nob hill, san francisco 25-unit apartment building · nob hill, san francisco 25-unit apartment...

NOB HILL, SAN FRANCISCO25-UNIT APARTMENT BUILDING

1010 HYDE STREET

CAM CORWINAssociateLicense [email protected]

MIKE COLHOUNSenior Managing DirectorLicense [email protected]

aptGroup

MATTHEW C. SHERIDANDirectorLicense [email protected]

1010 Hyde StreetOffering Memorandum 2

aptGroupHIGHLIGHTS

SYSTEMSFoundation Brick Structure Wood FrameFaçade Stucco

Roof Tar & Gravel Gas Separtely MeteredHot WaterElectrical 400 AmpsWindows OriginialFlooring Hard Wood & CarpetSeismic Tier 4; RequiredLaundry Off Site

DETAILSPrice $7,500,000 AddressPrice / Unit $300,000 Neighborhood Nob HillPrice / Sq Ft $501 Market Cross Street Pine StGRM 17.63 10.81 Year Built 1907Cap Rate 2.64% 5.93% Total Units 25

Residential Units 24Commerical Units 1Floors 4Square Feet 14,973Land Area 4,356Parcel 0251-015Zoning RC-4Rent Roll Mar-19

2 Vacant Units

OFFERING SUMMARY

PROPERTY HIGHLIGHTS

1010 Hyde St

Boiler + (2) 115-Gal. Storage Tanks

Brick FoundationSeismic Retrofit RequiredTremendous Rental UpsideCorner Store on Month-to-Month Lease

Prominent Nob Hill Mixed-Use Corner Building Adjacent to Saint Francis Hospital and Trader Joe'sOwned by the Same Family for Over 70 Years

Commercial Frontage on Hyde Street


Roof Tar & Gravel Gas Separtely MeteredHot WaterElectrical 400 AmpsWindows OriginialFlooring Hard Wood & CarpetSeismicLaundry Off Site



2 Vacant Units

Tier 4; Required; Plans Approved

OFFERING SUMMARY

PROPERTY HIGHLIGHTS

1010 Hyde St









2 Vacant Units


OFFERING SUMMARY

PROPERTY HIGHLIGHTS

1010 Hyde St









2 Vacant Units


OFFERING SUMMARY

PROPERTY HIGHLIGHTS

1010 Hyde St









2 Vacant Units


OFFERING SUMMARY

PROPERTY HIGHLIGHTS

1010 Hyde St









2 Vacant Units


OFFERING SUMMARY

PROPERTY HIGHLIGHTS

1010 Hyde St







DETAILSPrice $7,500,000 Unit Types AddressPrice / Unit $300,000 Studios 12 Neighborhood Nob HillPrice / Sq Ft $501 One-Bdrms 12 Cross Street Pine StGRM 17.55 Commercial 1 Year Built 1907Cap Rate 2.66% Total 25 Total Units 25


2 Vacant Units

PROPERTY HIGHLIGHTSProminent Nob Hill Corner Building Adjacent to Saint Francis Hospital and Trader Joe'sOwned by the Same Family for Over 70 Years


OFFERING SUMMARY1000-1010 Hyde St

Tremendous Rental UpsideCorner Store on Month-to-Month LeaseBoiler + (2) 115-Gal. Storage Tanks

Seismic Retrofit Required









2 Vacant Units










2 Vacant Units










2 Vacant Units



aptGroupHIGHLIGHTS





2 Vacant Units


OFFERING SUMMARY

PROPERTY HIGHLIGHTS

1010 Hyde St









2 Vacant Units


OFFERING SUMMARY

PROPERTY HIGHLIGHTS

1010 Hyde St









2 Vacant Units


OFFERING SUMMARY

PROPERTY HIGHLIGHTS

1010 Hyde St





Loan Amount* 38% $2,750,000Down Payment 66% $4,750,000

Interest Rate 4.25%Amortization 30 - YearTerm 5 - Year

Michael GrauszSenior Managing DirectorNewmark Knight FrankDebt & Structured Finance Group

License [email protected]

Price $7,500,000 Unit TypesPrice / Unit #DIV/0! Studios 12Price / Sq Ft #REF! One-Bdrms 12GRM 17.55 Commercial 1Cap Rate 2.66% Total 25

OFFERING SUMMARY DESCRIPTION1010 Hyde St is a classic Nob Hill corner apartment building with tremendous upside. At the center of a burgeoning commercial hub, the buildingstands on the corner of Pine and Hyde Streets and sits across from the St. Francis Hospital and Trader Joe’s; and is a quick walk to the FinancialDistrict and Polk Gulch. The property consists of 25 units: 12 One Bedrooms, 12 Studios and 1 Commercial Storefront and is just under 15,000 sqft. Upside opportunities include: renovation of residential units, upgrade and repurpose of commercial storefront and the addition of onsite laundry.The boiler is decommissioned, while a seismic retrofit is required.

FINANCING ASSUMPTIONS







OFFERING SUMMARY DESCRIPTION1010 Hyde St is a classic Nob Hill corner apartment building with tremendous upside. At the center of a burgeoning commercial hub, the buildingstands on the corner of Pine and Hyde Streets and sits across from the St. Francis Hospital and Trader Joe’s; and is a quick walk to the FinancialDistrict and Polk Gulch. The property consists of 25 units: 12 One Bedrooms, 12 Studios and 1 Commercial Storefront and is just under 15,000 sq.ft. Upside opportunities include: renovation of residential units, upgrade and repurpose of commercial storefront and the addition of onsite laundry.The boiler is decommissioned, while a seismic retrofit is required.

