924 South Van Ness Avenue
Pending
924 S Van Ness Ave
San Francisco, CA 94110
$2,500,000
Provided by: Harper Real Estate

Features

Built in 1910
14 beds
8 BATHS
4 parking spaces
7,856 sqft

A trophy asset in the heart of the vibrant Mission District. 8 units fully rented and 4 parking spots with rent upside of approximately 12k per year. Projected 5% CAP rate not including any future pass-through rent increases. Nestled in the vibrant and diverse Mission District you're steps away from dining, nightlife, and attractions in the heart of the city.

Prime Inner Mission 8 unit building with rent upside.

Price: $2,500,000

Gross scheduled or proforma rents:  $187,282.08

Actual rents:  $175,282.08

NOI: $ 128,893.488 (scheduled) 

Cap Rate: 5.15%  (scheduled) 

GRM: 13.3  (scheduled) 

 

Current expenses annual:
Water - $ 11540

Garbage - $ 7747

Maintenance and management - $ 4000

House Utilities - $ 240

Insurance - $ 4900

Total :  $ 28427

Estimated property taxes based on purchase price: $ 29,961.59

Estimated total yearly expenses: $ 58,388.59

 

UNITS ACTUAL RENTS:

924    1    $ 1905.66

924    2    $ 2362.85

926    3    $ 1824.34

926    4    $ 2637.6

928    5    $ 1648.5

928    6    $ 1698

930    7    $ 1314.4

930    8    $ 1215.49

 

Included in scheduled calculations above: 

Estimated garage rental income:  $250 x 4= $1000 per month additional potential income. 

 

8 Fun Facts About the Mission District:

The Mission District is one of the most vibrant, colorful, and culturally diverse neighborhoods in San Francisco. Originally settled in the 1770s by the Spanish, the Mission District is the hub of Latin Culture in the Bay area.

1. The Mission District is commonly referred to as “The Mission.”

2. The Mission got its name from the Mission San Francisco de Asis which is the oldest remaining building in the city of San Francisco and the sixth Mission built in California by Father Junipero Serra. It is part of the chain of 21 Spanish Alta California Missions that span as far south as San Diego and as far north as Sonoma. Mission San Francisco de Asis in now known by its more popular name, Mission Dolores and is a 15-minute walk from the Inn San Francisco and well worth a visit.

3. The Mission burrito was invented here. This burrito first became popular in the 1960s and is distinguished by its large size and its addition of extra rice and other ingredients.

4. The Mission has more than just burritos, it is also home to several Michelin star restaurants – Lazy Bear, Al’s Place, and Californios.

5. The Mission is the home to the oldest movie theater in San Francisco, the Roxie.

6. The famous musician, Carlos Santana spent his formative teenage years in the Mission.

7. The Mission is also famous for its colorful murals. One of which includes the Inn San Francisco, have you spotted it yet?

8. The Mission is also home to many notable events and festivals throughout the year. These include Carnavale, Day of the Dead, the San Francisco Food Fair.

 

Property Documents

Location

Contact

Anthony Navarro

Harper Real Estate
(415) 305-3291
DRE #01491847
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