Villa s at Walnut Park Residential Rental Portfolio New Construction Attached Homes

Transcription

1 Villa s at Walnut Park Residential Rental Portfolio New Construction Attached Homes 19 Attached Single Family Units Including One 4-Plex, One 7-Plex and an 8-Plex Currently Under Construction John Blom Broker Sales Manager Ginn Realty Group john@ginnrealtygroup.com

2 Table of Contents I. Project Summary & Bulk Listing Details II. III. IV. Map & Location Schools & Community Rental Management V. Financial Information VI. Site Plans VII. Included Floor Plans VIII. Included Features & Finishes Ginn Realty Group Villa s at Walnut Park Rental Portfolio 2

3 I. Project Summary & Portfolio Summary The Villa s at Walnut Park neighborhood consists of a total of 19 homes. This Villa s at Walnut Park Portfolio consists of 19 Residential Units currently under construction in Vancouver, Washington. Vancouver, Washington features one of the fastest appreciating rental markets in the entire nation This turn-key, new construction project is a perfect opportunity for investors. Extra thought and planning was put into the design and construction knowing they would be long-term rentals requiring durable and long lasting features. General Property Information Address: Location: Ownership: Management Company: Project Status: 5809 NE 71 st Avenue Vancouver, WA Conveniently located just West of I-205 and North of SR-500 and South of the I-20/Padden Parkway Intersection in Vancouver, Washington. FG Investments, LLC Ginn Property Management, LLC, which is affiliated with the Seller/Builder. Under Construction Portfolio Summary (see page 9 for details on individual floorplans) Units Offered for Sale: up to 19 units Date built: 2017/2018 Sales Price: $5,250, Annual Net Operating Income: $288, Projected Capitalization Rate (2017): Pro forma 5.50% (Based on projected rents & expenses in surrounding areas) Lease type: To be 12 months or longer leases at market rate No rent controls. Ginn Realty Group Villa s at Walnut Park Rental Portfolio 3

4 II. Map & Location Villa s at Walnut Park is located in the heart of Vancouver, WA just across the Columbia River from Portland, OR. This ideal location benefits from its close proximity to both the Portland International Airport (14 miles away) and downtown Portland (14 miles away) as well as being just blocks away from the Tenants of Villa s at Walnut Park can enjoy the absence of both a state income tax in Washington and a sales tax in Oregon. The Greater Portland/Vancouver metropolitan area is growing as new residents are attracted to a robust local economy and the lifestyle that the Pacific Northwest has to offer. Ginn Realty Group Villa s at Walnut Park Rental Portfolio 4

5 II. Schools & Community Community Information Neighborhood: Shopping: Parks & Recreation: Walnut Grove Costco Safeway Walmart Target Green Meadows Golf Club Royal Oaks Golf Club Orchards Park School Information School District: High School: Middle School: Elementary School: Secondary Education: Vancouver School District Fort Vancouver 5700 E 18 th Street Vancouver, WA Gaiser Middle School 3000 NW 99 th Street Vancouver, WA Walnut Grove Elementary School 6103 NE 72 nd Avenue Vancouver, WA Clark County Skills Center NE 28 th Street Vancouver, WA Clark College 1933 Fort Vancouver Way Vancouver, WA Washington State University Vancouver NE Salmon Creek Avenue Vancouver, WA Ginn Realty Group Villa s at Walnut Park Rental Portfolio 5

6 IV. Rental Management Typical Fees in Clark County for this type of project Monthly Management Fee: 5% of the payable monthly gross receipts from the premises, payable the following month for the duration of the agreement. Set-up Fee per Unit: $50 Lease renewal Evaluation fee: $225 Maintenance Billed at: Security Deposits (To be transferred to new owner) $45.00/hour Approx. 1 month rent or more based on tenant profile. (Credit, rental history, pets, etc) Note: Seller/Builder manages its properties internally through a related entity Ginn Property Management, LLC. Utility Information Tenant is Responsible for All Utilities Ginn Realty Group Villa s at Walnut Park Rental Portfolio 6

7 V. Financial Projected Cap Rate is Approximately 5.50% based on the package See attached spreadsheet detailing the different packages Cap rate is projected at 5.50% Ginn Realty Group Villa s at Walnut Park Rental Portfolio 7

8 Villas at Walnut Park Cap Rate Project Estimated rent ready date June 2018 Unit BD/BA Bath Sq. Ft. Rent MGMT (5%) Taxes Insurance Vacancy Factor (2%) Turnover cost/ Reserves (3%) Misc repairs, maintenance, landscape Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, NOI Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, ADA $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, Unit $ 1, $ $ $ $ $ $ $ 1, ADA $ 1, $ $ $ $ $ $ $ 1, $ 32, $ 1, $ 4, $ $ $ $ $ 24, Annually $ 395, $ 19, $ 51, $ 7, $ 7, $ 11, $ 7, $ 288, List price 19 units $ 5,250, NOI $ 288, Cap Rate 5.50% Tenant pays all utilities

