22 UNIT APARTMENTS NEW CONSTRUCTION

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Sibyl Wade
6 years ago
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FOR SALE Russell Hosner One Lincoln Center 10300 SW Greenburg Rd Suite 490

6801 NE Grand Avenue Portland, OR Estimated completion date August 2017

unit Walk score of 82, bike score of 89 For more information, contact: Drew

1 FOR SALE Russell Hosner One Lincoln Center SW Greenburg Rd Suite 490 Portland, Oregon ussell Hosne l Hos 22 UNIT APARTMENTS NEW CONSTRUCTION 6801 NE Grand Avenue Portland, OR Estimated completion date August 2017 Spacious contemporary units Energy efficient appliances and fixtures Laundry in unit Walk score of 82, bike score of 89 For more information, contact: Drew Russell drussell@russellhosner.com Bud Hosner bhosner@russellhosner.com

appliances Air conditioning High-end vinyl plank flooring Full size laundry in each unit Spacious closets Year Built

2 Dekum 1 Apartments Portland, OR PROPERTY HIGHLIGHTS Exterior Private balconies Low maintenance exterior finishes Large, bright windows Secured entry Built by Joseph Hughes Construction Interior Contemporary finishes Stainless steel appliances Air conditioning High-end vinyl plank flooring Full size laundry in each unit Spacious closets Year Built 2017 Laundry Room in unit Lot Size 5000 SF Heating Electric Exterior mixed Hot Water Electric Parking on street Cable TV yes

3 1st Floor Dekum 1 Apartments Portland, OR Typical Floor

Dekum 1 Apartments Portland, OR AREA HIGHLIGHTS AMENITIES 1 2 4 3 Dining Shopping/Entertainment Lifestyle Dekum Apartments 7 18 23 32 8 11 15 16 17 19 20 21 28 33 34 5 22 24 25 26 27 29 12 30 31 9 35

4 Dekum 1 Apartments Portland, OR AREA HIGHLIGHTS AMENITIES Dining Shopping/Entertainment Lifestyle Dekum Apartments Taco Bell 2. Teriyaki Heaven 3. Georgie s Ceramic & Clay 4. Mongolian Grill 5. Sit Stay Fit 6. Classic Foods 7. Double J Tire Center 8. The High Water Mark 9. Firehouse 10. Upcycles 11. Koken Market 12. Oregon Kombucha 13. Woodlawn Coffee & Pastry 14. Breakside Brewery 15. Cafe Eleven 16. Henry V 17. Parr Lumber 18. Starbucks 19. Walgreens 20. Popeyes Lousiana Kitchen 21. Safeway 22. Western Union 23. Bank of America 24. Fish Fusion 25. Wells Fargo 26. Bennie s Little Kicker BBQ 27. Wing s World Chicken & Waffles 28. KFC 29. Subway 30. Boost Mobile 31. Dream Nails 32. US Bank 33. Van s Auto Shop 34. U-Haul 35. Knockout Taco 36. Catalina s 37. Piedmont Station Food Carts

Dekum 1 Apartments Portland, OR SALES COMPARABLES 2 miles 2017

Sale Price Property Type Subtype 1 2 3 4 5 6 7 8 9 10 11 12 13 14

64/Unit) Multifamily Garden/Low-Rise 3916 Sw Corbett Avenue

09/Unit) Multifamily Garden/Low-Rise 8338 N Interstate Avenue

04/Unit) Multifamily Garden/Low-Rise 1250 E Burnside Street

55/Unit) Multifamily Mid/High-Rise 1650 Se Harold Street Portland,

Street Portland, OR 04/29/2016 $6,750,000 ($355,263.

Portland, OR 04/18/2016 $3,700,000 ($308,333.

Portland, OR 04/14/2016 $3,200,000 ($213,333.

Portland, OR 04/13/2016 $14,048,650 ($439,020.

