3632 26th Street, San Francisco - List Price: $2,750,000 4-RESIDENTIAL UNITS, 5-GUEST ROOMS & 1-UNWARRANTED COTTAGE INNER MISSION/NOE VALLEY DISTRICT EXUSIVELY LISTED BY: ALLISON CHAPLEAU Senior Vice President 415.516.0648 achapleau@paragon-re.com www.allisonchapleau.com License: 01369080
PROPERTY SUMMARY 3632 26TH STREET 3732 26th Street, San Francisco Offered For Sale: $2,750,000 3632 26th Street is a 10-Unit Italiantate Building located in the Inner Mission District of San Francisco. This property is comprised of 4-Units, 5-Guest Rooms and 1-Unwarranted, Two- Story Cottage. Many of the units have been remodeled and five of the units will be delivered vacant. The property is situated on the border of the Inner Mission and Noe Valley. With Muni, Bart and shuttle stops for tech companies like Google, Apple, Facebook and Yahoo only a few blocks away, this property s location is highly desirable for many tenants. 4-Residential Units, 5-Guest Rooms, 1-Unwarranted Cottage & 1-Car Parking Located in the Inner Mission/Noe Valley District Residential Unit Mix: 2-Studios, 1-One Bedroom, 1-Two Bedroom 4-Guest Rooms & Cottage Delivered Vacant 2-Buildings on Property Unwarranted cottage is a two level, one bedroom/two bathroom structure Well-maintained building Scheduled Annual Income: $212,614 GRM: 12.93 CAP: 5.70% Building SqFt (per floor plans): 5,293 Year Built: 1920 2
PROPERTY AND FINANCIAL OVERVIEW 3632 26TH STREET FINANCIAL OVERVIEW Price: $2,750,000 Price per SqFt: $520 Price per Unit: $275,000 GRM: 12.93 Scheduled Annual Income: $212,614 Annual Expenses (estimated): $49,600 Internet Reimbursement (unit 2): $180 Net Operating Income: $156,815 CAP Rate: 5.70% PROPERTY OVERVIEW Address: Zip Code: 94110 3632 26th St Parcel Number: 6532-016 Units: 10-Units Building SqFt (per floor plans): 5,293 Lot SqFt (per tax record): Year Built: 1920 Neighborhood: 2,763 (30 x112 ) Inner Mission/ Noe Valley 3
INCOME & EXPENSES 3632 26TH STREET RENT ROLL Unit No. Unit Type Move-in Date Current Rent Apt 1 Studio 08/09/17 $2,200.00 $2,200 Apt 2 Studio 08/01/05 $746.70* $2,200 Apt 3 1 Bedroom 10/07/17 $3,200.00 $3,200 Apt 4 2 Bedroom 08/01/17 $4,200.00 $4,200 Rm 6 Guest Room vacant $1,250.00 $1,250 Rm 7 Guest Room vacant $1,250.00 $1,250 Rm 8 Guest Room 11/01/93 $411.33* $1,250 Rm 9 Guest Room vacant $1,250.00 $1,250 Rm 10 Guest Room vacant $1,250.00 $1,250 Cottage Unwarranted VACANT** $1,959.78 $3,600 Scheduled Monthly Income: Scheduled Annual Income: $17,717.81 $212,613.72 *Includes rent increase effective 03/01/18 **OMI served in February 2015. Restrictions apply until February 2020. ProForma Rent $21,650 $259,800 ESTIMATED ANNUAL EXPENSES Current Property Tax (Estimated rate 1.1792%): $32,428 Property Insurance (estimated): $5,500 Water (2017/estimated): $3,035 Garbage (2017/estimated): $2,656 PGE (2017/estimated): $4,926 Internet (2017/estimated): $1,055 Estimated Annual Expenses: $49,600 4
ANNUAL OPERATING INCOME AND FINANCING 3632 26TH STREET ANNUAL OPERATING INCOME Current Scheduled Gross Income: $212,614 Less Vacancy Rate (Estimated at 3%): ($6,378) Gross Operating Income: $206,235 Less Expenses (Estimated): ($49,600) Internet Reimbursement: $180 Net Operating Income: $156,815 Projected Debt Service: ($105,521) Net Cash Flow After Debt Service: $51,294 Cash on Cash Return: 5.33% GRM CAP: 12.93 5.70% FINANCING Loan Amount: $1,787,500 Down Payment (@35%): $962,500 Interest Rate (5yr fixed): 4.25% Amortization: 30 Annual Debt Service (Estimated): $105,521 5
INTERIOR PHOTOS REMODELED UNITS 6
