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Sheila K. Robello (SBN 209300)
Richard R. Shu (SBN 297074)
Solan, Park & Robello
354 Pine Street, 5" Floor
San Francisco, California 94104
Telephone: (415) 777-3300
Facsimile: (415) 777-3301
Attorneys for Petitioner
Leo F. Bautista, Successor Trustee
SUPERIOR COURT OF CALIFORNIA
COUNTY OF SAN FRANCISCO
In Re
San Lee and Mui Chow Lee
Revocable Trust dated
March 24, 1995, as amended
December 22, 2004
ELECTRONICALLY
FILED
Superior Court of Catifornia,
County of San Francisco
01/18/2018
Clerk of the Court
BY: AISHA NELSON
Deputy Clerk
Case No.: PTR-12-296124
[Signature by Facsimile]
PETITION FOR ORDER
AUTHORIZING TRUSTEE TO
CONTINUE REBUILD OF TRUST
PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST
PROPERTY TO FINANCE THE
REBUILD
Date: 2/08 1Y of te set SLA
Time: 9:00A
Dept.: 204
Petitioner Leo F, Bautista, Successor Trustee of the San Lee and Mui Chow Lee
Revocable Trust dated March 24, 1995, as amended, respectfully alleges as follows:
1. Standing, Petitioner is the sole trustee of the San Lee and Mui Chow Lee
Revocable Trust dated March 23, 1995, as amended, and thus has standing to bring this petition.
1
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD2. History of Proceedings. San Lee and Mui Chow Lee, husband and wife,
executed the San Lee and Mui Chow Lee Revocable trust on March 24, 1995, The Trust was
subsequently amended five times. The last amendment was executed on December 22, 2004.
BE San Lee died on October 4, 1996. Mui Chow Lee died on November 25, 2009.
4. On December 13, 2013, by order of this Court, Petitioner was appointed successor
trustee of the Trust. At all times since, Petitioner has been and is currently the successor trustee
of the Trust.
5. At the time Petitioner was appointed as trustee, the only asset of the Trust was a
parcel of real property located at 134 Athens Street, San Francisco, CA 94112. Two weeks after
Petitioner was appointed, on December 31, 2012, the trust real property was destroyed in a fire.
Over the last several years since the fire, Petitioner has been diligently working with the Court,
the city, the insurer, an architect and numerous contractors to demolish what was left after the
fire and to rebuild the property.
6. On August 27, 2014 this Court granted an order authorizing Petitioner to rebuild
and sell the trust property located 134 Athens Street, San Francisco, CA 94112. The rebuild is
still in progress but has been impeded by several lengthy delays from the City of San Francisco
in approving the rebuild plans, addressing concerns and objections of neighbors, and obtaining
building permits. On or after April 2017, the City approved the necessary permits to continue the
rebuild.
ae As of the end of the last account period, October 8, 2016, the trust estate consisted
of the property located at 134 Athens Street, San Francisco 94112 and a checking and savings
account at Bank of America totaling $45,901.68.
2
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDN
nw
8. Now that the necessary permits for rebuild have been obtained, Petitioner requests
authority to 1) rebuild the trust property located at 134 Athens Street, San Francisco, CA 94112
(hereafter also referred to as “Athens Street Property”), 2) hire Curran and Associates General
Contractors, Inc., to complete the rebuild of the trust property located at 134 Athens Street, San
Francisco, CA 94112, and 3) obtain a hard money loan to finance the remaining portions of the
rebuild.
9. Request for Authority to Continue Rebuild of Trust Property Located at 134
Athens Street. The Court authorized Petitioner to rebuild the property by court order dated
August 27, 2014. Petitioner wishes to advise the Court of the status of the rebuild and the
prudence of completing the rebuild at this time.
10. In 2014, when Petitioner sought authority to rebuild the Athens Street property,
the approximate expenses and receipts were detailed as follows:
Insurance pay for rebuilt house $242,500.00
Approximate Sale Price $738,000.00
Costs of Sale (6%) $(47,000.00)
Costs to Rebuild $448,825.00
Net to Trust $484,675.00
11. Since 2014, the San Francisco real property has appreciated significantly and the
landscape of the housing market and renovations has shifted. Petitioner would like to advise the
Court on the new circumstances and the projected outcome of the options at this juncture.
Petitioner currently has two options: 1) sell the property in its current unimproved condition, or
2) complete the rebuild and sell the property.
Option 1: Sale of Property in Current Unimproved Condition
12. The first option would be to sell the lot in its current condition with the plans to
rebuild, but not perform the rebuild. The previous building structure has been demolished, the
3
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDarchitectural plans have been drawn, the permits have been obtained, and the property is ready to
be rebuilt. Although a vacant residential lot is much less valuable than a single family residence,
due to San Francisco’s strong housing and real estate market, vacant residential lots still have
significant value. Petitioner’s realtor, Tim Curran, has provided an opinion that the projected
market value of the vacant lot at 134 Athens Street, would be $300,000.00.
13. Petitioner has also obtained several comparable sales from his realtor and the
public record to support this valuation. There have not been many comparable sales within the
last year, but the information that was available and relevant is reflected in the chart below.
Vacant Lot Comparable
Address Type Size (Sq. | Sales Sale Price Notes
Ft) Date
134 Athens Street Lot 1,873 N/A N/A Excelsior
SF, CA 94112 Neighborhood;
(Subject Property) Plans included
154 Delta Street Lot 2,500 7/26/2017 | $295,000.00 | Two parcels sold
SF, CA 94134 together 152 Delta
and 154 Delta;
2,500 square foot
for both parcels;
Visitacion Valley
Neighborhood; No
| plans included
907 Innes Ave Lot 2,500 7/5/2017 $275,000.00 | Hunter’s Point
SF, CA 94124 Neighborhood; No
plans included
85 Mansfield Street | Lot 2,375 12/6/2016 | $475,000.00 | Excelsior, No
SF, CA 94112 plans
650 Peru Ave Lot 1,899 3/17/2017 | $307,000.00 | Excelsior; No
SF, CA 94112 and (Parcel 1 plans; Two parcels
6/13/2017 | sold for marketed together,
$95,000, but sold
Parcel 2 sold | separately; 1,899
for square foot for
$212,000) both parcels.
4
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDCm ND KH BF
14. The lack of data and small sample size makes it difficult to accurately project the
value of the Athens Street property. Based on the available data from comparable sales in the last
year, the data seems to indicate that the property at 134 Athens Street, sold in its current
condition with architectural plans for a rebuild, supports a fair market value of $300,000.00.
15. Between May 24, 2017 and August 23, 2017, the average home price in Excelsior
where the subject property is located, was $992,500.00 based on 22 home sales (Per Trulia,
https://www.trulia.com/real_estate/Excelsior-San_Francisco/ 1406/market-trends/). The average
price per square foot for Excelsior was $737.00 (Per Trulia, https://www.trulia.com/real_estate/
Visitacion_Valley-San_Francisco/1472). The median sales price for homes in Visitacion Valley
for the same period, based on 10 home sales, was $878,000.00 and the average price per square
foot was $736.00. The average home price in Hunters Point was $633,000.00 and an average
price per square foot of $459.00 (Per Trulia, https://www.trulia.com/real_estate/ Hunters_Point-
San_Francisco/1418/market-trends). This indicates that property in Excelsior, in general, is more
valuable than property in Visitacion Valley, which in turn is more valuable than property in
Hunters Point. Thus, despite having larger lot sizes, the comparables in Visitacion Valley and
Hunters Point are not necessarily worth more than the smaller Athens Street property.
16. The closest comparable is likely to be 650 Peru Ave, San Francisco, CA 941 12.
The property is almost the exact same size (1899 square foot vs. 1873 square foot), sold within
the last 6-8 months, and is located on the same block (443 feet away, per Google Maps) from the
Athens Street property. The property at 650 Peru Avenue is made up of two parcels APN Block
5960 Lot 027 (hereafter Parcel 1) and APN Block 5960-026 (hereafter Parcel 2) and has a
combined lot size of 1,899. According to public record, Parcel 1 sold for $95,000.00 in March
5
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD2017 and Parcel 2 sold for $212,000.00 in June 2017. Petitioner was unable to find additional
information regarding the lot sizes of each of the individual parcels.
17. In total both parcels associated with 650 Peru Avenue sold for $307,000.00,
which translates to $161.00 per square foot. At the same price per square foot, the Athens Street
property would be valued at $301,553.00. Additionally, the Athens Street property has
architectural plans that have been approved for building by the city of San Francisco, which is an
added value to the property. Thus, $300,000.00 is a reasonable approximation of the value of the
Athens Street property.
18. If the Athens Street property is sold in its current condition for $300,000.00, the
net proceeds payable to the trust would be approximately $147,876.23 calculated as follows:
Approximate Sale Price of Athens Street Property, $300,000.00
in current condition (vacant residential lot)
Estimated Realtor’s Commission at 10%* ($30,000.00)
Estimated Closing Costs of Sale (1%) ($3,000.00)
Alex Korn’s Unpaid Base Fees (70% of ($18,585.00)
$26,550.00)
Alex Korn’s Contract Commission Fees (9% of $0.00
sales price over $500K (unpaid))
Alex Korn’s additional hourly fees to-date ($44,542.40)
Trustee Fees authorized by court order from 2nd ($20,641.25)
Report and Account (not including interest)
Attorney’s Fees authorized by court order from ($12,422.12)
2nd Report and Account (not including interest)
Estimated additional trustee’s fees ($10,933.00)
Estimated additional attorneys’ fees and costs ($12,000.00)
Estimated capital gains tax $0.00
Total: $147,876.23
*10% commission based on local rule 14.57(b),
for unimproved property
19. For each additional $1,000.00 increase in the sales price, it is estimated that the
trust would receive approximately an additional $890.00.
6
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD.Option 2: Rebuild and Sale of Property
20. The second option would be to complete the rebuild and then sell the Athens
Street property. As mentioned above, the architectural plans have been drawn, the permits have
been obtained, and the final step remaining is to complete construction of the rebuild. Petitioner
has been informed by several contractors that the rebuild construction would be completed in
approximately nine months.
21, Once rebuilt, the house would be marketed for sale on the MLS, Petitioner has
received a broker’s opinion of the rebuilt property. The broker’s opinion projects the fair market
value of the property to be $1,350,000.00, and is attached as Exhibit A and incorporated by
reference for all purposes. Despite a projected fair market value of $1,350,000.00 based on the
comparable sales, Petitioner has been informed by the realtor that a realistic sales price for the
property should be estimated more conservatively at $1,200,000.00. This is due in part to the
uncertainty of the estimated market conditions in 2018 when the rebuild is projected to be
completed. In the realtor’s experience and knowledge of the neighborhood and nearby properties,
he estimates that the sales prices may be closer to $1,200,000.00. As such, the projected net
proceeds are based on a lower and more conservative $1,200,000.00 sales price. After the sale
and payment of expenses, the trust would net approximately $157,613.87, calculated as follows:
Approximate Sale Price of rebuilt Athens Street $1,200,000.00
Property
Estimated Realtor’s Commission at 5%* ($60,000.00)
Estimated Closing Costs of Sale ($12,000.00)
Alex Korn’s Unpaid Base Fees (70% of ($18,585.00)
$26,550.00)
‘Alex Korn’s Contract Commission Fees (9% of ($63,000.00)
sales price over $500K)
Alex Korn’s additional hourly fees to-date ($44,542.40)
Alex Korn’s estimated hourly fees to complete ($16,000.00)
Trustee Fees authorized by court order from 2nd ($20,641.25)
Report and Account (not including interest)
7
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDoC mM IN OD HW Bw NY
Attorney’s Fees authorized by court order from ($12,422.12)
2nd Report and Account (not including interest)
Contractor’s Bid (plus 10% overage) ($681,000.00)
Cost of Loan (commission, closing costs, etc.) ($20,000.00)
12 months of interest payments on loan (nine ($71,262.36)
months for rebuild and three months to sell)
Estimated additional trustee’s fees ($10,933.00)
Estimated additional attorneys’ fees and costs ($12,000.00)
Estimated capital gains tax from sale of ($0.00)
property**
Total: $157,613.87
*5% commission based on local rule 14.57(a) for
improved property.
