1580-1582 Sanchez Street
Noe Valley, CA
Offered at $1,550,000 • Sold
This fantastic three unit investment property in the heart of Noe Valley consists of a traditional building in front with a flex floor plan of two 2BD/1BA units (1580 and 1582) and a two level 2BD/1BA cottage in the rear (1580A). 1582 Sanchez will be delivered vacant and has beautiful period details as well as a newly remodeled kitchen and hardwood and in unit laundry. 1580 Sanchez is a light filled top floor unit with period details and hardwood floors throughout with laundry in unit as well. The building is just minutes from the shops on 24th Street, Church and Valencia as well as beautiful outdoor escapes like Glen Park Canyon, Billy Goat Hill Park and the Noe Valley Tennis Courts.
ANNUAL OPERATING EXPENSES
|
Expenses |
Actual 2013 |
|
Property Tax |
$17,976.46 |
|
Insurance |
$1,677.00 |
|
Water & Sewer |
$1,811.11 |
|
Garbage |
$1,146.89 |
|
Misc. |
$260.00 |
|
TOTAL |
$22,871.46 |
SCHEDULED INCOME
|
Rent |
Current |
Market |
|
Lower: 2BD / 1 BR |
VACANT |
$3,850.00 |
|
Upper: 2BD / 1 BR |
$3,260.80 |
$3,850.00 |
|
In-law: 2BD / 1 BR |
$1,660.00 |
$3,600.00 |
|
TOTAL |
$4,920.80 |
$11,300.00 |
FINANCIAL SUMMARY
|
Price |
$1,450,000 |
|
Units |
3 |
|
Price/Unit |
$483,333 |
|
Gross Sqft |
3,100 |
|
Price/Sqft |
$1,033 |
|
Cap Rate with Top Unit Occupied |
5.27% |
|
GRM with Top Unit Occupied |
13.8 |