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John Antonini 415.794.9510 [email protected] Daniel Foley 415.866-7997 [email protected] Exclusively Listed by: 672 Castro Street Two Buildings | Five Units | Three Vacant Castro District | San Francisco Price: $3,750,000

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Page 1: 672 Castro Street - LoopNet

Listed by: John Antonini 415.794.9510 Daniel Foley 415.866.7997 672 CASTRO STREET

John [email protected]

Daniel Foley415.866-7997

[email protected]

Exclusively Listed by:

672 Castro StreetTwo Buildings | Five Units | Three Vacant

Castro District | San FranciscoPrice: $3,750,000

Page 2: 672 Castro Street - LoopNet

Listed by: John Antonini 415.794.9510 Daniel Foley 415.866.7997 672 CASTRO STREET

PROPERTY OVERVIEW

672 CASTRO STREETYear Built 1900Parcel Number 2696-011# of Units 5 Units

Unit Mix Three x 3-BedroomTwo x 2-Bedroom

Sq.Feet1 7,216Lot Sq. Feet1 4,120

Neighborhood 5k (Eureka Valley)Zoning RH-3

Parking Street

STRUCTURE + SYSTEMS Roof Bitumen

Hot Water Sep. Water Heaters

Electrical Circuit BreakersHeat Gas Wall & CentralPGE Separately Metered

PROPERTY HIGHLIGHTS

• Two Buildings on One Parcel• Three Units Delivered Vacant and

Move-in Ready• Prime Castro Location Between 19th

& 20th Street• Over 65% Rental Upside• Not on the Soft Story List• Perfect for Owner-Occupier

List Price: $3,750,000

1- Per SF tax records

PRICING SUMMARYPrice $3,750,000Cap Rate 3.13%GRM 20.81Price/Ft $520

Price/Unit $750,000

Page 3: 672 Castro Street - LoopNet

Listed by: John Antonini 415.794.9510 Daniel Foley 415.866.7997 672 CASTRO STREET

RENT ROLL

RENT ROLL

List Price: $3,750,000

UNIT UNIT TYPE Rent (1) ProForma Move In Date Notes

672 3 bedroom $1,182 $6,000 9/14/1995 Front Top

674 3 bedroom $1,082 $6,000 6/24/1980 Front Middle

676 3 bedroom $5,500 $5,500 Vacant Front Lower

674-A 2 bedroom $3,500 $3,750 Vacant Rear Lower

674-B 2 bedroom $3,750 $3,750 Vacant Rear Top

MONTHLY INCOME $15,014 $25,000ANNUAL INCOME $180,177 $300,000

1- Rent for vacant units estimated at market rate. 2- Estimated Rental Upside 67%

Page 4: 672 Castro Street - LoopNet

Listed by: John Antonini 415.794.9510 Daniel Foley 415.866.7997 672 CASTRO STREET

FINANCIAL OVERVIEW

ANNUAL EXPENSE CURRENT NOTES

New Property Taxes $44,347 1.1826% of list price

Insurance $3,801 Actual 2015

Gas & Electric $300 Estimated $25/mo

Water $3,703 Actual 2015

Garbage $2,280 Actual 2015

Repairs & Maintenance $2,500 Estimated $500/unit

Reserves $500 Estimated $100/unit

TOTAL ANNUAL EXPENSES $57,431

FINANCIAL SUMMARY CURRENT PROFORMA

Gross Potential Income: $180,177 $300,000

Less Vacancy Rate (3%): $(5,405) $(9,000)

Less Expenses: $(57,431) $(57,431)

NET OPERATING INCOME: $109,173 $233,569

SUMMARY

Price $3,750,000

Units 5

Square Feet 7,216

Gross Income $180,177

Net Income $117,340

Price/Unit $750,000

GRM 20.81

Price/Ft $519

Cap Rate 3.13%

LOAN NOTESDown Payment $1,875,000 50%

Loan Amount $1,875,000 50%

Annual Debt Service $79,687 Est. 4.25% Interest Only

Net Income $109,173

Cash Flow after Debt Svc. $37,652

Cash on Cash 2.01%

Page 5: 672 Castro Street - LoopNet

Listed by: John Antonini 415.794.9510 Daniel Foley 415.866.7997 672 CASTRO STREET

TWO BUILDINGS ONE PARCEL

Front Building - 3 x 3bd(Units 676, 674-A, 674-B)

Rear Building - 2 x 2bd(Units 672 + 674)

Page 6: 672 Castro Street - LoopNet

Listed by: John Antonini 415.794.9510 Daniel Foley 415.866.7997 672 CASTRO STREET

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EXTERIOR COMMON AREA

UPPER UNIT

Page 7: 672 Castro Street - LoopNet

Listed by: John Antonini 415.794.9510 Daniel Foley 415.866.7997 672 CASTRO STREET

:

APARTMENT INTERIORS

Page 8: 672 Castro Street - LoopNet

Listed by: John Antonini 415.794.9510 Daniel Foley 415.866.7997 672 CASTRO STREET

`

LOCATION VIEWS

Page 9: 672 Castro Street - LoopNet

Listed by: John Antonini 415.794.9510 Daniel Foley 415.866.7997 672 CASTRO STREET

JOHN ANTONINI Lic# 01842830

Senior Vice PresidentDirect: 415.874.5043Mobile: [email protected]

PARAGON COMMERCIAL BROKERAGE

DANIEL FOLEY Lic# 01935359

Vice PresidentDirect: 415.874.5044Mobile: [email protected]

The information contained in the Offering is confidential, furnished solely for the purpose of review by a prospective purchaser of the subject property. The ma-terial is based in part upon information supplied and in part upon information obtained by Paragon Commercial Brokerage from sources it deems reasonably re-liable. No warranty or representation, expressed or implied, is made by the owner, Paragon Commercial Brokerage, or any of their respective affi l iates, 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 l iability is assumed or to be applied in connection with the information or such other communications. Without l imiting 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 Paragon Commercial Brokerage. 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 f inancial projections are provided for gen-eral reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, there-fore, are subject to material change or variation. An opportunity to inspect the subject property will be made available to qualified prospective purchasers.

In this Offering certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descrip-tions 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 recommen-dation, endorsement or advice as to the value of the Property by Paragon Commercial Brokerage or the owner. Each prospective purchas-er is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the subject property described herein.

The owner and Paragon Commercial Brokerage 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. Paragon Commercial Brokerage is not authorized to make any representations or agreements on behalf of the owner.

672 CASTRO STREET