Mixed-Use Investment Opportunity | Inner Richmond Distr ict - San Francisco, CA
Offering Memorandum419-423 Clement Street
BRIAN LEUNGlic. 01203473Senior Vice President | Investments
direct + 1 415 288 7881email [email protected]
LISA NGlic. 02032528Client Services Coordinator| Investments
direct + 1 415 288 7825email [email protected]
419-423 Clement StreetTable of ContentsOFFERING SUMMARY 3
FINANCIAL OVERVIEW 4
PROPERTY PHOTOS 5
FLOOR PLANS 6
LOCATION OVERVIEW 8
P. 3 COLLIERS INTERNATIONAL OFFERING MEMORANDUM | 419-423 CLEMENT ST
419-423 Clement StreetOffering Summary Colliers International is pleased to present 419-423 Clement Street, San Francisco, CA 94118 for purchase at $1,750,000. This is a great opportunity for an owner/user or investor to acquire the Fee Simple interest in a 3-unit mixed use building consisting of one ground floor retail unit and two residential units in the Inner
Richmond District. Subject property is on the busy Clement Street corridor which is bustling with neighbor-
hood boutique shops and fantastic restaurants. Subject property is also conveniently located within walking
distance of Golden Gate Park and public transportation to Downtown San Francisco. The area has a Walk
Score of 97/100, Bike Score of 96/100, and Transit Score of 78/100.
General Information:Address:
419-423 Clement Street
San Francisco CA 94118
District: Inner Richmond District
APN: 1437-042
Building Square Feet: 2,880 SF (per tax records)
Lot Size: 2,500 SF (per tax records)
Constructed: 1900
Zoning: Inner Clement
Units: 3
Features:Use: Mixed-Use
Structure: Wood
Stories: 2
Parking/Garage: Street
Utilities: PG&E
Water/Sewer: SF-PUC
P. 4 COLLIERS INTERNATIONAL OFFERING MEMORANDUM | 419-423 CLEMENT ST
LOCATION: 419-423 CLEMENT STREET, SAN FRANCISCO, CA 94118
Annual Gross Income
Financial Overview
Expense Categories Annual
PG&E $255
Insurance $1,696
Water $975
Special Assessment $308
Property Tax $20,515
GAE $23,749
NOI $118,739
List Price $1,750,000
GRM (projected) 12.28
Cap Rate (projected) 6.79
Annual Operating Expenses
Unit # Unit Type Income
419 Clement (vacant) Retail $8,000421 Clement (Front) 1 br/1 ba $1,374
423 Clement (rear vacant) 1 br/1 ba $2,500MONTHLY $11,874GAI $142,488
Financial Overview
P. 6 COLLIERS INTERNATIONAL OFFERING MEMORANDUM | 419-423 CLEMENT ST
Floor Plans
Floor Plans
Retail
Up
Office
Rstrm
Office Office
Laun.
Storage Storage Storage
Covered Patio(*can be used as storage)
Clement St
27'
8'12
'8'
4'
12'
6'
6' 6' 6'
19'
21'
25'
7' 9'
4'
13'
9'12'
10'
7' 6' 4'
11'
15'
17'
34'
Up
Up
Rendering by Floor Plan Visuals.All measurements are approximate. While deemed reliable, no informationon these floor plans should be relied upon without independent verification.
419 CLEMENT STREET
N
FIRST FLOORCommercial Area: 1,450 SQ FTCommon Area: 110 SQ FT
Presented by Lisa Ng, Colliers InternationalTel: 415.288.7825
Email: [email protected] measurements are approximate. While deemed reliable, no information on these floor plans should be relied upon without independent verification.
P. 7 COLLIERS INTERNATIONAL OFFERING MEMORANDUM | 419-423 CLEMENT ST
Floor Plans
All measurements are approximate. While deemed reliable, no information on these floor plans should be relied upon without independent verification.
P. 8 COLLIERS INTERNATIONAL OFFERING MEMORANDUM | 419-423 CLEMENT ST
Location OverviewINNER RICHMOND DISTRICT | SAN FRANCISCO
The Richmond District in San Francisco (not to be confused with
the City of Richmond across the bay) is a long swath of residential
streets that stretches all along the northern border of Golden Gate
Park to the Pacific Ocean.
Given Golden Gate Park to the south, the Presidio to the northeast,
and Lincoln Park on its northwest, the Richmond District doesn’t
lack for outdoor places to picnic, enjoy nature, or go for a hike or
jog. Like Central Park in New York, Golden Gate Park is a venue for
rock concerts (like Outsidelands) and a series of other cultural and
political events. The park is home to the De Young Museum, the
California Academy of Sciences, the Spreckels Temple of Music,
and the SF Botanical Garden.
The Richmond District and the neighboring Sunset District (on the
south side of Golden Gate Park) are often collectively known as
“The Avenues”, because a majority of both neighborhoods are
spanned by numbered north-south avenues. When the city was
originally laid out, the avenues were numbered from 1st to 49th
and the east-west streets were lettered A to X. In 1909, to reduce
confusion for mail carriers, the east-west streets and 1st Avenue
and 49th Avenue were renamed. The east-west streets were
named after Spanish explorers in ascending alphabetical order in a
southward direction. First Avenue was renamed Arguello Boule-
vard and 49th Avenue was renamed La Playa Street.
To lure home buyers with promises of big houses but needing to
keep prices low, homes were built with large basements (basement
is an unusual feature in California because its weather permits
shallower foundation) with the intention that the buyers can
convert the basements into living space at their own volition.
Essentially marketing a house as two stories with the first story
(basement) unfinished. This decision would prove to be ingenious
as the 20th century evolved, as many of the basements werecon-
verted to garages. Some were converted with garages in the front
and in-law units in the back.
Location Overview
P. 9 COLLIERS INTERNATIONAL OFFERING MEMORANDUM | 419-423 CLEMENT ST
Location Overview
4TH
AVEN
UE
5TH
AVEN
UE
6TH AVENUE
CLEMENT STREET
geary blvd
golden gate park
419-423 Clement Street
P. 10 COLLIERS INTERNATIONAL OFFERING MEMORANDUM | 419-423 CLEMENT ST
GEAR
Y B
LVD
CLEM
ENT
STR
EET
CALI
FORN
IA S
TREE
T
LAKE
STR
EET
Presidio Golf Course
419-423 Clement Street
P. 11 COLLIERS INTERNATIONAL OFFERING MEMORANDUM | 419-423 CLEMENT ST
GEAR
Y B
LVD
PARK PRESIDIO BLVD
ANZA STREET
BALBOA STREET
CABRILLO STREET
FULTON STREET
The Panhandle
Golden Gate Park
COLLIERS INTERNATIONAL101 Second St, 11th FlSan Francisco, CA 94105
tel + 1 415 788 3100fax+ 1 415 433 7844
www.colliers.com
BRIAN LEUNGlic. 01203473Senior Vice President | Investments
direct + 1 415 288 7881email [email protected]
LISA NGlic. 02032528Client Services Coordinator| Investments
direct + 1 415 288 7825email [email protected]
Confidentiality & Disclaimer Statement
This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 419-423 Clement Street, San Francisco, CA 94118. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by 419 Clement Street from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum from 419-423 Clement Street you agree:
1) The Offering Memorandum and its contents are confidential;
2) You will hold it and treat it in the strictest of confidence; and
3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.
Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agree-ment for the purchase and sale of the Property has been fully executed and delivered.
If you wish not to pursue negotiations leading to the acquisition of 419 Clement Street or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date of this Offering Memorandum.
419-423 Clement Street