Simple Engineering

Engineering plans have been approved by the city and county of SanFrancisco for the proposed seismic retrofit work. The full set of plansare available in our due diligence materials.

SEISMIC RETROFIT

Estimated Cost $146,300 Construction Firm SGDM, LLCEngineering Firm



Michael GrauszSenior Managing DirectorLicense 01116237

[email protected]


OFFERING SUMMARY DESCRIPTION1010 Hyde St is a classic Nob Hill corner apartment building with tremendous upside. At the center of a burgeoning commercialhub, the building stands on the corner of Pine and Hyde Streets and sits across from the St. Francis Hospital and Trader Joe’s; andis a quick walk to the Financial District and Polk Gulch. The property consists of 25 units: 12 One Bedrooms, 12 Studios and 1Commercial Storefront and is just under 15,000 sq ft. Upside opportunities include: renovation of residential units, upgrade andrepurpose of commercial storefront and the addition of onsite laundry. The boiler is decommissioned, while a seismic retrofit isrequired.


Simple Engineering

Engineering plans have been approved by the city and county of SanFrancisco for the proposed seismic retrofit work. The full set of plansare available in our due diligence materials.

SEISMIC RETROFIT

Estimated Cost $146,300 Construction Firm SGDM, LLCEngineering Firm







OFFERING SUMMARY DESCRIPTION1010 Hyde St is a classic Nob Hill corner apartment building with tremendous upside. At the center of a burgeoning commercial hub, the buildingstands on the corner of Pine and Hyde Streets and sits across from the St. Francis Hospital and Trader Joe’s; and is a quick walk to the FinancialDistrict and Polk Gulch. The property consists of 25 units: 12 One Bedrooms, 12 Studios and 1 Commercial Storefront and is just under 15,000 sq.ft. Upside opportunities include: renovation of residential units, upgrade and repurpose of commercial storefront and the addition of onsite laundry.The boiler is decommissioned, while a seismic retrofit is required.


aptGroupGROUND FLOOR/COMMERCIAL AS-BUILTS

COMMERCIAL SPACE: 2,151.62 SQ. FT.CURRENT RENT: $5,000LEASE TERMS: MTMPRO FORMA RENT: $7,000


aptGroupRESIDENTIAL AS-BUILTS


aptGroupPHOTOGRAPHS


aptGroupRENT ROLL

105 Studio Vacant $1,800 $1,800 100%106 Studio Occupied $1,100 $1,800 61%107 Studio Occupied $600 $1,800 33%201 1 Bdrm Occupied $750 $2,400 31%202 1 Bdrm Occupied $900 $2,400 38%203 1 Bdrm Occupied $1,055 $2,300 46%204 Studio Vacant $2,000 $2,000 100%205 Studio Occupied $823 $1,850 44%206 Studio Occupied $2,000 $1,850 108%207 1 Bdrm Occupied $1,065 $2,400 44%301 1 Bdrm Occupied $2,140 $2,450 87%302 1 Bdrm Occupied $889 $2,450 36%303 1 Bdrm Occupied $2,300 $2,300 100%304 Studio Occupied $1,100 $2,000 55%305 Studio Occupied $975 $1,875 52%306 Studio Occupied $820 $1,875 44%307 1 Bdrm Occupied $767 $2,450 31%401 1 Bdrm Occupied $867 $2,500 35%402 1 Bdrm Occupied $1,378 $2,500 55%403 1 Bdrm Occupied $2,400 $2,400 100%404 Studio Occupied $1,800 $2,100 86%405 Studio Occupied $835 $1,900 44%406 Studio Occupied $904 $1,900 48%407 1 Bdrm Occupied $1,335 $2,500 53%1000 Nob Hill Liquors MTM $7,000 $7,000 100%

$37,603 $58,800 64%

$451,236 $705,600ANNUAL INCOME

MONTHLY INCOME

UNIT % MARKETMARKETCURRENTTYPE STATUS

*

*Projected


aptGroupUNDERWRITING

RESIDENTIAL INCOME $367,236 $621,600 Current

VACANCY LOSS ($11,017) 3.00% ($18,648) 3.00% Estimate

COMMERCIAL INCOME $84,000 $84,000 Current

VACANCY LOSS ($4,200) 5.00% ($4,200) 5.00% Estimate

TOTAL INCOME $436,019 $682,752PROJECTED EXPENSES

TAXES $87,225 1.16% $87,225 1.16% New Value

INSURANCE $16,219 $16,219 Quote - Heffernan Insurance

PG&E $9,504 $9,504 2018 Actuals

WATER $30,038 $30,038 2018 Actuals

GARBAGE $26,494 $26,494 2018 Actuals

REPAIRS AND MAINTENANCE $15,000 $15,000 Estimate - $600/Unit

ELEVATOR SERVICE $1,360 $1,360 2018 Actuals

MANAGEMENT FEE $21,801 5.00% $34,138 5.00% Estimate - 5% of Gross Income

TOTAL EXPENSES $207,640 48% $219,977 32%

NET OPERATING INCOME $228,379 $462,775

NOTESMARKETCURRENTGROSS INCOME

10

SAN FRANCISCO655 Montgomery Street, Suite 1705San Francisco, California 94111

MATTHEW C. SHERIDANDirectorLicense [email protected]

MIKE COLHOUNSenior Managing DirectorLicense [email protected]

aptGroupCAM CORWINAssociateLicense [email protected]

nob hill, san francisco 25-unit apartment building · nob hill, san francisco 25-unit apartment...

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