16
1200 FRANCISCO STREET San Francisco, CA OFFERING MEMORANDUM
1 2 0 0 F R A N C I S C O S T R E E TS a n F r a n c i s c o , C A
O F F E R I N GM E M O R A N D U M
1200 FRANCISCO STSan Francisco, CA
Sanford SkeieSenior Vice President Investments
Marcus & MillichapDirect: (415) 625-2153
[email protected] CA 00982336
Cl inton Tex torFirst Vice President Investments
Marcus & MillichapDirect: (415) 625-2157
[email protected] CA 01318639
L I S T I N G A G E N T S
N O N - E N D O R S E M E N T & D I S C L A I M E R N O T I C E
C O N F I D E N T I A L I T Y & D I S C L A I M E R
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus
& Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared
to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained
herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect
to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements,
the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon,
or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained
in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information
contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service
mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2018 Marcus & Millichap. All rights reserved.
N O N - E N D O R S E M E N T N O T I C EMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's
logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or
any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to
prospective customers. Activity ID: ZAA0020506
OFFICES THROUGHOUT THE U.S. AND CANADAwww.marcusmillichap.com
OFFERING HIGHLIGHTS
OFFERING PRICE
$6,300,000$/FOOT
$521/SF
VITAL DATA
Price $6,300,000
Cap Price 2.37
Per Unit $700,000
Gross Square Feet 12,075 SF
GRM 25.89
1200 FRANCISCO STREETS A N F R A N C I S C O , C A
E X E C U T I V E S U M M A R Y 2
E X E C U T I V E S U M M A R Y 3
INVESTMENT OVERVIEW1200 Francisco Street is a magnificent 9-unit wood framed apartment building built in 1923. The 12,075 square foot property sits on a concrete foundation at the southwest corner of Francisco Street and Van Ness Avenue.
The beautiful Marina District is home to some of the most desirable real estate on the West Coast. Steps to Fort Mason, Crissy Field and Moscone Park Recreation Area the neighborhood provides countless attractions for residents to enjoy. An extremely popular neighborhood for students, young professionals and residents that prefer the outdoor active lifestyle. The neighborhood has it all, from the shopping and restaurants on Chestnut and Union streets, to the Marina Green and access to the San Francisco Bay. It’s a true walker’s neighborhood where many of the residents don’t need a car or can easily use the abundant forms of public transportation. With ample amounts of attractions, shopping and nightlife, the Marina is a very desirable neighborhood for young and old alike.
The Marina style building is comprised of 3 stories of very large units over a lobby and parking and garden area. The apartments are serviced by an elevator with a unit mix consisting of six two-bedroom units and three large, 4 room, one bedroom units. Much of the building has been upgraded over the past 18 months, including, soft story retrofit work, new paint, security cameras, new carpet, and waterproofing. The building offers tenants a laundry room in the basement and some vacant storage units that can add to the income.
The electrical systems is separately metered and has 400 amp service. The gas service is also separately metered and the units have steam heat provided by a newer boiler system. The units are well appointed and have hardwood floors, large closets and tile bathrooms. Some of the units have been upgraded with granite counters and new cabinets.
1200 Francisco Street offers an investor the opportunity to purchase a large, well maintained apartmentproperty with a great deal of future upside potential in the rents.
► $521/SF Price
► Extremely Well-Maintained Marina Property
► Huge 12,075 SF Corner Building
► Nine Very Large Units with Parking
► Tremendous Rental Upside
► Significant ADU Potential
► Soft Story Compliant
INVESTMENT HIGHLIGHTS
PROPERTY DETAILS
1200 FRANCISCO
Property Address 1200 Francisco St, San Francisco, CA 94123
Number of Units 9
Price Per Unit $700,000
Price Per SqFt $521.74
Gross SqFt 12,075
Lot Size 4,612 SF
Approx. Year Built 1923
E X E C U T I V E S U M M A R Y 4
AERIAL MAP
1
Fort Mason Lombard Street Roam Artisan Burgers Balboa Cafe Apple Store
Fisherman’s Wharf SusieCakes Radhause Atelier Crenn Barry’s Bootcamp
Ghirardelli Square Perry’s Bobo’s Chubby Noodle Equinox
The Palace of Fine Arts Rose’s Cafe Starbucks Greens Presidio Theatre
Presidio Flores Tacolicious Safeway SoulCycle
1
2
5
4
3
7
8
6
10
9
12
13
11
15
14
16
17
20
19
18
21
22
25
24
23
3
2
4
9
8
6
5
13
11
20
19
18
16
15
1200 FRANCISCO ST
25
24
2310
12
14
14
7
17
21
22
E X E C U T I V E S U M M A R Y 5
NDISCLAIMER: RENDERING BY OPEN HOMES PHOTOGRAPHY. ALL MEASUREMENTS ARE APPROXIMATE AND MAY NOT BE EXACT. DO NOT RELY ON THE ACCURACY OF THIS FLOOR PLAN WHEN DETERMINING THE PRICE OF A PROPERTY OR MAKING DECISIONS REGARDING BUYING OR SELLING OF PROPERTIES WITHOUT INDEPENDENT VERIFICATION.
