PARK PLACE KANSAS CITY, MISSOURI. 34 total units Built in 1979 A 4800 MAIN ST, SUITE 400, KANSAS CITY, MO P W OPENAREA.

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1 PARK PLACE KANSAS CITY, MISSOURI 34 total units Built in 1979

2 OPPORTUNITY: RECENTLY RENOVATED STABILIZED ASSETS

3 OPPORTUNITY THE OPPORTUNITIES & HIGHLIGHTS AREA Real Estate Advisors is pleased to present Park Place Apartments. Park Place Apartments consist of 34 Units. They respectively offer investors an opportunity to purchase well performing assets with little upfront cost. Park Place has recently undergone renovations and provides a new investor with a turn-key opportunity, located in a community with high rental demand. OPPORTUNITY HIGHLIGHTS: - Recently renovated - Walkable infill locations - Stabilized occupancy - Potential rent increases - 34 total units - City back restart/rediscover program AREA ATTRACTIONS Park Place Apartments is located at 7004 Cleveland, just north of Gregory road and walking distance to historic Swope Park, the city's largest green space encompassing soccer pitches, golf courses and a treetop adventure park. Also, within the park is the iconic Starlight Theatre, an outdoor venue for Broadway musicals, pop concerts and comedy, and the Kansas City Zoo.

4 WHY INVEST IN THE MIDWEST

5 WHY THE MIDWEST The Midwest is a cultural crossroads in the heart of the U.S. With low costs of living and an innate passion for community, residents of the region are proud and rooted in strong family values. Low home prices and access to fruitful jobs mean high discretionary incomes are prevalent. Affordable land, housing and low cost of living Midwest common sense Storied work ethic Culturally rich in food, arts & entertainment THE KANSAS CITY METRO The Kansas City region covers roughly 9,193 square miles about the size of New Jersey. KC s 2.5 million residents reside in 18 counties in Kansas and Missouri. Kansas City is an energetic city forged by a rich history, C is brimming with culture and activities for locals and visitors alike. KC has invested over 6 billion dollars to create new attractions from performing arts districts to world-renowned athletic facilities. Not to mention more than 55 million Americans can get to Kansas City in less than a day s drive and KC s International Airport is just a three-hour flight from each coast. It was voted as one of the Best Cities to Live In by Money Magazine, Forbes Magazine and Livability.com. WHY INVEST IN THE MIDWEST Metro population of 2.1 million KCI airport is a 3 hour flight from each coast Home to American Century, Hallmark, Garmin & Sprint Saveur magazine called KC America s next great culinary destination First Google Fiber equipped city KC Royals World Series Champs! Accessible to 55 million Americans in less than a day s drive Travel + Leisure s #1 affordable getaway The birth place of Jazz Known as the City of Fountains Home to more than 100 BBQ establishments

6 POPULATION GROWTH 435, , ,087448, , , , , MINUTE DRIVE TIME DEMOGRAPHICS POPULATION...1,242,539 HOUSEHOLDS...515,022 AVG HH INCOME...$71,959 SOME COLLEGE OR HIGHER...515,876 TOTAL EMPLOYEES...751,100 ABOUT KANSAS CITY, MO TOP AREA PRIVATE EMPLOYERS 1. Cerner Corporation - 12,890 employees 2. HCA Midwest Health System - 9,924 employees 3. Saint Luke s Health System - 8,123 employees 4. Ford Motor Co., KC Assembly Plant - 7,720 employees 5. Children s Mercy Hospital - 6,969 employees 6. Sprint Corporation - 6,000 employees 7. DST Systems, Inc. - 4,990 employees 8. Garmin, Ltd. - 3,384 employees 9. Truman Medical Center - 3,225 employees 10. Prime Healthcare Services - 3,058 employees

7 PARK PLACE PROPERTY HIGHLIGHTS

8 AREA Real Estate Advisors is pleased to present Park Place Apartments, a 34-unit apartment community built in 1979 and located at 7004 Cleveland Avenue in Kansas City, MO. Park Place offers investors a stabilized turn-key investment opportunity to purchase a property that has recently undergone a complete renovation from top to bottom repositioning the asset which has now reached 100% occupancy. Name: Park Place Roof: Pitched Composition Shingle Address: 7004 Cleveland Ave Construction Type: Brick City, State: Units: Kansas City, MO 34 Property Characteristics: Newly renovated, excellent access throughout the metro, stabilized 100% occupied, strong rental market, attractive unit layouts Built: Stories: # of Buildings: Utilities Metering: Utilities Responsibility: Gas, Trash and Water. All heat is electric. Electric and charged $20 a month utility fee. PROPERTY HIGHLIGHTS Average SF: Net Site Size: 646 SF 1.3 acres Occupancy: 100% Unit Mix: 14 - Two Bedroom 9 - One Bedrooms 9 - One Bedrooms 2 - Studios Avg SF: 750 SF Avg SF: 650 SF Avg SF: 650 SF Avg SF: 400 SF Avg Rent: $700 Avg Rent: $ Avg Rent: $ Avg Rent: $ Rent PSF: $0.93 Rent PSF: $0.96 Rent PSF: $1.10 Rent PSF: $1.38

