2 Teson Garden Apartments

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Cory Fowler
5 years ago
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All units have individual gas forced air and central A/C units, washer/ dryer hookups and private storage in basement.

1 2 Teson Garden Apartments Hazelwood all brick 64-unit apartment complex consisting 9 buildings, 40 one-bedroom one-bath units and 24 two-bedroom one and half bath units. All units have individual gas forced air and central A/C units, washer/ dryer hookups and private storage in basement. Grounds include in-ground swimming pool and ample resident parking. Offered for $2,595,000 D AVID V OGES : P RUDENTIAL A DVANTAGE AOL. COM A MULTI -F AMILY O FFERING F ROM D AVID VO GES

Multi Family 5+ Agent Standard Report ML#: 774542 AD: 2 Teson Garden Hazelwood 63042 Area: 48 Active LP: $2,595,000 Agent ID: SMVOGESBC: PRAD02 Brkr: Prudential Advantage, REALTORS Ph: 314-962-1100

2 Multi Family 5+ Agent Standard Report ML#: AD: 2 Teson Garden Hazelwood Area: 48 Active LP: $2,595,000 Agent ID: SMVOGESBC: PRAD02 Brkr: Prudential Advantage, REALTORS Ph: Tax Juris: STLCO TI#: 08L DA: NTran: S Subdiv: St. Ferdinand Common Fields MC: R07-08 Taxes/Yr: / EL: HAZELWOOD JR: HAZELWOOD SR: HAZELWOOD Agrmt Type: XR / NOTA SA: 1.5 BA: 1.5 TA: NO AF$: / None Description Type: Apartment Complex Location: City Total Units: 64 Const: Brick Veneer Predom Age:+/- 44 Bld Style: Low/1-2 #Bldgs: 12 #Units Baths Unit Includes Efficiency 1 Bdrms 40 1 Per Unit 2 Bdrms /2 Per Unit 3 Bdrms BldgParking: Parking Lot/Off Strt, Not Assigned Dishwasher, Eat-In Kitchen, Living/Great Room, Refrigerator, Range/Oven Dishwasher, Eat-In Kitchen, Living/Great Room, Refrigerator, Range/Oven LS:+/- 505X299 Dir: NORTH OF 270 ON MC DONNELL BLVD WHICH BECOMES HOWDERSHELL ROAD, LEFT ON TESON TO COMPLEX. Typical Rent Rem: NEW PRICE!!! BACK ON THE MARKET... Best Buy in North County!! This Hazelwood apartment complex consists of 9 buildings, 40 1-bedroom, 1-bath units and 24 2-bedroom, 1-bath units. Tons of green space, fenced in-ground pool and tons of parking. Second floor units have beautiful vaulted ceilings. All new roofs in Newer appliances, a/c units and water heaters. Individual private storage and washer/dryer hookups in basement. Rents are below market, which are $500 for 1-bedroom units, and $600 for 2-bedroom units. Agt Rem: PLEASE DO NOT DISTURB TENANTS - CALL DAVID VOGES FOR ADDITIONAL INFORMATION AND APPOINTMENTS TO VIEW PROPERTY Room Dimensions & Additional Information Unit#1: Liv Rm: Great Rm: DinRm: Kitch: Break: Fam Rm: 1st Br: 2ndBr: 3rdBr: 4thBr: Lnd: Unit#2: Liv Rm: Great Rm: DinRm: Kitch: Break: Fam Rm: 1st Br: 2ndBr: 3rdBr: 4thBr: Lnd: Bldg Ext Amen: In Ground Pool Laundry: Prvt Laund some unit Bldg Int Amen: Bldg Unit Info: Smoke/Alarm Detector Tenancy: Tenancy Pays: Electric, Gas Sale Includes: Building & Land Bldg Fin Info: Insurance, Maintenance/Repairs Discl: Code Compliance Reqd Cond: Unknown Utilities Cooling: Central-Electric Sewer: Public Heating: Forced Air Water: Public Source: Gas Cable Avl: Yes Wtr Heater: Gas Financial Information 1st Assumable: No Assumption Bal: Payment: Payment Inc: Years Remain: Assump Int Rate: Assump Fee: 2nd Morgage: Equity: 0 Gross Oper Inc: $347,386 Expenses: $151,783 Net Income: $195,199 Existing Loan: Orig List Price: 3,200,000 Selling Terms: Cash, Conventional Entry Date: 10/29/07 Office information Agent Name: Mike Voges Contact Phones: Primary: Secondary: Addr: mikevoges@aol.com Fax: Ownr Name: Owner Phone: Occup Name: Phone To Show: List Assoc#: Possession:Tenants Rights Licensee Assist'g Seller: Designated Agent Ad Code: Show: Listg Agt Accompany, By Appointment Only, Don't Disturb Ten'ts CDOM: 307 #BR: #GL: Presented By: Peter Vishion/ Prudential Advantage, REALTORS All information herein has not been verified and is not guaranteed. Copyright 2008 Rapattoni Corporation. All rights reserved.

