Introducing The Fell Street Apartments 802-806 Fell Street www.FellStreetApartments.com

Ofered By For your consideration Joshua Silverman Realtor (415) 230-8887 802 - 806 Fell Street [email protected] Lic # 01882355 www.RMCProperties.com San Francisco Table of Contents

Ofering Summary – PAGE 3 Income-Expense Summary – PAGE 4 Financial Analysis – PAGE 5 The Property – PAGE 6-7 The Location – PAGE 8-9 Disclaimer – PAGE 12

2 Ofering Summary General Information

The Fell Street Apartments - Welcome to 802-806 Fell Street Units: 6 in San Francisco, a Edwardian six-unit apartment building tucked Building Sq Ft: 8,415 between Alamo Square Park, Hayes Valley and Lower Haight. The Lot Size Sq Ft: 3,125 three-story building consists of six very large residential units Year Built: 1910 over laundry and storage space. Five of the six units are tenant- District: Alamo Square/Hayes Valley occupied, don’t miss the fully renovated vacant unit (806 Fell APN: 0822-008 Zoning: RM1 (Residential - Mixed, Low Density) Street). Unit mix consists of 2-4 bedrooms/1 bathroom, all units MLS No: 491764 with living and dining rooms. The average square footage of each apartment is roughly 1,400. LOW price per square foot at $416 with Price: $3,500,000 accompanying 47% upside in rents. Units are separately metered Price Per Unit: $583,333 for PG&E. Price Per Sq Ft: $416 CAP Rate: 4.39% The location can’t be beat - no car is necessary here with a walk GRM:14.7 score of 96. Equidistant to the terrific dining and shopping options of Divisadero Street and Hayes Street. Public transportation is a Ofered By breeze with numerous Muni lines converging in the area and plenty of tech shuttle stops nearby. Joshua Silverman Realtor (415) 230-8887 [email protected] Lic # 01882355 3 Income Expense Summary

RENT ROLL Unit No Unit Type Approx Sq Ft Current Rent Market Rent 615 Fillmore St 2Bd+/1Ba 1403 $2,608 $5,500 617 Fillmore St 3Bd+/1Ba 1403 $2,974 $5,500 619 Fillmore St 2Bd+/1Ba 1403 $2,451 $4,000 802 Fell St 3Bd/1Ba 1403 $1,627 $4,000 804 Fell St 2Bd+/1Ba 1403 $5,200 $5,200 806 Fell St (vacant) 2Bd+/1Ba 1403 $5,200 $5,200 Monthly Laundry Income $149 $149

Total Monthly Income $20,208 $29,549 47% upside in rents GROSS ANNUAL INCOME $237,685 $347,528

ANNUAL EXPENSES

Description Current Exp/Unit %/Exp Notes Property Management $12,036 $2,006 14% Based on 5% property mgmt fee Property Taxes $41,304 $6,884 49% Based on sale price of $3,500,000 Special Assessments $1,373 $275 2% Current cost Insurance $7,314 $1,463 9% Current cost Water $7,238 $1,448 9% Current cost Garbage $2,498 $500 3% Current cost Electric/Gas $1,405 $281 2% Current cost Pest Control $912 $182 1% Current cost Common Area Cleaning $4,110 $822 5% Current cost Repairs & Maintenance $6,000 $1,200 7% Based on $1,000 per unit

GROSS ANNUAL EXPENSES $84,190 $15,060 100%

4 Financial Analysis

PROPOSED FINANCING Notes Purchase Price $3,500,000 Down Payment $1,750,000 Loan Amount $1,750,000 50% Loan-to-Value Interest Rate 3.85% Recent Chase Quote Loan Terms 5 Yr Fixed Monthly Payment $9,376 Principal and Interest

CASH FLOW ANALYSIS Current Market Notes Gross Annual Income $240,716 $352,800 Vacancy (2%) $4,814 $7,056 Adjusted Gross Income $237,685 $347,528 Includes laundry income Annual Expenses $84,190 $89,794 Net Operating Income $153,495 $257,734 Less Debt Service $98,450 $98,450 Cash Flow $55,045 $159,284 Cash-on-Cash Return 3.15% 9.10%

FINANCIAL SUMMARY

Purchase Price $3,500,000 Down Payment $1,750,000 Price/Unit $583,333 Price/Sq Ft $416 CAP Rate Current 4.39% GRM Current 14.7 CAP Rate Proforma 7.36% GRM Proforma 9.9 5 The Property Take advantage of the significant upside of owning this beautiful multi-unit building near picturesque Alamo Square Park. The building maintains much of its original charm and gorgeous architectural details. The Fell Street Apartments boasts a nice unit mix of 2-4BDs/1BA units, all with living and dining rooms. It’s also a terrific opportunity for an owner-occupant to live in the vacant top-floor unit at 806 Fell Street.

