at Georgetown THE RAIL Elegant Apartment Living

Transcription

1 THE RAIL at Georgetown Elegant Apartment Living KET Enterprises Incorporated 4295 San Felipe, Suite 355 Houston, TX Houston Income Properties 6363 Woodway Suite 370 Houston, Texas

2 The Rail at Georgetown Apartment Homes The Rail at Georgetown 708 W. 15th St. Georgetown, TX W. 15th St., Georgetown, TX A P A R T M E N T S F O R S A L E TO BE DETERMINED BY MARKET Units: 113 Avg Size: 423 Date Built: 1986 Rentable Sq. Ft.: 47,800 Acreage: 4.87 Occupancy 97% Class: B+ INVESTMENT HIGHLIGHTS Value Add Investment with Completion of Interior Rehab $868K Spent to Date on Interior and Exterior Rehab Excellent Freeway Access 30 Minutes From Downtown Austin Heavily Wooded Site Located a Block from the San Gabriel River Lack of Supply in Georgetown Driving Rental Demand Near Several Major Employers, Shops and Restaurants Strong Rental Market Located 1.3 Miles from Southwestern University, and St. David's Georgetown Hospital Easy Access to I-35, Round Rock and Austin 55 Units Have Been Fully Rehabbed FOR MORE INFORMATION PLEASE CONTACT: Tom Wilkinson KET Enterprises Incorporated 4295 San Felipe, Suite 355 Houston, TX twilk4@ketent.com Jim Hurd Houston Income Properties 6363 Woodway Suite 370 Houston, Texas jhurd@houstonincomeproperties.com

