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A Portfolio of 25 Fully Leased Units in the Victoria Mews Potrero Hill, San Francisco

1800-1824 20th Street, 518-586 Wisconsin Street & 619-687 Carolina Street


Contents 1. EXECUTIVE SUMMARY 2. PROPERTY OVERVIEW 3. FINANCIAL SUMMARY 4. PROPERT Y PHOTOS 5. AREA OVERVIEW

The information contained in this document has been obtained from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior to sale, lease, or financing or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. It is your responsibility to independently confirm its accuracy and completeness. You and your tax and legal advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

LOUIS CORNEJO Office: 415.863.1775 R E A L E S TAT E

Direct: 415.786.3662 Email: louis@urbangroupsf.com DRE: 01518102/ DRE 01885834


Executive Summary As exclusive agents, Urban Group Real Estate is pleased to present 1800-1824 20th Street, 518-586 Wisconsin Street and 619-687 Carolina Street, San Francisco, CA, a portfolio of 25 fully leased units in the Victoria Mews, for purchase (the “Offering”). ABOUT THE COMPLEX The Victoria Mews Condominiums were built in 1980 (the “Complex”), with the overall project containing a total of 87 residential units and 24 commercial auxiliary units. A very unique condominium development, the Victoria Mews is an assortment 3-4 story buildings spread over a +/- 1.85 acre complex. The Complex is set in serene garden surroundings, with a year-round creek and unmatched city skyline views as a backdrop. Victoria Mews amenities include a pool, spa, hot tub, tennis courts, gym and club room.

ABOUT THE OFFERING The Offering is a unique collection of 25 units within Victoria Mews which include all 24 commercial units plus one residential penthouse. THE PERKS: Prime Potrero Hill Location

Very Few Landlord Responsibilities

No Rent Control

Incredible Views

5.5% Cap Rate

Great Amenities

The perks:


THE COMMERCIAL AUXILIARY UNITS The commercial auxiliary units are spread throughout the Complex and located on different levels within various buildings. Each floor plan is unique, with some units offering private decks or patios, downtown views, and/or garden views. Each space has the feeling of an oasis in the bustling city and include a private bath with shower. The units are leased to a variety of business ranging from financial advisors, accountants, architects, property management, yoga and physical therapy. Garbage and Water is included in the HOA dues, with each unit separately metered for PG&E. When the Complex was originally subdivided in 1980, all auxiliary units were assigned to one APN 4070-100.


THE RESIDENTIAL PENTHOUSE The residential unit, 687 Carolina Street, is a light-filled 3-bedroom 2-bath penthouse with unbelievable city views. The approximately 1,400 square foot unit has a split-level design, with the bedrooms and bathrooms at the entry level and the kitchen, dining and living rooms on the upper level, providing views from every angle. The living room is anchored by a wood-burning fireplace plus a patio door that leads out onto a large deck with breathtaking views of the city. The kitchen connects to the dining room which also features a small outdoor deck with views. Tall ceilings accentuate the open, airy vibe of this unit. Separately metered for PG&E with garbage and water included in the HOA dues. This penthouse unit has its own APN, 4070-093 and also one parking space assigned to it. 687 Carolina Street is currently leased on a month to month basis.

This one of a kind Offering presents a savvy investor with a fantastic passive income opportunity with great rental upside, in an ideal neighborhood location in a world class city.


Property Overview

Property Overview Address:

1800-1824 20th St, 518-586 Wisconsin St and 619-687 Carolina St San Francisco, CA

APN:

4070-093 & 4070-100

Zoning:

RM-1

Square Footage:

+/- 11,834

# Units Offered:

25

Use:

24 Auxiliary units and One 3-bedroom 2-bath residential Penthouse

Victoria Mews Condominiums Year Built:

1980

Total Units:

87 Residential + 24 Auxiliary

Foundation:

Concrete

Construction:

Wood Frame

Exterior:

Wood Siding

Amenities:

Tennis courts, outdoor pool, sauna, spa, club room, views, garden


Victoria Mews Aerial


Victoria Mews Map


Parcel Map


Financial Summary 1800-1824 20th Street, 518-586 Wisconsin, 619-687 Carolina San Francisco, CA 94107

Financial Overview Purchase Price

$5,350,000

Gross Square Footage

11,834

$PSF

$452

Cap Rate

5.50%

Zoning

RM1

Year Built

1980

Units

25

$/Per Unit

$214,000

Rental Income Base Rent

$457,980

Vacancy (5%)

