217 PARAMOUNT DRIVE - images1.loopnet.com · 217 PARAMOUNT DRIVE. CONFIDENTIALITY AND DISCLAIMER....

MULTI-FAMILY APARTMENT BUILDING AVAILABLE FOR SALE | 4 UNITS

BRETT [email protected] #00893787

FOR MORE INFORMATION, PLEASE CONTACT:

MICHAEL [email protected] #01962674

JERRY [email protected] #01985183

STEVE [email protected] #02036895

MILLBRAE CALIFORNIA217 PARAMOUNT DRIVE

CONFIDENTIALITY AND DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Capital Realty Group and should not be made available to any other person or entity without the written consent of Capital Realty Group. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Capital Realty Group has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements there on, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Capital Realty Group has not verified, and will not verify, any of the information contained herein, nor has Capital Realty Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all the information set forth herein.

SPECIALCOVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic.

Capital Realty Group has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Capital Realty Group and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and proforma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.

DO NOT DISTURB TENANTS.ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR AGENT FOR MORE DETAILS.






PROPERTY OVERVIEW

Property Address 217 Paramount Drive, Millbrae, CA

Offering Price $1,900,000

Unit Mix Four (4) 1 Br / 1 Ba

Price Per Unit $475,000

Gross Bldg. Square Feet 2,640

Lot Size 5,335

Price Per Square Foot $719.70

Laundry Onsite, machines owned

Parcel Number 021 276 050

Year Built 1948

MILLBRAE CALIFORNIA

217 PARAMOUNT DRIVE






AREA OVERVIEW

The Bay Area is the birthplace and continued epicenter of innovation and technology in the U.S, as most of the world’s largest technology firms as well as financial institutions are headquartered here, while numerous others maintain satellite offices in order to conduct business in the perpetually strong economic ecosystem. The Bay Area is also home to many world class educational institutions, which only further attract a skilled labor force.






MILLBRAE CALIFORNIA

217 PARAMOUNT DRIVE

AREA OVERVIEW

San Francisco is recognized worldwide for its spectacular physical beauty, culture, business opportunities, and pristine weather. The demand for housing in the area has remained historically strong due to significantly higher than average job growth. The City of San Francisco is only 49 square miles and is surrounded by water on three sides, which has naturally restricted the amount of available housing. As the population of the Bay Area has continued to expand, housing prices have risen dramatically and commuting in and out of the City of San Francisco has become especially challenging. This positions Millbrae as an excellent location due to its close proximity to San Francisco, BART, Caltrains, the San Francisco International Airport, and Highways 101 and 280.

Located in a quiet neighborhood on the westside of El Camino Real, 217 Paramount has a fantastic, off-Broadway location which positions it close to an innumerable amount of shops and restaurants, as evidenced by a Walkscore of 92. This, plus a close proximity to the southern most BART station on the peninsula, positions 217 Paramount as highly sought after and desirable living quarters.

SAN BRUNO

SOUTHSAN FRANCISCO

217 PARAMOUNT DR

MILLBRAE






MILLBRAE CALIFORNIA

217 PARAMOUNT DRIVE

PLAT MAP






MILLBRAE CALIFORNIA

217 PARAMOUNT DRIVE

Tax Map 217 Paramount Dr, Millbrae, CA 94030

Tax Map 217 Paramount Dr, Millbrae, CA 94030 7/24/2020 Page 1 (of 1)

This report is only for the myFirstAm user who applied for it. No one else can rely on it. As a myFirstAm user, you already agreed to our disclaimer regarding third party propertyinformation accuracy. You can view it here: www.myfirstam.com/Security/ShowEULA. ©2005-2020 First American Financial Corporation and/or its affiliates. All rights reserved.

PROPERTY PHOTOS






FLOOR PLAN






MILLBRAE CALIFORNIA

217 PARAMOUNT DRIVE

RENT ROLL

UNITS BD/BA CURRENT MARKET LEASE STATUS

# Rent Rent

01 1BR/1BA $1,995 $2,250 Month to Month




Total $8,335 $9,000

Laundry Income (estimated)Laundry Income (estimated) $25.89 $25.89 $25.89 $25.89

Total Expected Income MonthlyTotal Expected Income Monthly $8,361 $8,361 $9,026 $9,026






MILLBRAE CALIFORNIA

217 PARAMOUNT DRIVE






OPERATING EXPENSESProperty Tax (new at 1.1082%) $21,055.80

Special Charges $679.22

PG&E $146.97

Water $703.60

Garbage $1,271.40

Repairs $2,974.98

Landscaping $1,200.00

Insurance $1,827.00

Management Fee (6%) $6,001.20

Total $35,860.17

Gross Scheduled Income $100,331

Vacancy Expense (3% - Estimated) $3,001

Annual Expenses $35,860.17

Percent of Expenses to Income 35.74%

Net operating income $61,470

Cap Rate 3.24%

GRM 19.00

Purchase Price $1,900,000.00

MILLBRAE CALIFORNIA

217 PARAMOUNT DRIVE

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