970 Chestnut Iconic Russian Hill Masterpiece Offering Memorandum
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970 CHESTNUT ICONIC RUSSIAN HILL MASTERPIECE OFFERING MEMORANDUM 970 CHESTNUT STREET Iconic Russian Hill Masterpiece Kilby Stenkamp | 415.370.7582 DRE #01208585 [email protected] 555 Castro Street San Francisco, CA 94114 Vanguard Properties believes this information to be correct but has not verified this information and assumes no legal responsibility for its accuracy. p 415.655.5600 f 415.655.5601 Buyers should investigate these issues to their own satisfaction. ww w.vanguardproperties.com 970 CHESTNUT STREET | ICONIC RUSSIAN HILL MASTERPIECE 970 Chestnut is iconic San Francisco, built in 1912 by renowned architect Conrad Meussdorffer. Located on a premium block in Russian hill, at the crest of Chestnut at Hyde, where little cable cars ride halfway to the stars. Extraordinary panoramic views from the roof deck and in most units; Bridge to Bridge, Alcatraz, Ghirardelli Square, Aquatic Park, The Pyramid Building, Cable Cars, Tiburon, Oakland and beyond. Twelve spacious two bedroom units, with formal dining rooms, remodeled kitchens and baths, built-ins, fireplaces, wood floors, and period details throughout compliment his work of art. A large thirteenth three bedroom and two bath garden apartment added with permit in 1989. Landscaped yard, storage units and roof deck. • Iconic Trophy 13 unit building located in Russian Hill • Projected annual income of $1,137,000 • Current income with banked rent and additional ADU’s $776,990 • Elevator building, built in 1914 • Soft Story permit has been pulled • Grand-scale property with approximatley 19,000 sq ft of living space* • 6.83 Proforma Cap Rate, 3.95 Current Cap Rate with ADU’s. •Lot size per tax records 9,278 and Zoning RH1D • Significant rental upside. *per tax records the property is 17,782 sq ft, an additional large 3 bedroom and 2 bath garden apartment was added in 1989 www.970Chestnut.com Offered at $12,900,000 Kilby Stenkamp | 415.370.7582 [email protected] DRE #01208585 555 Castro Street San Francisco, CA 94114 Vanguard Properties believes this information to be correct but has not verified this information and assumes p 415.655.5600 f 415.655.5601 no legal responsibility for its accuracy. Buyers should investigate these issues to their own satisfaction. www.vanguardproperties.com 970 CHESTNUT STREET | ICONIC RUSSIAN HILL MASTERPIECE 970 CHESTNUT STREET | RENT ROLL Unit # Unit Split Storage Move-In S\D Last Increase Current Rent Proforma 1 2x2 2/15/18 $8,400.00 $4,200.00 $4,750.00 2 2x1 1 unknown unknown 8/1/18 $1,249.80 $4,750.00 3 2x2 2/1/16 $8,400.00 $4,359.60 $4,750.00 4 2x1 1 unknown unknown 1/1/18 $2,370.08 $5,000.00 5 2x2 $7,800.00 7/1/16 $3,446.55 $5,000.00 6 2x2 $7,990.00 7/1/15 $4,518.10 $6,000.00 7 2x1 unknown unknown 7/1/18 $1,323.55 $6,000.00 8 2x1 unknown unknown 7/1/18 $1,418.59 $6,750.00 9 2x2 7/1/15 $8,400.00 7/1/18 $4,359.00 $6,750.00 10 2x2 12/20/14 $9,000.00 $4,743.00 $7,500.00 11 2x2 $7,000.00 $7,000.00 12 2x2 7/1/15 $13,500.00 $4,743.00 $8,500.00 13 3x2 4/11/09 $7,300.00 7/1/16 $3,963.18 $7,000.00 $1050.00 $1050.00 Storage 3 vacant Coin-op Laundry* $300.00 $300.00 2-3 additional ADU's* $15,000.00 $15,000.00 TOTAL INCOME $63,825.41 $94,750.00 *laundry income is an estimate *Buyer to do their own due diigence regarding the addition of ADU's *Current rents include banked rents and ADU’s. Banked rents calculated by G3MH. www.970Chestnut.com Offered at $12,900,000 Kilby Stenkamp | 415.370.7582 [email protected] DRE #01208585 555 Castro Street San Francisco, CA 94114 Vanguard Properties believes this information to be correct but has not verified this information and assumes p 415.655.5600 f 