419-423 clement street - loopnet · 2019. 2. 11. · direct + 1 415 288 7825 email...

Mixed-Use Investment Opportunity | Inner Richmond Distr ict - San Francisco, CA

Offering Memorandum419-423 Clement Street

BRIAN LEUNGlic. 01203473Senior Vice President | Investments

direct + 1 415 288 7881email [email protected]

LISA NGlic. 02032528Client Services Coordinator| Investments


419-423 Clement StreetTable of ContentsOFFERING SUMMARY 3

FINANCIAL OVERVIEW 4

PROPERTY PHOTOS 5

FLOOR PLANS 6

LOCATION OVERVIEW 8

P. 3 COLLIERS INTERNATIONAL OFFERING MEMORANDUM | 419-423 CLEMENT ST

419-423 Clement StreetOffering Summary Colliers International is pleased to present 419-423 Clement Street, San Francisco, CA 94118 for purchase at $1,750,000. This is a great opportunity for an owner/user or investor to acquire the Fee Simple interest in a 3-unit mixed use building consisting of one ground floor retail unit and two residential units in the Inner

Richmond District. Subject property is on the busy Clement Street corridor which is bustling with neighbor-

hood boutique shops and fantastic restaurants. Subject property is also conveniently located within walking

distance of Golden Gate Park and public transportation to Downtown San Francisco. The area has a Walk

Score of 97/100, Bike Score of 96/100, and Transit Score of 78/100.

General Information:Address:

419-423 Clement Street

San Francisco CA 94118

District: Inner Richmond District

APN: 1437-042

Building Square Feet: 2,880 SF (per tax records)

Lot Size: 2,500 SF (per tax records)

Constructed: 1900

Zoning: Inner Clement

Units: 3

Features:Use: Mixed-Use

Structure: Wood

Stories: 2

Parking/Garage: Street

Utilities: PG&E

Water/Sewer: SF-PUC


LOCATION: 419-423 CLEMENT STREET, SAN FRANCISCO, CA 94118

Annual Gross Income

Financial Overview

Expense Categories Annual

PG&E $255

Insurance $1,696

Water $975

Special Assessment $308

Property Tax $20,515

GAE $23,749

NOI $118,739

List Price $1,750,000

GRM (projected) 12.28

Cap Rate (projected) 6.79

Annual Operating Expenses

Unit # Unit Type Income

419 Clement (vacant) Retail $8,000421 Clement (Front) 1 br/1 ba $1,374

423 Clement (rear vacant) 1 br/1 ba $2,500MONTHLY $11,874GAI $142,488

Financial Overview


Floor Plans

Floor Plans

Retail

Up

Office

Rstrm

Office Office

Laun.

Storage Storage Storage

Covered Patio(*can be used as storage)

Clement St

27'

8'12

'8'

4'

12'

6'

6' 6' 6'

19'

21'

25'

7' 9'

4'

13'

9'12'

10'

7' 6' 4'

11'

15'

17'

34'

Up

Up

Rendering by Floor Plan Visuals.All measurements are approximate. While deemed reliable, no informationon these floor plans should be relied upon without independent verification.

419 CLEMENT STREET

N

FIRST FLOORCommercial Area: 1,450 SQ FTCommon Area: 110 SQ FT

Presented by Lisa Ng, Colliers InternationalTel: 415.288.7825

Email: [email protected] measurements are approximate. While deemed reliable, no information on these floor plans should be relied upon without independent verification.


Floor Plans

All measurements are approximate. While deemed reliable, no information on these floor plans should be relied upon without independent verification.


Location OverviewINNER RICHMOND DISTRICT | SAN FRANCISCO

The Richmond District in San Francisco (not to be confused with

the City of Richmond across the bay) is a long swath of residential

streets that stretches all along the northern border of Golden Gate

Park to the Pacific Ocean.

Given Golden Gate Park to the south, the Presidio to the northeast,

and Lincoln Park on its northwest, the Richmond District doesn’t

lack for outdoor places to picnic, enjoy nature, or go for a hike or

jog. Like Central Park in New York, Golden Gate Park is a venue for

rock concerts (like Outsidelands) and a series of other cultural and

political events. The park is home to the De Young Museum, the

California Academy of Sciences, the Spreckels Temple of Music,

and the SF Botanical Garden.

The Richmond District and the neighboring Sunset District (on the

south side of Golden Gate Park) are often collectively known as

“The Avenues”, because a majority of both neighborhoods are

spanned by numbered north-south avenues. When the city was

originally laid out, the avenues were numbered from 1st to 49th

and the east-west streets were lettered A to X. In 1909, to reduce

confusion for mail carriers, the east-west streets and 1st Avenue

and 49th Avenue were renamed. The east-west streets were

named after Spanish explorers in ascending alphabetical order in a

southward direction. First Avenue was renamed Arguello Boule-

vard and 49th Avenue was renamed La Playa Street.

To lure home buyers with promises of big houses but needing to

keep prices low, homes were built with large basements (basement

is an unusual feature in California because its weather permits

shallower foundation) with the intention that the buyers can

convert the basements into living space at their own volition.

Essentially marketing a house as two stories with the first story

(basement) unfinished. This decision would prove to be ingenious

as the 20th century evolved, as many of the basements werecon-

verted to garages. Some were converted with garages in the front

and in-law units in the back.

Location Overview


Location Overview

4TH

AVEN

UE

5TH

AVEN

UE

6TH AVENUE

CLEMENT STREET

geary blvd

golden gate park



GEAR

Y B

LVD

CLEM

ENT

STR

EET

CALI

FORN

IA S

TREE

T

LAKE

STR

EET

Presidio Golf Course



GEAR

Y B

LVD

PARK PRESIDIO BLVD

ANZA STREET

BALBOA STREET

CABRILLO STREET

FULTON STREET

The Panhandle

Golden Gate Park

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


LISA NGlic. 02032528Client Services Coordinator| Investments


Confidentiality & Disclaimer Statement

This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 419-423 Clement Street, San Francisco, CA 94118. 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 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 Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by 419 Clement 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 419-423 Clement 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 agree-ment 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 419 Clement 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 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.


419-423 clement street - loopnet · 2019. 2. 11. · direct + 1 415 288 7825 email...

Documents