3 2 Teson Garden Walk St. Louis, MO Income Current Rent Proforma Proforma at Market Rent $500 and Rent roll 12/22/08 $600 $361,860 $412,800 Less: 4% Vacancy $14,474 $16,512 Total $347,386 $396,288 Expense Advertising $2,796 $2,796 * Insurance $14,900 $14,900 Legal and Accounting $3,498 $3,498 General Maintenance $25,063 $25,063 ** Real Estate Taxes $40,635 $40,635 Water $7,770 $7,770 Sewer $8,947 $8,947 Trash $5,645 $4,000 Gas $652 $652 Electric $4,372 $4,372 Phone $2,644 $2,644 Reserve $250/unit $16,000 $16,000 Manager $18,000 $18,000 Total $150,922 $149,277 Net Income $196,464 $247,011 Debt Service $152,982 $152,982 $2,076,000 (80% 25 Year 5.5%) Cash Flow $43,482 $94,029 Cash on cash 8.38% 18.12% $519,000 * New insurance bid from Columbia Insurance for is $14,900 ** New tax $2,595,000 sale price vs. current assessed value of $3,029,500 List Price $2,595,000

4 TESON GARDENS Updated 12/22/08 Unit Number Lease Exp. Bedrooms Current Rent Market Rent Deposit 2A 12/31/08 1BR $450 $500 $450 2B 1/31/09 1BR $390 $500 $200 2C 8/31/09 1BR $450 $500 $675 2D office 1BR $465 $500 $0 2E 10/31/09 1BR $450 $500 $430 2F 2/28/09 1BR $415 $500 $300 2G 8/31/09 1BR $450 $500 $450 2H m/m 1BR $415 $500 $0 5A 1/31/09 1BR $445 $500 $400 5B m/m 1BR $465 $500 $350 5C 4/30/09 1BR $420 $500 $650 5D 1/31/09 1BR $425 $500 $415 5E m/m 1BR $455 $500 $415 5F m/m 1BR $425 $500 $320 5G 6/30/09 1BR $420 $500 $375 5H 5/31/09 1BR $450 $500 $450 8A m/m 1BR $430 $500 $320 8B 8/31/09 1BR $420 $500 $400 8C 12/31/08 1BR $415 $500 $770 8D 5/31/09 1BR $425 $500 $400 8E 7/31/09 1BR $405 $500 $320 8F 3/31/09 1BR $410 $500 $320 8G 4/30/09 1BR $450 $500 $450 8H 8/31/09 1BR $430 $500 $415 15A vacant 1BR $465 $500 $385 15B 11/30/09 1BR $435 $500 $375 15C 9/30/09 1BR $445 $500 $430 15D 5/31/09 1BR $410 $500 $580 15E m/m 1BR $445 $500 $375 15F 4/30/09 1BR $415 $500 $375 15G 4/30/09 1BR $450 $500 $450 15H 8/31/09 1BR $450 $500 $450 16A 11/30/09 1BR $465 $500 $465 16B 9/30/09 1BR $420 $500 $320 16C 9/30/09 1BR $420 $500 $0 16D 4/30/09 1BR $415 $500 $415 16E m/m 1BR $460 $500 $400 16F m/m 1BR $430 $500 $600 16G vacant 1BR $465 $500 $0 16H 3/31/09 1BR $450 $500 $450 23A 9/30/09 2BR $525 $600 $475 23B 2/28/09 2BR $550 $600 $550

