(PRWEB) August 13, 2012
Bancap Self Storage Group, Inc., the “#1 Self Storage Broker in California,” recently announced that it will soon begin marketing and sales activities for a very rare self storage investment opportunity in San Francisco, California. The firm was selected as the exclusive listing broker for 19th Avenue Self Storage.
19th Avenue Self Storage is an infill, multi-level conversion self storage property located at 4050 19th Avenue in the Ingleside District of the city near Daly City.
The project contains approximately 33,000 net rentable square feet of storage space in over 800 rental units. The property offers numerous options for tenants including interior units, exterior drive-up units, climate controlled units, wine storage lockers and 24-hour access units.
The property is currently over 95% occupied both on a physical and economic basis. As the overall occupancy in the area is also approximately 95%, it appears this property has additional upside potential to increase value with increased rental rates.
"There have been very few storage properties available for sale in San Francisco,” said Dean Keller, President of Bancap Self Storage Group. “This is a rare opportunity to purchase a well located facility with high occupancy in a very desirable market and tremendous barriers to entry.”
An additional factor that makes this property attractive to potential investors is the opportunity to either buy the entire property outright or to participate in a recapitalization of the property with some of the existing owners remaining providing continued property management for the facility. The current property management team will also stay in place for an outright purchase if the buyer desires.
Bancap Self Storage Group is the top selling broker of self storage facilities in California with over $950 million in completed sales. The company has specialized exclusively in self storage properties for over 27 years. The firm has recently brokered several lender-owned “REO” properties, as well as several first-class high occupancy properties that were very profitable. The firm has also facilitated numerous self storage portfolio sales in the state.
For more information contact Dean Keller, President of Bancap Self Storage Group at (949) 888-5355 or visit the company web site at http://www.bancapselfstorage.com