Student Housing Package 2901 & 2905 E. Blacklidge, Tucson, AZ & 2916 E. Presidio, Tucson, AZ 85716

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1 Property Features Sale Price $1,820,000 Price per Bed $56,876 Number of Bedrooms 32 Rentable Square Feet 12,796 CAP Rate 6.84% Property Highlights The Blacklidge & Presidio portfolio are luxury student housing developments consisting of 32 total bedrooms across six 2-story individual houses. The portfolio has (2) 5 bedroom-2.5 bath 2,390 SF house, (2) 6 bedroom-3 bath 2,271 SF houses and (2) 5 bedroom- 2 bath 1,737 SF. Located a few blocks form La Madera Park, east of Tucson Blvd and north of Glenn St (University bus route with a bike lane). Campbell Plaza is two blocks to the west on Campbell Ave and Glenn St. The plaza includes Albertsons, Ace Hardware, Ross, Five Guy s Burgers, Panda Express, Rubios, Jamba Juice, Old Chicago Pizza, T-Mobile, Sauce, etc. This house comes with plenty of off street parking. Your best home ever in a great student community to live out your college years. Allan Mendelsberg, Principal Multifamily & Investment Sales amendelsberg@picor.com Daniel Leibsohn Multifamily & Investment Sales dleibsohn@picor.com PICOR Commercial Real Estate Services 5151 E. Broadway Blvd, Suite 115 Tucson, Arizona phone: picor.com same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

2 SUBJECT Downtown Tucson

3 ProForma TYPE # OF UNITS SQ. FT. TOTAL S.F. RENT PER S.F. INCOME STATEMENT MARKETING PROFORMA PROFORMA PER UNIT PROFORMA PSF 2017/18 SY ANNUALIZED RENTAL INCOME Gross Potential Rents $187,752 $5,867 $14.67 Vacancy ($11,265) -6.00% ($0.88) Gross Rent $176,487 $5,515 $13.79 Other Income $5,500 $172 $0.43 $7,017 Utility Reimbursement $28,479 $890 $2.23 $28,479 Net Rental Income $210,466 $6,577 $16.45 $211,776 TOTAL INCOME $210,466 $6,577 $16.45 $211,776 OPERATING EXPENSES Marketing & Promotion $2,000 $63 $0.16 $4,187 Repairs, Maintenance $8,000 $250 $0.63 $10,573 General & Admin $1,280 $40 $0.10 $1,926 Utilities $32,250 $1,008 $2.52 $31,844 Turnover $5,600 $175 $0.44 $5,898 TOTAL VARIABLE $49,130 $1,535 $3.84 $54,428 Property Taxes $19,521 $610 $1.53 $19,521 Property Insurance $2,601 $81 $0.20 $2,601 Management Fee $14, % $1.15 Reserves $1,800 $56 $0.14 TOTAL EXPENSES $85,985 $2,687 $6.72 $76, /2018 SCHOOL YEAR 5 BD/ 2.5 BA 2 2,390 4,780 $1.05 $2,515 6 BD/ 3 BA 2 2,271 4,542 $1.29 $2,928 5 BD/ 2 BA 2 1,737 3,474 $1.37 $2,380 TOTAL/AVG. 32 2,133 12,796 $1.15 $15,646 STABILIZED MARKET VALUATION Value $1,820,000 Per Unit $303,333 Per Bed $56,876 Per Sq. Ft. $ Cap Rate Mktg Proforma 6.84% NET OPERATING INCOME $124,481 $135,226

4 Floor Plan 5-BD/2BA 1,737 SF First Floor Second Floor

5 Floor Plan 5-BD/2.5BA 2,390 SF First Floor Second Floor

6 Floor Plan 6-BD/3BA 2,271 SF Second Floor First Floor

7 Features Property Features 2 Full Baths w/double Vanity Sinks 2 Levels Alarm System Architectural Polished Concrete Floor Balcony Built In Desks Built-In Niches Cox Advanced TV + HBO, On Demand & ROKU Dishwasher Frost-free Refrigerator with Icemaker Full Size Washer/Dryer Garbage Disposal High Ceilings w/ ceiling fans Individual Home Internet Large Spacious Floorplan Lighted Parking Microwave Mirrored Closet Doors Natural Stone Tile/Carpet No Security Deposit (O.A.C.) Pets Welcome Private, Fenced Yard Professionally Maintained Landscaping Prompt Maintenance Recessed Lighting Skylights Stainless Stove w/ Self Cleaning Oven Storage Closet Under Stairs Upper Deck Wall of windows in living/dining area Zoned Heating & A/C

8 Property Photos

9 Blacklidge & Presidio 2901 & 2905 E. Blacklidge 2912 & 2916 E. Presidio Price $1,820,000 Price per Bed $56,875 Price per SF $ Bedrooms 32 Size (SF) 12,796 Year Built 2011 S Sale Date TBD 1 3 rd Avenue Apartments N. 3rd Avenue Price $868,000 Price per Bed $86,800 Price per SF $ Bedrooms 10 Size (SF) 3,474 Year Built 2009 Sale Date July 1, th Street Apartments 1304 E. 10th Street Price $825,000 Price per Bed $91,667 Price per SF $ Bedrooms 9 Size (SF) 2,864 Year Built 2007 Sale Date June 15, Water Street Homes 2550 E. Water Street Price $3,300,000 Price per Bed $73,333 Price per SF $ Bedrooms 45 Size (SF) 15,534 Year Built 2014 Sale Date Sep.18, 2017 Allan Mendelsberg, Principal Multifamily & Investment Sales amendelsberg@picor.com Daniel Leibsohn Multifamily & Investment Sales dleibsohn@picor.com PICOR Commercial Real Estate Services 5151 E. Broadway Blvd, Suite 115 Tucson, Arizona phone: picor.com