Highlights

• 115 Room Residential Hotel/SRO (115 SRO Units).
• 16 Ground Floor Commercial Spaces in One of the Busiest Areas of San Francisco – Central Chinatown.
• Located in the Heart of Chinatown; Surrounded by Restaurants, Shopping, and Major Public Transportation Hubs.
• Just Steps Away from the Up-and-Coming Chinatown Central Subway Station currently under construction at the intersection of Stockton and Washington.
• Tons of Upside Potential; Market Rents and Real Estate Values in this area of San Francisco are Rising Dramatically.
• Rare Opportunity to Acquire a Mixed-Use Building in Chinatown, One of the Most Sought After Sub-Markets in San Francisco.

Description

FOR MORE INFORMATION AND AN OFFERING MEMORANDUM, PLEASE EXECUTE AND RETURN THE ATTACHED CONFIDENTIALITY AGREEMENT (“CA”) ABOVE.

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858 Washington Street is a 115 room residential hotel centrally located in the heart of San Francisco’ s Chinatown district. There are 115 Single Room Occupancy ( SRO ) licensed rooms, whereas currently 114 of these rooms are being leased as residential units. 90 of the rooms are single rooms, and 24 of the rooms are double rooms that include kitchens. There are also two community kitchens in the building, located on the 2nd and 3rd floors. There are 16 shared toilets and 11 shared showers/tubs. This 34,288 square foot, 115 room residential hotel, is a four story building, with 16 commercial spaces on the ground floor. All commercial tenants are on month-to month leases.

This is a rare opportunity for an owner/operator to purchase a property in one of the strongest commercial real estate markets in the world, and one of the most central, convenient, and established commercial districts in San Francisco.

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Chinatown, with its rich history and bustling commercial corridors, is one of the most sought after sub-markets within the City of San Francisco, and this class of asset rarely becomes available.

858 Washington is a Residential Hotel, mixed-used building, located in the heart of San Francisco’ s Chinatown District on the edge of North Beach, and within walking distance from the Financial District and Union Square. The property is surrounded by shopping, restaurants, tourist attractions, and a multitude of nightlife options, including art, culture, and an incredibly diverse and vibrant restaurant, bar, and social scene. San Francisco’ s Chinatown is the largest Chinatown outside of Asia as well as the oldest Chinatown in North America. It is one of the top tourist attractions in San Francisco, drawing more visitors annually than even the Golden Gate Bridge.

In addition to being located in one of the most sought after areas of San Francisco, 858 Washington is just steps away from San Francisco’s major public transportation hubs, multiple Muni lines, and the up-and-coming Chinatown Central Subway Station.

Financial Summary

Room Mix Information

• Proforma
• Year
  2014
• Scheduled Gross Income
  $916,307
• Operating Expenses
  $41,520
• Net Operating Income
  $501,286