FOR SALE 12 Apartment Units 316 Alida Way, South San Francisco, California Exclusively Listed by: Mark Scafine BRE#01002576 (650)342.3030 Mscafine@scpropsm.com
IMPORTANT INFORMATION The information contained in the following marketing package has been given to us by the owner of the property, or obtained through sources we deem reliable. While we have no reason to doubt it s accuracy, SC Properties does not guarantee it. Verification of the enclosed information should be conducted by a thorough inspection of the property along with a review of all source documents in possession of the seller during the the due diligence period. This marketing package has been produced to provide summary information in order to establish a preliminary level of interest in the subject property. SC Properties strongly advises any potential purchaser to consult with a Tax Advisor and/or Legal Council prior to acquiring the property. Any potential purchaser is also strongly advised to measure all units prior to purchase and should not rely upon the square footage supplied in this marketing package. The listing agent and owner have not had the opportunity to verify the size of each unit, and have approximated the size of each unit based on the total building square footage as listed by the San Mateo County recorder s office. Upon entering into a contract to purchase the subject property, we recommend the Buyer hire licensed professionals to perform physical inspections of the property. 2
SALIENT FACTS Address 316 Alida Way, South San Francisco Offering Price $4,800,000 Units 12 Price Per Unit $400,000 Building Square Footage. 10,642 Sq. Ft. per county records. Buyer to verify Price Per Square Foot $451.04 Lot Size 14,000 Sq. Ft. per county records. Buyer to verify Gross Income $257,520 Net Operating Income $194,921 *includes a 3% vacancy factor Cap Rate Current 4.06%, Market 4.38% Unit Mix 7 2br/1ba, 5 1br/1ba Utilities Units are separately metered for gas and electric. Master water meter One room, four machines (Lease Laundry with Wash) Parking Enclosed garage and carport Tenant Storage Lockers Assessor's Parcel Number 013 145 400 Year Built 1960 Construction Wood frame/stucco Foundation Concrete perimeter and slab 3
Desirable unit sizes with spacious floor plans Dual pane windows throughout New roof installed in 2003 Exterior painted in 2012 Two new water heaters (2016/2017) Six of twelve unit interiors have been renovated Ample parking on property and on street 6 private garages, 6 carport parking spaces Quiet street Upside in rents Minimal management responsibilities Close to thriving Downtown South San Francisco, local schools, parks, community centers, and public transportation Quick drive to El Camino Real, Highways 101, 280 and Downtown San Francisco, SFO 316 Alida Way 4
OPERATIONS STATEMENT Rent Roll UNITS CURRENT MARKET # Type Term Rent Rent 1 2x1 mo/mo $2,350 $2,600 2 1x1 mo/mo $1,775 $1,950 3 2x1 mo/mo $1,750 $2,600 4 2x1 mo/mo $1,850 $2,600 5 1x1 Lease $1,975 $1,950 6 2x1 Lease $2,400 $2,600 7 1x1 Lease $1,900 $1,950 8 2x1 mo/mo $1,850 $2,600 9 2x1 mo/mo $1,750 $2,600 10 1x1 Lease $1,950 $1,950 11* 2x1 mo/mo $1,675 $2,600 12** 1x1 mo/mo $0 $2,000 Laundry $235 $350 Monthly Gross Income $21,460 $28,350 Annual Gross Income $257,520 $340,200 *section 8 **currently occupied by owner s relative who will be moving out prior to COE Operating Expenses Current Market Repairs & Maintenance $3,596 $10,000 Property Management $9,583 $12,876 Painting $1,850 $1,850 Supplies $2,375 $2,375 Gardening $1,320 $1,800 Appliances $1,268 $1,268 Plumbing $2,701 $3,000 Fire Safety $500 $500 Gas and Electricity $6,424 $6,424 Water $6,154 $6,154 Trash $7,197 $7,197 Subtotal $42,968 $53,444 NON OPERATING EXPENSES Property Tax (1.0601%) $11,450 $62,335 Assessments $58 $58 Insurance $3,217 $3,200 Reserves $0 $5,000 Subtotal $14,725 $70,592 Total Expenses $57,693 $124,036 Per Sq Ft $5.42 $11.66 Percentage of gross income 22.40% 36.46% Per Unit $4,808 $10,336 5
EXTERIOR PHOTOS 6
EXTERIOR COMMON AREAS AND GROUNDS 7
PARKING 8
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AERIAL PHOTOS 10
APARTMENT INTERIOR PHOTOS 11
Pending 538 42 Railroad Ave, South San Francisco 94080 1) Price $3,990,000 Units 10 $/Unit $399,000 $/Sq. Ft. $373.59 COE Unit Mix N/A InContract 8 2br/1ba, 2 3br/2ba 2) Sold 519 Commercial Avenue, South San Francisco 94080 Price $3,600,000 Units 9 $/Unit $400,000 $/Sq. Ft. $375.35 COE 5/18/2018 Unit Mix 9 2br/1ba 12
3) 4) 119 Maple Avenue, South San Francisco 94080 Price $2,500,000 Units 5 $/Unit $500,000 $/Sq. Ft. $456.12 COE 05/09/2018 Unit Mix 4 2bd/1ba, 1 2bd/1.5ba 140 Southwood Center, South San Francisco 94080 Price $2,180,000 Units 6 $/Unit $363,333 $/Sq. Ft. $406.72 COE 03/07/2018 Unit Mix 4 1bd/1ba, 2 2bd/1ba 13
5) 410 Maple Avenue, South San Francisco 94080 Price $1,950,000 Units 6 $/Unit $325,000 $/Sq. Ft. $406.17 COE 04/05/2018 Unit Mix 6 1bd/1ba 14
MARKET RENT INFO 15
PARCEL MAP 16
STREET MAP 17
Mark Scafine Lic #01002576 (650)342.3030 Mscafine@scpropsm.com Devyn Jackson Lic #02052124 (650)342.3030 Djackson@scpropsm.com Kevin Phillips Lic #01470917 (650)342.3030 Kphillips@scpropsm.com Chris Giotinis Lic # 01962295 (650)342.3030 Cgiotinis@scpropsm.com 316 Alida Way 18