$22,899

Gross Income

$435,081

Annual Operating Expenses Real Estate Taxes (NEW Based on 1.1801%)

$63,135

HOA Dues

$30,058

Janitorial

$5,000

Insurance Expense

$6,200

Property Management Fees (6%)

$26,105

Repairs and Maintenance

$9,000

Other Fees

$2,500

Total Expenses

$141,998

Net Income

$293,083


Rent Roll Parcel

Address

Unit Type

Tenants

A-1

518 Wisconsin

Commercial

Pacific Parking

A-2

520 Wisconsin

Commercial

E.F. Brett and Co

A-3

534 Wisconsin

Commercial

A-4

548 Wisconsin

A-5b

SQFT

Rent

$/sqft

Lease From

Lease To

Rent Inc Date

Views

Features

355

$850.00

$2.39

05/25/1990

05/31/2021

06/01/2020

Tennis Courts

Patio

Office

277

$1,550.00

$5.60

11/01/2018

10/31/2019

11/01/2020

Tennis Courts

Patio

Margaret Lee

Storage

461

$1,650.00

$3.58

09/01/2018

08/31/2019

09/01/2020

Tennis Courts

Commercial

Shaw/Guehnemann

Office

393

$800.00

$2.04

04/30/1996

05/31/2018

01/01/2020

Partial City Views

550 Wisconsin

Commercial

OmSpring

453

$1,200.00

$2.65

03/12/2003

05/31/2024

06/01/2020

City and Garden Views

A-5a

550A Wisconsin

Commercial

Anthony Swanner

Storage

417

$1,200.00

$2.88

04/16/2004

5/31/2019

06/01/2020

A-6

552 Wisconsin

Commercial

Western Inspections

Office

504

$950.00

$1.88

03/18/1994

05/31/2020

06/01/2020

Garden Views

A-7

572A Wisconsin

Commercial

Dawn Logsdon

395

$740.00

$1.87

08/16/2013

08/31/2021

10/01/2020

City and Garden Views

Private Deck

A-8a

572B Wisconsin

Commercial

Kamran Sanei

533

$1,000.00

$1.88

08/22/2010

05/31/2021

06/01/2020

Garden Views

Access to garden area

A-8b

572C Wisconsin

Commercial

Moore Financial

Office

378

$1,050.00

$2.78

06/22/2010

05/31/2021

06/01/2020

City and Garden Views Private Deck

A-10

586A Wisconsin

Commercial

Alan Chimenti

Office

413

$1,000.00

$2.42

06/01/2017

05/31/2020

06/01/2020

A-9

586B Wisconsin

Commercial

Nick Moore

Office

314

$950.00

$3.03

06/01/2017

05/31/2021

06/01/2020

A-11

586C Wisconsin

Commercial

Wendy Basara

383

$950.00

$2.48

06/01/2017

05/31/2021

06/01/2020

Garden Views

A-14

619 Carolina

Commercial

Arrowhead Graphix

Office

362

$1,050.00

$2.90

09/15/2003

05/31/2021

06/01/2020

Tennis Courts

Patio

Part of A-14

619A Carolina storage

Storage

Storage

80

$150.00

$1.88

A-15

621 Carolina

Commercial

Gallery of Jewels

Office

277

$1,275.00

$4.60

06/29/2017

04/30/2020

08/01/2020

Tennis Courts

Patio

A-16a

635 Carolina

Commercial

Amanda Darnell

469

$1,600.00

$3.41

06/09/2014

08/31/2020

09/01/2020

Tennis Courts

A-16b

637 Carolina

Commercial

Bluefield Project

616

$2,650.00

$4.30

12/04/2015

12/31/2022

01/01/2020

A-17

657 Carolina

Commercial

GreyBrick

Office

441

$1,600.00

$3.63

03/01/2020

02/28/2023

03/01/2021

Pool Area

Access to pool area

A-18

659 Carolina

Commercial

Bodicraft

Physical Therapy

420

$2,050.00

$4.88

11/01/2015

02/28/2020

03/01/2020

Pool Area

Access to pool area

A-19

675 Carolina

Commercial

Stephen Lewis

300

$900.00

$3.00

01/06/2020

01/05/2021

01/05/2021

Garden Views

Access to garden area

Part of A-19

675A Carolina (storage)

