PLAZA De TORRE 3634 E MONTE VISTA RD., PHOENIX, AZ

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1 EXECUTIVE SUMMARY OFFERING SUMMARY Offering Price: $1,900,000 Number Of Units: 20 Cap Rate: 6.17% NOI: $117,294 PROPERTY HIGHLIGHTS Block Constructed Pitched Roofs Copper Plumbing Individually Metered for Electric Sparkling code-compliant pool 100% large 2-bedroom Units Lot Size: Building Size: 1.37 Acres 16,292 SF Ideal Value-add candidate Easily Gated Access Tile in most units Year Built: 1963 Zoning: M-M, R-3 Front and rear doors Directly Across from new Papago Elementary Abundant Parking

2 INVESTMENT SUMMARY INCOME & EXPENSES CURRENT $1,900,000 Offering Price $570,000 Down Payment $1,330,000 Proposed Loan (4.25%) Projected Cash Flow $117,294 NOI - $78,514 Loan Payments $38,780 Annual Cash Flow Return on Investment $38,780 / $570, % (Cash on Cash) PROFORMA Units Mix Size (sf) Rent Rent/sf Total Rent Total 20 2 br / 1 ba 815 $657 $0.81 $13,140 $775 $15, ,300 13,140 15,500 Market rents with 2016 Annualized Exps Gross Monthly Income $15,500 Rental Income $186,000 Vacancy -$5,200 Other Income $1,445 Laundry Revenues $2,430 Gross Operating Income $184,675 Less Estimated Expenses -$67,381 Net Operating Income $117,294 Estimated Annual Expenses Bank Chgs / Admin / Office $3,600 Cleaning $425 Insurance $4,406 Landscaping $3,000 Legal, Professional $1,000 Maintenance & Repair $12,000 Management Fees $6,000 Pest Control $1,500 Plumbing Repair & Supplies $1,576 Pool Labor & Supplies $1,508 Property Tax $6,970 Supplies $196 Utilities- Water / Elect / $25,200 Trash TOTAL $67,381 Per Unit / SF $3,369 / $4.14 FINANCING AND INVESTMENT RETURN SALE INFORMATION Current Rents Offering Price $1,900,000 Price / Unit $95,000 Price / sf $ Cap Rate (proforma) 6.2% GRM 10.2 SITE INFORMATION 3634 E Monte Vista Rd., Phoenix, AZ, UNITS: 20 LOT SIZE: BUILDING SIZE: PARCEL: COOLING/HEATING: PARKING: 42 ROOF: CONSTRUCTION: 1.37 AC 16,292 SF BUILT: 1963 UTILITIES: ZONING: M-M, R-3 LAUNDRY: PROPERTY DESCRIPTION A, B Individual Roof Mount Heat pumps pitched composition 10 block constructed duplex buildings of approximately 1632 Square Feet with pitched composition (shingle) roofing. Units have front and rear entries with back doors opening to parking. Individually metered electric on-site, Leased DO NOT DISTURB TENANTS- VIEWINGS BY APPOINTMENT ONLY: Rents average $657- so easy rent bumps of $100 - $125 across the board. 100% large 2-bedroom units in a superior East Phoenix location directly across the street from the newly constructed Papago Elementary School. This block constructed building with individual metering for electricity and copper plumbing has all the right components for substantial rent-growth through successful re-positioning. Many units have tiled floors and some updating. Property amenities include covered parking, on-site laundry, front and rear unit entries and a sparkling code-compliant pool. Rents have not been raised at the property for years. Dynamic East Phoenix location along the vibrant Thomas Road corridor. The property, which is surrounded by residential development including condominiums and improved apartment projects. Located 1/4 mile from a Wal-Mart/Home Depot power center at Thomas and 36th street, this property is surrounded by retail and employment. Immediately across the street is the newly constructed Papago Elementary School. The 100% 2-bedroom mix at the property meets the strong area demand for higher occupancy dwelling units. Directions: Thomas Road to 36th Street, south to Monte Vista, east to property

