193 Pine Street In-Process Multifamily Development

Property Description

18-Unit Multifamily Development ProjectMedical District Location
Central to Major Employment Anchors with 112,000+ White-Collar Jobs
Ask Price             $600,000 or $33,333/UnitCost to Complete                $80,000-$100,000/Unit (estimate)AS BUILT Value                   $200,000/UnitAvg. Unit Size                      1,084 sf INVESTMENT HIGHLIGHTSPlanned as 3-story office conversion into 18 multifamily residences, 193 Pine Street was purchased out of bankruptcy as a partially completed adaptive reuse.Construction stopped with framing completed and 25% of the building roughed out. Electrical and plumbing are in on the first two floors. An excellent opportunity for a developer, the project features 15 2-Bedrooms, 3 1-Bedrooms with an average Unit Size of 1,084sf, a total Rentable SF of 19,516sf, an elevator shaft, and ample onsite parking.  DOCUMENT CENTER at top right of page includes:OM with Proforma, Phase I, Survey, Title Work, Property Condition Assessment (PCA), Construction Drawings (CDs)