9 VI. Overall Site Plan The Villa s at Walnut Park neighborhood consists of 19 units. One 4-plex, One 7-plex and One 8-plex each featuring two story units. Villa s at Walnut Village Plat/Site Plan: Ginn Realty Group Villa s at Walnut Park Rental Portfolio 8

10 VII. Included Floorplans 1540 Plan Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 13, 14, 15, 16, 17, and 18 Bedrooms: 3 Bathrooms: 2 Full 1 Half Est. Square Feet 1,540 Garage: 1 Car *Actual photos (interior/exterior) of similar homes built are available for each plan by request via Dropbox. Ginn Realty Group Villa s at Walnut Park Rental Portfolio 9

11 1832 ADA Plan Lots 12 and 19 Bedrooms: 3 Bathrooms: 3 Full Est. Square Feet: 1,832 Garage: No *Actual photos (interior/exterior) of similar homes built are available for each plan by request via Dropbox. Ginn Realty Group Villa s at Walnut Park Rental Portfolio 10

12 VIII. Included Features Unit Features & Finishes Design Criteria Great Room Concept Floor Plans with Natural Light Walk-In Closet in the Master Bedroom Fully Wrapped Windows with Enamel Trim Quality Exterior Features Craftsman Front Elevation 7-8 Overhead Garage Steel Door w/garage door Opener 10 Year Warranty Upgraded Du Pont Tyvek Wrap (Brochure Available Upon Request) 30 Year Warranty James Hardi Plank Siding & Trim Boards (Brochure Available Upon Request) 30 Year Warranty IKO Asphalt Shingle Roof Lifetime Warranty Cascade Windows Self Lock w/ Low-E Glass in Almond Color (Brochure Available Upon Request) Concrete Patio (size varies per plan) Galvanized Steel Gutters and Downspouts Fully Fenced Backyard Front Yard Landscape Plumbing Electrical Energy Efficiency 50 Gallon Hot Water Heater Ice Maker Connection in the Kitchen 1 2 Horsepower Garbage Disposal at Kitchen Sink Oil Rubbed Bronze Designer Plumbing Fixtures Central Air Conditioning Copper Electrical Wiring Wiring for TV and Cable in the Great Room and Master Designer Light Package in Oil Rubbed Bronze Abundant Recessed Can Lighting 96% Efficient Electric Furnace Located in Attic Residential Programmable Thermostat w/smart Fan Stainless Steel Frigidaire Appliances Meets All Requirements of Current Model Energy Code Detailed Interior Finishes Ultra-Durable Luxury Vinyl Tile (LVP) Flooring in Entry, Kitchen & Great Room (Brochure Available Upon Request) Tile Floors in Bathrooms and Utility Room Rounded Drywall Corners Craftsman Enamel Painted Trim Package Two Panel Interior Doors Color Coordinated Slab Granite Countertops in Kitchen FHA/VA Approved Carpet Designer Selected Paint Colors to Accent Finishes Sliding Glass Doors to Patio Ginn Realty Group Villa s at Walnut Park Rental Portfolio 11

13 Unit Features & Finishes (continued) Structural Integrity Kitchen Elegance Bathroom Selections Individual Site Inspection on each Building Site Foundation Engineered to Specific Soil Conditions Slab on Grade Flatwork in the Garage Crawl Space Finished with Vents, Mechanical Vents and Vapor Barrier as Required Per Code. 36 High Alder Shaker Cabinets Concealed Cabinet Hinges Polished, Stainless Steel Double Bowl Under-mount Sink Single Handle Stainless Kitchen Faucet w/sprayer Slab Granite Countertops Full Tile Backsplash Pre-Plumbed for Ice Maker Stainless Steel Frigidaire Electric Stainless-Steel Stove, or equivalent Stainless Steel Frigidaire Microwave/Hood above Stove, or equivalent Stainless Steel Frigidaire Dishwasher, or equivalent Stainless Steel Frigidaire Refrigerator, or equivalent Rubbed Oil Bronze Faucets Stand up Shower Insert with Seats Double Vanity in Master Bath Slab Granite Countertops Full Width Vanity Mirrors 36 High Vanities in Master Bath Rubbed Oil Bronze Hardware Glass Shower Doors in Master Bathroom Additional Conveniences Solid Wood Closet Shelving in All Areas (No Wire) Windows with Self-Lock Closing System Integrated Carbon Monoxide and Smoke Detector System Refrigerator Window Coverings 2 Faux Wood Blinds Ginn Realty Group Villa s at Walnut Park Rental Portfolio 12

14 Request Additional Information To request additional information about this opportunity as well as other residential investment opportunities within Southwest Washington, please contact John Blom. John Blom Broker Sales Manager Ginn Realty Group Ginn Realty Group Villa s at Walnut Park Rental Portfolio 13