PROPERTY SQ FT INFORMATION LIVING SPACE: 3303 Sq Ft
* UNIT 4: 1177 Sq Ft* UNIT 5: 963 Sq Ft* UNIT 6: 1163 Sq Ft
1200 FRANCISCO STSAN FRANCISCO, CALIFORNIA
BEDROOM BEDROOM
BEDROOM
BEDROOMLIVING ROOM
BEDROOM
CLCL
CLCL
CL
CL
CL
CLCL
CL
CL
REF
REF
REF
BATH BATHBATH
FOYER
FOYER
FOYER
KITCHEN
KITCHEN
KITCHENDINING
AREA
DININGAREA
DININGAREA
LIVINGROOM
LIVINGROOM
MAINENTRY
UNIT #4
MAINENTRY
UNIT #5
MAINENTRY
UNIT #6
12’-1” X 13’-9”12’-1” X 13’-9”
13’-7” X 17’-11”
13’-7” X 17’-11”
13’-7” X 18’-1” 13’-7” X 18’-1”
6’-10” X 9’-10”6’-10” X 9’-10”
12’-7” X 9’-10”
12’-7” X 9’-10”
12’-6” X 3’-11”12’-6” X 3’-11”
5’-3” X 7’-10”8’-10” X 4’-6”
6’-10” X 7’-8”
13’-3” X 17’-1” 12’-10” X 13’-10”6’-6” X 13’-10”
12’-7” X 13’-10”
3’-3” X 2’-3”
6’-2” X 4’-5”
4’-7” X 7’-9” 5’-3” X 7’-10”
3’-1” X 3’-2”3’-1” X 3’-2”
3’-1
0” X
5’-6
”3’
-11”
X 7
’-10”
3’-1
0” X
5’-6
”3’
-11”
X 7
’-10”
Floor Plan
NDISCLAIMER: RENDERING BY OPEN HOMES PHOTOGRAPHY. ALL MEASUREMENTS ARE APPROXIMATE AND MAY NOT BE EXACT. DO NOT RELY ON THE ACCURACY OF THIS FLOOR PLAN WHEN DETERMINING THE PRICE OF A PROPERTY OR MAKING DECISIONS REGARDING BUYING OR SELLING OF PROPERTIES WITHOUT INDEPENDENT VERIFICATION.
PROPERTY SQ FT INFORMATION LIVING SPACE: 3303 Sq Ft
* UNIT 4: 1177 Sq Ft* UNIT 5: 963 Sq Ft* UNIT 6: 1163 Sq Ft
1200 FRANCISCO STSAN FRANCISCO, CALIFORNIA
BEDROOM BEDROOM
BEDROOM
BEDROOMLIVING ROOM
BEDROOM
CLCL
CLCL
CL
CL
CL
CLCL
CL
CL
REF
REF
REF
BATH BATHBATH
FOYER
FOYER
FOYER
KITCHEN
KITCHEN
KITCHENDINING
AREA
DININGAREA
DININGAREA
LIVINGROOM
LIVINGROOM
MAINENTRY
UNIT #4
MAINENTRY
UNIT #5
MAINENTRY
UNIT #6
12’-1” X 13’-9”12’-1” X 13’-9”
13’-7” X 17’-11”
13’-7” X 17’-11”
13’-7” X 18’-1” 13’-7” X 18’-1”
6’-10” X 9’-10”6’-10” X 9’-10”
12’-7” X 9’-10”
12’-7” X 9’-10”
12’-6” X 3’-11”12’-6” X 3’-11”
5’-3” X 7’-10”8’-10” X 4’-6”
6’-10” X 7’-8”
13’-3” X 17’-1” 12’-10” X 13’-10”6’-6” X 13’-10”
12’-7” X 13’-10”
3’-3” X 2’-3”
6’-2” X 4’-5”
4’-7” X 7’-9” 5’-3” X 7’-10”
3’-1” X 3’-2”3’-1” X 3’-2”
3’-1
0” X
5’-6
”3’
-11”
X 7
’-10”
3’-1
0” X
5’-6
”3’
-11”
X 7
’-10”
NDISCLAIMER: RENDERING BY OPEN HOMES PHOTOGRAPHY. ALL MEASUREMENTS ARE APPROXIMATE AND MAY NOT BE EXACT. DO NOT RELY ON THE ACCURACY OF THIS FLOOR PLAN WHEN DETERMINING THE PRICE OF A PROPERTY OR MAKING DECISIONS REGARDING BUYING OR SELLING OF PROPERTIES WITHOUT INDEPENDENT VERIFICATION.
