OVERVIEW. Price: $9,295, Arey Drive, San Diego, Ca bed/2 bath units. Built: Single level, wood frame

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OVERVIEW Price: $9,295,000 Address: Units: 3590-3710

92154 30-3 bed/2 bath units Parking: Assigned

2 OVERVIEW Price: $9,295,000 Address: Units: Arey Drive, San Diego, Ca bed/2 bath units Parking: Assigned Exterior Built: 1976 Lot Size: 5.75 Acres Building: Single level, wood frame Roofs: Tiled

3 Outline is aproximate and should not be construed as a legal map of the property

PROPERTY HIGHLIGHTS Desirable Otay Mesa Location 1976 Construction Large 3-bedroom 2 bath units Great proximity to YMCA, Restaurants, Shopping, and places of worship Individually metered for gas and

6 PROPERTY HIGHLIGHTS Desirable Otay Mesa Location 1976 Construction Large 3-bedroom 2 bath units Great proximity to YMCA, Restaurants, Shopping, and places of worship Individually metered for gas and electric Each unit has a separate parcel number Well maintained units with recent upgrades All units have a private yard Rental upside Single level The subject properties are part of the Candlight Condominium Project. Built in 1976 the project consists of 80 town houses all are threebedroom two bath units with interior washer dryer hookups. The unit interiors have been updated including the kitchens and baths. Each unit has tow parking spots in the exterior lot. Common area amenities include a pool and play area.

7 MARKET OVERVIEW

8 FINANCIAL OVERVIEW SCHEDULED INCOME Number of Units Bed/Bath Sq FT Current Rents Monthly Income Market Rents Market Monthly Income 30 3/2 1,071 $1,668 $50,025 $2,100 $ 60,000 INVESTMENT SUMMARY FINANCIAL SUMMARY Actual Market Price $9,295,000 Annual Gross Income $561,658 $756,000 Number of Units 30 Price per Unit $309,833 Operating Expenses Price Per SF $289 Taxes $38,958 $102,245 Current Gross Rent Multiplier Repairs & Maintenance $15,882 $15,000 Market Gross Rent Multiplier HOA $ 131,880 $131,880 Year Built 1976 Management $45,360 Lot Size 5.75 Ac Other Taxes $504 $ 1,000 Bank Charges $812 Total Operating Expenses $188,037 $295,485 Net Operating Income $373,622 $460,515 Cash on Cash 4.02% 4.95%

9 Address RENT ROLL Rent Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1, Arey Drive $1,675 Total $50,025

10 LOCATION MAP SUBJECT PROPERTY Arey Drive (Fractional Condos)

11 REGIONAL MAP SUBJECT PROPERTY Arey Drive (Fractional Condos)

12 SITE MAP

13 DEMOGRAPHICS

14 San Diego Rents Will Continue To Rise, According To USC Rental Forecast BY: Zac Self Source: 2:19 PM, Oct 17, 2018 SAN DIEGO (KGTV) -- A rental forecast outwednesday predicts that San Diego County s affordable housing crisis will worsen through According to the University of Southern California Casden Economics Forecast, even under the best case standard, few units in Southern California are affordable. By 2020, the report forecasts that average monthly rents will increase by $209 in San Diego County, the highest among all Southern California areas. The report predicts that the San Diego will continue to see economic and population growth over the foreseeable future with the economy s leading sectors continuing to draw a variety of workers. The forecast also shows San Diego s popularity among older members of the population, including retirees. As a result, housing demand will continue in both the renter and owneroccupied markets, leading rents to increase as vacancy rates remain low. In 2020, the average rent is predicted to be $2,187 with a 3.75 percent vacancy rate.

REAL ESTATE DEVELOPMENT

REAL ESTATE DEVELOPMENT Exclusive Listing / Multi-family Opportunity 1217 CEDAR AVENUE Long Beach, California / 14 Units OFFERED BY JMSred Table of Contents Property Highlights Property Description Property Location Property