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

proudly present

18–22 BOARDMAN

SOMA Mixed Use.

sold in just 6 days.

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.

Address18–22 Boardman Place
NeighborhoodSouth of Market (SOMA)
Number of Units3 (2 residential, 1 commercial)
Building AreaNo. 18: 650 sqft
No. 20: 1,039 sqft
No. 22: 1,122 sqft
Total: 2,811 sqft (per appraisal)
3,016 sqft (tax records)
Parking3-4, outdoor, secure
LaundryFull-size, stacked washer + dryer in each residential unit
Parcel Number3779/074
Year Built1923
ZoningNon-conforming, legal SALI
Parcel Size26.667 ft x 76.5 ft (2,039 sqft)
Historic Category"C" None

The Photos.

THE LOCATION. LOCATION. LOCATION.

The Numbers + Projections.

UnitConfigurationCurrent RentMarket RateInformation
18Ground-floor commercial, food prep, storage, bathroom$2,500/mo$2,500Move-In: Mar. 1, 2014
Term: 5 years
Option: 1 5-year at then-current market rate rent
202nd-floor, 2-bed, 2-bath + den$4,140/mo$4,417/mo*Move-In: Jul. 26, 2013
Tenants pay PG&E, Internet/cable
22Top-floor, 2-bed, 2-bath + denN/A$4,750
MiscParking 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
CurrentProjected*
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

The 360° Tour.

(IO 360 or Google Chrome required to experience the full 360-degree video)

The Lay of the Property.

The information contained in this material is deemed to be reliable and accurate but it is unverified. Potential buyers should take all steps necessary to satisfy themselves regarding the information contained herein or any other matter related to the property they see fit. 

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Kevin K. Ho, Esq. + Jonathan B. McNarry
San Francisco Real Estate Experts
+1-415.297-7462 (Kevin)
+1-415.215.4393 (Jonathan)
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