512-520 GRANT AVENUE SAN FRANCISCO, CA 94108
Mixed-Used Building
6 Residential Units & Commercial Venus Zheng 415.506.8878 CalBRE #02019715 Venus.zheng@compass.com 1699 Van Ness Ave | San Francisco
512-520 GRANT AVENUE SAN FRANCISCO, CA
PROPERTY OVERVIEW 512-520 Grant Avenue is an incredible opportunity to own a mixed-use building in the Financial District. It is conveniently located at a high foot traffic commercial area among Downtown, Union Square and Nob Hill. The building features ground floor commercial space & 6 residential units. The residential units comprise of 1 studio, 2 one-bedroom, and 3 two-bedroom units. The residential units get great light and rear units have beautiful views of downtown, and St. Mary’s Square Park. Five of the six residential units were recently renovated and feature updated floor plans, new floors, kitchen, and bathrooms. All units have separate gas and electric meters and water tanks, and were updated with 60 amp electrical service. Earthquake Seismic retrofit has been completed. The commercial space can be used for retail or as an office space. At street-level you’ll find approximately 1,870 square feet plus a mezzanine with an additional 458 square feet. The full basement adds approximately 2,226 square feet. The owners recently spent approximately $600,000 on capital improvements: complete renovations of 5 of the 6 residential units, lobby & common area improvements, new exterior paint, Fire Alarm System update. Well-situated for both residential and commercial applications, with a walk score of 100 and a transit score of 100. For the residential units, the building is a short walk into the financial district, downtown, SOMA, Trader Joe’s, Target, and 24 Hour Fitness. BART, Muni, and the new Chinatown Central Subway Station ensure easy access throughout the city. For the ground-floor commercial unit, 512-520 Grant is situated right along the heavily trafficked tourist corridor from Union Square, Financial District through Chinatown and out to North Beach.
512-520 GRANT AVENUE SAN FRANCISCO, CA
PROPERTY SUMMARY
•1 Commercial & 6 Residential • $600,000 • Year Built: • Building SQ.Ft •
Venus Zheng | Compass | 415.506.8878 | Venus.Zheng@compass.com | License: 02019715 Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
01
512-520 GRANT AVENUE SAN FRANCISCO, CA
FINANCIAL OVERVIEW Property Summary: District: Financial District Property Type: Mixed- Use Apartment Building Property Mix: $561.94 Price per Unit: $375,000 Year Built: 1908 Parcel Number : 0258-014
Price: Building SqFt (per tax record): Price per SqFt: Price per Unit: Year Built: Parcel Number :
$5,700,000 5,445 $561.94 $375,000 1908 3532-056A
PROPERTY OVERVIEW 512-520 GRANT AVENUE
ASKING PRICE $5,700,000
ANNUAL OPERATING INCOME
SCHEDULED
PRO-FORMA
Annual Income: Vacancy (2% of Gross Income):
$115,698 $2,314
$230,400 $2,314
Annual Expenses: Net Operating Income:
$56,805 $56,578
$56,805 $168,987
GRM: CAP:
19.45 2.51%
9.77 7.51%
ANNUAL EXPENSES
RENT ROLL
New Property Tax: ( est @ 1.18% ) Property Insurance:
$26,550 $2,290
Utilities: (Water, Sewer, Garbage, PG&E) Repair & Maintenance: Annual Expenses:
$18,823 $9,142 $56,805
UNIT #
Move In Date 81 2 3 4 5 6 7 8
Unit Type
Monthly Rent
Projected
04/15/1991 05/01/1992 Vacant 05/01/1985
2BR/1BA 1BR/1BA 2BR/1BA 1BR/1BA
$954.55 $696.59 $3,895.00 $692.56
$4,295.00 $3,695.00 $3,895.00 $3,595.00
05/15/2020 08/31/2019
2BR/1BA 2BR/1BA
$3,995.00 $4,395.00
$3,995.00 $4,395.00
06/01/1996 05/01/1996
Studio Studio
$534.68 $578.23
$1,795.00 $2,495.00
$19,082.06 $228,984.72
$28,160.00 $337,920
Monthly Rental Income: Annual Rental Income:
Venus Zheng | Compass | 415.506.8878 | Venus.Zheng@compass.com | License: 02019715 Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
02
PROPERTY PHOTOS 512-520 GRANT AVENUE
ASKING PRICE $5,700,000
Venus Zheng | Compass | 415.506.8878 | Venus.Zheng@compass.com | License: 02019715 Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
03
PROPERTY PHOTOS 512-520 GRANT AVENUE
RESIDENTIAL UNITS
Venus Zheng | Compass | 415.506.8878 | Venus.Zheng@compass.com | License: 02019715 Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
03
PROPERTY PHOTOS 512-520 GRANT AVENUE
RESIDENTIAL UNITS
Venus Zheng | Compass | 415.506.8878 | Venus.Zheng@compass.com | License: 02019715 Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
05
PROPERTY PHOTOS 512-520 GRANT AVENUE
COMMERCIAL UNIT
Venus Zheng | Compass | 415.506.8878 | Venus.Zheng@compass.com | License: 02019715 Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
03
DISCLAIMER 81 WOODWARD STREET
ASKING PRICE $2,250,000
The information contained in the offering is confidential, furnished solely for the purpose of review by a prospective purchaser of the subject property. The material is based in part upon information supplied and in part upon information obtained by Compass Commercial from sources it deems reasonably reliable. No warranty or representation, expressed or implied, is made by the owner, Compass Commercial, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communications. Without limiting the generality of the foregoing, the information shall not be deemed a representation of the state of affairs of the subject property or constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of the information. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site. The Offering Memorandum was prepared by Compass Commercial. It contains select information pertaining to the subject property and does not purport to be all inclusive or to contain all of the information which a prospective purchaser may desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation. An opportunity to inspect the subject property will be made available to qualified prospective purchasers. In the Offering certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. The Offering is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Compass Commercial or the owner. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the subject property described herein. The owner and Compass Commercial expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offer to purchase the subject property and/or to terminate discussions with any party at any time with or without notice. The owner shall have no legal commitment or obligation to any interested party reviewing the Offering or making an offer to purchase the subject property unless a written agreement for the purchase of the subject property has been fully executed and delivered by the owner and such party and any conditions to the owner’s obligations there under have been satisfied or waived and then only to the extent expressly provided for therein. Compass Commercial is not authorized to make any representations or agreements on behalf of the owner.
Venus Zheng | Compass | 415.506.8878 | Venus.Zheng@compass.com | License: 02019715 Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
04