**based on projected architect and construction
fees the trust accountant Donelda Bernard has
estimated the sale of the property to generate a
loss for capital gains purposes.
22. Petitioner has also negotiated with the architect to reduce the architect fees in
order to preserve more of the trust estate. The architect Mr. Korn has agreed to forego currently
unpaid hourly fees incurred, under the contract, between August 29, 2014 through November 22,
2017 in the amount of $44,542.40, provided that the Athens Street property is rebuilt per plan,
the property is sold, and Alex Korn, and his architecture firm Catamount Designs, receives 9% of
any excess in sales price over $500,000.00, pursuant to paragraph 11.2.1 of the contract. If the
Athens Street property is not built and is instead sold as a vacant lot, Alex Korn and Catamount
Design have expressed that they will seek full remuneration under sections 11.2 and 11.5 of the
contract, meaning that they will seek immediate payment of the remaining $18,585.00 in unpaid
base fees, and $44,542.40 in unpaid hourly fees for services incurred between August 29, 2014
through November 22, 2017, pursuant to section 1 1.5.2 of the contract. Per the contract, this
remuneration is due five days from the date of Catamount Design’s invoice of these amounts.
Mr. Korn’s letter and time sheets in support of this arrangement, and his fees are attached hereto
8
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDas Exhibit B. By waiving $44,542.40 in hourly fees, the trust would net approximately
$202,156.27 less any additional capital gains taxes, calculated as follows:
Approximate Sale Price of rebuilt Athens Street $1,200,000.00
Property
Estimated Realtor’s Commission at 5%* ($60,000.00)
Estimated Closing Costs of Sale ($12,000.00)
Alex Korn’s Unpaid Base Fees (70% of ($18,585.00)
$26,550.00)
Alex Korn’s Contract Commission Fees (9% of ($63,000.00)
sales price over $500K)
Alex Korn’s additional hourly fees to-date ($0.00)
Alex Korn’s estimated hourly fees to complete ($16,000.00)
Trustee Fees authorized by court order from 2nd ($20,641.25)
Report and Account (not including interest)
Attorney’s Fees authorized by court order from ($12,422.12)
2nd Report and Account _(not including interest)
Contractor’s Bid (plus 10% overage) ($681,000.00)
Cost of Loan (commission, closing costs, etc.) ($20,000.00)
12 months of interest payments on loan (nine ($71,262.36)
months for rebuild and three months to sell)
Estimated additional trustee’s fees ($10,933.00)
Estimated additional attorneys’ fees and costs ($12,000.00)
Estimated capital gains tax from sale of property ($0.00)
Total: $202,156.27
*5% commission based on local rule 14.57(a) for
improved property.
**based on projected architect and construction
fees the trust accountant Donelda Bernard has
estimated the sale of the property to generate a
loss for capital gains purposes.
23. The hourly architect fees will total approximately $16,000 to complete the project
based on the following calculation provided by Alex Korn:
“For a normal job I would expect to do at least one site visit a week and expect 1-2 phone
calls a day from the contractor for a minimum of about 3 hours a week. If we assume a 9
month construction period that would be 3 hours (time spent per week avg) * 4 weeks/mo
*9 months (length of Construction * $140/hr (hourly rate) =$15,120.”
9
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD24. Based on a comparison of the net proceeds resulting from Option 1 and Option 2,
Petitioner believes that Option 2 would be more beneficial. Thus, Petitioner requests authority to
complete the rebuild of 134 Athens Street, San Francisco, CA 94112.
25. Contractor to Complete the Rebuild. Petitioner provides the following
information regarding the contractor bid used in the calculation above for the rebuild of the
Athens Street property. Since receiving the issued permits, Petitioner has contacted ten (10)
different contractors throughout the Bay Area, including contractors in San Francisco, Daly City,
Hayward and Castro Valley. Petitioner contacted most, if not all, of the contractors each at least
three separate times. However, due to the renovation boom throughout San Francisco and the
Bay Area, contractors have not had the time or interest in submitting written bids.
26. Out of the ten contractors contacted, Petitioner received four bids to complete the
rebuild, including two verbal bids and two written bids. The first written bid was from Low’s
Construction, 90 Lucott Street, Hayward, CA 94541. Luis Low’s initial written bid was for
$673,176.00. The estimated time of completion for the rebuild by Luis Low was eight (8)
months. Luis Low also informed Petitioner that the cost to rebuild the sidewalk would be an
additional $25,000.00 to $30,000.00, additional building costs, permits, utilities, and inspection
fees bring the total amount needed to complete the rebuild to a total of $703,176.00. Exhibit C
shows an itemized explanation of the additional costs. On 9/1/2017, while preparing this petition,
Petitioner received notice from Luis Low that he had withdrawn his bid. The renovation boom in
the San Francisco and Bay Area, has led to a lack of contractors qualified and willing to take on
these renovations.
27. The second written bid was submitted by Curran & Associates General
Contractors, Inc., (“Curran and Associates”) 90 Lagunitas Drive, San Francisco, CA 94132. The
10
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDCoO Om ND HW BF WN
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bid from Curran and Associates of $618,949.55 is attached as Exhibit D. This bid includes the
cost of rebuilding the side walk in front of the property. Curran and Associates estimated the
completion time for the project to be 36 weeks, or about 9 months.
28. As for the two verbal bids, the first verbal bid was by CBW Construction, 1618
Sullivan Ave #377, Daly City, CA 94015. Ben Wong from CBW Construction provided an
estimate of about $400 per square foot of the project, or approximately $800,000.00. The second
verbal bid that was received, was for $850,000.00 and was provided by Mark Edwards of GMI
Construction, 4061 E Castro Valley Blvd, Suite 476, Castro Valley, CA 94552. Petitioner has
summarized his efforts to contact contractors and obtain bids in the chart in Exhibit E, attached
hereto and incorporated by reference for all purposes.
29. All of the bids, except for the one submitted by Curran and Associates, were
obtained based on a permit set that had been approved by the City of San Francisco for the site
permit, architectural permit, and structural permits. After approval by the City of San Francisco,
the permits had to be approved by the Department of Public Works (DPW). The DPW reviewed
the permits and approved them, but also added a requirement that the sidewalk in front of 134
Athens Street, San Francisco, CA 94112, be replaced and rebuilt. Thus, except for the Curran
and Associates bid, the bids do not include the cost to fix and rebuild the sidewalk in front of the
Athens Street Property, unless otherwise stated.
30. Architect’s Fees, The original contract agreement with the architect Alex Korn
included a $26,550.00 base fee for the architectural work which included: schematic design,
design development, construction documents, bidding or negotiation, and construction. Due to
the budget constraints of the trust funds at the time of entering the contract, Petitioner and Alex
Korn agreed to delay the payment of 70% of his base fee until the completion of the project and
i
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDsale of the property. In exchange for the deferred payment, Alex Korn would receive a 9%
commission of any part the sales price that exceeded $500,000.00. At the time the property was
projected to sell for $600,000.00 upon rebuild.
31, Over the first and second account periods, payments form the trust were made to
Alex Korn for a total of $31,767.18. In the first account period the payments totaled $12,003.75
and in the second account period the payments totaled $19,763.43, The payments were
comprised of Alex Korn’s architect fees and reimbursements for obtaining permits. Of the
$31,767.18 that was paid to Alex Korn, $16,276.25 was payment of architect fees. The
remaining payments of $15,490.93 were reimbursements to Alex Korn for obtaining building
permits. Since the end of the second account period the trust has made additional payments to
Alex Korn. To date, Alex Korn has been paid $19,091.00 in architect fees.
32. The $19,091.00 is comprised of an initial 30% of the agreed upon $26,550.00
base fee from original contract, which comes out to $7,965.00, and for services provided outside
the scope of the original contract, which total $11,126.00. The out of scope services include
preparing for and attending a city planning hearing, demolition permit work, drawing set for
demolition, consultation fees, demolition bids and site visits, preparation of letters to the property
insurance company, and preparation of reports for the Athens Street Property.
33. Additionally, the contract’s base fee of $26,550.00 covered 20 hours of contract
administration fees. Contract administration fees include services for the management and
observation of the construction work. The contract states that services completed after 12 months
from the execution of the contract would be billed on an hourly basis at $140 an hour, The
contract was executed over 4 years ago and, from the one-year mark in 2014 through November
12
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD2017, Alex Korn has incurred 318.16 hours work. Alex Korn’s time sheets through November of
2017 for are attached as Exhibit B.
34, Under the contract, Alex Korn believes that he is entitled to the remaining 70% of
his base fee being $18,585.00, plus a 9% of any part of the sales price that exceeds $500,000.00
(estimated to be $63,000.00 based on a sales price of $1,200,000.00), and $44,542.40 for out of
scope work and services provided after the first year of the contract. However, after negotiations
with Petitioner, Mr. Korn has agreed to forego $44,542.40 in out of scope hourly fees. Therefore,
in addition to the $19,091.00 already paid to Alex Korn, the estimated total remaining fees due to
Mr. Korn is $78,585.00 (based on a sale price of $1,200,000.00) being $18,585.00 for 70% of the
remaining base fee and $63,000.00 as a result of the 9% commission.
35. Proposed Action. Petitioner believes that accepting the bid from Curran and
Associates is the prudent decision, because it is the only complete bid and the final cost is
projected to be lower than all of the other bids Petitioner has received. Furthermore, in
Petitioner’s experience, the $618,949.55 bid is reasonable for the work needed to complete the
rebuild. Thus, Petitioner seeks authority to retain Curran & Associates to complete the rebuild of
the trust property located at 134 Athens Street, San Francisco, CA 94112.
36. Contingency Request, Petitioner further requests that he be given the authority to
pay the contractor up to 10% more than the current bid of $618,949.55, in the event that
additional work is need to complete the rebuild of the Athens Street property. While Petitioner
does not anticipate the need for a contingency payment, having the authority now will preclude
the need to file another petition, if the situation should arise. Petitioner requests authority to pay
the contractor a total of up to $681,000.00 (rounded up from $680,844.51), which includes the
13
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDcost of the original bid plus 10%, to complete the rebuild of 134 Athens Street, San Francisco,
CA 94112.
37. Financing the Rebuild. As of the end of the last account period ending October
8, 2016, the trust estate had $45,901.68 in cash assets. As of October 6, 2017, the trust assets
totaled $23,607.24. The majority of these funds will be needed to cover the final stages of
rebuilding the property and preparation for its sale, but the funds will not be sufficient to cover
the estimated $681,000.00 needed to complete the rebuild with Curran and Associates.
38. Moreover, the trust lacks sufficient cash flow to make payments for the
construction services. The lack of cash flow has created the need for liens to be placed on the
Athens Street Property in order to ensure that Petitioner, Petitioner’s counsel and Alex Korn, the
architect assisting with the rebuild of 134 Athens Street will eventually receive payment for their
services, These liens will be paid from the proceeds of the sale of the Athens Street Property.