9 PHOTOS / AMENITIES

10 EL LV D AN DA VE RE GO EG PROPERTY AERIAL EV RY B CL

11 PARK PLACE FINANCIAL ANALYSIS

12 Executive Summary Park Place Apartments 7004 Cleveland Ave, Kansas City, MO Property Information Number of Units 34 Units Rentable Square Feet 21,960 SF Average Square Feet per Unit 646 SF Year Built 1979 Forecasted Operations Scheduled Market Rent per Month Effective Gross Income (EGI) per Month Net Operating Income (NOI) per Month $21,800 per Month $23,184 per Month $13,358 per Month Real Estate Taxes per Unit Insurance per Unit Utilities per Unit Total Controllable Expenses per Unit Total Expenses per Unit $245 per Unit $286 per Unit $1,235 per Unit $2,119 per Unit $3,885 per Unit FINANCIAL ANALYSIS Management Fee 6.00% of EGI Replacements & Reserves per Unit $300 per Unit Assumptions Annual Increase in Income 3% Loss to Lease 1% Vacancy Rate 5% Annual Increase in Expenses 2%

13 Units Type Unit SF Total SF Market Rent UNIT MIX Monthly Mkt. Rent Annual Mkt. Rent Rent/SF Unit Mix % 2 Studios $550 $1,100 $13,200 $ % 18 1bd/1ba ,800 $625 $11,250 $135,000 $ % 14 2bd/1ba ,360 $675 $9,450 $113,400 $ % ,960 $617 $21,800 $261,600 $ % Income Scheduled Market Rent Concession/Loss to Lease Vacancy Net Rental Income T-3 Annualized ProForma $261,600 $261,600 ($1,348) 0.5% ($1,308) ($13,068) 5% ($13,080) $247,184 $247,212 FINANCIAL ANALYSIS Other Income Fees and other Income Restart / Rediscover Utility Reimbursements Total Other Income Effective Gross Income $8,132 $9,000 $16,000 $16,000 $2,800 $6,000 $26,932 $31,000 $274,116 $278,212

14 Effective Gross Income Operating Expenses $278,212 $274,116 FINANCIAL ANALYSIS Expenses Real Estate Taxes Insurance Utilities Contract Services R&M Marketing General Admin Management Fee Replacement Reserves Total Expenses Net Operating Income Per Unit ProForma T-3 Annualized $245 $8,349 $7,534 $286 $9,738 $18,575 $1,235 $42,000 $41,856 $200 $6,800 $24,491 $500 $17,000 $25,424 $125 $4,250 $4,438 $85 $2,890 $1, % $307 $16,693 $11,646 $300 $3,283 $117,920 $145,714 $160,292 $128,402

15 CASH FLOW PROJECTION Income Monthly EOY 1 EOY 2 EOY 3 EOY 4 EOY 5 EOY 6 EOY 7 EOY 8 EOY 9 EOY 10 Scheduled Market Rent $21,800 $261,600 $269,448 $277,531 $285,857 $294,433 $303,266 $312,364 $321,735 $331,387 $341,329 ($109) ($1,308) ($1,347) ($1,388) ($1,429) ($1,472) ($1,516) ($1,562) ($1,609) ($1,657) ($1,707) Vacancy ($1,090) ($13,080) ($13,472) ($13,877) ($14,293) ($14,722) ($15,163) ($15,618) ($16,087) ($16,569) ($17,066) Other Income $2,583 $31,000 $31,930 $32,888 $33,875 $34,891 $35,937 $37,016 $38,126 $39,270 $40,448 $25,582 $278,212 $286,559 $295,154 $304,010 $313,129 $322,524 $332,200 $342,165 $352,430 $363,003 Real Estate Taxes $696 $8,349 $8,516 $8,686 $8,860 $9,037 $9,218 $9,402 $9,590 $9,782 $9,978 Insurance $812 $9,738 $9,933 $10,131 $10,334 $10,541 $10,752 $10,967 $11,186 $11,410 $11,638 Loss to Lease Effective Gross Income Expenses $3,500 $42,000 $42,840 $43,697 $44,571 $45,462 $46,371 $47,299 $48,245 $49,210 $50,194 Contracted Services Utilities $567 $6,800 $6,936 $7,075 $7,216 $7,361 $7,508 $7,658 $7,811 $7,967 $8,127 Repairs & Maintenance $1,417 $17,000 $17,340 $17,687 $18,041 $18,401 $18,769 $19,145 $19,528 $19,918 $20,317 Marketing $354 $4,250 $4,335 $4,422 $4,510 $4,600 $4,692 $4,786 $4,882 $4,980 $5,079 General & Administrative $241 $2,890 $2,948 $3,007 $3,067 $3,128 $3,191 $3,255 $3,320 $3,386 $3, % $16,693 $17,194 $17,709 $18,241 $18,788 $19,351 $19,932 $20,530 $21,146 $21,780 $850 Total Expenses $8,436 Op Ex % of Gross Income $117,920 42% $120,241 42% $122,614 42% $125,039 41% $127,518 41% $130,053 40% $132,643 40% $135,291 40% $137,998 39% $140,766 39% Net Operating Income $160,292 $166,317 $172,541 $178,971 $185,611 $192,471 $199,557 $206,874 $214,432 $222,237 Management Fee Replacement Reserve $17,147

16 FOR MORE INFORMATION GRANT KOLLMAN D E GKOLLMAN@OPENAREA.COM