TILBURY FERGUSON THE MANHATTAN - 55 APARTMENT UNITS PRICE: $9,000,000 INVESTMENT REAL ESTATE, INC NW EVERETT STREET, PORTLAND, OR 97210

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1 THE MANHATTAN - 55 APARTMENT UNITS 2209 NW EVERETT STREET, PORTLAND, OR 9720 LIZ TILBURY, CCIM liz@tfn-ire.com BEN MURPHY ben@tfn-ire.com EXCLUSIVE MULTI-FAMILY OFFERING PRICE: $9,000,000 2 NW HOYT STREET, SUITE 20 PORTLAND, OREGON OFFICE: (50) FAX: (50)

2 THE MANHATTAN - 55 APARTMENT UNITS 55 APARTMENT UNITS PRICE: $0,000,000 LISTING BROKERS: Liz Tilbury, CCIM Ben Murphy liz@tfn-ire.com ben@tfn-ire.com 55 Apartment Units 2209 NW Everett St. Portland, OR PROPERTY HIGHLIGHTS Class A Location - Portland s Historic Alphabet District (Nob Hill), five minutes to city center. 90 s Egyptian Style Bricker Multi-Modal Transit Location - Identified as Walkers Paradise, walk score (98) and bike score (90). Long-term Owner - Significant income upside, owner-managed with below market rents. Amenity-rich Neighborhood - One block from NW 2rd Avenue offering some of the best dining & specialty retail Portland has to offer. Excellent Exposure - Corner lot facing NW Everett Street and 2st Avenue. Strong Market Fundamentals -Oregon ranked # moved to state in 207 (United Van Lines). Extensive Exterior Improvements - $240,000 brick veneer restoration project in PLEASE DO NOT DISTURB RESIDENTS

3 THE MANHATTAN - 55 APARTMENT UNITS WALK SCORE 98 TRANSIT SCORE 79 BIKE SCORE 90 Rail Lines: Portland Streetcar - NS Line (0. mi) MAX Blue Line mi MAX Red Line mi Portland Streetcar - A Loop (0.7 mi) Bus Lines: 5 Belmont/NW 2rd - 0. mi 20 Burnside/Stark - 0. mi 77 Broadway/Halsey - 0. mi 8 Hillside - 0. mi

4 M NEIGHBORHOOD MAP Portland Street Car NW 2rd Ave. NW 2st Ave. Pearl District Trader Joe s Manhattan Apts. Central Business District Fred Meyer Providence Park Multnomah Athletic Club Max Transit

5 S UNIT MIX & SORTED RENT ROLL UNIT MIX SORTED RENT ROLL - CONTINUED Current Monthly Rents: Number Type SF Rent $/SF 4 SRO 85 $62 $. Studio 475 $,062 $2.26 One Bed 475 $995 $ One Bed 650,205 $.85 One Bed 700 $,242 $.77 Two Bed 960 $,72 $ $,05 $2.08 Proforma Rents: Number Type SF Rent $/SF 4 SRO 85 $4.0 Studio 475 $,245 $2.62 One Bed 475 $,245 $ One Bed 650 $,95 $2.5 One Bed 700 $,495 $2.4 Two Bed 960,995 $ $,29 $2.45 SORTED RENT ROLL Type Current Rent Highest Achieved Count SRO $500 $575 $580 $595 $650 2 $695 SRO Total $62 4 Type Current Rent Highest Achieved Count x sm. x sm. Total $995 $995 $,245 $,95 x x Total $,025 $,00 $,0 $,25 $,45 $,50 $,75 $,80 $,95 $,25 $,250 $,95 $,450 $,205 $,95 $,95 $,95 $,95 $,95 $,95 $,95 $,95 $,95 $,95 $,95 $,95 $,95 $, x lg. $,00 $,495 $,220 $,495 $,250 $,495 $,295 $,495 $,45 $,495 x lg. Total $,242 $, x 2 x Total $,620 $,750 $,765 $,72 $,995 $,995 $,995 $,995 Averages/Total $,05 $,29 55 Studio Studio Total $90 $,245 $950 $995 $,000 $,025 $,050 $,075 $,245 $,40 $,062 $,245 $,245 $,245 $,245 $,245 $,245 $,245 $,245 $,