The following are the outstanding liens against the property:
A. By Court order dated May 13, 2015, Petitioner was authorized to record a lien
against the property located at 134 Athens Street, San Francisco in the amount of
$9,531.25, By court order dated May 2, 2017, Petitioner was authorized to place a
lien against the property located at 134 Athens Street, San Francisco in the
amount of $11,110.00. The total amount of the liens for Petitioner’s trustee’s fees
totals $20,641.25, not including any accrued interest.
B. By Court order dated May 13, 2015, Petitioner’s counsel Solan, Park & Robello,
was authorized to place a lien on the property located at 134 Athens Street, San
Francisco, in the amount of $7,538.00. By court order dated May 2, 2017,
Petitioner’s counsel was authorized to place a lien against the property located at
14
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDCem IN DW
39.
134 Athens Street, San Francisco in the amount of $4,884.13. Petitioner’s
counsel's liens against the Athens Street Property total $12,422.13, not including
any accrued interest.
. Additionally, on August 27, 2014 the Court authorized the rebuild of 134 Athens
Street, San Francisco, CA 94112, with improvements to the original structure.
This rebuild was authorized with the understanding that the architect Alex Korn
receive a base amount of $26,550.00 for his services and plus 9% of difference
between the sales prices and $500,000.00 if the Athens Street Property sold for
over $500,000.00. A broker opinion prepared by Tim Curran of Coldwell Banker
Residential Brokerage projects the Athens Street Property to sell at around
$1,300,000. These liens and liabilities will all be paid from the sale proceeds.
Since the trust does not have any sufficient liquid assets or cash flow, Petitioner
has sought to obtain a loan through a hard money lender in order to finance the rebuild and
prepare the property for sale. Petitioner has spoken with Jonathan Brooks of First Probate, a
California Corporation and hard money lender, regarding a loan that will be secured on the
Athens Street Property, in first priority against the trust’s 100% interest in the property. The
proposed terms of the loan are as follows:
a. Principal loan not to exceed $700,000.00;
b. Rate not to exceed 9.99%;
c. Monthly payment not to exceed $5,938.53;
d. Term not to exceed 60 months; and
e. Closing costs estimated to be $20,000.00 (loan commission of $15,000,
estimated title, escrow and processing fees of $5,000.00).
1S
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD40. The trust document also authorizes the trustee to obtain a loan and to encumber
trust property. Section 7.7(j) of the trust allows the trustee to
“Borrow money for any trust purpose from any person or entity, including one acting as
trustee hereunder, on such terms and conditions as the trustee deems advisable, and
obligate the trust for repayment; encumber any trust property by mortgage, deed of trust,
pledge, or otherwise , whether for terms within or extending beyond the term of the trust,
as trustee deems advisable, to secure repayment of any such loan; replace, renew, and
extend any such loan encumbrance; and pay loans or other obligations of the trust
deemed advisable by the trustee.”
41. — Thus, Petitioner requests that the Court grant him authority under Probate Code
section 17200 et seq. and under the terms of the Trust to obtain a loan in the amount of
$681,000.00 from First Probate, with the following terms, in order to meet finance the rebuild of
the Athens Street Property:
a. Rate not to exceed 9.99%;
b. Monthly payment not to exceed $5,938.53;
c. Term not to exceed 60 months; and
d. Closing costs estimated to be $20,000.00 (loan commission of $15,000,
estimated title, escrow and processing fees of $5,000.00).
42. Petitioner also requests that First Probate be authorized to secure the loan with a
lien in first priority against the property located at 134 Athens Street, San Francisco, CA 94112,
more particularly described as:
COMMENCING at a point on the northwesterly line of Athens Street, distant thereon
200 feet southwesterly from the southwesterly line of Peru Street; running thence
southwesterly along said line of Athens Street 25 feet; thence at a right angle
northwesterly 100 feet; thence at a right angle northeasterly 25 feet; and thence at a
right angle southwesterly 100 feet to the point of commencement.
BEING part of Block 67, EXCELSIOR HOMESTEAD ASSOCIATION.
APN: 5959-006
16
E TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
TRUST PROPERTY TO FINANCE THE REBUILD
PETITION FOR ORDER AUTHORIZING TRUS1
SECURED BY TH43. No Affiliate Relation. During the period of the account, there was no
relationship or affiliation between Petitioner and any agent hired by Petitioner during the
accounting.
44, Trust Beneficiaries. The names, ages and addresses of the beneficiaries of the
Trust as known to the Petitioner are:
Brian Leland Chow Adult 25 Essex St. #609
San Francisco, CA 94105
Fiona Chow Adult 9961 Waxberry Court
Las Vegas, NV 89178
Justin Chow Adult 9961 Waxberry Court
Las Vegas, NV 89178
Crystal Chow Adult 125 Olmstead Street,
San Francisco, CA 94134
Jeannette Lau St. Onge Adult 1893 Sweetwood Drive
Daly City, CA 94015
45. Request for Special Notice. No request for special notice has been filed. Notice
of this hearing will be provided as required by law.
WHEREFORE, Petitioner prays for an Order of this Court that:
1, That no further notice of this petition be required;
2. Authorizing and directing Leo F. Bautista, as successor trustee of the San Lee and
Mui Chow Lee Revocable Trust dated March 24, 1995 as amended, to hire Curran & Associates
General Contractors, Inc. to complete the rebuild of the trust property located at 134 Athens
Street, San Francisco, CA 94112, at an approximate cost of $618,949.55;
3. Authorizing and directing Leo F. Bautista, as successor trustee of the San Lee and
Mui Chow Lee Revocable Trust dated March 24, 1995, as amended, to pay Curran & Associates
17
= TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
TRUST PROPERTY TO FINANCE THE REBUILD
PETITION FOR ORDER AUTHORIZING TRUS
SECURED BY THGeneral Contractors, Inc., up to $681,000.00, to include a 10% overage of the approved bid of
$618,949.55, without court order, for additional work needed to complete the rebuild;
4. Authorizing and directing Leo F. Bautista, as successor trustee of the San Lee and
Mui Chow Lee Revocable Trust dated March 24, 1995 as amended, to obtain a loan in the
amount of $681,000.00 from First Probate. The terms of the loan are as follows:
a. Rate not to exceed 9.99%;
b. Monthly payment not to exceed $5,938.53;
c. Term not to exceed 60 months; and
d. Closing costs estimated to be $20,000.00 (loan commission of $15,000,
estimated title, escrow and processing fees of $5,000.00).
5. Authorizing First Probate to place a lien on trust real property located at 134
Athens Street, San Francisco, California, for the loan amount of $681,000.00. The trust property
located at 134 Athens Street, San Francisco, California is more particularly described as:
COMMENCING at a point on the northwesterly line of Athens
Street, distant thereon 200 feet southwesterly from the
southwesterly line of Peru Street; running thence southwesterly
along said line of Athens Street 25 feet; thence at a right angle
northwesterly 100 feet; thence at a right angle northeasterly 25
feet; and thence at a right angle southwesterly 100 feet to the point
of commencement,
BEING part of Block 67, EXCELSIOR HOMESTEAD
ASSOCIATION.
APN: 5959-006
“
MH
//
HW
18
PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDw
6. For such other or further orders as the Court may deem proper.
Dated: 4 /. 7 LE.
Respectfully Submitted,
ows_| [| 18
\ite5 F. Bautista, Trustee [by fax]
SOLAN, PARK & ROBELLO
Richard R. Shu, AttorneyS¥or Trustee
Leo F. Bautista
19
PETITION FOR ORDER AUTHORIZING TRUS
SECURED BY Tt
‘O CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
UST PROPEI
'Y TO FINANCE THE REBUILD.VERIFICATION
1, Leo F. Bautista, am the Successor Trustee of the San Lee and Mui Chow Lee
Revocable Trust dated March 24, 1995, as amended, and am the petitioner herein. I have read the
foregoing PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE
REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE
TRUST PROPERTY TO FINANCE THE REBUILD and know its contents. The matters
stated therein are true of my own knowledge, save and except those matters stated on
information and believe and, as to those matters, 1 believe them to be true.
I declare under penalty of perjury under the laws of the State of California that the
foregoing is true and correct.
Th Ape
Executed this 7 __. day of January, 2018, al”
, California.
Leo F. Bautista
20
ETO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN
‘TRUST PROPERTY TO FINANCE THE REBUILD
PETITION FOR ORDER AUTHORIZING TR!
SECURED BY)134 Athens Street, San Francisco
San Francisco, CA 94112
Real Estate Broker Opinion of Value
The San Lee and Mui Chow Lee Revocable Trust
Prepared By: Tim Curran
Coldwell Banker Residential Brokerage
Date of Preparation: July 31, 2017
EXHIBITJuly 31, 2017
Leo F. Bautista, Fiduciary
Bautista, Bautista and Associates
P.O. Box # 12002
Berkeley, Ca 94712-5004
Re: Broker Price Opinion for 134 Athens Street, San Francisco
Dear Mr. Bautista:
Thank you for the opportunity to provide you with a projected Broker Price
Opinion for the property located at 134 Athens Street, San Francisco.
Based on sales information provided by the San Francisco Association of
Realtors Multiple Sales Service, and comparing the property, its location, its zoning,
and careful review of the architect's specifications, we have formed the opinion the
projected market value of the finished property at 134 Athens Street,
San Francisco would be $1,350,000.
Should you have the need for any further information, please do not hesitate to
call me.
Sincerely,
mn Cr
Timothy P. Curran
Coldwell Banker Res. Brokerage
Owned And Operated By NAT Incorporated134 Athens St, San Francisco, CA 94112-2102, San Francisco County
Owner Information
Owner Name:
Owner Name 2:
‘Tax Billing Address:
Location Information
School District:
Census Tract:
Carrier Route:
Tax information
Tax ID:
Block:
Lot:
Assessment & Tax
Assessment Year
Assessed Value - Total
Assessed Value - Land
Assessed Value - Improved
YOY Assessed Change (%)
YOY Assessed Change ($)
Tax Year
2014
2015
2016
Characteristics
Lot Area
Lot Acres:
Building Sq Ft:
Land Use ~ CoreLagic:
Land Use - County:
Year Built:
Stories:
Garage Type*
Last Market Sale & Sales
Recording Date:
Sale Price:
Owner Name:
Sale/Settlement Date 07/07/2010
Recording Date 07/23/2010
Sale Price
Nominal Y
Buyer Name
Seller Name
Document Number
Document Type,
K192-328
Grant Deed
Lee San & Mul C Trust
Lee San & Mul C Trust
Tax Billing City & State:
San Lee
Lee Mul Chow Tax Billing Zip:
Po Box 14004
San Francisco Subdivision:
260.02 Zoning:
cois
5959-006 % Improved:
5959 Tax Area:
6
2016 2015
$501,582 $494,049
$381,640 $375,908
$119,942 $118,141
1.52% 2%
$7,533 $9,677
Total Tax Change ($)
$6,028
$6,188 $162
$6,267 $79
2,495 Parking Type:
0.0573 Bedrooms:
750 Total Baths:
SFR Full Baths:
1 Dwelling Unit Total Rooms:
1950 Construction:
1 Total Units:
Built-In
History
03/12/1976 Owner Name 2:
$34,500 Deed Type:
San Lee Price Per Square Feet:
07/07/2010 07/25/2000
07/23/2010 07/31/2000 04/20/1995
Y Y
Chow Crystal H Lee Mul c Lee San
Lee Mul C Lee San
K192-327 6807155
Affidavit Affidavit Deed (Reg)
Berkeley, CA
94712
Excelsior Homestead Assn
RHL
1000
2014
$484,372
$368,545
$115,827
Change (%)
2.68%
1.27%
Built-In Garage
3
1
1
4
Wood
1
Lee Mui Chow
Deed (Reg)
$46.00
03/12/1976
$34,500
Deed (Reg)
Courtesy of Tim Curran, San Francisce Associatii
jon of Realtors
Property Detail
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TBR ET BOTOverview of Market Analysis
134 Athens Street, San Francisco
The following market information is based on a current market comparison of similar
properties in the immediate area. These facts and figures should allow us to make
reasonable conclusions. The most recent sales range of the neighborhood's properties lies
between $1,100,000 and $1,380,000.