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4 Physical Information Financial Information Projected Loan Information Operating Information Number of Units 113 Asking Price: MARKET Mortgage Balance #VALUE! Est Mkt Rent (Oct-18) $101,940 Avg Unit Size 423 Amortization (Months) Mo Avg $103,154 Net Rentable Area 47,800 Debt Service #VALUE! Est Physical Occ (Dec-18) 97% Land Area (Acres) Units per Acre Date Built Monthly Interest Payment Interest Rate Type #VALUE! 5.00% Est Ins per Unit per Yr Property Tax Information 2018 Tax Rate/$100 $ Water Meter Elec Meter RUBS Indiv Date Due Est Res for Repl/Unit/Yr 10 yr $ Assessment Est 2018 Taxes $4,153,170 $95,026 Roof Style Pitched Monthly Escrow yes Est FutureTax Assessment $4,153,170 HVAC System HVAC-Indiv Est Future Taxes $95,026 INCOME PRO-FORMA INCOME Current Street Rent with a 5% Increase 1,284,444 $107,037 / Mo Estimated Gross Scheduled Income 1,284,444 $107,037 / Mo Estimated Loss to Lease (2% of Total Street Rent) (25,689) 2% Estimated Vacancy (4% of Total Street Rent) Estimated Concessions and Other Rental Losses (4% of Total Street Rent) (51,378) 4% (51,378) 4% Estimated Utilities Income (electricity, water/sewer, & trash) Estimated Other Income 44,454 33,020 $393 / Unit / Yr $292 / SqFt / Yr Estimated Total Rental Income ESTIMATED TOTAL PRO-FORMA INCOME 1,233,474 1,233,474 $102,790 / Mo 3 Mo Avg Income Annualized Fixed Expenses Fixed Expenses Estimated Fixed Expenses Taxes $95,026 $841 per Unit 2018 Tax Statement $95,026 $841 per Unit 2018 Tax Rate & Future Assessment Insurance $20,036 $177 per Unit $20,036 $177 per Unit Gas Trash Removal Telephone Cable & Internet Water & Sewer Estimated $1,018 per Unit $1,018 per Unit Utilities Utilities Estimated Utilities Electricity $17,323 $153 per Unit $19,056 $169 per Unit Total Utilities 107,360 $950 per Unit 113,731 $1,006 per Unit Other Expenses Other Expenses Estimated Other Expenses General & Admin & Marketing Repairs & Maintenance Labor Costs Contract Services Management Fees $60,208 $51,342 $103,455 $0 $29,657 $533 per Unit $454 per Unit $916 per Unit $ per Unit 2.40% $262 per Unit $60,208 $51,342 $113,000 $0 $37,004 $533 per Unit $454 per Unit $1,000 per Unit $ per Unit 3.00% $327 per Unit Total Other Expense 244,662 $2,165 per Unit 261,555 $2,315 per Unit Total Operating Expense 467,083 $4,133 per Unit 490,347 $4,339 per Unit Reserve for Replacement 33,900 $300 per Unit 33,900 $300 per Unit Total Expense 500,983 $4,433 per Unit 524,247 $4,639 per Unit Stabilized Net Operating Income 736, ,227 Valuation Cap Rate Proposed Debt Equity Estimated Debt Service Cash Flow Cash on Cash MODIFIED ACTUALS $1,237,851 EXPENSE Jan '18 thru Dec '18 Expenses 12/18 Trailing Operating Statement Estimated Future Expenses Total Fixed Expense 115, ,062 $0 $ per Unit $0 $ per Unit $14,753 $131 per Unit $14,753 $131 per Unit $28,903 $256 per Unit $28,903 $256 per Unit $46,381 $410 per Unit $51,019 $451 per Unit #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! , ,227 #VALUE! #VALUE! NOTES: ACTUALS: Income and Expenses calculated using owner's 12/18 Trailing Operating Statement. Taxes are based on the 2018 Tax Statement. PRO FORMA: Income is Pro Forma as Noted. Taxes were calculated using 2018 Tax Rate & Future Assessment. Insurance is estimated. Management Fees calculated as 3.00% of Gross Income, Other expenses are Estimated for the Pro Forma. MARKET PRO-FORMA MARKET * per unit -; per ft - DISCLAIMER: The information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt the accuracy of the information, but we have not verified it and make no guaranty, warranty or representation about it. It is your resonsibility to independently confirm its accuracy and completeness. We have not determined whether the property complies with deed restrictions or any city licensing or ordinances including life safety compliance or if the property lies within a flood plain. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME OR EXPENSE AND PERFORM OR HAVE PERFORMED ANY INSPECTIONS TO VERIFY POSSIBLE CONTAMINATION BY ASBESTOS, LEAD PAINT, MOLD OR ANY OTHER HAZARDOUS SUBSTANCES. The owner reserves the right to withdraw this listing or change the price at anytime without notice during the marketing period. 1/21/2019 TheRail - Georgetown