6 THE MANHATTAN - 55 APARTMENT UNITS INVESTMENT SUMMARY PROPERTY HIGHLIGHTS Price Price Per Unit Approx: Price Per SF Average Rent (Current) Average Rent (Proforma) $0,000,000 $8,88 $49 (Approx.) $,05 $,244 INCOME & EXPENSE PROFORMA Gross Income $82,00 Vacancy (5%) $4,055 Misc. Income $,200 (GOI) Income $86,45 Expenses (8.5%) $2,754 Expenses ($/Unit) $5,850 Net Operating Income $54,9 Proforma Cap Rate 5.% Address 2209 NW Everett Street, Portland Neighborhood Alphabet District (Nob Hill) No. Units 55 Year Built 90 Net Rentable SF 28,670 SF (approx.) Gross Building Area 9,280 SF (Per County Records) Design Mid-Rise Style Egyptian (Pharoah figures) No. Stories 4.5 (full daylight basement) Exterior Walls Reinforced Concrete Roof Flat - Membrane Exterior Brick veneer with tall parapets Windows Steel casement Access Elevator; Two Stairways Heat Gas Furnaces (Williams wall mount) Electrical Fuse system Water Heater Two Gas-Fired Central Heaters Laundry washers; dryers (owned)

7 THE MANHATTAN - EXTERIOR PHOTOS

8 THE MANHATTAN - INTERIOR PHOTOS

9 R RENT COMPARABLES / JUNE 208 Rent Comparables 208) Name & Location Year Built Total Single Room Occ. Units S.F. Rent $/S.F. Studio Bed / Bath 2 Bed / Bath S.F. Rent $/S.F. S.F. Rent $/S.F. S.F. Rent $/S.F. RUBS W/D Occp. Alexandra Court Apts. 25 NW 20th Place $,004 $ $,262 $2.02 Included 95% Frances Court 07 NW 20th Ave $,050 $ $,070 $2.55 $50/m 92% Elizabeth Apartments 228 NW 22nd Avenue $,069 $ $,408 $2.04 $50- $75/m 00% Lucretia Court NW 22nd Place $,95 $ $,495 $ $,850 $.68 Included 97% Olympic Apartments 707 NW 9th Avenue $,47 $ $,75 $ $,400 $ $,875 $2.2 $50/m Heat $40/m 9% The Arthur 726 SW th Avenue $892 $4.5 Tenant Pays 00% Presidential Court 220 NW Everett $980 $ $,95 $2.02 Wifi Incl. Tenant Pays 98% Flanders Apartments 200 NW Flanders St $965 $ $,50 $.8 $0/m 9% The Classic 2056 NW Glisan Street $,95 $ $,95 $ $2,275 $2.28 $65-00% Maxwell Hall Building 99 SW 4th Avenue $500 $4.00 Included 97% The Fransisco Apts 246 NW Glisan Street $,9 $ $,67 $2.22 Included 97% Average 62 $696 $ $,099 $ $,099 $ $2,000 $ % Manhattan Apart NW Everett St $582 $ $980 $ $,226 $.87 9 $,68 $.76

10 S SALES COMPARABLES Name Address Year Built Units Sales Price Per SF Per Unit Sale Date Amber Court 225 NW Irving Street $7,025,000 $00 $80,28 6//8 The Bretnor 9 NW 20th Avenue 92 2 $4,000,000 $262 $90,476 6/25/8 Elephant Court NW Lovejoy Street 94 $2,200,000 $0 $200,000 4/27/8 The Arthur (2) 726 SW th Avenue 92 Ren $7,600,000 $420 $52,000 /26/ Building 2020 SW Salmon Street $4,425,000 $94 $262,27 //8 San Marco 80 NE Couch Street $,77,000 $42 $57,208 2/5/7 Average $7 $90,48 The Arthur - Seismically reinforced & renovated. The Manhattan 9 55 $,000,000 $89 $200,000 The Manhattan