Based on sales information provided by the San Francisco Association of Realtors
Multiple Sales Service, and comparing the property, its location, its zoning, and careful
review of the architect's specifications, we have formed the opinion the projected market
value of the finished property at 134 Athens Street,
San Francisco would be $1,350,000.
Please remember that the information contained herein reflects today’s market
condition. These conditions can change according to interest rates, available financing, and
the supply and demand of property in San Francisco's real estate market.
COMPARABLE 799 Athens Street Selling Price $ 1,105,000 21 Days
SALES: 790 Naples Street Selling Price $ 1,150,000 40 Days
801 Excelsior Ave. Selling Price $ 1,200,000 35 Days
78 Ney Street Selling Price $ 1,225,000 55 Days
401 Paris Street Selling Price $ 1,225,000 35 Days
437 Amazon Ave. Selling Price $ 1,380,000 40 Days
CURRENTLY 350 Madrid Street Asking Price $ 949,000 20 Days
ACTIVE: 611 Paris Street Asking Price $ 1,050,000 5 Days
37 Maynard Street Asking Price $ 1,095,000 40 Days
ANALYSIS: Properties in the neighborhood wili be on the market for a minimal
period of time. There is excellent competition among prospective
Buyers for well-positioned properties, frequently generating
multiple offers. This scenario allows Sellers to feel confident their
property has been favorably exposed to the real estate sales
market. The combination of Physical Condition and correct Asking
Price of the property continue to be the key traits of a successful
sale.
July 31, 20178/7, 408 PM
Single-Family Homes Agent Detail Report
Listings as of 08/01/17 at 4.06pm Page 3
[MLS#: 457595, Sold 799 Athens St San Francisco 94112 Excelsior $ 899,000)
- Single-Family Homes LD: 05/04/17 ‘OMD: 05/04/17 DIS: 10/C
Cross St: Italy Ave Map: CR5O
BIk/LOvAPN: 6338014 Zoning: RH-1
2 BD:3 BA:1 Pkg: 4 Parking Type: #Rms: 5
~Sq Ft: 1620 Per Tax Records SISF: 682.10 Year Bullt: 1953
HOA: HOA Dues: 0.00 Pad: Lot SqFt: 2,495
HOA Name: HOA Phone:
Builder/Architect: oi Protect
Directions:
Short Sale:No REO: No
jan:
Pand, Lit: Probate: No Court:
"Located on the comer of Athens and Italy.
Marketing Remarks:
Charming
pair, as den/family room or as
‘Excelsior home w/ 3 bedrooms with 2 bedrooms and 1 bath on the main level. 3rd bedroom down ideal for au
3td bedraom Living room and dining w/ refinished parquet hardwood floors and fireplace.
Eat in kitchen with new stainless steel appliances. Sun drenched rear yard. Huge main garage with room for 2+ cars plus
separate side by side garage
in separate structure with direct street access. Easy access to freeways and transportation
Agent Only Remarks:
Disclosure packages available Please email Mark for them at mark@anchorealtyinc.com. Offers to be considered by no
later than 12 noon on Wednesday May 17, 2017.
Show Call ListingAgent PossesClose of&scrow Park Detached Park Attached Park Garage
Park Auto Door Park interior Access Type Attached Style Contemporary Exter Wood Siding
Main 2 Bedrooms Main = 1 Bath Main — Living Room Main Kitchen Lower 1 Bedroom
Views San Francisco Dining tyngiDng Rm FoundnConcrete Perimeter FoundnPillars/Posts/Piers | FoundnConcrete Slab
ombo
FoundnCombination Cons Wood Frame Heat Central Heating Heat Gas Laund Washer/Dryer
Laund In Garage Misc Fenced Yard Floors Wall to Wail Carpet Floors Partial Hardwood = Floors Parquet
Floors Tile Floors Linoleum Fpics 1 Ba Typ Shower and Tub Lot Regular
Lot Corner Lot Level Drive Paved Driveway Discis Disclosure Pkg Avail Water Water-Public
Shop _4+ Blocks
Brokers Tour Date: Time: Lockbox Only: Price Reduction:
Remarks:
Open House Date: Time:
Remarks:
Open House Date: Time:
Remarks:
Dimensions: Living: Dining: Family: Kit: Master Bedroom:
Occupant: Vacant Rent: Type: Name: Phone:
List Office: Anchor Realty Phone: 415-621-2700, FAX: 415-621-0888. List Type: ER
List Agent: Mark A Campana Primary:415-621-2700 Secondary:415-205-4370 Fax: 415-621-0888 cso: 25%
Emall: mark@anchorealtyinc.com Internet: Y
Co-List Office: DualfVariable:No
Co-List Agent: ucec: 0.00
Email: DOM: 43
Pending Date: OS/17/17 Sold Date: 05/25/17 Sale Price: 1,105,000 DOM: 13
so: PARA Tim Johnson SA Phone: 415-710-8000
Co-SO; Co-SA Phone:
Terms: Cash
Selling Comments:
Presented By: Daniel Curran (Lic: 01959068) / Coldwell Banker Res. R.E. Svcs (Office Lic : 01908304)
Copynght 2017 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of
area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information
should be independently reviewed and verified for accuracy.
Copyright ©2017 Rapattoni Corporation. All rights reserved
U.S. Patent 6,910,045
Equal Opportunity Housing * All information deemed reliable, but not guaranteed.
hitp //starmls rapmis com/scrints/mgraispi dt
Page 3 of 128/1/17, 4:08 PM
Single-Family Homes Agent Detail Report
Listings as of 08/04/17 at 4.06pm eee Z Page 4
(Misa: 466118 Sold - 780 Naples St San Francisco 94112 Excelsior $899,000;
x aT Single-Family Homes LD: 03/15/17 OMD: 03/24/17 DIS: 10/C
Cross St: Italy Map: CQS50
BIWLOVAPN: 6341032 Zoning: RH-1
BD:3 BA:2 Pkg: 1 Parking Type: #Rms: 5
Sq Ft Not Available SISF: Year Bullt: 1918
HOA: HOA Dues: 0.00 Paid: Lot SqFt: 1,875
HOA Name: HOA Phone:
Builder/Architect: Hm Protect
Plan:
es ees 6: Short Sale:No REO: No Pend. Lit.: Probate: No. Court:
Directions: Geneva Avenue to Naples St.go to Italy
Marketing Remarks: ‘New 3 color exterior paint frames the eye catching front of the home. “The wrought iron security gate leads to a solid
vertical grain fur interior door. upon entry there is a door allowing entry to the garage that's equipped wit an electronic
door opener, there are washer dryer hookups. On the same level a completely new En Suite As we move up newly
carpeted stairs notice the period detail wainscoting on the stair wall. Now the main living area is in view, it consist of
2BR's 1BA.kitchen,living room, study work area. Ethernet in all Rms. Gas Range+ microwave, dishwasher, refrigerator,
quariz counter tops, solid cabinets, New plumbing, new wiring, new lights, new insulation, new dry wall, new paint. anda
beautiful new floor thru out.
Agent Only Remarks: Sellers will receive offers all day Wednesday April 5th until 8:00pm, good luck.
Energy StarHome Show Go Directly Show Supra iBox Show Leave Card PossesClose of Escrow
Park Attached Park Garage Park Auto Door Park Interior Access Style Victorian
Main 2 Bedrooms Main 1 Bath Main Living Room Main = Kitchen Lower 1 Master Suite
Kitehn Energy Star Appi(s) Kitchn Gas Range Kitchn Hood Over Range ‘Kitchn Built-in Oven Kitehn Self-Cleaning Oven
Kitchn Refrigerator Kftchn ice Maker Kitchn Freezer Kitchn Dishwasher Kitchn Microwave
Kitchn Island Kitchn Breakfast Area Kitchn Remodeled FoundnConcrete Cons Wood Frame
Roof Composition Roof Shingle Heat Central Heating Heat Gas Heat Hot Water
EnergyCeiling insulation EnergyWall Insulation EnergyWeather Stripped Energy Caulked/Sealed Energy Insulated Hot Wr Ht
EnergyLow-Flow Shower(s) EnergyLow-Flow Toilet(s) Laund Hookups Only Laund In Garage Mise Fenced Yard
Mise Double Pane Mise Window Screens Mise Storage Area(s) Misc Smoke Alarm(s) Misc Security Gate
Windows
Misc Cable TV Ba Typ Tile Ba TypShower Over Tub —_Ba Typ Stall Shower Ba Typ Remodeled
Lot Level Lot Fenced Drive Paved Driveway Drive Paved Sidewalks Discts Disclosure Pkg Ava'l
Discls Prelim Title Report Discls RE Transfer Disci Discls Seismic Hazard Disc! Discls Flood Hazard Discl Diseis Geological Report
Discls Env Hazards Report Discls Lead Hazard Disc! Water Water-Public Water Water Heater-Gas Water Sewer System-Public
Trans_1 Slock Shop 2 Blocks
Brokers Tour Date: Time: Lockbox Only: Price Reduction:
Remarks:
Open House Date: Time:
Remarks:
Open House Date: Time:
Remarks:
Dimensions: Living: Dining: Family: Kits Master Bedroom:
Occupant: Vacant Rent: Type: Name: Phone:
List Office S & W Real Estate Co. Phone: 415-370-9944, FAX: 415-929-0542 List Type: ER
List Agent: Samuel Williams Primary:415-370-9944 Secondary:415-370-9944 Fax: 445-929-0542 cso: 25
Email: sam@samuel-williams.com Internet: Y
Co-List Office: Dual/Variable:No
Co-List Agent: ucec: 0.00
Email: DOM: 413
Pending Date: 04/06/17 Sold Date: 05/03/17 Sale Price: 1,160,000 DOM: 13
so: VANGOS SA: Connie Chung SA Phone: 415-323-9000
Co-SO: VANGOG Co-SA: Kenny Gong Co-SA Phone: 415-279-2715
Terms: Fixed Conventional
Selling Comments: Great Job Connie and Kenny
Presented By: Daniel Curran (Lic: 01959068) / Coldwell Banker Res. R.E. Svcs (Office Lic: 01908304)
Copyright: 2017 by San Francisco Assoc of REALTORS - Ail data, including all measurements and calculations of
area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information
should be independently reviewed and verified for accuracy
Copyright ©2017 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Equal Opportunity Housing * All infotmation deemed reliable, but not guaranteed. :
hitpyistarmis capmis com/scriots/maraisai dit Page 4 of 128/1/17, 4:08 PM
Single-Family Homes Agent Detail Report
Listings as of 08/01/17 at 4 06pm Page §
MLS#: 455531 Sold 801 Excelsior Ave San Francisco 94112 Excelsior $1,049,001
& A es Single-Family Homes: LD: 03/29/17 OMD: 03/31/17 DIS: 10/6
at = Cross St: Athens Map: CR50
BIk/Lot/APN: 6005028 Zoning: RH-1
BD: 4 BA: 2 Pkg: 4 Parking Type: #Rms: 6
~Sq Ft: 1681 Per Tax Records SISF: 713.86 Year Built: 1957
HOA: No HOA Dues: 0.00 Paid: Lot SqFt: 1,663
HOA Name: HOA Phone:
Builder/Architect: Hm Protect
Plan:
Short Sale:No REO: No. Pend. Lit: Probate: No Court:
Directions:
House on corner of Excelsior and Athens
Marketing Remarks:
is weontemporary design! This home features 2 levels of artful
b light & expansive views. Upgrades to this fab 4 bedroom 2
perfect 4 entertaining & enjoying sweeping City views.
