8 3 0 RHODE I SL A ND STREET POTRERO HILL MULTI-UNIT BUILDING
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8 3 0 R HODE IS LAND S TR E E T OVE R V IE W: Situated at the top of Potrero Hill 830 Rhode Island is positioned for City, Bay, and East Bay views. The property consists of a non-historic Victorian style Single Family home on a 2,500 sq. ft. lot. The building is delivered with approved
M A RCO CAR VA JA L
full demolition, architectural and structural plans to construct a 4 story
415.699.7484
building with the ability to create 3 condominiums and 2 car stacked parking
DRE#01900765
in its garage. Walking distance to shops, restaurants, gyms, and bus lines.
marco@vanguardsf.com
830 RHODE ISLAND
|
www.830RhodeIsland.com
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830 RH O DE IS LA ND S TREET |
Offered at $2,395,000
I NVEST M ENT O V E R V I E W: Delivered with construction and building plans to create 3 high end residential units with private outdoor spaces and parking. *FULL demo permit attached to the property
UN I T 1 :
UN IT 2:
U NIT 3:
2 bedrooms
2 bedrooms
2 bedrooms
2.5 bathrooms
2.5 bathrooms
2.5 bathrooms
Den / office
Den / office
1,325 sq. ft. of living space
1,480 sq. ft. of living space
1,350 sq. ft. of living space
2 private view decks
2 levels of living
2 levels of living
2 levels of living
657 square foot private yard
Private deck
East and Western views
1 car parking
1 car parking
TOTAL LIVING SPACE
TOTAL OUTDOOR SPACE
TOTAL PARKING
4,155 sq. ft.
1,300 sq. ft.
2-car
830 RHODE ISLAND
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www.830RhodeIsland.com
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8 30 R H O DE IS LAN D - PR OFORM A LAND Equity
$1,470,000
61.3%
counted as equity towards construction loan
Loan
$930,000
38.8%
construction loan take out existing loan of 930k
$2,400,000
Purchase price
Paid to date arch / eng / interest
$0
paid for. any new interest accounted for under interest reserve
Legal, survey, admin, permit issuance
$125,000
condo subdivision & legal, permit pickup fee (est. at 75k) + misc
SOFT COSTS
$125,000 OPERATIONAL prp tax
$40,000
based on contract price for ~17 months
liab & prop ins
$15,000
builders risk property level insurance
Staging
$36,000
12k per unit
$91,000 FINANCING loan fee
$32,250
closing, title
$15,000
good faith deposit
$7,000
1% deposit for construction loan, counted towards equity
$54,250 HARD COSTS hard costs
$1,591,100
contingency
$159,100
10%
$1,750,100
$421 PPSF
TOTAL
$4,420,350
INTEREST RESERVE
$200,000
TOTAL BUDGET
$4,620,350
LOAN AMOUNT
$3,234,245
conservatively - 70% Loan to Cost. Varies bank to bank
EQUITY NEEDED
$1,386,105
30% equity needed to close
EQUITY IN
$1,477,000
initial purchase equity + gf deposit counted towards the construction loan equity required
Addtnl equity needed to close
-$90,895
If neg, bank will not cash out. Equity can go into a deposit account, count towards working capital reserve
ALL COST LESS LAND
$2,020,350
$486 all in PPSF, not including land / initial purchase
FINAL SALE
$5,820,000
$1,401 avg. PPSF
loan payoff
($3,234,245)
payoff construction loan
equity return
($1,386,105)
the sum total of equity in and addtnl equity needed
sales commission
($291,000)
5%
closing costs
($17,460)
transfer tax
($43,650)
