2585 clay st - loopnet · 2585 clay st. 2585 clay street table of contents offering summary 3...

brian leung Senior Vice Presidentdirect + 1 415 288 7881 email [email protected]. 01203473

Offering Memorandum

Pacific heightS | San franciScO, ca 941152585 Clay St

2585 Clay Street

taBlE OF CONTENTS

OFFERING SUMMARY 3

FINANCIAL OVERVIEW 4

LOCATION OVERVIEW 5

MAPS 7

PROPERTY PHOTOS 9

P. 3 cOllierS internatiOnal OFFERING MEMORANDUM | 2585 Clay Street

InveStment Summary OFFERING SUMMARY

taBlE OF CONTENTS

OFFERING SUMMARY 3

FINANCIAL OVERVIEW 4

LOCATION OVERVIEW 5

MAPS 7

PROPERTY PHOTOS 9

Offering SummaryOffering SuMMarY

colliers international is pleased to present 2585 clay Street, San francisco, ca 94115 for purchase at $4,250,000.00. this is a unique opportunity for an investor/owner-user to purchase a well maintained 6-unit apartment building consisting of (4) 1 br/1 ba units and (2) 2 br/1 ba units in a prime Pacific heights neighborhood. One unit shall be delivered Vacant upon close of escrow. Subject property has a walk score of 98/100, transit score of 85/100, and bike score of 65/100 and is conveniently located near neighborhood shops, parks, public transportation, and california Pacific Medical center.

General Information:address: 2585 clay Street

San francisco, ca 94115

District: Pacific heights

Property Sub type: Multifamily

aPn: 0630-027

building Square feet: 4516 Sf (per tax record)

lot Size: 3,185 Sf (per tax record)

constructed: 1963

Zoning: rh-2

Features:use: apartment

Structure: Semi-Detached

Stories: two Over garage

Parking/garage: Six car garage

exterior: Wood, Stucco

Utilities: Water MeterSeP gas MetersSeP electric Meters

Water/Sewer: Water-Public

Improvements to Building:

• five out of six units have been remodeled

• roof replaced in year 2015

• exterior east side siding replaced

• newer water heater

• all units have newer wall heating units

• exterior - new paint

• upgrades include double pane windows

• interior - common area hallway carpeting and

lighting

P. 4 cOllierS internatiOnal Offering MeMOranDuM | 2585 ClAY StREEt

Investment summary PRICING & FINANCIAl OvERvIEw

loCation: 2585 claY Street, San franciScO, ca 94115

annual GRoSS inCoME

Financial Overview

Expense Categories annual

Water $3,767.62

garbage $3,170.40

r&M&Misc $2,005.65

Prop Mgt $8,134.76

P/i $3,100.00

Pg&e $1,475.73

P/t* $50,116.00

GaE $71,770.16noi $151,198.96

list Price $4,250,000

grM 19.06cap rate 3.56$/Sf $941.09$/unit $708,333.33

annual oPERatinG ExPEnSES

unit no. unit type Move-in Date income

01 Jr. 1 br/1 ba 6/16/17 $2,800.00

02 2 br/1 ba 7/1/06 $2,258.79

03 1 br/1 ba 9/5/13 $3,241.55

04** Vacant Jr. 1 br/1 ba $2,995.00 05 2 br /1 ba 7/1/17 $3,700.00

06 1 br/1 ba 9/1/10 $2,605.42

laundry $280.00

garage** $700.00

MontHly $18,580.76Gai $220,569.12

notES** Projected Income

* Based on Purchase Price


InveStment Summary lOCAtION OvERvIEw

Location Overviewthe citY Of San franciScOWorld-renowned for its scenic beauty, unparalleled amenity base and 24-hour “live/work/play” environment, San francisco has been

a focal point for business in this region for over a century. San francisco has long been recognized as one of the major business

centers worldwide and is both a significant financial headquarters of the Western united States and the primary employment hub for

northern california. San francisco is the bay area’s most densely populated city, with a population of approximately 860,000 that

is projected to grow to 957,000 residents by the year 2035. the city enjoys an excellent transportation infrastructure, a myriad of

cultural resources, proximity to many of the world’s premier educational and research facilities, internationally recognized retailers,

restaurants and hotels, and a reputation as one of america’s most livable urban centers.

