presidio heights trophy property! …...ceilings, hardwood floors, excellent views and good natural...

Dan McGue 415.229.1245 | [email protected] | DanMcGue.com | Lic#0065657

3650 - 3664 Sacramento StreetSan Francisco, CA

PRESIDIO HEIGHTS TROPHY PROPERTY! Residential/Commercial Building Offered For Sale

Paris Robbins415.229.1213 | [email protected] | Lic#02047468

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The information contained herein has been obtained from sources we deem reliable but is not guaranteed.


• Fabulous Presidio Heights Location!

• 7 Units: 4 Residential and 3 Commercial

• 3 Three Bedrooms/ Two Baths Apartments

• 1 Three Bedrooms/One Bath Apartment

• GRM: 17.5

• Cap Rate: 3.9%

• $745 per Square Foot

• All Apartments Are Large Beautiful Units

• Some Apartments Have Fantastic Southern Views

• Three Units With Washer/Dryer

• All Commercial Spaces Have Excellent Tenants

• One of the Largest Properties in the Sacramento Street Neighborhood Commercial District

• Parcel Number: 1011-011*

• Building Sq. Ft.: Approx. 14,422*

• Lot Sq. Ft.: Approx. 7,981*

• Year Built: 1908*

• Zoning: Sacramento Street NCD**

*Per MetroScan**Per Owner

3650-3664 Sacramento Street (Between Spruce & Locust)

OFFERED AT $10,750,000

Residential/Commercial Trophy Building Offered For Sale

PRESIDIO HEIGHTS TROPHY PROPERTY!

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3650 Sacramento Street is a fantastic mixed-use retail and multi-family building in an excellent Presidio Heights location. The building was constructed in 1908 and maintains its classic interior architecture. It boasts four large beautiful residential apartments and three large commercial units. The apartments consist of 3 three bedroom/ two bath units and 1 three bedroom/one bath unit. The tastefully remodeled units are extremely large and have ample sized living rooms, kitchens, bedrooms and closets. They show very well with their high ceilings, hardwood floors, excellent views and good natural light. There are redwood decks off of the bright kitchens. Each residential unit has a decorative fireplace and three of the units include a washer and a dryer. One residential unit is currently utilized as a corporate rental, leased through 2019. The three commercial spaces also have high ceilings and are occupied by excellent tenants, namely Mighty Pilates, Skurman Architects and Hilliard Design. The property is separately metered for PG& E and tenants pay for electricity and heat. The main roof was replaced in 2016. The building is one of the largest properties in the Sacramento Street Neighborhood Commercial District.

The property is in a prime location for retail shops and apartment homes. This attractive building is located in the highly desirable Presidio Heights, which has an abundance of shops, restaurants and other services on Sacramento Street and in the nearby Laurel District Shopping Center. It is adjacent to the highly acclaimed and popular restaurant, Spruce. It is close to California Street, Clement Street and Geary Boulevard, which also have many retail shops, restaurants and bars. The

property is conveniently located near other area attractions such as the Presidio, Golden Gate Park, Baker Beach and the Marina. There are several pending residential/commercial projects within a short walking distance, totaling over 800 units, including two huge projects on the UCSF/Fireman's Fund site at the corner of California and Presidio Streets and the CPMC site at 3700 California Street, which goes through the block to Sacramento Street, as well as 18 units directly across Sacramento Street. These development projects will tremendously invigorate this section of Sacramento Street, which is already an extremely popular and high end commercial district. Public transportation

stops via Muni are nearby, giving convenient access to the Financial District, Downtown and the rest of 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.



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INCOME & EXPENSE PRO-FORMA



Apartment & Retail Scheduled Annual Gross Income (See Attached Rent Roll) $612,120

Laundry Income 1,000

Total Annual Gross Income $613,120

Less Vacancy (estimated at 2% of Scheduled Gross Income) (12,242)

Adjusted Annual Gross Income $600,878

Annual Operating Expenses:

Property Taxes (Estimated at 1.1723% of $10.75mm) $126,022

Insurance (Estimate from Commercial Coverage Insurance Agency) 9,656

PG&E 3,518

Garbage 3,130

Comcast1 2,024

Water/Sewer 7,498

Janitorial/Pest Control 4,502

Repairs & Maintenance (Estimated at $750 per unit) 5,250

Management (Estimated at 4% of Adj. Gross Income) 24,035

Estimated Annual Operating Expenses: (185,635)

Estimated Net Operating Income: $415,243

1 Comcast expense is for the corporate rental (Unit 3650) and will be eliminated when the corporate rental is ended.

Note: The above expenses and vacancy factor are estimates only, based partly on Seller's past ex-penses and partly on industry standards. All prospective buyers should determine their own numbers for all expenses and the vacancy factor.

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RENT ROLL

Unit # Unit Type Scheduled Rent

Move In Date

Lease Expiration

Next Increase Date SQ. FT. $/SQ.

FT. Notes

36501 3 Bed/1 Bath1 $5,185.001 1/1/2018 - 2/1/2020 $2.94

3652 3 Bed/2 Baths $4,356.62 3/1/2008 - 6/1/2019 $2.59

3662 3 Bed/2 Baths $5,995.00 7/1/2017 - 8/1/2019 $3.71

3664 3 Bed/2 Baths $5,200.00 1/1/2018 - 2/1/2020 $3.06

3654A Retail - Mighty Pilates $6,982.73 2/1/2010 1/23/2023 2/1/2020 1,401 $4.98

3% Annual Increas-es. One 5 Year

Option at Market with 3% annual in-creases thereafter.

Tenant pays for all utilities, except

water.

3654B2 Retail - Skurman Architects2 $17,569.002 1/1/2000 9/30/2023 10/1/2020 3,440 $5.11

2.5% Annual Increases. One 5

Year Option at 95% of Market. 2.5% Annual Increases thereafter. Tenant

pays for all utilities, except water.

3654C Retail - Heather Hilliard Design $5,721.65 8/1/2010 12/31/2022 1/1/2020 1,010 $5.67

3% Annual Increases. Two 3

Year Options at 3% increase over pre-vious year and 3% annual increases thereafter. Tenant

pays for all utilities, except water3

Total Monthly Income $51,010.00

Total Annual Income $612,120.00

1Actual Rent for this corporate rental is $6,100 per month and rental agent receives 15%. This will end February 28, 2020. 2 Stated rent includes increase starting 10/1/2019.3 Lease states that the landlord pays for garbage, however, tenant has been consistently paying for the garbage service.



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click here for additional photographs



RESIDENTIAL PHOTOS

https://www.dropbox.com/sh/zel8i4x2jvxjm66/AAAeOh6Y_wx7XR1g8cpILM16a?dl=0

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3664 A, B & C Sacramento Street San Francisco, CA

click here for additional photographs



RETAIL PHOTOS

https://www.dropbox.com/sh/zel8i4x2jvxjm66/AAAeOh6Y_wx7XR1g8cpILM16a?dl=0

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presidio heights trophy property! …...ceilings, hardwood floors, excellent views and good natural...

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