Presidio House Apartments 2912 & 2916 E. Presidio, Tucson, AZ 85716

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1 Presidio Rd Property Features Sale Price $900,000 Price per Bed $56,250 Number of Bedrooms 16 Rentable Square Feet 6,398 CAP Rate 6.72% Property Highlights is a luxury student housing development consisting of 16 total bedrooms across three 2-story individual houses. The property has a 5 bedroom-2.5 bath 2,390 SF house, a 6 bedroom-3 bath 2,271 SF house and a 5 bedroom-2 bath 1,737 SF house. Located a few blocks from La Madera Park, east of Tucson Blvd and north of Glenn St (University bus route with a bike lane). Campbell Plaza is two blocks to the west on Campbell Ave and Glenn St. The plaza includes Albertson s, Ace Hardware, Ross, Five Guys Burgers, Panda Express, Rubio s, Jamba Juice, Old Chicago Pizza, T-Mobile, Sauce, etc. With plenty of off-street parking and a great location, is the ideal home for any college student. Allan Mendelsberg, Principal Multifamily & Investment Sales amendelsberg@picor.com Logan Nagel, Assistant Multifamily & Investment Sales lnagel@picor.com PICOR Commercial Real Estate Services 5151 E. Broadway Blvd, Suite 115 Tucson, Arizona phone: picor.com same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 9/10/2018

2 SUBJECT Downtown Tucson

3 Pro Forma Total Type # of Units Sq. Ft. Total S.F. Rent per S.F. Monthly Rent Stabilized Rent 5 BD / 2 BA ,737 $1.45 $2,515 $2,515 5 BD/ 2.5 BA ,390 $1.06 $2,530 $2,530 6 BD / 3 BA ,271 $1.36 $3,095 $3,095 Total/Avg. 3 2,133 6,398 $1.27 $8,140 $2,713 Income Statement RENTAL INCOME Marketing Proforma Proforma Per Unit Proforma PSF August July 2018 School Year Gross Market Rent $97,680 $32,560 $15.27 Vacancy Loss -$4, % ($0.76) Gross Rent $92,796 $30,932 $14.50 $88,335 Concessions & Bad Debt -$ % ($0.15) $0 Net Rental Income $91,868 $30,623 $14.36 $88,335 Other Income (Fees, various reimbursements, etc) $2,300 $767 $0.36 $18,352 TOTAL INCOME $94,168 $31,389 $14.72 $106,687 STABILIZED MARKET VALUATION Value $900,000 Per Bed $56,250 Per Unit $300,000 Per Sq. Ft. $ Cap Rate August 2017-July 2018 School Year 7.11% Mktg Proforma 6.72% OPERATING EXPENSES Marketing $2,000 $667 $0.31 $4,232 General & Admin $1,500 $500 $0.23 $486 Repairs, Maintenance & Supplies $5,500 $1,833 $0.86 $6,115 Contract Services $2,000 $667 $0.31 $2,001 Utilities (All utilities billed back to residents; owner pays internet) $2,556 $852 $0.40 $16,660 Turnover $1,000 $333 $0.16 $1,735 TOTAL VARIABLE $14,556 $4,852 $2.28 $31,227 Property Taxes $9,916 $3,305 $1.55 $9,916 Property Insurance $1,600 $533 $0.25 $1,598 Management Fee $6,592 7% $1.03 $0 Reserves $1,000 $333 $0.16 $0 TOTAL EXPENSES $33,664 $11,221 $5.26 $42,742 NET OPERATING INCOME $60,504 $20,168 $9.46 $63,945

4 Floor Plan 5-BD/2BA 1,737 SF First Floor Second Floor

5 Floor Plan 5-BD/2.5BA 2,390 SF First Floor Second Floor

6 Floor Plan 6-BD/3BA 2,271 SF Second Floor First Floor

7 Features Property Features 2 or 3 Full Baths w/double Vanity Sinks Furnished Common Areas, Including Patio Furniture 2 Levels Alarm System Architectural Polished Concrete Floor Balconies Built-In Niches High-Speed Internet Provided Dishwasher Frost-free Refrigerator with Icemaker Full Size Washer/Dryer Garbage Disposal High Ceilings w/ ceiling fans Individual Home Large Spacious Floorplan Lighted Parking Microwave Mirrored Closet Doors Natural Stone Tile/Carpet No Security Deposit (O.A.C.) Pets Welcome Private, Fenced Yard Professionally Maintained Landscaping Prompt Maintenance Recessed Lighting Skylights Stainless Stove w/ Self Cleaning Oven Storage Closet Under Stairs Upper Deck Wall of windows in living/dining area Zoned Heating & A/C

8 Property Photos

9 2912 & 2916 E. Presidio Price $900,000 Price per Bed $56,250 Price per SF $ Bedrooms 16 Size (SF) 6,398 S Year Built 2011 Sale Date TBD rd Avenue Apartments N. 3rd Avenue Price $868,000 Price per Bed $86,800 Price per SF $ Bedrooms 10 Size (SF) 3,474 Year Built 2009 Sale Date July 1, th Street Apartments 1304 E. 10th Street Price $825,000 Price per Bed $91,667 Price per SF $ Bedrooms 9 Size (SF) 2,864 Year Built 2007 Sale Date June 15, 2017 Water Street Homes 2550 E. Water Street Price $3,300,000 Price per Bed $73,333 Price per SF $ Bedrooms 45 Size (SF) 15,534 Year Built 2014 Sale Date Sep.18, 2017 Allan Mendelsberg, Principal Multifamily & Investment Sales amendelsberg@picor.com Logan Nagel, Assistant Multifamily & Investment Sales lnagel@picor.com PICOR Commercial Real Estate Services 5151 E. Broadway Blvd, Suite 115 Tucson, Arizona phone: picor.com property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.