco. Constructed in 1915, it includes 6 large two bedrooms, 1 one bedroom with a serene private yard and 1 studio apartment plus a ground level office. Significant interior and exterior upgrades completed in the last three years, including but not limited to, soft story upgrades, new modern heating, new double paned windows, new paint and interior design. The building has a very charming lobby. Each unit has City views and ample natural light. They are large with good floor plans, clean spacious kitchens, bedrooms, living rooms and closet space. They boast beautiful architectural details with high ceilings. Seven of the units have been fantastically renovated with all new high quality kitchen appliances, counter tops, cabinets and backsplash, new baths (including new fixtures, tile and floors) and new hardwood floors. All the renovated units have dishwashers. No expense was spared in the remodel. The units are separately metered for gas and electric and have gas stoves (except the studio has an electric stove). There is a laundry room with seller owned, coin-operated washer and dryer. New efficient hydronic heat with modern controls is pro- 940 Jones Street (Between Pine and Bush) vided by the building owner. The hot water heater is part of the new hydronic system, making expenses for the building very low. The common area halls and lobby were recently painted and new carpet and OFFERED AT light fixtures were recently installed. The building exterior was also painted in Much of the plumbing (both supply and drain lines) has been recently replaced with copper piping. The electric service to $5,685,000 the building is also new with 400 AMP service. Soft story seismic work is completed beyond the required standards. The building is fantastically located on prestigious Nob Hill, one of the best and most desirable neighborhoods in San Francisco. It is in close proximity to many fine restaurants, bars and upscale hotels. The Cable Cars run up and down California and Powell Streets very near the building. Public transportation via MUNI and BART is very accessible. The property is within walking distance to Union Square, Huntington Park, the Financial District, North Beach, the Convention Center and Chinatown. The San Francisco Bay Bridge and freeways are within a short driving distance. This is a rare opportunity for an investor to acquire a true pride of ownership property in an A+ rental location!

3 PROPERTY HIGHLIGHTS Extensively & Exquisitely Remodeled Downtown/Nob Hill Location 6 Large Two-Bedrooms 1 One-Bedroom & 1 Studio & 1 Office Delightful Private Backyard Laundry Room Quartz Countertops & Hardwood Floors Stainless Steel Appliances Hydronic Heat Throughout All New Copper Pipes & Drainage* Separately Metered for Gas & Electric 1 Ample Parking/Garages within 2 Blocks Capital Improvement Passthroughs Available GRM: 17.6 Cap Rate: 3.7% Market GRM: 14.3 Market Cap Rate: 5% Year Built: 1915** Soft Story Work Completed Building Size: Approx. 7,758 Sq. Ft.** Lot Size: Approx. 2,622 Sq. Ft.** Zoning: Rm4 High Dens Res** Parcel Number: ** Brand New 400 AMP Electrical System* Garbage Chute & Storage Area *Per Owner Information **Per MetroScan 1 Excluding Unit 9 which has an electric stove and is on the house meter.

4 INCOME & EXPENSES Scheduled Annual Gross Income (See Attached Rent Roll) $ 322,848 Less Vacancy (Estimated at 2%) (6,457) Adjusted Annual Gross Income $ 316,391 Estimated Operating Expenses: Property Taxes (Estimated at % of $5.685 mm) $ 66,645 Insurance (Quote from Comcov.com) 5,147 PG&E 5,100 Garbage 2,700 Water 5,500 Janitorial 1,200 Maintenance (Estimated at $600 per unit) 5,400 Property Management (Estimated at 5% of Adjusted Annual Gross Income) 15,820 Estimated Annual Operating Expenses (107,512) Estimated Net Operating Income: $ 208,879 Note: The above expenses and vacancy factor are estimates only, based partly on Seller s past expenses and partly on industry standards. All prospective buyers should determine their own numbers for all expenses and the vacancy factor.

5 Unit Type Scheduled Rent Market Rent 3 Move-In Date 1 2 Bedroom $3, $4, /10/ Bedroom $4, $4, /15/ Bedroom $3, $4, /1/ Bedroom $2, $4, /29/ Bedroom $ $4, /1/ Bedroom $3, $4, /1/ Bedroom $4, $4, VACANT 8 1 Studio $2, $2, VACANT 9 1,2 Office $1, ,2 $1, VACANT Laundry Storage $ $ $ $ Total Monthly Income $26, $33, Total Annual Income $322, $398, Vacant Unit. The stated rents for the vacant units are estimates of market rent and are subject to timing and the market and the amount of improvements made to the unit. All prospective Buyers should use their own estimate of market rent 2 Notice of Violation on this unit. Owner has been informed by City that if he removes the sink and burners it is a legal office unit. Prior to close of escrow, seller will complete sink and burner removal and elimination of notice of violation. 3 Market Rents. Rents shown are estimated market rents based on a renovated unit.

6 940 JONES STREET SAN FRANCISCO, CA

7 940 JONES STREET SAN FRANCISCO, CA

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9 The Fairmont InterContinental Mark Hopkins The Masonic PINE ST. BUSH ST.