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Kevin K. Ho, Esq. + Jonathan B. McNarry

proudly present

18–22 BOARDMAN

SOMA Mixed Use.

sold in just 6 days.

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Marketed By:
Kevin K. Ho, Esq.
Jonathan B. McNarry

MLS No. 464719

Top Producers, Top 21 Vanguard Properties, Top 1-2% of San Francisco Agents

LISTED AND SOLD: 18–22 Boardman Place, San Francisco
SOMA Mixed-Use Building

18-22 Boardman is a fully detached, high-income, mixed-use building with 2 residential flats, a popular ground-floor sandwich shop + secure 3-4 car parking located on a quiet one-way side-street near SOMA’s tech hub. With major updates in 2007, the building has many luxe finishes and attractive features including en-suite bathrooms, full-sized in-unit laundry for each flat, chef’s kitchens with islands + stainless appliances, gas fireplaces, video intercom. An immaculate, stylish, top-floor, 2-bed, 2-bath unit will be delivered vacant. Res. tenants fr. 2013, sandwich shop fr. 2014, which is only open 10-5 weekdays. Perfect for an owner-occupier who wants $6,600+ in monthly income or investor looking for a high cap rate trophy property.

Offered at:

$1,600,000

SOLD (with multiple offers including one financed offer over the sale price):

$2,038,000

Unit Features

No. 22

Upgraded master en suite bathroom
Wolf, 4-burner gas stove/oven
Kobe stainless steel hood
Buddy Rose concrete island
KitchenAid stainless steel French-door refrigerator/freezer
Bosch dishwasher, InSinkerator garbage disposal, 27-in wide sink
Quartz countertops, upgraded tile backsplash
Remote-control gas fire place
New LED lighting
Full-Size in-unit laundry
Wood floors
Designer paints and colors

Unit Features

No. 20

En suite bathroom
Bertazzoni, 4-burner gas stove/oven
Kobe stainless steel hood
Buddy Rose concrete island
DCS stainless steel French-door refrigerator/freezer
Bosch dishwasher, garbage disposal, 27-in wide sink
Quartz countertops, upgraded tile backsplash
Remote-control gas fire place
Halogen Track lighting
Full-Size in-unit laundry
Wood floors

CONTACT US.

Have a question? Want to setup a showing?

Feel free to call or text us…

Kevin (415) 297-7462

Jonathan (415) 215-4393

BULLET POINTS.

Address	18–22 Boardman Place
Neighborhood	South of Market (SOMA)
Number of Units	3 (2 residential, 1 commercial)
Building Area	No. 18: 650 sqft No. 20: 1,039 sqft No. 22: 1,122 sqft Total: 2,811 sqft (per appraisal) 3,016 sqft (tax records)
Parking	3-4, outdoor, secure
Laundry	Full-size, stacked washer + dryer in each residential unit
Parcel Number	3779/074
Year Built	1923
Zoning	Non-conforming, legal SALI
Parcel Size	26.667 ft x 76.5 ft (2,039 sqft)
Historic Category	"C" None

The Photos.

THE LOCATION. LOCATION. LOCATION.

The Numbers + Projections.

Unit	Configuration	Current Rent	Market Rate	Information
18	Ground-floor commercial, food prep, storage, bathroom	$2,500/mo	$2,500	Move-In: Mar. 1, 2014 Term: 5 years Option: 1 5-year at then-current market rate rent
20	2nd-floor, 2-bed, 2-bath + den	$4,140/mo	$4,417/mo*	Move-In: Jul. 26, 2013 Tenants pay PG&E, Internet/cable
22	Top-floor, 2-bed, 2-bath + den	N/A	$4,750
Misc	Parking Space	$100	$600	$200/space
	Gross Revenues	$6,740/mo $80,880/yr	$12,267/mo $147,204/yr	*Banked rent increase estimate available in August 2018

	Current	Projected*
Gross Income	$79,680	$147,204
Expenses
Property Taxes	$18,508	$18,757
Insurance	$2,870.73	$3,000
Utilities (Garbage, Water, Common Electricity)	$6,499	$6,500
Maintenance	$1,184	$1,200
Net Operating Income	$51,627	$117,747

Assumptions
Cash on Cash = 10.43°	Cap Rate = 7.36%	GRM = 10.87
	°based on 25% down, 25-year mortgage at 4% interest	*based on purchase of $1.6M