INTERIOR PHOTOS TOP FLOOR W/ GUEST ROOMS 7
INTERIOR PHOTOS COTTAGE & YARD 8
3632 26TH STREET FIRST LEVEL LIVING APPROX. 1096 SQF UNIT 1 ENTRY SECOND LEVEL STUDIO UNIT 3 LIVING RM UP LIVING APPROX. 1765 SQF BEDROOM 1 UP BEDROOM DN THIRD LEVEL LIVING APPROX. 1552 SQF UNIT 9 LIVING AREA UNIT 8 LIVING AREA UNIT 10 LIVING AREA SIDE ENTRY STORAGE UNIT 7 LIVING AREA DN UNIT 2 STUDIO UNIT 4 LIVING RM FP UNIT 6 LIVING AREA BEDROOM 2 DINING RM DECK DECK DN NOTE: FLOOR PLANS, SQUARE FOOTAGE, AND DIMENSIONS ARE APPROXIMATE AND NOT FOR CONSTRUCTION PURPOSES. PROSPECTIVE BUYERS SHOULD NOT RELY ON THESE PLANS, SQUARE FOOTAGE, AND DIMENSIONS IN MAKING THEIR PURCHASE DECISION AND SHOULD CAREFULLY VERIFY THE ABOVE ITEMS AND ALL OTHER INFORMATION HEREIN. 9
3632 26TH STREET COTTAGE MAIN LEVEL COTTAGE UPPER LEVEL LIVING APPROX. 440 SQF ENTRY DECK LIVING APPROX. 440 SQF UP BEDROOM LIVING ROOM DINING ROOM DN STORAGE NOTE: FLOOR PLANS, SQUARE FOOTAGE, AND DIMENSIONS ARE APPROXIMATE AND NOT FOR CONSTRUCTION PURPOSES. PROSPECTIVE BUYERS SHOULD NOT RELY ON THESE PLANS, SQUARE FOOTAGE, AND DIMENSIONS IN MAKING THEIR PURCHASE DECISION AND SHOULD CAREFULLY VERIFY THE ABOVE ITEMS AND ALL OTHER INFORMATION HEREIN. 10
CONFIDENTIALITY & DISAIMER 3632 26TH STREET CONFIDENTIALITY & DISAIMER The information contained in the offering is confidential, furnished solely for the purpose of review by a prospective purchaser of the subject property. The material is based in part upon information supplied and in part upon information obtained by Paragon Commercial Brokerage from sources it deems reasonably reliable. No warranty or representation, expressed or implied, is made by the owner, Paragon Commercial Brokerage, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communications. Without limiting the generality of the foregoing, the information shall not be deemed a representation of the state of affairs of the subject property or constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of the information. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site. The Offering Memorandum was prepared Paragon Commercial Brokerage. It contains select information pertaining to the subject property and does not purport to be all inclusive or to contain all of the information which a prospective purchaser may desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation. An opportunity to inspect the subject property will be made available to qualified prospective purchasers. In the Offering certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. The Offering is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Paragon Commercial Brokerage or the owner. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the subject property described herein. The owner and Paragon Commercial Brokerage expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offer to purchase the subject property and/or to terminate discussions with any party at any time with or without notice. The owner shall have no legal commitment or obligation to any interested party reviewing the Offering or making an offer to purchase the subject property unless a written agreement for the purchase of the subject property has been fully executed and delivered by the owner and such party and any conditions to the owner s obligations thereunder have been satisfied or waived and then only to the extent expressly provided for therein. Paragon Commercial Brokerage is not authorized to make any representations or agreements on behalf of the owner. 11