A MUST SEE! VIEWS! You CAN have it all!
Preview
ony a o 10 ul 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Sheila K. Robello (SBN 209300) Richard R. Shu (SBN 297074) Solan, Park & Robello 354 Pine Street, 5" Floor San Francisco, California 94104 Telephone: (415) 777-3300 Facsimile: (415) 777-3301 Attorneys for Petitioner Leo F. Bautista, Successor Trustee SUPERIOR COURT OF CALIFORNIA COUNTY OF SAN FRANCISCO In Re San Lee and Mui Chow Lee Revocable Trust dated March 24, 1995, as amended December 22, 2004 ELECTRONICALLY FILED Superior Court of Catifornia, County of San Francisco 01/18/2018 Clerk of the Court BY: AISHA NELSON Deputy Clerk Case No.: PTR-12-296124 [Signature by Facsimile] PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD Date: 2/08 1Y of te set SLA Time: 9:00A Dept.: 204 Petitioner Leo F, Bautista, Successor Trustee of the San Lee and Mui Chow Lee Revocable Trust dated March 24, 1995, as amended, respectfully alleges as follows: 1. Standing, Petitioner is the sole trustee of the San Lee and Mui Chow Lee Revocable Trust dated March 23, 1995, as amended, and thus has standing to bring this petition. 1 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD2. History of Proceedings. San Lee and Mui Chow Lee, husband and wife, executed the San Lee and Mui Chow Lee Revocable trust on March 24, 1995, The Trust was subsequently amended five times. The last amendment was executed on December 22, 2004. BE San Lee died on October 4, 1996. Mui Chow Lee died on November 25, 2009. 4. On December 13, 2013, by order of this Court, Petitioner was appointed successor trustee of the Trust. At all times since, Petitioner has been and is currently the successor trustee of the Trust. 5. At the time Petitioner was appointed as trustee, the only asset of the Trust was a parcel of real property located at 134 Athens Street, San Francisco, CA 94112. Two weeks after Petitioner was appointed, on December 31, 2012, the trust real property was destroyed in a fire. Over the last several years since the fire, Petitioner has been diligently working with the Court, the city, the insurer, an architect and numerous contractors to demolish what was left after the fire and to rebuild the property. 6. On August 27, 2014 this Court granted an order authorizing Petitioner to rebuild and sell the trust property located 134 Athens Street, San Francisco, CA 94112. The rebuild is still in progress but has been impeded by several lengthy delays from the City of San Francisco in approving the rebuild plans, addressing concerns and objections of neighbors, and obtaining building permits. On or after April 2017, the City approved the necessary permits to continue the rebuild. ae As of the end of the last account period, October 8, 2016, the trust estate consisted of the property located at 134 Athens Street, San Francisco 94112 and a checking and savings account at Bank of America totaling $45,901.68. 2 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDN nw 8. Now that the necessary permits for rebuild have been obtained, Petitioner requests authority to 1) rebuild the trust property located at 134 Athens Street, San Francisco, CA 94112 (hereafter also referred to as “Athens Street Property”), 2) hire Curran and Associates General Contractors, Inc., to complete the rebuild of the trust property located at 134 Athens Street, San Francisco, CA 94112, and 3) obtain a hard money loan to finance the remaining portions of the rebuild. 9. Request for Authority to Continue Rebuild of Trust Property Located at 134 Athens Street. The Court authorized Petitioner to rebuild the property by court order dated August 27, 2014. Petitioner wishes to advise the Court of the status of the rebuild and the prudence of completing the rebuild at this time. 10. In 2014, when Petitioner sought authority to rebuild the Athens Street property, the approximate expenses and receipts were detailed as follows: Insurance pay for rebuilt house $242,500.00 Approximate Sale Price $738,000.00 Costs of Sale (6%) $(47,000.00) Costs to Rebuild $448,825.00 Net to Trust $484,675.00 11. Since 2014, the San Francisco real property has appreciated significantly and the landscape of the housing market and renovations has shifted. Petitioner would like to advise the Court on the new circumstances and the projected outcome of the options at this juncture. Petitioner currently has two options: 1) sell the property in its current unimproved condition, or 2) complete the rebuild and sell the property. Option 1: Sale of Property in Current Unimproved Condition 12. The first option would be to sell the lot in its current condition with the plans to rebuild, but not perform the rebuild. The previous building structure has been demolished, the 3 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDarchitectural plans have been drawn, the permits have been obtained, and the property is ready to be rebuilt. Although a vacant residential lot is much less valuable than a single family residence, due to San Francisco’s strong housing and real estate market, vacant residential lots still have significant value. Petitioner’s realtor, Tim Curran, has provided an opinion that the projected market value of the vacant lot at 134 Athens Street, would be $300,000.00. 13. Petitioner has also obtained several comparable sales from his realtor and the public record to support this valuation. There have not been many comparable sales within the last year, but the information that was available and relevant is reflected in the chart below. Vacant Lot Comparable Address Type Size (Sq. | Sales Sale Price Notes Ft) Date 134 Athens Street Lot 1,873 N/A N/A Excelsior SF, CA 94112 Neighborhood; (Subject Property) Plans included 154 Delta Street Lot 2,500 7/26/2017 | $295,000.00 | Two parcels sold SF, CA 94134 together 152 Delta and 154 Delta; 2,500 square foot for both parcels; Visitacion Valley Neighborhood; No | plans included 907 Innes Ave Lot 2,500 7/5/2017 $275,000.00 | Hunter’s Point SF, CA 94124 Neighborhood; No plans included 85 Mansfield Street | Lot 2,375 12/6/2016 | $475,000.00 | Excelsior, No SF, CA 94112 plans 650 Peru Ave Lot 1,899 3/17/2017 | $307,000.00 | Excelsior; No SF, CA 94112 and (Parcel 1 plans; Two parcels 6/13/2017 | sold for marketed together, $95,000, but sold Parcel 2 sold | separately; 1,899 for square foot for $212,000) both parcels. 4 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDCm ND KH BF 14. The lack of data and small sample size makes it difficult to accurately project the value of the Athens Street property. Based on the available data from comparable sales in the last year, the data seems to indicate that the property at 134 Athens Street, sold in its current condition with architectural plans for a rebuild, supports a fair market value of $300,000.00. 15. Between May 24, 2017 and August 23, 2017, the average home price in Excelsior where the subject property is located, was $992,500.00 based on 22 home sales (Per Trulia, https://www.trulia.com/real_estate/Excelsior-San_Francisco/ 1406/market-trends/). The average price per square foot for Excelsior was $737.00 (Per Trulia, https://www.trulia.com/real_estate/ Visitacion_Valley-San_Francisco/1472). The median sales price for homes in Visitacion Valley for the same period, based on 10 home sales, was $878,000.00 and the average price per square foot was $736.00. The average home price in Hunters Point was $633,000.00 and an average price per square foot of $459.00 (Per Trulia, https://www.trulia.com/real_estate/ Hunters_Point- San_Francisco/1418/market-trends). This indicates that property in Excelsior, in general, is more valuable than property in Visitacion Valley, which in turn is more valuable than property in Hunters Point. Thus, despite having larger lot sizes, the comparables in Visitacion Valley and Hunters Point are not necessarily worth more than the smaller Athens Street property. 16. The closest comparable is likely to be 650 Peru Ave, San Francisco, CA 941 12. The property is almost the exact same size (1899 square foot vs. 1873 square foot), sold within the last 6-8 months, and is located on the same block (443 feet away, per Google Maps) from the Athens Street property. The property at 650 Peru Avenue is made up of two parcels APN Block 5960 Lot 027 (hereafter Parcel 1) and APN Block 5960-026 (hereafter Parcel 2) and has a combined lot size of 1,899. According to public record, Parcel 1 sold for $95,000.00 in March 5 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD2017 and Parcel 2 sold for $212,000.00 in June 2017. Petitioner was unable to find additional information regarding the lot sizes of each of the individual parcels. 17. In total both parcels associated with 650 Peru Avenue sold for $307,000.00, which translates to $161.00 per square foot. At the same price per square foot, the Athens Street property would be valued at $301,553.00. Additionally, the Athens Street property has architectural plans that have been approved for building by the city of San Francisco, which is an added value to the property. Thus, $300,000.00 is a reasonable approximation of the value of the Athens Street property. 18. If the Athens Street property is sold in its current condition for $300,000.00, the net proceeds payable to the trust would be approximately $147,876.23 calculated as follows: Approximate Sale Price of Athens Street Property, $300,000.00 in current condition (vacant residential lot) Estimated Realtor’s Commission at 10%* ($30,000.00) Estimated Closing Costs of Sale (1%) ($3,000.00) Alex Korn’s Unpaid Base Fees (70% of ($18,585.00) $26,550.00) Alex Korn’s Contract Commission Fees (9% of $0.00 sales price over $500K (unpaid)) Alex Korn’s additional hourly fees to-date ($44,542.40) Trustee Fees authorized by court order from 2nd ($20,641.25) Report and Account (not including interest) Attorney’s Fees authorized by court order from ($12,422.12) 2nd Report and Account (not including interest) Estimated additional trustee’s fees ($10,933.00) Estimated additional attorneys’ fees and costs ($12,000.00) Estimated capital gains tax $0.00 Total: $147,876.23 *10% commission based on local rule 14.57(b), for unimproved property 19. For each additional $1,000.00 increase in the sales price, it is estimated that the trust would receive approximately an additional $890.00. 6 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD.Option 2: Rebuild and Sale of Property 20. The second option would be to complete the rebuild and then sell the Athens Street property. As mentioned above, the architectural plans have been drawn, the permits have been obtained, and the final step remaining is to complete construction of the rebuild. Petitioner has been informed by several contractors that the rebuild construction would be completed in approximately nine months. 