Dan McGue 415.229.1245 | Dan@DanMcgue.com | DanMcGue.com | Lic#0065657

1625 Larkin StreetSan Francisco, CA

Nob Hill Pride of Owernship 7 Unit Apartment Building

1625 Larkin Street (Between Clay & Washington)

OFFERED AT $4,500,000

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

1625 Larkin Street

• Excellent Nob Hill Location!

• 7 Large Apartment Units

• All 2 Bedroom/1 Baths Units

• Four Units Extensively Rehabbed

• All Large Units

• Two Car Parking Garage

• Much of the Original Architecture Retained

• Common Areas Rehabbed with New Carpet, Paint & Light Fixtures

• Recently Redesigned & Beautifully Landscaped Backyard

• Substantial Rental Upside

• Approximately 60 New Doubled Paned Windows Installed Throughout

• San Francisco Bay Views

• Soft Story Seismic Work Completed

• Potential for TIC Conversion

• GRM: 21.4

• Cap Rate: 2.4%

• Market GRM: 12.2

• Market Cap Rate: 5.7%

• $607 per Square Foot

• Separate Gas & Electric

• Separate Heat

• Parcel Number: 0620-005*

• Building Sq. Ft.: Approx. 7,410*

• Lot Sq. Ft.: Approx. 3,432*

• Year Built: 1909*

• Zoning: Rm3 Med Desn Res*

*Per MetroScan

NOB HILL PRIDE OF OWNERSHIP PROPERTYMulti-Family Building Offered For Sale

San Francisco, CA

Property Highlights

Beautiful seven unit apartment building with two car garage in an excellent Nob Hill location, one of the consistently most popular San Francisco neighborhoods. The building was constructed in 1909, and recently extensively rehabbed. All large two bedroom units. Great floor plans with large kitchens, bedrooms, living rooms and closet space. Beautiful architectural details and high ceilings throughout. Four of the units have been tastefully renovated with all new kitchens (including new high-quality appliances, counter tops, cabinets and floors), new baths (including new fixtures, tile and floors) and new hardwood floors. Some units have western views and all units have good natural light. The building has an attractive lobby with new paint and floor. Common halls have new paint and carpet. The front exterior of the building was also recently painted and approximately sixty new double paned windows were installed throughout. The units are separately metered for gas and electric and have separate gas furnaces and stoves. Tenants pay for their own heat, therefore, expenses for the building are low. Much of the plumbing (both supply and drain lines) has been recently replaced. Recently installed 400 AMP electric service. Soft story seismic work is completed. This is a rare pride of ownership property.

The building is fantastically located on Nob Hill, one of the most desirable neighborhoods in San Francisco. It is in close proximity to many fine restaurants, bars and upscale hotels. The property is

[ 3 ]

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

1625 Larkin Street

1625 Larkin Street (Between Clay & Washington)

OFFERED AT $4,500,000

NOB HILL PRIDE OF OWNERSHIP PROPERTYMulti-Family Building Offered For Sale

within walking distance to the Financial District, Union Square, Chinatown, North Beach, Van Ness Avenue and Union Street. Public transportation via MUNI is also within short walking distance of the property, giving access to all other parts of the City. Short driving distance to the San Francisco Bay Bridge, the Golden Gate Bridge and freeways to the Peninsula give easy access to the entire Bay Area.

This is a rare opportunity for an investor to acquire a pride of ownership property, extensively rehabbed including soft story seismic work in a fantastic location!

San Francisco, CA

Property Description

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

INCOME & EXPENSE PRO-FORMA

Scheduled Annual Gross Apartment Income (Includes parking) $210,262

Less Vacancy (estimated at 2% of Scheduled Gross Income) (4,205)

Adjusted Annual Gross Income $206,057

Annual Operating Expenses:

Property Taxes (Estimated at 1.1723% of $4.5mm) $52,754

Insurance 2,454

Electricity & Gas 4,025

Garbage 5,084

Water 10,004

Pest 199

Telephone 2,023

Cleaning & Maintenance 6,266

Repairs & Maintenance (Estimated at $650 per unit) 4,550

Management (Estimated at 5% of Adj. Gross Income) 10,303

Estimated Annual Operating Expenses: (97,662)

Estimated Net Operating Income: $108,395

1625 Larkin Street

NOB HILL PRIDE OF OWNERSHIP PROPERTYMulti-Family Building Offered For Sale

San Francisco, CA

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.

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

RENT ROLL

Unit Unit Type Monthly Rent Market Rent1 Last Increase Date Move in

A2 2Bdr./1Ba2. $1,334.742 $4,100 4/1/2019 11/1/1998

B2 2Bdr./1Ba.2 $1,612.692 $4,200 4/1/2019 1/1/1992

C2 2Bdr./1Ba.2 $1,433.772 $4,300 4/1/2019 2/1/2005

D 2Bdr./1Ba. $3,648.00 $4,300 4/1/2019 10/11/2016

E2 2Bdr./1Ba.2 $1,292.652 $4,300 4/1/2019 6/1/1998

F3 2Bdr./1Ba3 . $4,000.003 $4,350 3/17/2017 3/17/2017

G3 2Bdr./1Ba.3 $4,200.003 $4,500 8/1/2016 8/1/2016

Garage 2 Spaces - $660 - -

Total Monthly $17,521.85 $30,7101

Total Annual $210,262.20 $368,5201

1625 Larkin Street

NOB HILL PRIDE OF OWNERSHIP PROPERTYMulti-Family Building Offered For Sale

San Francisco, CA

1 All Market Rents depend on the quality of finishes and improvements to the units. Seller and Broker do not warrant or guarantee the stated estimated market rents. All prospective Buyer's should use their own estimate of Market Rents.2 For units A, B, C and E, rents include a Capital Improvement Passthrough, all of which will go into ef-fect by 7/1/2019. Please see the Petition and Decision in the DD File.3 For units F and G, Annual Rent Increases have been banked.

[ 6 ]

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

1625 Larkin Street

NOB HILL PRIDE OF OWNERSHIP PROPERTYMulti-Family Building Offered For Sale

San Francisco, CA

[ 7 ]

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

1625 Larkin Street

NOB HILL PRIDE OF OWNERSHIP PROPERTYMulti-Family Building Offered For Sale

San Francisco, CA

[ 8 ]

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

1625 Larkin Street

NOB HILL PRIDE OF OWNERSHIP PROPERTYMulti-Family Building Offered For Sale

San Francisco, CA

[ 9 ]

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

1625 Larkin Street

NOB HILL PRIDE OF OWNERSHIP PROPERTYMulti-Family Building Offered For Sale

San Francisco, CA