KEENE WAY APARTMENTS Keene Way Drive, Medford, OR

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INVESTMENT OPPORTUNITY 8 UNIT APRARTMENT COMPLEX (two 4-plexes) KEENE WAY APARTMENTS 2161-2163 Keene Way Drive, Medford, OR

1 INVESTMENT OPPORTUNITY 8 UNIT APRARTMENT COMPLEX (two 4-plexes) KEENE WAY APARTMENTS Keene Way Drive, Medford, OR Exclusively Listed by: Tom Fischer, Broker Tom@FischerCommercialNW.com E. McAndrews Rd., Ste J Medford, OR 97504

2 Table of Contents Section 1 Property Overview Financial Summary Proforma Operating Statement Section 2 Property Photographs Section 3 Area Maps/Aerial/Parcel Map

3 Property Overview Located at 2161 and 2163 Keene Way, Medford, Oregon. The property consists of two 4-plex multifamily buildings comprised of the following unit mix: Number of Units Unit Type 2 (1 each building) 2 Bedroom/2 Bath with 1-car garage each unit has a large storage closet in each garage 4 (2 each building) 2 Bedroom/2 Bath with 2-car garage 2 (1 each building) 2 Bedroom/1 Bath with 2-car garage Immediate Area The property is in a highly desirable neighborhood consisting of single family homes, apartments and County school buildings. It is conveniently located with easy access to: Neighborhood retail services and shops Rogue Valley Transportation District bus and transportation Multiple churches Property Description The Keene Way Apartments are a well maintained 2-story apartment complex located in East Medford. Excellent rental history. The units are highly desired due to the enclosed garages and storage closets. The grounds are minimal requiring little landscape care. The property has excellent curb appeal, and additional off street parking. The units have entry directly off the parking area, with most units having little street noise due to the building s orientation to the street. All kitchens are equipped with a refrigerator and an oven/range, and comfortable dining and living areas. Each unit has laundry hookups. Upstairs units have decks. The building has a pitched composition roof. The interiors of the units have been well maintained. Close proximity to North Medford High School benefits tenancy. The two buildings are on separate parcels, with a third parcel for common area. This brings additional flexibility to the investment in that the 4-plexes can be sold separately giving the owner the ability to sell half the complex at different times to spread out potential capital gains taxes.

4 AMENITIES Well maintained complex Individual garages Storage lockers Quiet neighborhood with nearby school UTILITIES All units are separately metered for electricity and gas. Residents pay for the utilities to their units. Property owner pays for water, garbage, sewer and common area utilities. HEATING & AIR CONDITIONING All units have gas furnaces, and electric air conditioning systems.

5 ZONING MFR-20 per the City of Medford MAP/TAXLOT/ASSESSORS ACCOUNT NUMBER 2161 N. Keene Way Drive Map Taxlot: 371W17CB 4001 Assessor s Account Number: N. Keene Way Drive Map Taxlot: 371W17CB 4002 Assessor s Account Number: Driveway/Common Area Parcel Map Taxlot: 371W17CB 4000 Assessor s Account Number: YEAR BUILT 1996 per County Assessor records LOT SIZE Each 4-plex lot is approximately 3,485 square feet and the common area lot is approximately 9,583 square feet per County Assessor records. Total land size is approximately 16,553 square feet. TOTAL BUILDING SIZE Each building is approximately 4,200 square feet Total improvement size is approximately 8,400 square Feet UNIT MIX Unit Type 2BR/2BA 1-car garage 2BR/1BA 2-car garage 2BR/2BA 2-car garage No. of Units Rent/Unit $910 $910 $825-$910

PROPERTY OVERVIEW NOTES 1. Square footage and lot sizes are not guaranteed. Broker, Seller and management company are making NO representations as to the accuracy of the square footage figures.

6 PROPERTY OVERVIEW NOTES 1. Square footage and lot sizes are not guaranteed. Broker, Seller and management company are making NO representations as to the accuracy of the square footage figures. Buyer should measure prior to purchase. 2. Rent levels are subject to change without notice. Actual rental amounts achieved may vary for any vacant unit or units that turnover in the future. 3. Rent levels shown are the asking re-rent levels in place at the time this package was prepared. These amounts are subject to change without notice. Actual rental amounts achieved for the apartments may vary from these levels, and are not guaranteed by Broker or Seller.

7 FINANCIAL SUMMARY Price $899,000 Number of Units 8 Price per Unit $112,375 Current Gross Scheduled Annual Income* $86,340 Gross Income Multiplier 10.3 Capitalization Rate** 5.57% Price per Square Foot $107 Based on + 8,400 square feet of gross building area Financial Summary Footnotes * Based on rents shown in Rent Roll. These rent levels are subject to change without notice. ** Based on rents, other income and expenses shown in the Operating Summary Note: When analyzing this property, Buyer should use income, vacancy and expense levels that it thinks are appropriate and will accurately reflect the manner in which it plans to operate the property

8 EXPENSES Monthly Annual Percent Property Taxes $ $ 9,633 11% Insurance $ $ 2,584 3% Utilities EWG $ $10,235 12% Maintenance $ $11,457 13% Landscaping $ $ 585 1% Total Expenses $34,494 40%

9 OPERATING STATEMENT Monthly Scheduled Rents Annually Scheduled Rents Total Scheduled Gross Income Less Vacancy Factor (2%) Effective Gross Income Total Expenses (40%) Net Operating Income Gross Income Multiplier Capitalization Rate $ 7,195 $86,340 $86,340 ( $ 1,727) $84,613 ( $34,494) $50, %

10 2161 Keene Way Drive 2163 Keene Way Drive

11 VARIOUS INTERIOR PHOTOS

12 KEENE WAY APARTMENTS

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15 PROPERTY LOCATION AND PARCEL MAPS

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20 PROPERTY LOCATION AND PARCEL MAPS

Garden Fourplex PROPERTY HIGHLIGHTS. Prepared By Garden Ave San Jose, CA 95111

Garden Fourplex PROPERTY HIGHLIGHTS. Prepared By Garden Ave San Jose, CA 95111 2795 Garden Ave San Jose, CA 95111 PROPERTY HIGHLIGHTS Offered at $1,575,000 4.7% Cap rate; 14.7 GRM NOT SUBJECT TO RENT CONTROL! Large, fully remodeled Units Four 2 bed / 1 bath units, ~920 SF each 2