21, Once rebuilt, the house would be marketed for sale on the MLS, Petitioner has received a broker’s opinion of the rebuilt property. The broker’s opinion projects the fair market value of the property to be $1,350,000.00, and is attached as Exhibit A and incorporated by reference for all purposes. Despite a projected fair market value of $1,350,000.00 based on the comparable sales, Petitioner has been informed by the realtor that a realistic sales price for the property should be estimated more conservatively at $1,200,000.00. This is due in part to the uncertainty of the estimated market conditions in 2018 when the rebuild is projected to be completed. In the realtor’s experience and knowledge of the neighborhood and nearby properties, he estimates that the sales prices may be closer to $1,200,000.00. As such, the projected net proceeds are based on a lower and more conservative $1,200,000.00 sales price. After the sale and payment of expenses, the trust would net approximately $157,613.87, calculated as follows: Approximate Sale Price of rebuilt Athens Street $1,200,000.00 Property Estimated Realtor’s Commission at 5%* ($60,000.00) Estimated Closing Costs of Sale ($12,000.00) Alex Korn’s Unpaid Base Fees (70% of ($18,585.00) $26,550.00) ‘Alex Korn’s Contract Commission Fees (9% of ($63,000.00) sales price over $500K) Alex Korn’s additional hourly fees to-date ($44,542.40) Alex Korn’s estimated hourly fees to complete ($16,000.00) Trustee Fees authorized by court order from 2nd ($20,641.25) Report and Account (not including interest) 7 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDoC mM IN OD HW Bw NY Attorney’s Fees authorized by court order from ($12,422.12) 2nd Report and Account (not including interest) Contractor’s Bid (plus 10% overage) ($681,000.00) Cost of Loan (commission, closing costs, etc.) ($20,000.00) 12 months of interest payments on loan (nine ($71,262.36) months for rebuild and three months to sell) Estimated additional trustee’s fees ($10,933.00) Estimated additional attorneys’ fees and costs ($12,000.00) Estimated capital gains tax from sale of ($0.00) property** Total: $157,613.87 *5% commission based on local rule 14.57(a) for improved property. **based on projected architect and construction fees the trust accountant Donelda Bernard has estimated the sale of the property to generate a loss for capital gains purposes. 22. Petitioner has also negotiated with the architect to reduce the architect fees in order to preserve more of the trust estate. The architect Mr. Korn has agreed to forego currently unpaid hourly fees incurred, under the contract, between August 29, 2014 through November 22, 2017 in the amount of $44,542.40, provided that the Athens Street property is rebuilt per plan, the property is sold, and Alex Korn, and his architecture firm Catamount Designs, receives 9% of any excess in sales price over $500,000.00, pursuant to paragraph 11.2.1 of the contract. If the Athens Street property is not built and is instead sold as a vacant lot, Alex Korn and Catamount Design have expressed that they will seek full remuneration under sections 11.2 and 11.5 of the contract, meaning that they will seek immediate payment of the remaining $18,585.00 in unpaid base fees, and $44,542.40 in unpaid hourly fees for services incurred between August 29, 2014 through November 22, 2017, pursuant to section 1 1.5.2 of the contract. Per the contract, this remuneration is due five days from the date of Catamount Design’s invoice of these amounts. Mr. Korn’s letter and time sheets in support of this arrangement, and his fees are attached hereto 8 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDas Exhibit B. By waiving $44,542.40 in hourly fees, the trust would net approximately $202,156.27 less any additional capital gains taxes, calculated as follows: Approximate Sale Price of rebuilt Athens Street $1,200,000.00 Property Estimated Realtor’s Commission at 5%* ($60,000.00) Estimated Closing Costs of Sale ($12,000.00) Alex Korn’s Unpaid Base Fees (70% of ($18,585.00) $26,550.00) Alex Korn’s Contract Commission Fees (9% of ($63,000.00) sales price over $500K) Alex Korn’s additional hourly fees to-date ($0.00) Alex Korn’s estimated hourly fees to complete ($16,000.00) Trustee Fees authorized by court order from 2nd ($20,641.25) Report and Account (not including interest) Attorney’s Fees authorized by court order from ($12,422.12) 2nd Report and Account _(not including interest) Contractor’s Bid (plus 10% overage) ($681,000.00) Cost of Loan (commission, closing costs, etc.) ($20,000.00) 12 months of interest payments on loan (nine ($71,262.36) months for rebuild and three months to sell) Estimated additional trustee’s fees ($10,933.00) Estimated additional attorneys’ fees and costs ($12,000.00) Estimated capital gains tax from sale of property ($0.00) Total: $202,156.27 *5% commission based on local rule 14.57(a) for improved property. **based on projected architect and construction fees the trust accountant Donelda Bernard has estimated the sale of the property to generate a loss for capital gains purposes. 23. The hourly architect fees will total approximately $16,000 to complete the project based on the following calculation provided by Alex Korn: “For a normal job I would expect to do at least one site visit a week and expect 1-2 phone calls a day from the contractor for a minimum of about 3 hours a week. If we assume a 9 month construction period that would be 3 hours (time spent per week avg) * 4 weeks/mo *9 months (length of Construction * $140/hr (hourly rate) =$15,120.” 9 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD24. Based on a comparison of the net proceeds resulting from Option 1 and Option 2, Petitioner believes that Option 2 would be more beneficial. Thus, Petitioner requests authority to complete the rebuild of 134 Athens Street, San Francisco, CA 94112. 25. Contractor to Complete the Rebuild. Petitioner provides the following information regarding the contractor bid used in the calculation above for the rebuild of the Athens Street property. Since receiving the issued permits, Petitioner has contacted ten (10) different contractors throughout the Bay Area, including contractors in San Francisco, Daly City, Hayward and Castro Valley. Petitioner contacted most, if not all, of the contractors each at least three separate times. However, due to the renovation boom throughout San Francisco and the Bay Area, contractors have not had the time or interest in submitting written bids. 26. Out of the ten contractors contacted, Petitioner received four bids to complete the rebuild, including two verbal bids and two written bids. The first written bid was from Low’s Construction, 90 Lucott Street, Hayward, CA 94541. Luis Low’s initial written bid was for $673,176.00. The estimated time of completion for the rebuild by Luis Low was eight (8) months. Luis Low also informed Petitioner that the cost to rebuild the sidewalk would be an additional $25,000.00 to $30,000.00, additional building costs, permits, utilities, and inspection fees bring the total amount needed to complete the rebuild to a total of $703,176.00. Exhibit C shows an itemized explanation of the additional costs. On 9/1/2017, while preparing this petition, Petitioner received notice from Luis Low that he had withdrawn his bid. The renovation boom in the San Francisco and Bay Area, has led to a lack of contractors qualified and willing to take on these renovations. 27. The second written bid was submitted by Curran & Associates General Contractors, Inc., (“Curran and Associates”) 90 Lagunitas Drive, San Francisco, CA 94132. The 10 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDCoO Om ND HW BF WN Mw oN YN NN NY ee ee ee BueRRR EBS FSF Cae AAA EH = bid from Curran and Associates of $618,949.55 is attached as Exhibit D. This bid includes the cost of rebuilding the side walk in front of the property. Curran and Associates estimated the completion time for the project to be 36 weeks, or about 9 months. 28. As for the two verbal bids, the first verbal bid was by CBW Construction, 1618 Sullivan Ave #377, Daly City, CA 94015. Ben Wong from CBW Construction provided an estimate of about $400 per square foot of the project, or approximately $800,000.00. The second verbal bid that was received, was for $850,000.00 and was provided by Mark Edwards of GMI Construction, 4061 E Castro Valley Blvd, Suite 476, Castro Valley, CA 94552. Petitioner has summarized his efforts to contact contractors and obtain bids in the chart in Exhibit E, attached hereto and incorporated by reference for all purposes. 29. All of the bids, except for the one submitted by Curran and Associates, were obtained based on a permit set that had been approved by the City of San Francisco for the site permit, architectural permit, and structural permits. After approval by the City of San Francisco, the permits had to be approved by the Department of Public Works (DPW). The DPW reviewed the permits and approved them, but also added a requirement that the sidewalk in front of 134 Athens Street, San Francisco, CA 94112, be replaced and rebuilt. Thus, except for the Curran and Associates bid, the bids do not include the cost to fix and rebuild the sidewalk in front of the Athens Street Property, unless otherwise stated. 30. Architect’s Fees, The original contract agreement with the architect Alex Korn included a $26,550.00 base fee for the architectural work which included: schematic design, design development, construction documents, bidding or negotiation, and construction. Due to the budget constraints of the trust funds at the time of entering the contract, Petitioner and Alex Korn agreed to delay the payment of 70% of his base fee until the completion of the project and i PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDsale of the property. In exchange for the deferred payment, Alex Korn would receive a 9% commission of any part the sales price that exceeded $500,000.00. At the time the property was projected to sell for $600,000.00 upon rebuild. 31, Over the first and second account periods, payments form the trust were made to Alex Korn for a total of $31,767.18. In the first account period the payments totaled $12,003.75 and in the second account period the payments totaled $19,763.43, The payments were comprised of Alex Korn’s architect fees and reimbursements for obtaining permits. Of the $31,767.18 that was paid to Alex Korn, $16,276.25 was payment of architect fees. The remaining payments of $15,490.93 were reimbursements to Alex Korn for obtaining building permits. Since the end of the second account period the trust has made additional payments to Alex Korn. To date, Alex Korn has been paid $19,091.00 in architect fees. 32. The $19,091.00 is comprised of an initial 30% of the agreed upon $26,550.00 base fee from original contract, which comes out to $7,965.00, and for services provided outside the scope of the original contract, which total $11,126.00. The out of scope services include preparing for and attending a city planning hearing, demolition permit work, drawing set for demolition, consultation fees, demolition bids and site visits, preparation of letters to the property insurance company, and preparation of reports for the Athens Street Property. 33. Additionally, the contract’s base fee of $26,550.00 covered 20 hours of contract administration fees. Contract administration fees include services for the management and observation of the construction work. The contract states that services completed after 12 months from the execution of the contract would be billed on an hourly basis at $140 an hour, The contract was executed over 4 years ago and, from the one-year mark in 2014 through November 12 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD2017, Alex Korn has incurred 318.16 hours work. Alex Korn’s time sheets through November of 2017 for are attached as Exhibit B. 34, Under the contract, Alex Korn believes that he is entitled to the remaining 70% of his base fee being $18,585.00, plus a 9% of any part of the sales price that exceeds $500,000.00 (estimated to be $63,000.00 based on a sales price of $1,200,000.00), and $44,542.40 for out of scope work and services provided after the first year of the contract. However, after negotiations with Petitioner, Mr. Korn has agreed to forego $44,542.40 in out of scope hourly fees. Therefore, in addition to the $19,091.00 already paid to Alex Korn, the estimated total remaining fees due to Mr. Korn is $78,585.00 (based on a sale price of $1,200,000.00) being $18,585.00 for 70% of the remaining base fee and $63,000.00 as a result of the 9% commission. 