526 Park Way Chula Vista, Kelly O Connor- ACI

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1 526 Park Way Chula Vista, Kelly O Connor- ACI

2 526 PARK WAY LOCATION MAP Area Description: Chula Vista is the second largest city in the San Diego metropolitan area. The population was 243,916 as of the 2010 census. Located just 7.5 miles from downtown San Diego and 7.5 miles from the Mexican border in the South Bay region of the metropolitan area, the city is at the center of one of the richest economic and culturally diverse zones in the United States. Chula Vista is so named because of its scenic location between the San Diego Bay and coastal mountain foothills.

3 526 PARK WAY AERIAL PHOTO

4 SUMMARY A beautiful 3 unit apartment building tucked away in a family friendly neighborhood of Chula Vista. Each unit consists of three large 2 bedroom 2 bathroom units. Each unit has its own garage as well as additional parking in large driveway. Exterior Ample Parking Back/side yard Garage for each Unit Great neighborhood Property Highlights: All 2BD/2BA units Approximately 1100 SF/ Unit Fireplaces Washer Dryer in unit Remodeled New Paint job

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7 PHOTOS- INTERIOR

8 PHOTOS- INTERIOR

9 INVESTMENT SUMMARY APARTMENT INVESTMENT INFORMATION # Units Address City Park Way Chula Vista Zip Value GRM CAP Rate $ / Unit $749,000 Current Market Current Market $249, % 4.92% $ / Square Foot Gross Sq. Ft. Parcel Size Yr. Built (Approx.) (Approx.) (Approx.) (+/-) $ ,350 6, Income Detail Annual Operating Expenses # of Units Type Rent Total (Estimated) Current Income Advertising $0 Management (Off Site) $0 Elevator $0 Management (On Site) $0 Gas & Electric $240 Licenses & Fees $ Bed 2 Bath $1,300 $3,900 Water & Sewer $1,860 Miscellaneous $0 Landscaping $525 Reserves $0 Trash Removal $495 Pool $0 Pest Control $65 Insurance $1,500 Total Monthly Income $3,900 Maintenance $2,125 Taxes* $8,239 Market Income * Reflects new tax rate for Buyer 3 2 Bed 2 Bath $1,575 $4,725 Total Est Annual Expenses $15,449 Expenses per: Est. Sq. Ft. $4.61 Unit $5,150 Total Monthly Income $4,725 % of GSI 33.01% Annual Operating Proforma Financing Summary Current Market Gross Scheduled Income $46,800 $56,700 Down Payment $187,250 Less: Vacancy Factor 3.00% $1,404 $1,701 25% Gross Operating Income $45,396 $54,999 Less: Expenses 33.01% $15,449 $18,156 Net Operating Income $29,947 $36,843 Proposed Financing: $561,750 Interest Rate: 4.200% Less: 1st TD Payments ($32,965) ($32,965) Amortized over: 30 Pre-Tax Cash Flow ($3,018) $3,879 Cash on Cash Return -1.61% 2.07% Debt Coverage Ratio: 0.91 Principal Reduction $9,554 $9,554 Total return before tax shelter 3.49% 7.17% Property Description Contact Information Kelly O'Connor BRE# Cell kelly@aciapartments.com 2635 Camino Del Rio South # 300 San Diego, CA The information contained herein has been obtained from sources believed reliable. While ACI Commercial does not doubt its accuracy, we have not verified it, and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax, financial, and legal advisors. You and your advisors should conduct a careful, independent, investigation of the property to determine to your satisfaction the suitability of the property to your needs.

10 Rent Comparables 5 RENTAL G Street SURVEY G Street Del Mar Avenue Chula Vista, Del Mar Avenue Chula Vista, 919 Yr Built: 1966 Units: 7 Yr Built: 1976 Units: 16 Unit Mix Sq Feet Rent A Rent/SF Unit Mix Sq Feet Rent A Rent 2 Bed 2 Bath 1000 $1,350 $ Bed 2 Bath 900 $1,150 $1.2 Occupancy: Assigned Parking, Washer Dryer In Unit, Patios 100% Laundry On Site, Assigned Parking Occupancy: 94% alm Villas Apartments 4. St. Thomas Apartments Moss Street Chula Vista, F Street Chula Vista, 919 Yr Built: 1980 Units: 42 Yr Built: 1957 Units: 45 Unit Mix Sq Feet Rent A Rent/SF Unit Mix Sq Feet Rent A Rent 1BR/1BA 950 $1,275 $1.34 2Bed/2Ba 980 $1,450 $1.4 On Site Laundry, Off Street Parking, Courtyard Occupancy: 89% Assigned parking, Walk-in closets, Laundry on site Occupancy: 97% rk Woods Target Property: Center Road Chula Vista, Park Way Chula Vista, 919 style="display:inlinyr Built: 1981 Units: 300 Yr Built: 1987 Units: 5 Unit Mix Sq Feet Rent A Rent/SF Unit Mix Sq Feet Rent A Rent 2Bed/2Ba 1200 $1,595 $1.33 2Bed/2Ba 1300 $1,030 $0.7 Assigned parking, Laundry In Unit Fireplaces, Garages, Large Units Occupancy: 88% Occupancy: 100% Year Built 1973 Units Occupancy Rents SqFt 55 94% Rent per Sq Ft ntal Averages 2 Bed 2 Ba $1, $1.26

11 RENTAL SURVEY - MAP 526 Park Way 1) 565 G Street 2) 1075 Del Mar Avenue 3) 363 Moss Street 4) 670 F Street 5) 376 Center Road 6) 526 Park Way Year Built 1973 Units Occupancy Rents SqFt 55 94% Rent per Sq Ft Rental Averages 2 Bed 2 Ba $1, $1.26