5 23C 1/31/09 2BR $495 $600 $495 23D 7/31/09 2BR $550 $600 $550 31A 9/30/09 2BR $565 $600 $565 31B 1/31/09 2BR $510 $600 $675 31C 6/30/09 2BR $495 $600 $920 31D 9/30/09 2BR $545 $600 $540 39A 6/30/09 2BR $525 $600 $800 39B 3/31/09 2BR $520 $600 $1,000 39C m/m 2BR $500 $600 $475 39D 9/30/09 2BR $565 $600 $550 45A m/m 2BR $520 $600 $410 45B 4/30/09 2BR $535 $600 $465 45C 10/31/09 2BR $515 $600 $790 45D 3/31/09 2BR $515 $600 $475 49A 12/31/09 2BR $515 $600 $500 49B 5/31/09 2BR $520 $600 $475 49C 5/31/09 2BR $565 $600 $485 49D 1/31/09 2BR $495 $600 $495 54A 5/31/09 2BR $520 $600 $500 54B 10/31/09 2BR $565 $600 $500 54C m/m 2BR $550 $600 $520 54D 10/31/09 2BR $565 $600 $0 monthly income $30,140 $34,400 $28,555 yearly income $361,680 $412,800

6 Teson Gardens Capital Expenditures for Air Conditioners (33 units) $26,489 Appliances Stoves (40 stoves) $13,897 Refrigerators (27 fridges) $11,636 Furances (28 units) $26,924 Hot Water Heaters (19 units) $7,480 Asphalt Replacement $31,352 Pool Renovation $20,167 New Roofs $21,012 Office Renovation $7,500 Total Capital Expenses $166,457

7 Hazelwood Area Apartmental Rent Comps 10/5/08 Teson Garden Walk Apartments (Subject) 1 BR, 1 BA 620 $465 $ BR, 1.5 BA 750 $565 $0.75 Knollwood Apartments 1 BR, 1 BA Sqft Rent Rent/Sqft 2 BR, 1 BA Sqft Rent Rent/Sqft A 555 $515 $0.93 E 808 $635 $0.79 B 587 $535 $0.91 F 851 $650 $0.76 C 621 $540 $0.87 G 855 $675 $0.79 D 659 $560 $0.85 H 899 $680 $0.76 River Chase Apartments 1 BR, 1 BA Sqft Rent Rent/Sqft 2 BR, 1 BA Sqft Rent Rent/Sqft Manchester 620 $534 $0.86 Chesterfield 742 $594 $0.80 Brentwood 650 $544 $0.84 Kirkwood 783 $634 $0.81 Chez Orleans Sqft Rent Rent/Sqft 2 BR, 1 BA Sqft Rent Rent/Sqft 1 BR, 1 BA 600 $500 $ $600 $0.67 Dunwood Acres Apartments 1 BR, 1 BA 630 $490 $ BR, 1 BA 750 $545 $0.73 Chez Paree 1 BR, 1 BA 770 $570 $ BR, 1 BA 844 $640 $0.76 Parkwood Place 1 BR, 1 BA 700 $535 $ BR, 1 BA 825 $635 $0.77 Village Square 1 BR, 1 BA 650 $455 $ BR, 1 BA 750 $605 $0.81 French Quarter 1 BR, 1 BA 756 $603 $ BR, 1 BA 915 $700 $0.77 Hazelwood Forest 1 BR, 1 BA 725 $550 $ BR, 1 BA 870 $660 $0.76 Bridgeport Crossing 1 BR, 1 BA 610 $555 $ BR, 1 BA 850 $725 $0.85 Cedar Trace 1 BR, 1 BA 688 $620 $ BR, 1 BA 901 $710 $0.79 Average $0.83 $0.77

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ROOM DIMENSIONS FLOOR ROOM DIMENSIONS FLOOR Page 1 of 7 R3076527 Active Customer w/gallery 87c Long Beach Blvd., Long Beach Twp, NJ 08008 Docs List Price: $2,649,000 County: Ocean Municipality: Long Beach Twp Section: Loveladies Subdiv: Block: 20.97