pacific heights multi-family portfolio!

DAN MCGUE, EXECUTIVE VICE PRESIDENT 415.738.7201 | [email protected] | DanMcGue.com | Lic# 00656579

PACIFIC HEIGHTS37 UNITS

2136 & 2148 BRODERICK STREETSAN FRANCISCO, CA

PACIFIC HEIGHTS MULTI-FAMILY PORTFOLIO! 37 APARTMENT UNITS TWO BUILDINGS 2136 & 2148 BRODERICK STREET SAN FRANCISCO, CA 94115 OFFERED FOR SALE

[ 2 ]


2136 & 2148 BRODERICK STSAN FRANCISCO


PROPERTY HIGHTLIGHTS• GRM: 13.4

• CAP RATE: 4.9%

• $283,784 PER UNIT

• INCREDIBLE PACIFIC HEIGHTS LOCATION

• 37 EFFICIENCY APARTMENTS W/ TWO BUILDINGS

• 38 STORAGE SPACES

• LAUNDRY ROOM IN EACH BUILDING WITH OWNER-OWNED MACHINES

• RENTAL UPSIDE

• TOTAL BUILDING SIZES: APPROX. 12, 260 SQ. FT.*

• LOT SIZES: 2,750 SQ. FT.* AND 1,793 SQ. FT.*

• ZONING: RH-2*

• PARCEL NO's: 1001-021* AND 023*

• YEAR BUILT: 1890* AND 1895*

• THESE BUILDINGS ARE ON THE SOFT STORY LIST. THE OWNER HAS SIGNED CONTRACTS FOR THE WORK AND THERE ARE PLANS.

OFFERED FOR SALE

*Per Metro Scan

[ 3 ]




2136 & 2148 BRODERICK

STREET(Between Clay and Washington)

OFFERED AT: $10,500,000

2136 & 2148 Broderick Street are two beautiful well-maintained buildings with 37-units located in the heart of Pacific Heights, one of the finest neighborhoods in San Francisco. Constructed in 1890 and 1895, the buildings consist of 37 efficiency units, boasting natural light and beautiful architectural details throughout. Many of the units have been renovated, including new bathrooms, hardwood floors, cabinets, sinks and paint. 38 storage spaces, and two coin operated laundry rooms with owner-owned machines. All units have separate electric meters and heat. The roof for 2136 Broderick was replaced in 2014.

Located in Pacific Heights, these buildings are highly desirable as they are within walking distance to Union Street, Chestnut Street, Fillmore Street, and Sacramento Street, all of which contain a plethora of shopping and great restaurants. Additionally, the buildings are conveniently located to parks such as Alta Plaza and Presidio National Park. Public transportation stops via Muni are nearby giving great and quick access throughout the City. The Golden Gate Bridge is within a short driving distance allowing easy access to Marin County and the Wine Country. Park Presidio is easily accessed leading to 19th Avenue and Interstate 280 South to the Peninsula, Half Moon Bay and San Jose.

PROPERTY OVERVIEW

[ 4 ]




INCOME AND EXPENSE

INCOME & EXPENSES

Scheduled Annual Gross Income (See Attached Rent Rolls) $ 781,576

Less Vacancy (Estimated @ 2% of Scheduled Annual Gross Income) (15,632)

Adjusted Annual Gross Income $ 765,944

Estimated Annual Operating Expenses

Property Taxes (Estimated at 1.1723% of 10,500,000) $ 123,092

Insurance1 6,8881

PG&E 12,290

Water & Sewer 15,732

Garbage 13,115

Resident Manager 14,653

Payroll Tax Expense 563

Workers Compensation Expense 2,715

License Expense 4,270

Security/Life Safety 3,090

Property Management (Estimated @ 4.5% of Adjusted Gross Income) 34,468

Repairs & Maintenance (Estimated @ $650 per unit) 24,050

Estimated Annual Operating Expenses: $ (254,925)

Estimated Net Operating Income: $ 511,019

1Insurance Cost Estimate provided by Commercial Coverage Insurance CompanyNote: The above expenses and vacancy factor are estimates only, based partly on the Seller's past experience and partly on industry standards. All prospective buyers should determine their own numbers for all expenses and the vacancy factor.

[ 5 ]




