Located on a corner lot with spectacular southern views! This 5-unit mixed-use property is located in prime Potrero Hill. The property is comprised of four 1-bedroom/1-bath units and one commercial unit neighborhood favorite market. This gem is fully occupied creating a great investment opportunity. The building is conveniently located on a corner lot in Potrero Hill and features southern views! 1800 23rd Street is also known as 890 Arkansas Street.
890 Arkansas Potrero Hill
5 Units | Mixed-Use | OFFERED AT $1, 295 ,000
Brendon Kearney 415.640.4757 brendon.kearney@compass.com DRE 01350213
INVESTMENT SUMMARY
Located on a corner lot with spectacular southern views! This 5-unit mixed-use property is located in prime Potrero Hill. The property is comprised of four 1-bedroom/1-bath units and one commercial unit neighborhood favorite market. This gem is fully occupied creating a great investment opportunity. The building is conveniently located on a corner lot in Potrero Hill and features southern views! 1800 23rd Street is also known as 890 Arkansas Street.
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INVESTMENT SUMMARY
Key Details • Corner m ixed- u se b uilding • Potrero Hill location • Four one b edroom, one b a throom units
Neighborhood On Potrero Hill, you can relax in brilliant sunshine while watching fog engulf the rest of the city. Potrero Hill has its own pace and a feeling of distance from "the City." Potrero Hill's primary shopping district is on 18th Street, between Connecticut and Texas streets, along which you'll find quaint eateries, mom and pop shops and Farley‛s, arguably the best coffee shop in SF. It is known for its views of the San Francisco Bay and city skyline, its proximity to many destination spots, its sunny weather, and having two freeways and a Caltrain station. Eateries, bars and shops along 18th street are plentiful in options. You'll 3 find plenty of shopping and grocery options close to 16th and Potrero.
• O ne r etail s pace • Southern Views
INVESTMENT DETAILS
Property Overview
Year Built
1961
4162-034
Parcel Number
5
# of Units
Unit Mix
Four 1bd/1ba & One Commercial
Parking
0
Sq.Feet
2900
Lot Sq. Feet
2,275
Neighborhood
Potrero Hill
Zoning
NC1
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RENT ROLL
Rent
Projected Rent (SYR)
Unit
Type
Unit 1 Unit 2 Unit 3 Unit 4
1bd/1ba 1bd/1ba 1bd/1ba 1bd/1ba
$1,200.00 $1,100.00 $1,000.00 $1,000.00
$1,296.00 $1,188.00 $1,080.00 $1,080.00
________________________________________
Commercial Unit
M&W Mart
$2,400
Annual Total
$80,400
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INVESTMENT DETAILS
Financial Overview
Price
$1, 295 ,000
Price per Unit
$ 261,590
Price per Sq Foot
$ 446.55
GRM
16. 11
4. 97 %
Cap Rate
Annual Income
$80,400
Estimated Annual Expenses
$1 5 ,454
Annualized Operating Data Gross Income:
Estimated Expenses Taxes
$80,400
$3,682
$15,45 4
Total Expenses :
Insurance
4,300
$64,946
Net Operating Income:
$4,560
Utilities
Annual Mortgage Payment :
$4 7 , 810
Maintenance
$500
$ 17,136
Net Effective Income:
___________________________________________________________________ _ _ VacancyRate $ 2,4 12
Total Expenses:
$1 5,454
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Confidentiality and disclaimer
The information contained in the offering is confidential, furnished solely for the purpose of review by a prospective purchaser of the subject property. The material is based in part upon information supplied and in part upon information obtained by Compass Commercial from sources it deems reasonably reliable. No warranty or representation, expressed or implied, is made by the owner, Compass Commercial, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communications. Without limiting the generality of the foregoing, the information shall not be deemed a representation of the state of affairs of the subject property or constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of the information. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site. The Offering Memorandum was prepared Compass Commercial. It contains select information pertaining to the subject property and does not purport to be all inclusive or to contain all of the information which a prospective purchaser may desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation. An opportunity to inspect the subject property will be made available to qualified prospective purchasers. In the Offering certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. The Offering is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Compass Commercial or the owner. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the subject property described herein. The owner and Compass Commercial expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offer to purchase the subject property and/or to terminate discussions with any party at any time with or without notice. The owner shall have no legal commitment or obligation to any interested party reviewing the Offering or making an offer to purchase the subject property unless a written agreement for the purchase of the subject property has been fully executed and delivered by the owner and such party and any conditions to the owner’s obligations there under have been satisfied or waived and then only to the extent expressly provided for therein. Compass Commercial is not authorized to make any representations or agreements on behalf of the owner.
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