PROPERTY SQ FT INFORMATION LIVING SPACE: 3303 Sq Ft * UNIT 4: 1177 Sq Ft * UNIT 5: 963 Sq Ft * UNIT 6: 1163 Sq Ft
1200 FRANCISCO STSAN FRANCISCO, CALIFORNIA
BEDROOM BEDROOM
BEDROOM
BEDROOMLIVING ROOM
BEDROOM
CLCL
CLCL
CL
CL
CL
CLCL
CL
CL
REF
REF
REF
BATH BATHBATH
FOYER
FOYER
FOYER
KITCHEN
KITCHEN
KITCHENDINING
AREA
DININGAREA
DININGAREA
LIVINGROOM
LIVINGROOM
MAINENTRY
UNIT #4
MAINENTRY
UNIT #5
MAINENTRY
UNIT #6
12’-1” X 13’-9”12’-1” X 13’-9”
13’-7” X 17’-11”
13’-7” X 17’-11”
13’-7” X 18’-1” 13’-7” X 18’-1”
6’-10” X 9’-10”6’-10” X 9’-10”
12’-7” X 9’-10”
12’-7” X 9’-10”
12’-6” X 3’-11”12’-6” X 3’-11”
5’-3” X 7’-10”8’-10” X 4’-6”
6’-10” X 7’-8”
13’-3” X 17’-1” 12’-10” X 13’-10”6’-6” X 13’-10”
12’-7” X 13’-10”
3’-3” X 2’-3”
6’-2” X 4’-5”
4’-7” X 7’-9” 5’-3” X 7’-10”
3’-1” X 3’-2”3’-1” X 3’-2”
3’-1
0” X
5’-6
”3’
-11”
X 7
’-10”
3’-1
0” X
5’-6
”3’
-11”
X 7
’-10”
6P R O P E R T Y D E S C R I P T I O N
7P R O P E R T Y D E S C R I P T I O N
8P R O P E R T Y D E S C R I P T I O N
9P R O P E R T Y D E S C R I P T I O N
10P R O P E R T Y D E S C R I P T I O N
F I N A N C I A L A N A L Y S I S 11
PRICING DETAILPRICE $6,300,000
Down Payment ALL CASH
Number of Units 9
Price Per Unit $700,000
Price Per SqFt $521.74
Gross SqFt 12,075
Lot Size 4,612
Approx. Year Built 1923
RETURNS CURRENT PRO FORMA
CAP Rate 2.37% 4.95%
GIM 25.89 15.22
Cash-on-Cash 1.03% 4.71%
Debt Coverage Ratio 1.44 3.00
# OF UNITS UNIT TYPE APPROX SQFT/UNIT
6 5 Room 1,170
3 4 Room 963
PRICING DETAILINCOME CURRENT YEAR 1
Gross Scheduled Rent $243,348 $414,000
Less: Vacancy/Deductions 2.0% $4,867 2.0% $8,280
Total Effective Rental Income $238,481 $405,720
Other Income $13,132 $32,400
Effective Gross Income $251,613 $438,120
Less: Expenses 40.6% $102,221 28.9% $126,486
Net Operating Income $149,392 $311,634
Cash Flow $149,392 $311,634
EXPENSES CURRENT YEAR 1
Real Estate Taxes $71,931 $74,290
Insurance $5,600 $5,600
Utilities - Electric $1,800 $1,800
Utilities - Water & Sewer $4,500 $4,500
Utilities - Gas $9,600 $9,600
Trash Removal $1,140 $1,140
Repairs & Maintenance $4,500 $4,500
Alarm Monitoring/Inspection $150 $150
Operating Reserves $3,000 $3,000
Management Fee $0 $21,906
Total Expenses $102,221 $126,486
Expenses/Unit $11,358 $14,054
Expenses/SF $8.47 $10.48
F I N A N C I A L A N A L Y S I S 12
RENT ROLL
1
2
3
4
5
6
7
8
9
Per Month
2 Bedroom
1 Bedroom
2 Bedroom
2 Bedroom
1 Bedroom
2 Bedroom
2 Bedroom
1 Bedroom
2 Bedroom
$19,765.15
UNIT NUMBER UNIT TYPE APPROXSQ FT*
$2,329
$2,361
$2,362
$2,123
$2,372
$1,911
$2,648
$2,224
$1,949
$20,279
CURRENT RENT/MONTH
$2,329
$2,361
$2,362
$2,123
$2,372
$1,911
$2,648
$2,224
$1,949
$20,279
1,177
963
1,163
1,177
963
1,163
1,177
963
1,163
12,075
$3,900
$3,700
$3,900
$3,900
$3,700
$3,900
$3,900
$3,700
$3,900
$34,500
SCHEDULED RENT/MONTH
POTENTIAL RENT/MONTH
*Approximate SqFt per renderings by Open Homes Photography
F I N A N C I A L A N A L Y S I S 13
1200 FRANCISCO STREETSan Francisco, CA
O F F E R I N G M E M O R A N D U M
Cl inton Tex torFirst Vice President Investments
Marcus & MillichapDirect: (415) 625-2157
[email protected] CA 01318639
Sanford SkeieSenior Vice President Investments
Marcus & MillichapDirect: (415) 625-2153
[email protected] CA 00982336