11 N NEIGHBORHOOD DESCRIPTION NW Portland Neighborhood The Manhattan is located in one of Portland s most soughtafter neighborhoods The Alphabet District (Nob Hill). Iconic landmarks include Pittock Mansion, Forest Park, and shopping/dining along NW 2rd Avenue. Located south of Burnside Street in Goose Hollow, Providence Park is an iconic Portland experience and is home to the Portland Timbers. Most of the year the neighborhood becomes flooded with excited Timbers fans who sell out the entire stadium. It is no surprise that earlier this year Providence Park announced a $50 million, privately funded, expansion which will allow the stadium to accommodate an additional 4,000 fans. In addition to the Providence Park expansion, Nob Hill (or the Alphabet District, as it is commonly referred) will experience massive redevelopment on various under utilized lots. Located at 404 NW 2rd Avenue, a new fourstory residential building, currently in design/land use, will feature 2 units and 7 parking spaces. A roof deck is also proposed. At 2280 NW Glisan, Restoration Hardware has a new -story retail development which includes a rooftop terrace and parking garage. On NW Glisan, two additional projects have been announced at the Robert & Ann Sacks House. A few blocks to the East, a new 4-story mixed use development is underway at 65 NW 2st Avenue and will feature commercial space on the ground floor with underground parking. NW Portland is bustling with the same growth and excitement as most other close-in neighborhoods; however, a large area of the district is being re-zoned for historic preservation. Nob Hill will continue to pre-serve its historic significance and many of the large craftsman style and old-portland style homes on beautiful tree-lined streets. On the other hand, the neighborhood will soon see numerous additional pockets of sleek new developments. NW 2rd Avenue boasts a large concentration of Portland s most popular restaurants and shops, tightly packed together among turn-of-the-century apartment buildings all within walking distance to grocery stores, shopping, and Portland s newly expanded Streetcar line.

12 N NEIGHBORHOOD DESCRIPTION CONT. NW Portland Neighborhood This area became even more desirable due to the huge expansion into the former Con-way campus, a 20-acre parcel better known as Con-way Square or Slabtown. Expected completion is 208 and the project will connect the Pearl District to Northwest Portland. It includes,200 apartments, 400,000 SF of office space, and 80,000 SF of retail space and is a significant opportunity for a new pedestrian friendly neighborhood. Also included in the plan is the development of Block 290, a large courtyard and greenspace connecting several pedestrian walkways and bike paths in the area. For anyone who wants to take a break from the hustle and bustle of city life, Northwest Portland is just a few blocks from two of the city s largest parks. Washington Park and Forest Park, referred to as an Urban Forest, are some of the largest (city) parks in the U.S. and boast miles of hiking/biking trails. Portland is well-known for its love of green spaces, lush trees, and vibrant natural forests. Washington Park is an extension of Forest Park and connects to the Oregon Zoo, Children s Museum, World Forestry Center, Hoyt Arboretum, International Rose Garden and Portland Japanese Gardens.

13 N HISTORIC ALPHABET DISTRICT Historic Resource Inventory (HRI) The Historic Resources Inventory (HRI) is the product of a citywide survey of potentially significant historic resources that were documented for their eligibility for future historic designation. Listing in the HRI is not a designation, but a determination of historic significance based upon initial research and documentation. Resources on the HRI that were found to be most significant were given a rank of I, II, or III; resources that had historic features but were not found to be significant were not ranked. All surveyed resources can be included in the HRI, but only those determined to be eligible for historic designation can be considered significant. The HRI was last updated in 984. In response to recent changes in State Administrative Rules that had long limited the City s ability to update the HRI, the Bureau of Planning and Sustainability in is undertaking a review of how best to update the HRI in future years. State Tax Benefit To be eligible for listing, a resource must generally be more than 50 years old, convey historic significance, and maintain physical integrity. Historic significance may include A) a connection with a historic event or trend, B) a notable historic person, C) an example of notable architecture, construction, design, or engineering, and/or D) the potential to yield scientific in-formation, such as an archaeological site. Properties with demonstrated historic significance must also closely resemble their historic appearance to be eligible for listing. Evaluation of physical integrity includes the location, design, setting, materials, workmanship, feeling, and association of the resource. The National Register constitutes the official federal list of properties that are significant in American history, architecture, archaeology, and engineering. The following benefits apply to National Register-listed properties: () Recognition, (2) Federal tax credit eligibility, () State tax benefit, (4) Grant eligibility, (5) Building code leniency, (6) Consideration in planning for federal projects. The state tax benefit program allows owners to apply to freeze the assessed value for a 0-year period. However, as a condition of the tax benefit the owner must provide a preservation (rehabilitation) plan that meets SHPO standards. Additionally, the property is reassessed the year in which the state tax benefit is applied for.