PROFIT
0.75%
$847,540
830 RHODE ISLAND
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www.830RhodeIsland.com
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830 RHODE ISLAND - ESTIMATED CONSTRUCTION HARD COSTS ITEM
TO TAL
01 GENERAL REQ.
$10,500
HA R D
Scaffolding
$8,000
Porta Potty
$2,500
02 SITEWORK
N O TE S
$50,000
Prep / Demo / Clean / Dump
$0
included in foundation
Excavation
$0
included in foundation
Sidewalk
$20,000
Landscaping
$20,000
Exterior Fencing
$10,000
03 CONCRETE
$248,000
Concrete Foundation & Slab
$220,000
see attached bid
Gypcrete Floors
$28,000
see attached bid
04 MASONRY
$105,000
Countertops - Quartz
$40,000
Tile Material
$25,000
Tile Install
$40,000
05 METALS
$25,000
All Interior Rails & Guards
$25,000
Structural Steel
$0
06 WOOD & PLASTICS
$347,000
Rough Framing + Structural Steel
$250,000
Front Deck
$8,000
Rear Deck
$14,000
Cabinet Package
$75,000
07 THERMAL & MOISTURE
included in framing
$100,000
Roofing
$35,000
Sheet Metal / Gutters / Downspouts
$5,000
Insulation - Regular Batt
$10,000
Insultation - Spray Foam
$15,000
Exterior Siding & Stucco
$35,000
830 RHODE ISLAND
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www.830RhodeIsland.com
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8 3 0 R H O D E ISLAN D - EST. H ARD COSTS CON TI N UED ITEM
TO TAL
08 DOOR & WINDOWS
$139,000
HAR D
Windows & Doors - Install only
$10,000
Shower Glass + Mirrors
$15,000
Ext. Window & Door Package
$80,000
Door Hardware
$10,000
Doors
$16,000
Garage Door
$8,000
09 FINISHES
$142,000
Drywall
$40,000
Painting - Interior
$30,000
Painting - Exterior
$10,000
All Interior Finish Work
$30,000
Hardwd Floors
$32,000
10 SPECIALTIES
$95,000
Solar Panels
$35,000
Klauss Lift
$60,000
11 EQUIPMENT
$60,000 $200,000
Plumbing - Rough & Finish
$65,000
Radiant Flooring
$50,000
Sprinklers
$35,000
Water Meter / Pipe Upgrade
$25,000
Plumbing Fixtures
$25,000
13 ELECTRICAL
43k for the unit. Estimating additional for install. TBD
$60,000
Appliance Package 12 HVAC & PLUMBING
NO TE S
$70,000
Electrical - Rough & Finish
$40,000
Light Fixtures
$30,000
TOTALS
$1,591,000
10% CONTINGENCY
$159,150
TOTALS
$1,750,650
830 RHODE ISLAND
$1,591,000
|
www.830RhodeIsland.com
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8 3 0 R H O D E ISLAN D - COMPARAB L E SAL ES P OTRERO HI L L
A D D R E SS
S TAT US DAT E
DO M
BD
BA
L ISTIN G D ATE
L IST P RICE
SOL D P RICE
SOLD PRICE PER SQ. FT
310 Carolina St No. 401
7.16.19
29
1
1
5.02.19
$1,450,000
$1,420,000
$1,572.54
310 Carolina St No. 202
7.10.19
32
1
1
5.09.19
$1,290,000
$1,290,000
$1,528.44
1001 17th St No. 201
5.07.19
17
1
1
4.01.19
$799,000
$876 ,000
$1,482.23
310 Carolina St No. 301
4.20.2020
92
1
1
1.09.2020
$1,350,000
$1,320,000
$1,461.79
1916 18th St
6.03.19
28
3
2
4.25.19
$1,895,000
$1,955,000
$1,415.64
1918 18th St
5.13.19
25
3
2
4.12.19
$2,295,000
$2,575,000
$1,503.21
131 Missouri St No. 301
7.03.19
49
2
2
5.02.19
$1,995,000
$1,995,000
$1,361.77
131 Missouri St No. 203
7.10.19
47
2
2
5.17.19
$2,050,000
$2,050,000
$1,343.38
Vanguard Listing
830 RHODE ISLAND
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www.830RhodeIsland.com
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83 0 RHODE I SL AN D CURREN TLY
830 RHODE ISLAND
|
www.830RhodeIsland.com
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830 RHODE ISLAND | PROPOSED NEW CONSTRUCTION
830 RHODE ISLAND
|
www.830RhodeIsland.com
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830 RHODE ISLAND | PROPOSED NEW CONSTRUCTION
830 RHODE ISLAND
|
www.830RhodeIsland.com
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4 1 5 .6 9 9 .7 4 8 4 | ma rc o @ v a n g u a rd s f.c o m | DRE#01900765
w w w.MarcoSellsSF.com
CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 830 Rhode Island Street San Francisco, CA 94107. It has been prepared by Vanguard Properties. 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 Vanguard Properties. The material is based in part upon information supplied by the Seller. 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 830 Rhode Island 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 Vanguard Properties 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 agreement 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 830 Rhode Island 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 Vanguard Properties 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. Market and neighborhood statistics courtesy of SFAR MLS. They were not prepared by Vanguard Properties, and the accuracy of the information has not been verified by Vanguard Properties. Nothing contained herein should be considered to be a legal opinion of any kind and should not be relied upon as such. Š2020zzz Vanguard Properties. All rights reserved. DRE License No. 01486075. Equal Housing Opportunity
2501 MISSION STREET, SAN FRANCISCO CA 94110 415.321.7000 DRE# 01486075
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