offering memorandum 1500 powell street

Brian LeungCA License No. 01203473(415) 278 [email protected]

Jeremy LeeCA License No. 01951309(415) 988 [email protected]

IntegrityKnowledgeLeadership

1500 Powell Street29 Unit Mixed-Use/Multifamily Building in Nob Hill

Offering Memorandum

New Price

2 Offering Memorandum | LL CRE Group

The building consists of 27 SROs and 2 Commercial Units. Located just north of Nob Hill and Downtown San Francisco and near Chinatown and Fisherman’s Wharf, North Beach is a popular tourist destination, but is equally favored by locals who appreciate its eclectic dining, lively nightlife, and diverse charm. Bus lines on nearby Stockton Street, Columbus Avenue and Union Street provide easy access to various parts of the City.

This is a unique opportunity for investors to acquire a mixed-use asset with tremendous income upside potential in a great location.

LL CRE is pleased to present for sale 1500 Powell Street/790 Vallejo Street, a Mixed-Use Residential Hotel located in San Francisco’s vibrant North Beach.

Price Per Unit

New Price Total Units

GRM

Lot Size

CAP Rate

Building Size

Price Per Square Foot

$120,345

$3,490,000 29 Units

10.70

0.07 Acres

5.31%

8,660 SF

$403.00

Corner Building in the Bustling North Beach of San Francisco

70’ of Frontage on Powell & 45’ of Frontage on Vallejo St

Large Commercial Spaces with Full Footprint Basements

1500 Powell Street 3

Unit Number Current Rent Market Rent Unit Notes1500 $5,000 $5,000 Vacant1504 $2,600 $2,600 1 $286.37 $900.00 2 $900.00 $900.00 Vacant3 $713.51 $900.00 4 $423.90 $900.00 5 $550.00 $900.00 6 $547.46 $900.00 8 $900.00 $900.00 Vacant9 $900.00 $900.00 Vacant10 $637.62 $900.00 11 $900.00 $900.00 Vacant12 $900.00 $900.00 Vacant12.5 $900.00 $900.00 Vacant14 $790.94 $900.00 15 $823.35 $900.00 16 $769.35 $900.00 18 $587.05 $900.00 19 $696.68 $900.00 20 $900.00 $900.00 Vacant21 $900.00 $900.00 Vacant23 $350.19 $900.00 24 $900.00 $900.00 Vacant25 $554.43 $900.00 26 $900.00 $900.00 Vacant27 $531.33 $900.00 28 $900.00 $900.00 Vacant29 $900.00 $900.00 Vacant30 $519.78 $900.00

$27,181.96 $31,900.00

Rent Roll


Income

Expenses

Income Summary Scheduled Proforma

Commercial Rents $91,200.00 $91,200.00 Residential Rents $234,983.52 $291,600.00 Vacancy (5%) $(11,749.18) $(14,580.00)Gross Income $314,434.34 $368,220.00

Expense Summary Scheduled Proforma Notes

Property Taxes $41,826.38 $41,826.38 1.1984% of PriceInsurance $8,220.00 $8,220.00 Quote from Commercial CoverageGarbage $21,600.00 $21,600.00 2019 P&LWater $12,600.00 $12,600.00 2019 P&LPGE $10,274.52 $10,274.52 2019 P&LRepairs & Maintenance $8,700.00 $8,700.00 $300/unitResident Manager $7,200.00 $7,200.00 $600/monthManagement $18,866.06 $22,093.20 6% of Gross IncomeGross Expenses $129,286.96 $132,514.10

Expense % of Gross Income 41.12% 35.99%

Net Operating Income $185,147.38 $235,705.90


Location Summary

Crowned by the iconic Coit Tower atop Telegraph Hill and packed with an amazing history as the home of the progressive “Beat Generation”, North Beach is the charming and lively neighborhood that is a popular tourist and local destination.

From the culinary delights and exceptional nightlife of Little Italy along Columbus Street to the calm serenity of a picnic at Washington Square, North Beach has much to offer to satisfy discerning the residents, workers and tourists of San Francisco.

North Beach isn’t simply a place for recreation and residence, it is also home to a number of prominent companies such as Levi’s Strauss, ABC 7 News, KRON 4, BAR Architects, Vungle Inc. and New Deal Design Inc, making this a truly dynamic neighborhood.

North Beach is also home to the Exploratorium, a popular science museum with hundreds of interactive exhibits, and to the James R. Herman Cruise terminal, which hosts more than 80 cruise ships and 300,000 passengers annually.


Within a 10-Minute Walk:

Washington SquareRussian Hill

Broadway

North Beach

Grace Cathedral

Chinatown

Financial District

• More than 45 restaurants with a Yelp rating of 4 stars or better.

• Broadway traffic corridor• Chinatown• North Beach• Russian Hill• North Financial District• Jackson Square

• Betty Ong Recreational Center• Grace Cathedral• Portsmouth Square Park• Washington Square

• Chinese Hospital• Jean Parker Elementary School• Gordon J Lau Elementary School

Picturesque park in a historic European inspired Neighborhood

Classic, timeless neighborhood most synonomous with San Francisco

Serves as the primary connection between east and west San Francisco

The city’s busy “Little Italy”, considered to have the best nightlife in the area.

One of the City’s oldest Catholic parishes, founded in 1849

The world’s largest and most established Chinatown outside of Asia.

The skyscraper-lined business center of San Francisco.

1500 Powell Street


Major Employers - San Francisco

9,100 Employees

3,524 Employees

2,337 Employees

1,913 Employees

7,296 Employees

3,500 Employees

2,300 Employees

1,820 Employees

6,153 Employees

3,000 Employees

2,111 Employees

1,792 Employees

6,134 Employees

2,723 Employees

2,000 Employees

1,700 Employees

5,500 Employees

2,543 Employees

2,000 Employees

1,678 Employees

5,500 Employees

2,500 Employees

1,964 Employees

1,661 Employees

4,500 Employees

2,488 Employees

1,962 Employees

1,537 Employees

(Formerly Dignity Health)


Central Subway

1500 Powell Street


Financial Financial DistrictDistrict

SOMASOMA

Mission Mission DistrictDistrict

Potrero Hill/Potrero Hill/DogpatchDogpatch

Mission BayMission Bay

The CastroThe Castro

Hayes Hayes ValleyValley

Union Union SquareSquare

North North BeachBeach

Nob HillNob Hill

Fillmore Fillmore DistrictDistrict

Western Western AdditionAdditionNorth of North of

PanhandlePanhandle

Lower Pacific Lower Pacific HeightsHeights

Pacific HeightsPacific Heights

Cow Cow HollowHollow

Height Height AshburyAshbury

Presidio Presidio HeightsHeights

Duboce Duboce TriangleTriangle

1500 Powell Street


1500 Powell StreetOffering Memorandum

Brian LeungCA License No. 01203473(415) 278 [email protected]

Jeremy LeeCA License No. 01951309(415) 988 [email protected]

All materials and information received or derived from LL CRE and COMPASS its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial perfor-mance of the property for any party’s intended use or any and all other matters.

Neither LL CRE and COMPASS its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. LL CRE and COMPASS will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. LL CRE and COM-PASS makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. LL CRE and COMPASS does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by LL CRE OR COMPASS in compliance with all applicable fair housing and equal opportunity laws.

offering memorandum 1500 powell street

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