35. Proposed Action. Petitioner believes that accepting the bid from Curran and Associates is the prudent decision, because it is the only complete bid and the final cost is projected to be lower than all of the other bids Petitioner has received. Furthermore, in Petitioner’s experience, the $618,949.55 bid is reasonable for the work needed to complete the rebuild. Thus, Petitioner seeks authority to retain Curran & Associates to complete the rebuild of the trust property located at 134 Athens Street, San Francisco, CA 94112. 36. Contingency Request, Petitioner further requests that he be given the authority to pay the contractor up to 10% more than the current bid of $618,949.55, in the event that additional work is need to complete the rebuild of the Athens Street property. While Petitioner does not anticipate the need for a contingency payment, having the authority now will preclude the need to file another petition, if the situation should arise. Petitioner requests authority to pay the contractor a total of up to $681,000.00 (rounded up from $680,844.51), which includes the 13 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDcost of the original bid plus 10%, to complete the rebuild of 134 Athens Street, San Francisco, CA 94112. 37. Financing the Rebuild. As of the end of the last account period ending October 8, 2016, the trust estate had $45,901.68 in cash assets. As of October 6, 2017, the trust assets totaled $23,607.24. The majority of these funds will be needed to cover the final stages of rebuilding the property and preparation for its sale, but the funds will not be sufficient to cover the estimated $681,000.00 needed to complete the rebuild with Curran and Associates. 38. Moreover, the trust lacks sufficient cash flow to make payments for the construction services. The lack of cash flow has created the need for liens to be placed on the Athens Street Property in order to ensure that Petitioner, Petitioner’s counsel and Alex Korn, the architect assisting with the rebuild of 134 Athens Street will eventually receive payment for their services, These liens will be paid from the proceeds of the sale of the Athens Street Property. The following are the outstanding liens against the property: A. By Court order dated May 13, 2015, Petitioner was authorized to record a lien against the property located at 134 Athens Street, San Francisco in the amount of $9,531.25, By court order dated May 2, 2017, Petitioner was authorized to place a lien against the property located at 134 Athens Street, San Francisco in the amount of $11,110.00. The total amount of the liens for Petitioner’s trustee’s fees totals $20,641.25, not including any accrued interest. B. By Court order dated May 13, 2015, Petitioner’s counsel Solan, Park & Robello, was authorized to place a lien on the property located at 134 Athens Street, San Francisco, in the amount of $7,538.00. By court order dated May 2, 2017, Petitioner’s counsel was authorized to place a lien against the property located at 14 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDCem IN DW 39. 134 Athens Street, San Francisco in the amount of $4,884.13. Petitioner’s counsel's liens against the Athens Street Property total $12,422.13, not including any accrued interest. . Additionally, on August 27, 2014 the Court authorized the rebuild of 134 Athens Street, San Francisco, CA 94112, with improvements to the original structure. This rebuild was authorized with the understanding that the architect Alex Korn receive a base amount of $26,550.00 for his services and plus 9% of difference between the sales prices and $500,000.00 if the Athens Street Property sold for over $500,000.00. A broker opinion prepared by Tim Curran of Coldwell Banker Residential Brokerage projects the Athens Street Property to sell at around $1,300,000. These liens and liabilities will all be paid from the sale proceeds. Since the trust does not have any sufficient liquid assets or cash flow, Petitioner has sought to obtain a loan through a hard money lender in order to finance the rebuild and prepare the property for sale. Petitioner has spoken with Jonathan Brooks of First Probate, a California Corporation and hard money lender, regarding a loan that will be secured on the Athens Street Property, in first priority against the trust’s 100% interest in the property. The proposed terms of the loan are as follows: a. Principal loan not to exceed $700,000.00; b. Rate not to exceed 9.99%; c. Monthly payment not to exceed $5,938.53; d. Term not to exceed 60 months; and e. Closing costs estimated to be $20,000.00 (loan commission of $15,000, estimated title, escrow and processing fees of $5,000.00). 1S PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD40. The trust document also authorizes the trustee to obtain a loan and to encumber trust property. Section 7.7(j) of the trust allows the trustee to “Borrow money for any trust purpose from any person or entity, including one acting as trustee hereunder, on such terms and conditions as the trustee deems advisable, and obligate the trust for repayment; encumber any trust property by mortgage, deed of trust, pledge, or otherwise , whether for terms within or extending beyond the term of the trust, as trustee deems advisable, to secure repayment of any such loan; replace, renew, and extend any such loan encumbrance; and pay loans or other obligations of the trust deemed advisable by the trustee.” 41. — Thus, Petitioner requests that the Court grant him authority under Probate Code section 17200 et seq. and under the terms of the Trust to obtain a loan in the amount of $681,000.00 from First Probate, with the following terms, in order to meet finance the rebuild of the Athens Street Property: a. Rate not to exceed 9.99%; b. Monthly payment not to exceed $5,938.53; c. Term not to exceed 60 months; and d. Closing costs estimated to be $20,000.00 (loan commission of $15,000, estimated title, escrow and processing fees of $5,000.00). 42. Petitioner also requests that First Probate be authorized to secure the loan with a lien in first priority against the property located at 134 Athens Street, San Francisco, CA 94112, more particularly described as: COMMENCING at a point on the northwesterly line of Athens Street, distant thereon 200 feet southwesterly from the southwesterly line of Peru Street; running thence southwesterly along said line of Athens Street 25 feet; thence at a right angle northwesterly 100 feet; thence at a right angle northeasterly 25 feet; and thence at a right angle southwesterly 100 feet to the point of commencement. BEING part of Block 67, EXCELSIOR HOMESTEAD ASSOCIATION. APN: 5959-006 16 E TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN TRUST PROPERTY TO FINANCE THE REBUILD PETITION FOR ORDER AUTHORIZING TRUS1 SECURED BY TH43. No Affiliate Relation. During the period of the account, there was no relationship or affiliation between Petitioner and any agent hired by Petitioner during the accounting. 44, Trust Beneficiaries. The names, ages and addresses of the beneficiaries of the Trust as known to the Petitioner are: Brian Leland Chow Adult 25 Essex St. #609 San Francisco, CA 94105 Fiona Chow Adult 9961 Waxberry Court Las Vegas, NV 89178 Justin Chow Adult 9961 Waxberry Court Las Vegas, NV 89178 Crystal Chow Adult 125 Olmstead Street, San Francisco, CA 94134 Jeannette Lau St. Onge Adult 1893 Sweetwood Drive Daly City, CA 94015 45. Request for Special Notice. No request for special notice has been filed. Notice of this hearing will be provided as required by law. WHEREFORE, Petitioner prays for an Order of this Court that: 1, That no further notice of this petition be required; 2. Authorizing and directing Leo F. Bautista, as successor trustee of the San Lee and Mui Chow Lee Revocable Trust dated March 24, 1995 as amended, to hire Curran & Associates General Contractors, Inc. to complete the rebuild of the trust property located at 134 Athens Street, San Francisco, CA 94112, at an approximate cost of $618,949.55; 3. Authorizing and directing Leo F. Bautista, as successor trustee of the San Lee and Mui Chow Lee Revocable Trust dated March 24, 1995, as amended, to pay Curran & Associates 17 = TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN TRUST PROPERTY TO FINANCE THE REBUILD PETITION FOR ORDER AUTHORIZING TRUS SECURED BY THGeneral Contractors, Inc., up to $681,000.00, to include a 10% overage of the approved bid of $618,949.55, without court order, for additional work needed to complete the rebuild; 4. Authorizing and directing Leo F. Bautista, as successor trustee of the San Lee and Mui Chow Lee Revocable Trust dated March 24, 1995 as amended, to obtain a loan in the amount of $681,000.00 from First Probate. The terms of the loan are as follows: a. Rate not to exceed 9.99%; b. Monthly payment not to exceed $5,938.53; c. Term not to exceed 60 months; and d. Closing costs estimated to be $20,000.00 (loan commission of $15,000, estimated title, escrow and processing fees of $5,000.00). 5. Authorizing First Probate to place a lien on trust real property located at 134 Athens Street, San Francisco, California, for the loan amount of $681,000.00. The trust property located at 134 Athens Street, San Francisco, California is more particularly described as: COMMENCING at a point on the northwesterly line of Athens Street, distant thereon 200 feet southwesterly from the southwesterly line of Peru Street; running thence southwesterly along said line of Athens Street 25 feet; thence at a right angle northwesterly 100 feet; thence at a right angle northeasterly 25 feet; and thence at a right angle southwesterly 100 feet to the point of commencement, BEING part of Block 67, EXCELSIOR HOMESTEAD ASSOCIATION. APN: 5959-006 “ MH // HW 18 PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILDw 6. For such other or further orders as the Court may deem proper. Dated: 4 /. 7 LE. Respectfully Submitted, ows_| [| 18 \ite5 F. Bautista, Trustee [by fax] SOLAN, PARK & ROBELLO Richard R. Shu, AttorneyS¥or Trustee Leo F. Bautista 19 PETITION FOR ORDER AUTHORIZING TRUS SECURED BY Tt ‘O CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN UST PROPEI 'Y TO FINANCE THE REBUILD.VERIFICATION 1, Leo F. Bautista, am the Successor Trustee of the San Lee and Mui Chow Lee Revocable Trust dated March 24, 1995, as amended, and am the petitioner herein. I have read the foregoing PETITION FOR ORDER AUTHORIZING TRUSTEE TO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN SECURED BY THE TRUST PROPERTY TO FINANCE THE REBUILD and know its contents. The matters stated therein are true of my own knowledge, save and except those matters stated on information and believe and, as to those matters, 1 believe them to be true. I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct. Th Ape Executed this 7 __. day of January, 2018, al” , California. Leo F. Bautista 20 ETO CONTINUE REBUILD OF TRUST PROPERTY AND TO OBTAIN A LOAN ‘TRUST PROPERTY TO FINANCE THE REBUILD PETITION FOR ORDER AUTHORIZING TR! SECURED BY)134 Athens Street, San Francisco San Francisco, CA 94112 Real Estate Broker Opinion of Value The San Lee and Mui Chow Lee Revocable Trust Prepared By: Tim Curran Coldwell Banker Residential Brokerage Date of Preparation: July 31, 2017 EXHIBITJuly 31, 2017 Leo F. Bautista, Fiduciary Bautista, Bautista and Associates P.O. Box # 12002 Berkeley, Ca 94712-5004 Re: Broker Price Opinion for 134 Athens Street, San Francisco Dear Mr. Bautista: Thank you for the opportunity to provide you with a projected Broker Price Opinion for the property located at 134 Athens Street, San Francisco. Based on sales information provided by the San Francisco Association of Realtors Multiple Sales Service, and comparing the property, its location, its zoning, and careful review of the architect's specifications, we have formed the opinion the projected market value of the finished property at 134 Athens Street, San Francisco would be $1,350,000. Should you have the need for any further information, please do not hesitate to call me. Sincerely, mn