2136 BRODERICK RENT ROLLUnit Number Type Scheduled Rent Bond Storage Rental Other Total Scheduled

Rent1Move In Date Next Increase

Date1 Efficiency $2,055.00 $2,0055.00 8/06/18 8/05/19

23 Efficiency $1,950.00 $1,950.003 VACANT

3 Efficiency $1,026.44 $1,026.44 3/01/98 4/01/19

42 Efficiency $1,221.072 31.87 $1,252.942 3/21/13 4/01/19

5 Efficiency $2,095.00 $2,095.00 8/04/17 9/01/18

6 Efficiency $1,027.25 41.29 $1,068.54 11/28/04 4/01/19

7 Efficiency $2,128.62 $2,128.62 3/18/16 4/01/19

8 Efficiency $2,095.00 $2,095.00 5/30/18 5/31/19

9 Efficiency $2,095.00 $2,095.00 4/1/18 3/21/19

10 Efficiency $1,750.00 8.41 $1,758.41 8/25/16 9/01/18

11 Efficiency $2,065.00 $2,065.00 6/15/18 3/14/19

12 Efficiency $831.49 $831.49 6/29/94 11/01/18

136 Efficiency $968.30 23.486 $991.78 12/05/91 4/01/19

14 Efficiency $2,030.00 $2,030.00 7/12/18 7/11/19

15 Efficiency $2,150.00 2.32 $2,152.32 5/30/17 5/01/19

16 Efficiency $1,995.00 $1,995.00 8/13/17 9/01/19

17 Efficiency $919.81 8.41 35.44 $963.66 5/24/94 10/01/18

18 Efficiency $2,071.51 8.41 $2,079.92 8/29/15 4/01/19

19 Efficiency $1,170.82 27.76 $1,198.58 1/24/09 4/01/19

20 Efficiency $1,995.00 $1,995.00 9/01/17 9/01/19

Estimated Laundry Income4 400.00 4 400.00 4

#B3, #B26 Storage Only 200.00 200.00

#B1, #B14 Storage Only 200.00 200.00

16 Available Storage Units 1,600.00 5 1,600.00 5

Total Monthly $33,640.31 $27.55 $2,159.84 $400.00 $36,227.701

Total Annual $403,683.72 $330.60 $25,918.08 $4,800.00 $434,732.401

1 Total Scheduled Rent includes Scheduled rent, Bond, and Storage Rental.2 Tenant is the onsite manager for both 2136 & 2148 Broderick.3 Vacant Unit. Owner's estimated market rent. Estimated market rent depends on the quality of finishes and improvements to the unit. Seller and Broker do not warrant or guarantee the stated estimated market rent. All prospective Buyer's should use their own estimate of market rents.4 Owner's estimated laundry income.5 Owner estimates that available storage units at $100 per storage space. Buyer should use Buyer's own estimate of market storage rents.6 Tenant occupies 2 storage spaces, is only charged for 1.

2136 RENT ROLL

[ 6 ]




2148 BRODERICK RENT ROLL

1 Total Scheduled Rent includes Scheduled rent, Bond, Storage Rental and Other.2 Vacant Unit. Owner's estimated market rent. Estimated market rent depends on the quality of finishes and improvements to the unit. Seller and Broker do not warrant or guarantee the stated estimated market rent. All prospective Buyer's should use their own estimate of market rents.3 Owner's estimated laundry income.4Owner estimates that available storage units at $100 per storage space. Buyer should use Buyer's own estimate of market storage rents.5 Pending Vacancy 8/18. Owner's estimated market rent. Estimated market rent depends on the quality of finishes and improvements to the unit. Seller and Broker do not warrant or guarantee the stated estimated market rent. All prospective Buyer's should use their own estimated of market rents.

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 Type Scheduled Rent Bond Storage Rental Other Total Scheduled Rent1

Move In Date Next Increase Date

1 Efficiency $1,186.27 $1,186.27 1/5/11 3/01/19

2 Efficiency $1,955.00 $1,955.00 8/1/18 7/31/19

3 Efficiency $1,002.04 $1.87 $1,003.91 5/08/06 6/01/19

4 Efficiency $1,795.00 $1,795.00 2/01/18 1/31/19

5 Efficiency $1,054.26 $1,054.26 1/01/10 3/01/19

6 Efficiency $1,676.40 $1.87 $1,678.27 3/07/17 6/01/19

7 Efficiency $2,050.00 $2,050.00 1/01/16 1/01/19

8 Efficiency $1,275.77 $1.87 $1,277.64 6/07/13 7/01/189 Efficiency $1,995.00 $1,995.00 1/15/18 1/15/19

10 Efficiency $1,184.04 $22.67 $1,206.71 4/03/10 4/01/19

11 Efficiency $1,175.19 $1,175.19 12/19/10 3/01/19

12 Efficiency $2,050.00 $2,050.00 1/01/16 1/01/19

13 Efficiency $1,995.005 $1,995.00 8/19/17 8/18/18

14 Efficiency $1,018.95 $1.87 $1,020.82 2/01/04 5/01/19

15 Efficiency $2,260.60 $2,260.60 3/07/17 4/01/19

16 Efficiency $2,000.00 $2,000.00 7/15/17 8/01/19

17 Efficiency $1,800.00 $1,800.00 1/27/17 8/01/19

Estimated Laundry Income3 300.00 3 300.00 3

#C3 Storage Only 100.00 100.00 9/15/05

10 Available Storage Units 1,000.00 4 1,000.00 4

Total Monthly $27,473.52 $7.48 $1,122.67 $300.00 $28,903.671

Total Annual $329,682.24 $89.76 $13,472.04 $3,600.00 $346,844.041

2148 RENT ROLL

[ 7 ]




2148 INFERIOR PHOTOS

[ 8 ]




2136 INTERIOR PHOTOS

[ 9 ]




PROPERTY MAP

[ 10 ]




ARIEL MAP

pacific heights multi-family portfolio!

Documents