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14471449 Lombard Street

San Francisco, CA 94123
  • $3,500,000
  • STATUS: Active
  • ON SITE: 36 Days
  • ID#: ML81882159
UPDATED: 77 min ago
$3,500,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1982
County:

School Ratings & Info

Listing Agent(s): Maryann Ernst of Kw Peninsula Estates (650-627-3700)


Description

A rare find in San Francisco, pride of ownership this mixed use building offers one commercial space that is currently leased as a restaurant, restaurant has 5 years lease and one 5 year option it is in its 2nd year . Two residential units, each unit features 3 bedrooms 2 bathrooms living, dining room and kitchen. Property was built in 1982. Rents are below market rates due to COVID. Previous owners rented units as luxury vacation rentals that were generating very high income. Cap rate based on actual income is 2.6% Performa income based on current market rents for 3/2 in the area is $5200 per month for each unit, which brings the building to a NOI of $130000 and a capital rate of 3.3%. One of the residential leases will expire this year.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T20:28:28.75. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
www.legacy15.com/homes/127905248
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14471449 Lombard Street San Francisco, CA 94123

  • Price: $3,500,000
  • Status: Active
  • On Site: 36 Days
  • Updated: 77 min ago
  • ID#: ML81882159
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1982
Built
Neighborhood:
699 - Not Defined
County:
San Francisco
Area:
699 - Not Defined
Property Description
A rare find in San Francisco, pride of ownership this mixed use building offers one commercial space that is currently leased as a restaurant, restaurant has 5 years lease and one 5 year option it is in its 2nd year . Two residential units, each unit features 3 bedrooms 2 bathrooms living, dining room and kitchen. Property was built in 1982. Rents are below market rates due to COVID. Previous owners rented units as luxury vacation rentals that were generating very high income. Cap rate based on actual income is 2.6% Performa income based on current market rents for 3/2 in the area is $5200 per month for each unit, which brings the building to a NOI of $130000 and a capital rate of 3.3%. One of the residential leases will expire this year.
Exterior Features

Carport Spaces 0 Foundation Details Pier Jacks Lot Features Back Yard Parking Features None Parking Total 0 Roof Composition

Interior Features

Accessibility Features Safe Emergency Egress From HomeLow Pile CarpetNo StairsOtherAccessible DoorsAccessible Entrance Cooling None Cooling YN No Heating Central Heating YN Yes

Property Features

Cap Rate 2.47 Garage YN No Gross Scheduled Income 142560 Insurance Expense 5000 Listing Agreement Exclusive Right To Sell Listing Terms CashConventional Maintenance Expense 0 Possession Close Of Escrow Security Features Firewall(S)Fire Rated DrywallResident Manager Special Listing Conditions Standard Trash Expense 0 Zoning Nc-3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T20:28:28.75. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
 
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Legacy 15 Real Estate Brokers
22521 Avenida Empresa Suites 100 & 102
Rancho Santa Margarita CA, 92688
Listing Agent(s): Maryann Ernst of Kw Peninsula Estates (650-627-3700)