5 Dekum 1 Apartments Portland, OR SALES COMPARABLES 2 miles 2017 Microsoft Corporation 2010 NAVTEQ AND Property Address Sale Date Sale Price Property Type Subtype Nw 19th Avenue Portland, OR 02/01/2017 $20,150,000 ($366,363.64/Unit) Multifamily Garden/Low-Rise 3916 Sw Corbett Avenue Portland, OR 02/01/2017 $15,000,000 ($340,909.09/Unit) Multifamily Garden/Low-Rise 8338 N Interstate Avenue Portland, OR 01/31/2017 $14,000,000 ($245,614.04/Unit) Multifamily Garden/Low-Rise 1250 E Burnside Street Portland, OR 12/09/2016 $39,000,000 ($295,454.55/Unit) Multifamily Mid/High-Rise 1650 Se Harold Street Portland, OR 07/29/2016 $3,500,000 Multifamily Garden/Low-Rise 33 N Beech Street Portland, OR 04/29/2016 $6,750,000 ($355,263.16/Unit) Multifamily Garden/Low-Rise 405 Ne Mason St Portland, OR 04/20/2016 $8,300,000 ($230,555.56/Unit) Multifamily Garden/Low-Rise 3939 Sw View Point Terrace Portland, OR 04/18/2016 $3,700,000 ($308,333.33/Unit) Multifamily Garden/Low-Rise 3225 Ne M L King Boulevard Portland, OR 04/14/2016 $3,200,000 ($213,333.33/Unit) Multifamily Garden/Low-Rise 4216 N Mississippi Avenue Portland, OR 04/13/2016 $14,048,650 ($439,020.31/Unit) Multifamily Garden/Low-Rise 550 Nw 19th Avenue Portland, OR 03/22/2016 $42,500,000 ($416,666.67/Unit) Multifamily Garden/Low-Rise 312 Ne Monroe Street Portland, OR 02/29/2016 $2,850,000 ($237,500/Unit) Multifamily Garden/Low-Rise 446 Ne Simpson Street Portland, OR 02/05/2016 $82,500 Multifamily Garden/Low-Rise 3731 Sw Water Avenue Portland, OR 01/29/2016 $3,000,000 ($250,000/Unit) Multifamily Garden/Low-Rise

6 Dekum 1 Apartments Portland, OR PRO FORMA INCOME AND EXPENSES PRO FORMA INCOME AND EXPENSES SCHEDULED GROSS INCOME Units Type Avg. SF Anticipated Rent per mo Anticipated Annual Total Market Rent per mo Market Annual Total 9 Studio 389 $1,195 $129,060 $1,250 $135, Br/1Ba 465 $1,295 $93,240 $1,325 $95, Br/1Ba 515 $1,395 $50,220 $1,425 $51, Br/1Ba 517 $1,425 $34,200 $1,450 $34,800 2 Live work 600 $1,595 $38,280 $1,650 $39, $345,000 $356,100 OPERATING SUMMARY Anticipated Market Annual Gross Scheduled Income $345,000 $356,100 Less: 5% Vacancy & Credit Loss: ($17,250) ($17,805) Plus: Utility Bill Back: $13,200 $13,200 Plus: Laundry and Misc. Income $500 $500 Effective Gross Income: $341,450 $351,995 Estimated Expenses: Taxes: $22,000 $22,660 Insurance: $2,500 $2,700 Management 8%: $27,316 $28,160 Utilities (est): $18,700 $18,700 Maintenance/Repairs/Supplies (est): $8,536 $10,560 Turnover ($150/unit/yr at 50%): $1,650 $1,650 Incentives & Misc: $1,500 $400 Reserves ($200/unit/yr): $5,500 $5,500 Landscaping: $1,500 $1,500 Total Operating Expenses: $89,202 $91,829 INVESTMENT OFFERING ANALYSIS Asking price: $5,500,000 Down Payment: $2,200,000 New First: $3,300,000 New first mortage at 3.5% 3 year Net Operating Income: Less Debt Service: Pre-Tax Cash Flow: Cash on Cash Return: Current Market $252,248 $260,166 $177,816 $177,816 $74,432 $82, % 3.74% Dekum 1 Apartments 6801 NE Grand Avenue Portland, OR Price: $5,500,000 Per Unit: $4,055 $4,174 Percent of EGI: 26% 26% Net Operating Income: $252,248 $260,166 Asking Price: $5,500,000 $5,500,000 Cap Rate: 4.59% 4.73% Price Per Unit: $250,000 $250,000 Russell Hosner real estate investment services

22 UNIT APARTMENTS NEW CONSTRUCTION

FOR SALE Russell Hosner One Lincoln Center 10300 SW Greenburg Rd Suite 490 Portland, Oregon 97223 ussell Hosne l Hos 22 UNIT APARTMENTS NEW CONSTRUCTION The Carter Apartments 6811 NE Grand Avenue Portland,