PROPERTY HIGHLIGHTS Incredible Pacific Heights Location! 6 Two Bedroom Two Bath Apartments 7 One Bedroom Apartments 2 Studio Apartments 18 Covered Parking Spaces (8 Single and 5 Tandem/Double Spaces) 20 Storage Spaces Roof Deck With Elevator Access Laundry Room Security Cameras Much Rental Upside Balconies, Fireplaces & Water Views Soft Story Seismic Work Completed in 2017 One Elevator Building Size: approx. 14,000* Lot Size: Approx. 5,745 sq.ft* Zoning: RM1,* Parcel Number 0590-009* Year Built: 1964* $733,000 per unit $785 per sq.ft GRM 21.3 Cap Rate 2.9 % *Per MetroScan
2199 PACIFIC AVENUE (At the corner of Buchanan) OFFERED AT $10,995,000 2199 Pacific Avenue is a fantastic apartment building located in the prime Pacific Heights neighborhood with 15 spacious apartments, 8 enclosed single parking spaces and 5 enclosed tandem/double parking spaces for a total of 18 enclosed parking spaces. 20 storage spaces. Some of the units in this fantastic Pacific Heights corner building have balconies, some have fireplaces, and some of the units have water views. There is a roof deck with elevator access. The building has a coin operated laundry room. Separate electric meters. Hydronic heating provided by owner. Soft Story seismic work was completed in 2017. The building was constructed in 1964. The building is fantastically located in Pacific Heights, one of the best and most desireable neighborhoods in San Francisco. It is in close proximity to many fine restaurants, bars and shops. The property is within walking distance to Filmore Street, Union Street, Van Ness Avenue, Lafayette Park, Alta Plaza Park, the Presidio and the Marina. Public transportation to all parts of the city is very accessible. The Golden Gate Bridge, San Francisco Bay Bridge and freeways are within a short driving distance, giving easy access to all parts of the Bay Area.
Scheduled Annual Gross Apartment Rents (See attached Rent Roll) $ 516,132 Laundry Income ($400/mo.) 4,800 1 Scheduled Annual Gross Apartment Income $ 520,932 Less Vacancy (Estimated @ 2% of Scheduled Annual Gross Rents) (10,323) Adjusted Annual Gross Income $ 510,609 Annual Operating Expenses: Property Taxes (Estimated at 1.1826% of $10,995,000) $ 130,027 Insurance 7,086 2 Gas & Electric 12,871 Water & Sewer 6,490 Garbage 4,939 Elevator 810 License and Permits 590 Property Management (Estimated at 5% of Adjusted Annual Gross Income) 25,530 Repairs & Maintenance (Estimated at $700 per unit) 10,500 Estimated Annual Operating Expenses: (198,843) Estimated Net Operating Income: $ 311,766 1 Laundry Income estimated by Owner 2 Insurance estimate provided by Commercial Coverage Insurance Company 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. The information contained herein has been obtained from sources we deem reliable but is not guaranteed. Prospective purchasers are advised to independently verify accuracy and to review any disclosure information on file with this office.
Unit Number Unit Type Scheduled Rent Parking Rents Total 1 Scheduled Rent Market 2 Rents Move-in Date Next Increase Date 101 2BR / 2BA $ 2,760.00 $ 2,760.00 $ 5,495.00 12/01/08 03/01/18 102 1 BR 3,600.00 3,600.00 4,000.00 06/01/05 03/01/18 103 STUDIO 1,392.00 1,392.00 2,300.00 04/25/09 03/01/18 104 1 BR 2,039.00 2,039.00 4,000.00 07/01/11 03/01/18 105 2BR / 2BA 2,961.00 650.00 3,611.00 5,495.00 09/01/13 03/01/18 201 2BR / 2BA 1,825.00 1,825.00 5,495.00 02/10/04 03/01/18 202 1 BR 1,773.00 1,773.00 4,000.00 12/01/90 03/01/18 203 STUDIO 1,273.00 1,273.00 2,300.00 03/20/04 03/01/18 204 1 BR 3,000.00 3,000.00 4,000.00 09/10/09 03/01/18 205 2BR / 2BA 2,618.00 2,618.00 5,495.00 08/01/09 03/01/18 301 2BR / 2BA 1,726.00 280.00 2,006.00 5,495.00 01/25/04 03/01/18 302 1 BR 2,284.00 2,284.00 4,000.00 02/27/10 03/01/18 303 1 BR 4,601.00 4,601.00 4,200.00 06/01/14 03/01/18 304 2 BR / 2BA 4,876.00 4,876.00 5,495.00 04/01/13 03/01/18 Mezzanine 1 BR 3,933.00 3,933.00 3,600.00 09/01/14 03/01/18 Other Parking 620.00 620.00 Vacant Parking 3 800.00 3 800.00 3 Single Parking 8 Spaces @ $300/mo Tandem Parking 5 Spaces @ $400/mo 20 Storage Spaces @ $50/mo 2,400.00 2,000.00 1,000.00 Total Monthly $40,661.00 $2,350.00 $43,011.00 $70,710.00 Total Annual $487,932.00 $28,200.00 $516,132.00 $849,240.00 1 Total Scheduled Rent includes Scheduled Rent and Parking Rent 2 Market Rents. Market Rents are estimated by a leasing agent, Craig Berendt of Vertex Property Group and depends on the quality of finishes and improvements to the unit. Seller and Broker do not warrant or guarantee the stated Market Rents. All prospective buyers should use their own estimate of Market Rents. 3 1 full tandem and 2 half tandems estimated at $400 per full tandem or $200 per half tandem. The information contained herein has been obtained from sources we deem reliabl to independently verify accuracy and to review any disclos
2199 PACIFIC AVENUE Theinformationcontainedhereinhasbeenobtainedfromsourceswedeemreliablebutisnotguaranteed. Prospectivepurchasersareadvised toindependentlyverifyaccuracyandtoreviewanydisclosureinformationonfilewiththisoffice.
2199 PACIFIC AVENUE Theinformationcontainedhereinhasbeenobtainedfromsourceswedeemreliablebutisnotguaranteed. Prospectivepurchasersareadvised toindependentlyverifyaccuracyandtoreviewanydisclosureinformationonfilewiththisoffice.