3 RENT ROLL UNIT NUMBER UNIT BED UNIT BATH UNIT SIZE (SF) CURRENT RENT CURRENT RENT (PER SF) MARKET RENT MARKET RENT/SF $637 $0.78 $775 $ $638 $0.78 $775 $ $612 $0.75 $775 $ $665 $0.82 $775 $ $650 $0.80 $775 $ $650 $0.80 $775 $ $640 $0.79 $775 $ $675 $0.83 $775 $ $665 $0.82 $775 $ $640 $0.79 $775 $ $640 $0.79 $775 $ $700 $0.86 $775 $ $640 $0.79 $775 $ $700 $0.86 $775 $ $640 $0.79 $775 $ $640 $0.79 $775 $ $680 $0.83 $775 $ $680 $0.83 $775 $ $640 $0.79 $775 $ $700 $0.86 $775 $0.95 Totals/Averages 16,300 $13,132 $0.81 $15,500 $0.95

4 PROPERTY DETAILS PROPERTY NAME: PROPERTY ADDRESS: APN: PLAZA de TORRE 3634 E Monte Vista Rd. Phoenix, AZ A, B PRICE / SF: $ LOT SIZE: BUILDING SIZE: BUILDING CLASS: 1.37 AC 16,292 SF C ZONING: M-M, R-3 PARKING SPACES: 42 YEAR BUILT: 1963 NUMBER OF STORIES: 1 FOUNDATION: WALLS: On Slab Block construction NUMBER OF UNITS: 20 ROOF: pitched composition

5 PROPERTY DESCRIPTION PROPERTY OVERVIEW DO NOT DISTURB TENANTS- VIEWINGS BY APPOINTMENT ONLY: Rents average $657- so easy rent bumps of $100 - $125 across the board. 100% large 2-bedroom units in a superior East Phoenix location directly across the street from the newly constructed Papago Elementary School. This block constructed building with individual metering for electricity and copper plumbing has all the right components for substantial rent-growth through successful re-positioning. Many units have tiled floors and some updating. Property amenities include covered parking, on-site laundry, front and rear unit entries and a sparkling code-compliant pool. Rents have not been raised at the property for years. LOCATION OVERVIEW Dynamic East Phoenix location along the vibrant Thomas Road corridor. The property, which is 100% 2 bedroom units, is surrounded by residential development including condominiums and improved apartment projects. Located 1/2 mile from a Wal-Mart/Home Depot power center at Thomas and 36th street, this property is surrounded by retail and employment. Immediately across the street is the newly constructed Papago Elementary School. The 100% 2-bedroom mix at the property meets the strong area demand for higher occupancy dwelling units. MARKET CONDITIONS / OPPORTUNITY Investors continue to bet on location when it comes to buying C properties in Phoenix. With a lack of infill sites suitable for new construction, many older properties can be transformed with selective improvements and upgrades, into relevant and desirable rental communities- capable of pulling rents beyond the $1.00/SF threshold. PLAZA DE TORRE APARTMENTS is just such a property with spacious courtyard, code-compliant pool, grilling area, community laundry and covered parking. With 100% spacious 2-bed / 1-bath units, even modest upgrades will result in significant rental upside for the new owner.

6 ADDITIONAL PHOTOS

7 ADDITIONAL PHOTOS

8 LOCATION MAPS

9 DEMOGRAPHICS MAP POPULATION 1 MILE 2 MILES 3 MILES TOTAL POPULATION 21,826 78, ,934 MEDIAN AGE MEDIAN AGE (MALE) MEDIAN AGE (FEMALE) HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES TOTAL HOUSEHOLDS 7,827 28,687 49,775 # OF PERSONS PER HH AVERAGE HH INCOME $44,000 $46,376 $55,112 AVERAGE HOUSE VALUE $254,505 $259,772 $365,515 * Demographic data derived from 2010 US Census