
Buyer Representation


Buyer Representation
24-Unit Lower Nob Hill: Realistic Underwriting Wins in a Market Full of Inflated Pro Formas
San Francisco, CA
11,800
sq.ft
Overview
I represented the buyer in acquiring a 24-unit multifamily building in San Francisco's Lower Nob Hill. In a market where sellers routinely present inflated pro formas, I took the opposite approach—I built a concise, defensible underwriting package that substantiated our price and terms. I modeled rent-control turnover realistically, normalized operating expenses against actuals, and sized NOI growth based on what was provable, not aspirational. That credibility got us to the table and kept us there through diligence. If you're buying multifamily in SF, the math has to be honest. I'll make sure it is.
Value Delivered
Built a defensible underwriting package to substantiate price and terms
Modeled rent-control turnover to project realistic NOI growth
Normalized operating expenses against actuals to avoid overpaying
Organized unit access, inspections, and lease-file reviews
Aligned appraisal and lender diligence to hit closing timeline
Deal Highlights
Location
Purchase Price
$
5,100,000
Want to understand how this approach applies to your property? Let's talk.

Angus MacDonald
Contact
Your Property. Your Strategy. Let’s Get It Right.
Whether you're buying, selling, or navigating something more complex, I'll define the smartest path forward with you.
