38 UNIT TURN-KEY INVESTMENT!

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1 R I V E R O A K S A P A R T M E N T S 38 UNIT TURN-KEY INVESTMENT! $2,100, UNITS W R I V E R S I D E D R I V E C A R L S B A D, N M Situated on the shores of the beautiful Pecos River in sunny southern New Mexico, the River Oaks Apartments allow tenants to enjoy fishing and boating right out the back door. Shopping, restaurants, golf courses and other wonderful park amenities are all just minutes away. Known for the world famous Carlsbad Caverns National Park, Carlsbad is also home to diversified industry that continues to play an important role in steady growth of the area. C. Stuart Sloat Rampart Commercial 731 North Nevada Avenue, Suite 100 Colorado Springs, CO Phone: Mobile: Fax: apartments1031@gmail.com This property is listed in conjunction with Grubb & Ellis New Mexico Las Cruces office.

2 Invest in the Land of Enchantment... Although 2010 was a good year for Carlsbad businesses in general, I am convinced that 2011 will be even be er. Considering the amount of construc- on that is occurring in the area, Carlsbad appears to be growing and thriving. Throughout this coming year we will hold grand opening events on several new businesses and buildings including two new hotels, a big-box home improvement store, a records storage center, and a new allied health training Property Name: Location: Size: Legal Description: Land Area: Zoning: Year Built: 1966 Improvements: Net Rentable Area: Average Unit Size: Property Information River Oaks Apartments 210 W Riverside Dr. Carlsbad, NM Residential units Lots 3,4, Block 179 Tracy Subdivision. (note: Lot 2, adjacent to apartments, is NOT included in this transaction) 70,825 SF or 1.63 Acres C Residence District 39,765 SF (4 Rental Buildings) 646 SF Laundry Facility/Storage Building 38,070 SF in 38 Units 1,002 SF/Unit Unit Breakdown: Type Unfurnished Furnished 12 x 1bd/1ba $500-$575/mo. $1,100/mo. 20 x 2bd/2ba $675-$750/mo. $1,300/mo. 6 x 3bd/2ba $775-$850/mo. $1,600/mo. facility. In addi on to these exci ng projects, there are rumors that several new ea ng establishments are coming to Carlsbad as well. Economically speaking, Carlsbad seems to be progressing well ahead of many of our sister communi es. In talking with business and community leaders, the oil & gas and potash industries appear to be strengthening and the Waste Isola- on Pilot Plant has received a renewal of their waste handling permit all good news for our community. -excerpt from Le er from the Chairman, Carlsbad Chamber of Commerce FOCUS Spring 2011 Utilities: Laundry: Internet: Tenants are responsible for individually metered electric. Owner pays common electric, gas, water, wastewater & trash. Heating source is individual electric furnaces (tenant paid). All units have central air-conditioning (tenant paid). On-site laundry facility is available to all tenants. Coin-operated laundry equipment is included in this transaction. Free high speed internet for all units.

3 RIVER OAKS APARTMENTS, CARLSBAD NEW MEXICO Executive Summary Purchase Price: $2,100,000 Price/Unit: $55,263 Price/SF: $55.16 Gross Income: $343,449 Net Operating Income: $203,826 Cap Rate: 9.71% Gross Rent Multiplier 6.48 Cash on Cash Return: 18.94% Leveraged IRR: 32.13%* 25% Down Payment: $525,000 75% Loan: $1,575,000 Monthly PMT (PI) $8, Figures above based on 75% LTV, 4.75% interest, 30yr. Am. *Based on 8.5% cap sale at end of yr. 5 Information contained throughout this brochure is taken from sources deemed reliable. Neither Rampart Realty, Inc., nor Grubb & Ellis New Mexico make any warranties, either expressed or implied, regarding the accuracy of this information and advise all interested parties to verify the information and seek reliable legal and tax counsel pursuant to the acquisition of this or any property. Price, terms and availability are subject to change without notice. C. Stuart Sloat Rampart Commercial 731 North Nevada Avenue, Suite 100 Colorado Springs, CO Phone: Mobile: Fax: apartments1031@gmail.com This property is listed in conjunction with Grubb & Ellis New Mexico, Las Cruces Office RIVER OAKS APARTMENTS

4 Income & Expense

5 River Oaks Rent Roll July 2012 Unit Type Market Jul-12 Deposit held 1 2bd/2ba $ $ $ bd/2ba $ $ $ 1, bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ 1, $ $ 1, bd/2ba $ 1, $ $ 1, bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ 1, $ 1, $ 1, bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ Laundry $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ bd/1ba $ $ $ 1, bd/1ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ bd/2ba $ $ $ Total $ 29, $ 26, $ 22, Note: Three units are currently leased as furnished apartments. Additional furniture, currently in storage, enables several more units to be leased as furnished apartments. Most leases are on twelve month terms. Furnished apartments are typically leased on a shorter term basis.

6 LOCATION MAP/ AERIAL VIEW The River Oaks Apartments are conveniently located close to shopping, restaurants, & within minutes of nearly everything in Carlsbad. The city of Carlsbad continues to thrive, as industry diversifies and new construction projects bring additional employment opportunities to the area. The projects listed below demonstrate why unemployment in Eddy County is well below the national average. According to Developcarlsbad.org, weekly wages in Carlsbad are $963, compared to $794 for New Mexico as a whole. Current projects listed at Lowe's Home Improvement Marriott Fairfield Inn and Suites National Cave and Karst Research Institute (NCKRI) Trinity Hotel Cascades at Carlsbad Ken Thurston Homes Tessenderlo Kerley SunEdison RIVER OAKS APARTMENTS

7 PROPERTY COMPARABLES/ INTERIOR DESCRIPTION Subject Type Size Rent/Month Tenants Pay River Oaks Apts 1bd/1ba 700 SF (approx.) $500-$575/mo Electricity River Oaks Apts 2bd/2ba 1100 SF (approx.) $675-$750/mo. Electricity River Oaks Apts 3bd/2ba 1280 SF (approx.) $775-$850/mo. Electricity Information above from Furnished units at the River Oaks Apartments include all utilities. INTERIOR PROPERTY DESCRIPTION All two and three bedroom units are townhome style with a kitchen/living/half bath on the main level & bedrooms + full bath on the second floor. All units have central air-conditioning and individual electric furnaces. One bedroom units are single level. Second floor one-bedroom units have balconies. RIVER OAKS APARTMENTS

8 Additional Resources Hold CTRL key to access links below: Carlsbad Caverns Carlsbad Chamber of Commerce Carlsbad City Data Carlsbad Department of Development DOE WIPP Home Eddy County Sunrise on El Capitan in Guadalupe National Park. The Park is just 56 miles south of Carlsbad. Guadalupe Mountains National Park Source: Carlsbad Community Economic Assessment, pg35. For additional information visit website via link above. RIVER OAKS APARTMENTS