Cr Timothy P. Curran Coldwell Banker Res. Brokerage Owned And Operated By NAT Incorporated134 Athens St, San Francisco, CA 94112-2102, San Francisco County Owner Information Owner Name: Owner Name 2: ‘Tax Billing Address: Location Information School District: Census Tract: Carrier Route: Tax information Tax ID: Block: Lot: Assessment & Tax Assessment Year Assessed Value - Total Assessed Value - Land Assessed Value - Improved YOY Assessed Change (%) YOY Assessed Change ($) Tax Year 2014 2015 2016 Characteristics Lot Area Lot Acres: Building Sq Ft: Land Use ~ CoreLagic: Land Use - County: Year Built: Stories: Garage Type* Last Market Sale & Sales Recording Date: Sale Price: Owner Name: Sale/Settlement Date 07/07/2010 Recording Date 07/23/2010 Sale Price Nominal Y Buyer Name Seller Name Document Number Document Type, K192-328 Grant Deed Lee San & Mul C Trust Lee San & Mul C Trust Tax Billing City & State: San Lee Lee Mul Chow Tax Billing Zip: Po Box 14004 San Francisco Subdivision: 260.02 Zoning: cois 5959-006 % Improved: 5959 Tax Area: 6 2016 2015 $501,582 $494,049 $381,640 $375,908 $119,942 $118,141 1.52% 2% $7,533 $9,677 Total Tax Change ($) $6,028 $6,188 $162 $6,267 $79 2,495 Parking Type: 0.0573 Bedrooms: 750 Total Baths: SFR Full Baths: 1 Dwelling Unit Total Rooms: 1950 Construction: 1 Total Units: Built-In History 03/12/1976 Owner Name 2: $34,500 Deed Type: San Lee Price Per Square Feet: 07/07/2010 07/25/2000 07/23/2010 07/31/2000 04/20/1995 Y Y Chow Crystal H Lee Mul c Lee San Lee Mul C Lee San K192-327 6807155 Affidavit Affidavit Deed (Reg) Berkeley, CA 94712 Excelsior Homestead Assn RHL 1000 2014 $484,372 $368,545 $115,827 Change (%) 2.68% 1.27% Built-In Garage 3 1 1 4 Wood 1 Lee Mui Chow Deed (Reg) $46.00 03/12/1976 $34,500 Deed (Reg) Courtesy of Tim Curran, San Francisce Associatii jon of Realtors Property Detail enerated on 08/01/2012 oge taf 1x PUBLIC WAL foo’ /s Ts 7 ATHENS Jooiy & i 8 x AVALON PERU vo 7) pt | Lae By ms TBR ET BOTOverview of Market Analysis 134 Athens Street, San Francisco The following market information is based on a current market comparison of similar properties in the immediate area. These facts and figures should allow us to make reasonable conclusions. The most recent sales range of the neighborhood's properties lies between $1,100,000 and $1,380,000. Based on sales information provided by the San Francisco Association of Realtors Multiple Sales Service, and comparing the property, its location, its zoning, and careful review of the architect's specifications, we have formed the opinion the projected market value of the finished property at 134 Athens Street, San Francisco would be $1,350,000. Please remember that the information contained herein reflects today’s market condition. These conditions can change according to interest rates, available financing, and the supply and demand of property in San Francisco's real estate market. COMPARABLE 799 Athens Street Selling Price $ 1,105,000 21 Days SALES: 790 Naples Street Selling Price $ 1,150,000 40 Days 801 Excelsior Ave. Selling Price $ 1,200,000 35 Days 78 Ney Street Selling Price $ 1,225,000 55 Days 401 Paris Street Selling Price $ 1,225,000 35 Days 437 Amazon Ave. Selling Price $ 1,380,000 40 Days CURRENTLY 350 Madrid Street Asking Price $ 949,000 20 Days ACTIVE: 611 Paris Street Asking Price $ 1,050,000 5 Days 37 Maynard Street Asking Price $ 1,095,000 40 Days ANALYSIS: Properties in the neighborhood wili be on the market for a minimal period of time. There is excellent competition among prospective Buyers for well-positioned properties, frequently generating multiple offers. This scenario allows Sellers to feel confident their property has been favorably exposed to the real estate sales market. The combination of Physical Condition and correct Asking Price of the property continue to be the key traits of a successful sale. July 31, 20178/7, 408 PM Single-Family Homes Agent Detail Report Listings as of 08/01/17 at 4.06pm Page 3 [MLS#: 457595, Sold 799 Athens St San Francisco 94112 Excelsior $ 899,000) - Single-Family Homes LD: 05/04/17 ‘OMD: 05/04/17 DIS: 10/C Cross St: Italy Ave Map: CR5O BIk/LOvAPN: 6338014 Zoning: RH-1 2 BD:3 BA:1 Pkg: 4 Parking Type: #Rms: 5 ~Sq Ft: 1620 Per Tax Records SISF: 682.10 Year Bullt: 1953 HOA: HOA Dues: 0.00 Pad: Lot SqFt: 2,495 HOA Name: HOA Phone: Builder/Architect: oi Protect Directions: Short Sale:No REO: No jan: Pand, Lit: Probate: No Court: "Located on the comer of Athens and Italy. Marketing Remarks: Charming pair, as den/family room or as ‘Excelsior home w/ 3 bedrooms with 2 bedrooms and 1 bath on the main level. 3rd bedroom down ideal for au 3td bedraom Living room and dining w/ refinished parquet hardwood floors and fireplace. Eat in kitchen with new stainless steel appliances. Sun drenched rear yard. Huge main garage with room for 2+ cars plus separate side by side garage in separate structure with direct street access. Easy access to freeways and transportation Agent Only Remarks: Disclosure packages available Please email Mark for them at mark@anchorealtyinc.com. Offers to be considered by no later than 12 noon on Wednesday May 17, 2017. Show Call ListingAgent PossesClose of&scrow Park Detached Park Attached Park Garage Park Auto Door Park interior Access Type Attached Style Contemporary Exter Wood Siding Main 2 Bedrooms Main = 1 Bath Main — Living Room Main Kitchen Lower 1 Bedroom Views San Francisco Dining tyngiDng Rm FoundnConcrete Perimeter FoundnPillars/Posts/Piers | FoundnConcrete Slab ombo FoundnCombination Cons Wood Frame Heat Central Heating Heat Gas Laund Washer/Dryer Laund In Garage Misc Fenced Yard Floors Wall to Wail Carpet Floors Partial Hardwood = Floors Parquet Floors Tile Floors Linoleum Fpics 1 Ba Typ Shower and Tub Lot Regular Lot Corner Lot Level Drive Paved Driveway Discis Disclosure Pkg Avail Water Water-Public Shop _4+ Blocks Brokers Tour Date: Time: Lockbox Only: Price Reduction: Remarks: Open House Date: Time: Remarks: Open House Date: Time: Remarks: Dimensions: Living: Dining: Family: Kit: Master Bedroom: Occupant: Vacant Rent: Type: Name: Phone: List Office: Anchor Realty Phone: 415-621-2700, FAX: 415-621-0888. List Type: ER List Agent: Mark A Campana Primary:415-621-2700 Secondary:415-205-4370 Fax: 415-621-0888 cso: 25% Emall: mark@anchorealtyinc.com Internet: Y Co-List Office: DualfVariable:No Co-List Agent: ucec: 0.00 Email: DOM: 43 Pending Date: OS/17/17 Sold Date: 05/25/17 Sale Price: 1,105,000 DOM: 13 so: PARA Tim Johnson SA Phone: 415-710-8000 Co-SO; Co-SA Phone: Terms: Cash Selling Comments: Presented By: Daniel Curran (Lic: 01959068) / Coldwell Banker Res. R.E. Svcs (Office Lic : 01908304) Copynght 2017 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Copyright ©2017 Rapattoni Corporation. All rights reserved U.S. Patent 6,910,045 Equal Opportunity Housing * All information deemed reliable, but not guaranteed. hitp //starmls rapmis com/scrints/mgraispi dt Page 3 of 128/1/17, 4:08 PM Single-Family Homes Agent Detail Report Listings as of 08/04/17 at 4.06pm eee Z Page 4 (Misa: 466118 Sold - 780 Naples St San Francisco 94112 Excelsior $899,000; x aT Single-Family Homes LD: 03/15/17 OMD: 03/24/17 DIS: 10/C Cross St: Italy Map: CQS50 BIWLOVAPN: 6341032 Zoning: RH-1 BD:3 BA:2 Pkg: 1 Parking Type: #Rms: 5 Sq Ft Not Available SISF: Year Bullt: 1918 HOA: HOA Dues: 0.00 Paid: Lot SqFt: 1,875 HOA Name: HOA Phone: Builder/Architect: Hm Protect Plan: es ees 6: Short Sale:No REO: No Pend. Lit.: Probate: No. Court: Directions: Geneva Avenue to Naples St.go to Italy Marketing Remarks: ‘New 3 color exterior paint frames the eye catching front of the home. “The wrought iron security gate leads to a solid vertical grain fur interior door. upon entry there is a door allowing entry to the garage that's equipped wit an electronic door opener, there are washer dryer hookups. On the same level a completely new En Suite As we move up newly carpeted stairs notice the period detail wainscoting on the stair wall. Now the main living area is in view, it consist of 2BR's 1BA.kitchen,living room, study work area. Ethernet in all Rms. Gas Range+ microwave, dishwasher, refrigerator, quariz counter tops, solid cabinets, New plumbing, new wiring, new lights, new insulation, new dry wall, new paint. anda beautiful new floor thru out. Agent Only Remarks: Sellers will receive offers all day Wednesday April 5th until 8:00pm, good luck. Energy StarHome Show Go Directly Show Supra iBox Show Leave Card PossesClose of Escrow Park Attached Park Garage Park Auto Door Park Interior Access Style Victorian Main 2 Bedrooms Main 1 Bath Main Living Room Main = Kitchen Lower 1 Master Suite Kitehn Energy Star Appi(s) Kitchn Gas Range Kitchn Hood Over Range ‘Kitchn Built-in Oven Kitehn Self-Cleaning Oven Kitchn Refrigerator Kftchn ice Maker Kitchn Freezer Kitchn Dishwasher Kitchn Microwave Kitchn Island Kitchn Breakfast Area Kitchn Remodeled FoundnConcrete Cons Wood Frame Roof Composition Roof Shingle Heat Central Heating Heat Gas Heat Hot Water EnergyCeiling insulation EnergyWall Insulation EnergyWeather Stripped Energy Caulked/Sealed Energy Insulated Hot Wr Ht EnergyLow-Flow Shower(s) EnergyLow-Flow Toilet(s) Laund Hookups Only Laund In Garage Mise Fenced Yard Mise Double Pane Mise Window Screens Mise Storage Area(s) Misc Smoke Alarm(s) Misc Security Gate Windows Misc Cable TV Ba Typ Tile Ba TypShower Over Tub —_Ba Typ Stall Shower Ba Typ Remodeled Lot Level Lot Fenced Drive Paved Driveway Drive Paved Sidewalks Discts Disclosure Pkg Ava'l Discls Prelim Title Report Discls RE Transfer Disci Discls Seismic Hazard Disc! Discls Flood Hazard Discl Diseis Geological Report Discls Env Hazards Report Discls Lead Hazard Disc! Water Water-Public Water Water Heater-Gas Water Sewer System-Public Trans_1 Slock Shop 2 Blocks Brokers Tour Date: Time: Lockbox Only: Price Reduction: Remarks: Open House Date: Time: Remarks: Open House Date: Time: Remarks: Dimensions: Living: Dining: Family: Kits Master Bedroom: Occupant: Vacant Rent: Type: Name: Phone: List Office S & W Real Estate Co. Phone: 415-370-9944, FAX: 415-929-0542 List Type: ER List Agent: Samuel Williams Primary:415-370-9944 Secondary:415-370-9944 Fax: 445-929-0542 cso: 25 Email: sam@samuel-williams.com Internet: Y Co-List Office: Dual/Variable:No Co-List Agent: ucec: 0.00 Email: DOM: 413 Pending Date: 04/06/17 Sold Date: 05/03/17 Sale Price: 1,160,000 DOM: 13 so: VANGOS SA: Connie Chung SA Phone: 415-323-9000 Co-SO: VANGOG Co-SA: Kenny Gong Co-SA Phone: 415-279-2715 Terms: Fixed Conventional Selling Comments: Great Job Connie and Kenny Presented By: Daniel Curran (Lic: 01959068) / Coldwell Banker Res. R.E. Svcs (Office Lic: 01908304) Copyright: 2017 by San Francisco Assoc of REALTORS - Ail data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy Copyright ©2017 Rapattoni Corporation. All rights reserved. U.S. Patent 6,910,045 Equal Opportunity Housing * All infotmation deemed reliable, but not guaranteed. : hitpyistarmis capmis com/scriots/maraisai dit Page 4 of 128/1/17, 4:08 PM Single-Family Homes Agent Detail Report Listings as of 08/01/17 at 4 06pm Page § MLS#: 455531 Sold 801 Excelsior Ave San Francisco 94112 Excelsior $1,049,001 & A es Single-Family Homes: LD: 03/29/17 OMD: 03/31/17 DIS: 10/6 at = Cross St: Athens Map: CR50 BIk/Lot/APN: 6005028 Zoning: RH-1 BD: 4 BA: 2 Pkg: 4 Parking Type: #Rms: 6 ~Sq Ft: 1681 Per Tax Records SISF: 713.86 Year Built: 1957 HOA: No HOA Dues: 0.00 Paid: Lot SqFt: 1,663 HOA Name: HOA Phone: Builder/Architect: Hm Protect Plan: Short Sale:No REO: No. Pend. Lit: Probate: No Court: Directions: House on corner of Excelsior and Athens Marketing Remarks: is weontemporary design! This home features 2 levels of artful b light & expansive views. Upgrades to this fab 4 bedroom 2 perfect 4 entertaining & enjoying sweeping City views. A MUST SEE! VIEWS! You CAN have it all!