415.655.5601 no legal responsibility for its accuracy. Buyers should investigate these issues to their own satisfaction. www.vanguardproperties.com 970 CHESTNUT STREET | ICONIC RUSSIAN HILL MASTERPIECE 970 CHESTNUT STREET | EXPENSES Cleaning $ 14,250.00 Insurance $ 16,000.00 Repairs/Maintenance $ 9,783.00 Taxes* $ 165,088.00 Utilities $ 46,032.00 Landscaping $ 880.00 Elevator $ 2,177.00 License and Permits $ 1,500.00 TOTAL $ 255,710.00 www.970Chestnut.com Offered at $12,900,000 Kilby Stenkamp | 415.370.7582 [email protected] DRE #01208585 555 Castro Street San Francisco, CA 94114 Vanguard Properties believes this information to be correct but has not verified this information and assumes p 415.655.5600 f 415.655.5601 no legal responsibility for its accuracy. Buyers should investigate these issues to their own satisfaction. www.vanguardproperties.com www.970Chestnut.com Offered at $12,900,000 Kilby Stenkamp | 415.370.7582 [email protected] DRE #01208585 555 Castro Street San Francisco, CA 94114 Vanguard Properties believes this information to be correct but has not verified this information and assumes p 415.655.5600 f 415.655.5601 no legal responsibility for its accuracy. Buyers should investigate these issues to their own satisfaction. www.vanguardproperties.com PIER 45 P I E R 3 9 T HE EMBARCADERO H Y D LL AVE E E JEFFERSON ST W S O T D C JONES ST M V BEACH ST A N TAYLOR ST N ANCHORAGE FUNSTON E S P S SHOPPING NORTH POINT ST K O A POWELL ST E FRANKLIN ST V P E A E CENTER R BEACH ST BAY ST NY S T GHIRARDELLI MASON ST HYDE ST G MACA SQUARE R R LARKIN ST T A H N U T R FRANCISCO ST T A A BAY ST A V V Y PFEIFFER ST E LAGUNA ST E L BUCHANAN ST L O E A ISCO ST R V ANC 11 FR S WATER ST E T POLK ST 12 N 18 CHESTNUT ST W O R TH S VAN NESS AVE T O S CHESTNUT ST C BAY ST T K 970 T FRANCISCO ST 14 LOMBARD ST ON G CHESTNUT O S U T G CHESTNUT ST JONES ST POWELL ST H 15 S MEDAU T GREENWICH ST P LOMBARD ST L ST FILBERT CHESTNUT ST MASON ST OCTAVIA ST G GREENWICH ST R A MAGNOLIA ST N T JASPER PL T T A H S FILBERT ST C A EENWI Y R V G L LOMBARD ST O E R T BUCHANAN ST ION S UN S T LAGUNA ST 16 FILBERT ST COLUMBUS AVE GREENWICH ST LEAVENWORTH ST POLK ST ALLEN ST GREEN ST UNION ST 19 RAY LN 20 ACOND 5 7 M FILBERT ST 6 9 UNION ST 1 S GREEN ST VALLEJO ST T 13 OC 8 2 K LARKIN ST UNION ST 17 T GREEN ST O 10 WAY ST D N GLOVER ST BROA VALLEJO ST 3 S T WAY ST BROADWAY TUNL GREEN ST VAN NESS AVE BROAD BERNARD ST TAYLOR ST PACIFIC AVE MASON ST JOHN ST SON ST VALLEJO ST LYNCH ST JACK FRANKLIN ST STONE ST JONES ST BUCHANAN ST LAGUNA ST OCTAVIA ST BROADWAY ST PACIFIC AVE POWELL ST POLK ST 4 JACKSON ST WETMORE ST LEAVENWORTH ST WASHINGTON ST W E CLAY ST B S T PACIFIC AVE JACKSON ST E R WASHINGTON ST S LARKIN ST ST T ENTO 1 Frascati 6 Okoze Sushi 11 Larkin Street Stairs 16 Molinari Mana Park SACRAM JACKSON ST CLAY ST PLEASANT ST WASHINGTON ST 2 Amarena 7 Bacchus Wine Bar 12 Russian Hill Park 17LEROY PL Hyde & Vallejo Mini Park SACRAMENTO ST JOICE ST CLAY ST TAYLOR ST 3 Allegro Romano 8 Stones Throw 13 Ina Coolbrith Park 18 San Francisco Art Institute WASHINGTON ST CALIFORNIA ST SACRAMENTO ST Hyde Street Seafood JONES ST 4 CLAY ST 9 Union Larder 14 Fay Park 19 Macondray Lane House & Raw Bar CALIFORNIA ST PINE ST 5 Leopold's 10 Ho’s Tavern 15 George Sterling Park 20 1st Swensen's Ice Cream Store www.970Chestnut.com Offered at $12,900,000 Kilby Stenkamp | 415.370.7582 [email protected] DRE #01208585 555 Castro Street San Francisco, CA 94114 Vanguard Properties believes this information to be correct but has not verified this information and assumes p 415.655.5600 f 415.655.5601 no legal responsibility for its accuracy. Buyers should investigate these issues to their own satisfaction. www.vanguardproperties.com 970Chestnut.com.