San francisco is a major cultural center and is home to a multitude of live theaters, performance venues, and museums. the

San francisco Museum of Modern art (SfMOMa), the first museum on the West coast devoted solely to 20th-century art, is the

centerpiece of the Yerba buena center for the arts and a complement to well-established museums like the De Young Museum, the

newly built california academy of Sciences and the Palace of the legion of honor. the natural landscape of the golden gate Park

furnishes trails for running, hiking, biking, and the San francisco bay is ideal for a wide variety of water sports.

at&t Park, home of the San francisco giants, was completed in 2000 and has continuously drawn close to 3 million fans per season.

the stadium has been the hub of the SOMa neighborhood which has seen tremendous growth in both the commercial and residential

sectors over the past decade. San francisco is home to union Square, one of the foremost shopping districts in the world and the

foundation that underpins San francisco’s strong and growing retail environment, which generates approximately $7.5 billion in annual

sales. the 25-block district is a popular tourist destination and also has an affluent, dependable, loyal customer base throughout San

francisco, the bay area and northern california.


Investment summary lOCAtION OvERvIEw

Neighborhood Overview Pacific heightS | San franciScO

Pacific heights is an affluent neighborhood in San

francisco, california, which is known for the notable

people who reside in the area. residents have included

Oracle co-founder larry ellison, congresswoman nancy

Pelosi, and author Danielle Steel. it is located in one of the

most scenic and park-like settings in northern california,

offering panoramic views of the golden gate bridge, San

francisco bay, the Palace of fine arts, alcatraz, and the

Presidio.

Pacific heights is situated on a primarily east-west

oriented ridge that rises sharply from the Marina

District and cow hollow neighborhoods to the north to

a maximum height of 370 feet above sea level. Pacific

heights features two parks, lafayette and alta Plaza.

Visible to the north are the golden gate bridge, the Marin

headlands, and alcatraz island.

the neighborhood was first developed in the 1870s, with

the building of small Victorian-inspired homes. Starting

around the beginning of the 20th century, and especially

after the 1906 San francisco earthquake, many were

replaced with period homes. Still residential, the area is

characterized by painted Victorian-style architecture.


InveStment Summary MAPS

Maps


Investment summary maPs

Fillmore Street

Site Plan

Aerial view

Clay Street

Sacramento Street

Stei

ner S

treet

2585 clay Street

Fillmore Street


InveStment Summary PhotoS

Property Photos


Investment summary ProPerty Photos


InveStment Summary CONFIdENtIAlItY StAtEMENt

ConfiDEntiality & DiSClaiMER StatEMEnt

this Offering Memorandum contains select information pertaining to the business and affairs of the Property at 2585 clay Street San francisco, ca 94115. it has been prepared by colliers international. this Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. the informa-tion 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 colliers international. the material is based in part upon infor-mation supplied by the Seller and in part upon financial information obtained by 2585 clay Street from sources it deems reliable. 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 2585 clay 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 colliers international 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 2585 clay Street or in the future you discontinue such negotiations, then you agree to purge all mate-rials 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 prospec-tive purchaser have any other claims against Seller or colliers international 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.

COllIERS INtERNAtIONAl101 Second St, 11th flSan francisco, ca 94105

tel + 1 415 788 3100fax+ 1 415 433 7844

www.colliers.com

brian leunglic. 01203473Senior Vice President | investments

direct + 1 415 288 7881email [email protected]

2585 clay st - loopnet · 2585 clay st. 2585 clay street table of contents offering summary 3...

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