Building Features:

• Foundation: Concrete perimeter • Roof: Flat, modified bitumen, serviceable condition • Appliances: All apartments come equipped with gas stoves, refrigerators, dishwashers in five of six units, and garbage disposals in three of six units. • Heating: Gas wall heaters. • A/C: None • Hot water: One gas water heater per unit in basement. • Laundry: Two sets of coin-operated washer/dryers in basement; seller-owned. • Floor covering: Carpet and vinyl. • Ceilings: Box beam ceilings in many rooms. • Walls: Original wainscoting present in many rooms. • Fireplaces: In every unit but functionality is unknown, and they appear to be strictly ornamental. • Security Gates: One on each side of the building covering three units each. • Seismic Reinforcement: See “Soft Story Seismic Retrofit” drawings by Double D Engineering. • Parking: None

6 7 8 The Location

According to walkscore.com - 802-806 Fell Street boasts terrific scores of 96 for Walkability (“Walker’s Paradise”) and 98 for Public Transportation Access (“Rider’s Paradise”). A car is a luxury and not a necessity when living at The Fell Street Apartments. Enjoy all of the culture and dynamism of the surrounding areas which include numerous excellent shopping and dining options. Within a half mile explore the vibrant and fun commercial districts of Fillmore Street (Fillmore District), Hayes Street (Hayes Valley) and Divisadero Street (NOPA/Lower Haight). Public transportation is readily accessible for an easy commute to work with a short trip downtown.

Hayes Valley can feel like two neighborhoods in one. Davies Symphony Hall and the War Memorial Opera House sit at the eastern edge of the neighborhood and attract well-heeled visitors from all over the world. The tony shopping and dining along Hayes Street can be decidedly upscale, while a few blocks north are ’s dive bars and funky shops that attract hip locals and curious tourists. Victorian, Queen Anne, and Edwardian townhouses are bountiful here, along with the occasional new development. There is always something interesting to see and do near The Fell Street Apartments.

Grocery Stores Whole Foods – 690 - 1.7 miles from subject property Bi-Rite – 550 Divisadero Street - 0.4 mile from subject property

Fitness Clubs Fitness SF Fillmore – 1455 Fillmore Street - 0.5 mile from subject property The Space SF - 1426 Fillmore California Street - 0.6 mile from subject property Salt – 327 Divisadero Street - 0.5 mile from subject property

BART Station Civic Center - 1 mile from subject property

Outdoor Space Alamo Square Park (Painted Ladies) – 2 blocks from subject property Golden Gate Park (closest entrance) – 1.3 miles from subject property

9 10 11 Disclaimer

This Ofering Memorandum, and the information contained in it, are proprietary and strictly confidential. This Ofering Memorandum is intended to be reviewed only by the party receiving it directly from RMC Properties. Neither the Ofering Memorandum nor its contents should be disseminated to any other person or entity at any time or in any manner without the express written consent of RMC Properties.

This Ofering Memorandum has been prepared to provide summary, unverified information about the property described herein. The information contained in this Ofering Memorandum has been obtained from sources that appear to be reliable; however, RMC Properties has not verified, and will not verify, any of the information contained herein. Additionally, RMC Properties has not conducted, and will not conduct, any investigation regarding those matters discussed herein, and it expressly makes no warranty or representation of any kind, express or implied, regarding the accuracy or completeness of the information contained in this Ofering Memorandum.

ALL RECIPIENTS OF ANY INFORMATION IN THIS OFFERING MEMORANDUM ARE URGED TO CONDUCT THEIR OWN INVESTIGATION OF THE MATTERS DISCUSSED IN THIS OFFERING MEMORANDUM AND SHOULD NOT RELY IN ANY MANNER OR FOR ANY REASON ON THE INFORMATION PROVIDED HEREIN.

Any information in this Ofering Memorandum regarding the subject property’s size, square footage condition, improvements, or future performance, returns or rents, the presence or absence of contaminating substances, or the subject property’s compliance or non-compliance with any law, statute, regulation, order or ordinance are strictly opinions and should not be relied on in any manner or for any reason. Any projections, assumptions or estimates have been provided for the purpose of example only, do not reflect current or future performance of the subject property, and should not be relied on in any manner or for any reason.

Ofers should be delivered to the Exclusive Listing Broker, RMC Properties, Attention: Joshua Silverman. The seller of the subject property reserves the right, for any or no reason, to withdraw the property from the market, and has no obligation, express or implied, to accept any ofer.

By submitting an ofer, the oferor is deemed to have agreed to the foregoing.

12 13 The Fell Street Apartments 802-806 Fell Street, San Francisco www.FellStreetApartments.com

Ofered By Joshua Silverman, Realtor (415) 230-8887 [email protected] Lic # 01882355 www.RMCProperties.com