2338 Vicente St.

1 BR + 1 BR + 1 BR + 1 BR + Studio, 1 BA + 1 BA + 1 BA + 1 BA + 1 BA San Francisco 5-Unit Building for Sale 3,755 Sq. Ft.
$1,475,000

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Prime Parkside 5-Unit Income Property

Address: 2338 Vicente Street
Neighborhood: Parkside
Bedrooms: 1 BR + 1 BR + 1 BR + 1 BR + Studio
Bathrooms: 1 BA + 1 BA + 1 BA + 1 BA + 1 BA
Style: Income/Investment
Parking: Garage
Square Feet: 3,755
Listed At: $1,475,000

2338 Vicente offers investors a prime opportunity to enhance their rental portfolio with a five-unit building in Parkside/Sunset with two vacant units. This 3,755 sq. ft. property features four one-bedroom units over a two-car garage, a ground-floor studio, and a quaint rear yard. Vacant units include the studio and a top-floor one-bedroom unit. The central location is two blocks from Pine Lake Park, a block from Sunset Boulevard, and within immediate proximity to the L-Taraval Muni line.

Additional income is available from the garage parking;, by updating the vacant units; or possibly converting the vacant one-bedroom unit to a two-bedroom unit. Alternatively, the vacant units offer flexibility for owner-occupants who would benefit from the income support from the rented units. Unit amenities include hardwood flooring, some dual pane windows, and a large walk-in closet in the studio unit. The building has additional storage units and a washer/dryer (third-party vendor-owned) on the ground level.

Projected annual income is $92,715 with $23,965 in operating expenses and a net income of $68,750. The estimated cap rate is 4.66%.

With easy access to Golden Gate Park, the Sunset, Stonestown Galleria, and main thoroughfares via Sunset Boulevard and 19th Avenue close by, Parkside is ideal for a broad range of demographics in home buyers or renters. Its close proximity to San Francisco State University, Lake Merced, and I-280 make it an appealing spot for students and commuters alike. With its efficient floor plans, convenient location, and opportunities for unit/income optimization, 2338 Vicente Street is a wonderful value-add opportunity as an income property and is suitable for an occupant-owner with an income stream.

Building Features:

• 5-unit building: 4 one bedroom, one bathroom units and 1 studio
• 3,755 sq. ft. on a 2,495 sq. ft. lot (per tax records)
• Hardwood floors
• Efficient layouts
• Dual pane windows in some units
• 2 vacant units offer options for owner-occupants with rental support or units can be updated or reconfigured to improve rents further
• Desirable Parkside location close to Pine Lake Park, Golden Gate park, Stonestown Galleria, I-280, several mass transit options including Muni lines on Sunset, Taraval, and Sloat Boulevard

Financials:

• Projected annual income: $92,715
• Estimated annual operating expenses: $23,965 (includes PG&E: $480; water: $2,000; garbage: $2,033; insurance: $2,059; property taxes: $17,393.20)
• Projected net income: $68,750 per year
• Estimated capitalization rate of 4.66%

Projected Monthly Income: $7,726.24 (Units 1, 4, and Parking Estimated, Units 2, 3, and 5 Scheduled):

• Unit 1, vacant studio: $1,475
• Unit 2, 1 bedroom, 1 bathroom: $1,015.80
• Unit 3, 1 bedroom, 1 bathroom: $958.40
• Unit 4, vacant 1 bedroom, 1 bathroom: $2,500
• Unit 5, 1 bedroom, 1 bathroom: $1,417.04
• Parking: $360

www.2338Vicente.com

* Square footage and other information was received from third party sources. Such information has not been, and will not be, verified by Climb Real Estate Group. If important to buyers, this information must be verified by buyer's own investigation.

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