Offering Memorandum · includes both Pacific Heights’ “Gold Coast”, an area famous for its billionaire residents and record-breaking prices, and ... B 800 sf Chiropractor $3,650

Price: $3,995,000 CAP Rate: 3.8% Net Operating Income: $151,754

FOR SALE and FOR LEASE2305 Van Ness Ave., San Francisco, CA 94109

John E. MugnaniSenior Advisor

BRE: #01742319

Offering Memorandum Pacific Heights 2-Story Medical Office Building

Dir: 415.268.2272 Cell: [email protected]

PacificHeights,SanFrancisco

Pacific Heights is an affluent neighborhood of San Francisco, California, which is known for the notable people who re-side in the area. It is located in one of the most scenic and park-like settings in northern California, offering panoramic views of the Golden Gate Bridge, San Francisco Bay, the Palace of Fine Arts, Alcatraz, and the Presidio. Its location provides a temperate micro-climate that is clearer, but not always warmer, than many other areas in San Francisco.

In 2013, Pacific Heights was named most expensive neighborhood in United States stating that if San Francisco’s Pacif-ic Heights had its own zip code, it would be the most expensive place to live in the United States. The 94115 zip code includes both Pacific Heights’ “Gold Coast”, an area famous for its billionaire residents and record-breaking prices, and “The Western Addition”, an area about 20 blocks away where real estate prices are significantly lower. In 2017, Curbed SF again announced the “occasionally chic, hardly affordable, always elite Pacific Heights” as San Francisco’s most ex-pensive neighborhood.

Pacific Heights is situated on a primarily east–west oriented ridge that rises sharply from the Marina District and Cow Hollow neighborhoods to the north to a maximum height of 370 feet (110 m) above sea level. Pacific Heights features two parks, Lafayette and Alta Plaza. Visible to the north are the Golden Gate Bridge, the Marin Headlands, and Alca-traz Island.

Demographics

The average household in this neighborhood consists of 1.8 people, which is lower than the city’s average. The popu-lation is predominantly white, with other races represented as well. The median age for men in the neighborhood is 37.6 years, and the median age for women is 36.6. Pacific Heights is often considered more educated than other parts of San Francisco. While 21.9 percent of residents have not completed high school, 33.5 percent have finished a bache-lor’s program. About 17.4 percent of Pacific Heights residents have finished a master’s program, and 3.7 percent of the population has a doctorate degree. About 22.5 percent of the households in Pacific Heights consist of families. About 27.2 percent of those are married couples without children, and 50.7 percent are married couples with children. Nearly 10 percent of the households consist of single mothers.

1 mile 3 miles 5 miles2015TotalPopulation 120,205 391,271 665,698%PopulationChange2010-2015 7.79% 8.93% 8.08%%HouseholdChange2010-2015 2.12% 3.58% 3.42%2015AverageHouseholdIncome $105,779 $112,242 $116,977

PACIFIC HEIGHTS

2305VanNessAvenueSanFrancisco,CA94109

Lot Units & Percentage of Common Area

The information above has been obtained from sources deemed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. Investor is responsible to confirm the accuracy and 

completeness of the information using Investor's own experts.

FORT MASON

RUSSIANHILL

PACIFICHEIGHTS

COWHOLLOW

THEMARINA

NOBHILL

TRICommercialRealEstateServices,Inc.100PineStreet,Suite1000,SanFrancisco,CA94111

The information in this document was obtained from sources we deem reliable; however, no warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein.

ParcelMap/LocationMap

Unit#: Approx.Size: Tenant: Rent/Month: LeaseExpirationDate:

A 800 sf DDS $3,370 April 30th, 2021B 800 sf Chiropractor $3,650 April 30th, 2021C 1,565 sf (Available) (Estimate $2,500) N/AD 500 sf Dermatologist $1,785 November 30th, 2020E 1,200 sf DDS $3,685 April 30th, 2020F 700 sf Massage Studio $2,137 July 31st, 2018

Total Monthly Rent: $17,127GrossRent: $205,524

2305VanNessAvenueSanFrancisco,CA94109

TRICommercialRealEstateServices,Inc.100PineStreet,Suite1000,SanFrancisco,CA94111

The information in this document was obtained from sources we deem reliable; however, no warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein.

RentRoll

NOTE: All leases are on 4% Annual Increases. Utilities are paid for by tenants on a pro rata basis (PG&E, water and garbage) based on tenants square footage.

RentRoll/FinancialAnalysis

FinancialAnalysis

GrossIncome: $205,524AnnualExpenses:Insurance: $3,368Property Taxes est. based on new sales price: $43,945Legal: $879Maintenance: $5,578Utilities (tenants pay their pro rata share):TotalAnnualExpenses: $53,770NetOperatingIncome: $151,754CapRate: 3.8