Commercial

GreyBrick

Garden Views

Access to garden area

A-12a

1800 20th

Commercial

Heather J. Fong

A-13a, A-13b

1820 & 1822 20th

Commercial

2B Living Tenant

A-12b

1824 20th

Commercial

687 Carolina

3 Bed/2 Bath

25 Units

Current

Use

Storage

Property Mgmt

Residential

280

Incl with 657 Carolina

Private Deck

Access to garden area

Access to garden area

372

$1,400.00

$3.76

03/31/2017

03/31/2020

04/01/2020

City Views

1,221

$4,000.00

$3.28

12/04/2018

06/30/2019

12/01/2020

City and Garden Views

320

$1,100.00

$3.44

1,400

$6,500.00

$4.64

11,834

$38,165.00

$3.23

Private Deck

City Views 09/01/2009

01/31/2020

02/01/2020

City Views

2 Private Decks


Property Photos Commercial Auxiliary Units


Commercial Auxiliary Units


Commercial Auxiliary Units


Penthouse - 687 Carolina Street


Area Overview Area Map


Neighborhood Overview: Potrero Hill Potrero Hill’s steep roads, colorful rows of homes, and small-town quality feel make it popular with those who enjoy full access to the bustling city but prefer a quiet place to lay their heads. The main shopping corridor,18th Street, has quaint eateries and shops. On the neighborhood’s eastern edge, industrial-cool Dogpatch, with hip bars and eateries, runs along the waterfront.

PotreroHill’ssteeproads, colorful rows of homes, andsmall-townquality feelmakeitpopularwith thosewhoenjoyfullaccess to the bustling city but preferaquietplacetolay theirheads.


Neighborhood Map

19

17

18

9 10 8

11

12

20

22

7 4 1 2 3

16

13

5

6

15 14

23

21

Shopping/Leisure

Dining 1

Goat Hill Pizza

2

Mochica

3

Chez Maman East

4

Umi

5

Farley’s

6

Plow

Parks/Fitness

Anchor Brewing

12

Whole Foods Market

18

Tonal Headquarters

Company

13

Chiotras Grocery

19

World Gym

8

Philz Coffee

14

Daves Food Store

20

Fitness Urbano

9

Zesty

15

Le Fleur Hair & Nail Spa

21

Protrero Hill Rec Center

10

Thee Parkside

16

La Petite Nail Shop

22

Jackson Playground

11

Live Sushi Bar

17

Farmgirl Flowers

23

McKinley Square

7


San Francisco Overview San Francisco is often recognized as the financial and cultural center of the West. The city’s Financial District contains one of the highest concentrations of financial activity, investment business, and venture capital in the world, and is often referred to as the “Wall Street of the West”. Nearby Silicon Valley makes San Francisco a dominant hub for technology development. The city boasts a gross regional product excess of $426.9 billion and is considered the 8th most important financial hub in the world, according to the 2016 Global Financial Centers Index. San Francisco real estate is the most valuable and fastest appreciating of all large U.S. cities, and the advantage will go to owners of well-located office, multi-family and retail properties.

At a glance DYNAMIC & DIVERSIFIED INCOME BASE

San Francisco is a hotbed of innovation and productivity. The city is the leader in the growth of high-tech, bio-tech, clean energy, domestic security, and defense technology. Workers in SF have increased output by 45% per employee, in the last few years — as output per hour increases, revenue generated per employee increases, and the ability for tenants to pay higher rent, in turn, increases WEALTHY POPULATION

San Francisco is one of the wealthiest regional markets in the world. Average per capita income is $13K higher than national figures. It is third in U.S. for number of ultra-highnet-worth individuals worth $30MM+; 10% of the wealthiest Americans live in San Francisco. URBAN RENAISSANCE

12+ major, new development projects, including the Salesforce Tower, Goodwill Project and Honda Project, to name a few, are well underway and will aid in the further growth of San Francisco as a global leader.


Confidentiality Statement This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains brief, selected information pertaining to the Property. However, neither the Owner nor Urban Group Real Estate Inc. purport this Package to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Any information contained herein is obtained from sources considered reliable. However, neither the Owner, nor Urban Group Real Estate Inc., make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential Memorandum or its contents, nor no legal liability is assumed or implied with respect thereto. In addition, neither the Owner nor Urban Group Real Estate Inc. is responsible for any misstatement of facts, errors, omissions, withdrawal from market, or change in terms, conditions or price without notice. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confident nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to the below:

URBAN GROUP REAL ESTATE INC.

2601 Mission Street Suite 502 San Francisco, CA 94110 Phone: 415.863.1775 Fax: 415.863.4713 DRE 01885834

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1800 20th Street 01.22.2020  

1800 20th Street 01.22.2020