5 PROPERTY INFORMATION Age: 1986 Mortgage Balance Renovated: 2018 Lender Property Overview Elec Meter: Indiv Amortization City of Georgetown $ A/C Type: HVAC P & I Georgetown ISD $ Water: RUBS Type Williamson County $ Wiring: Copper Assumable Williamson County FM/RD $ Roof: Pitched Monthly Escrow Paving: Asphalt Origination Date Materials: Brick/Wood Due Date # of Stories: 2 Interest Rate Buildings: 26 Yield Maintenance 2018 Tax Rate/$100 $ Parking: Surface Transfer Fee 2018 Assessment $4,153,170 Units/Acre: CURRENT MORTGAGE COLLECTIONS Jan 2018 $ 50,992 Feb 2018 $ 58, Mo Avg $83,613 Mar 2018 $ 74,267 Apr 2018 $ 77,731 9 Mo Avg $91,023 May 2018 $ 75,531 Jun 2018 $ 84,132 6 Mo Avg $96,968 Jul 2018 $ 86,222 Aug 2018 $ 92,918 3 Mo Avg $103,154 Sep 2018 $ 93,207 Oct 2018 $ 101,192 Total $1,003,359 Nov 2018 $ 100,941 Dec 2018 $ 107,329 PLEASE DO NOT VISIT THE SITE WITHOUT AN APPOINTMENT MADE THROUGH THE BROKER. TAXING AUTHORITY Williamson County Property ID: R042684; R041110; R PROPERTY HIGHLIGHTS The Rail is a 113 units apartment property located just 1 block from the beautiful San Gabriel river. The asset was built in The property has undergone interior and exterior rehab. $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $- The Rail at Georgetown is next to beautiful Kelley Park and just blocks from the town square, grocery stores, shopping and entertainment. The property consists of one and two bedroom apartment homes with unique floor plans designed to provide easy living through maximum efficiency, and small building groups make parking that's just steps to the front door. Residents benefit from options like valet trash, and in-unit washer/dryer. Pets are welcome and there is a Rail Yard Bark Park! The community is within close proximity to a GoGeo transit stop, 1.3 miles from Southwestern University, with easy access to Interstate 35, Round Rock, The Domain, and Downtown Austin. The owner could add 2 more units (thereby bringing unit mix to 113) by moving the office to the railway car and putting the laundry room in the store room, thus increasing collections. Per owner, 55 units have received a total rehab, of which 42 are 1 BR-1 BA and 13 are 2 BR-1 BA and 2 units, 1 BR-1 BA, have been partially rehabbed. Current owner is only remodeling units begun the the previous owner as they become vacant. Several buildings have also received new siding and paint. Property appears to have 8 year old roofs. PLease verify! Per owner, renovated units lease for $900.00, while traditional units lease for $ There is an additional $10/month charge for the property protection plan (PPP). PPP is a Property Protection Plan that is offered to residents as an easy alternative to renters insurance. PPP provides $5K of reimbursement protection in case of fire only. Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent roll, etc. provided by the Owner. Notwithstanding, KET Enterprises Incorporated does not make any warranties about the information contained in this marketing package. Every prospective purchaser should verify the information and rely on his accountants or attorneys for legal and tax advice. This offer is As-Is, Where-Is. Answers to specific inquiries will have to be supplied by the Owner and are available upon request. Rates of return vary daily. No representations are made concerning environmental issues, if any.

6 Property Address Yr Built Units Impr Sq.Ft. Impr Value Impr Value/Unit Impr Value/Sq.Ft. 1 Georgetown Park 209 Luther Dr ,798 $8,851,378 $55,321 $83.66 R048016; R North 302 Apple Creek Dr ,252 $10,230,756 $58,129 $77.95 R Oaks at Georgetown 550 W. 22nd St ,032 $8,236,888 $42,900 $47.88 R Indian Creek 600 Luther Dr ,344 $10,636,242 $44,318 $49.85 R Westwood Townhomes 200 Riverbend ,710 $7,658,053 $69,619 $59.04 R The Rail 708 W 15th St ,800 $4,153,170 $36,754 $86.89 R042684; R041110; R KET RENT COMPARABLE TAX ANALYSIS Averages ,323 $8,294,415 $51,173 $67.55 KET Enterprises Incorporated I 4295 San Felipe, Suite 355 I Houston, TX I I

7 2018 KET RENT COMPARABLE TAX ANALYSIS KET Enterprises Incorporated I 4295 San Felipe, Suite 355 I Houston, TX I I

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10 Community Amenities Unit Amenities Full Kitchen Appliances House Keeping Services Heat/Air Conditioning On-Site 24 Hour Maintenance Stackable Washer/Dryer Available for Rent* Package Receiving Window Coverings Clothes Care Facility Ceiling Fans Courtyard View Dishwasher* Fire Pit Conversation Area Garbage Disposal* Outdoor Barbeque Microwave Next Door to Kelley Park Refrigerator Perimeter Fence Faux Wood Flooring Walk-In Closets Amenities *In Select Units CAPITAL EXPENDITURES 05/2014 THRU 05/2017 Approximately 60+ new water heaters $45,000 All units have new flooring $79,100 New ceiling fans for all units $20,315 New outlets and switches for all units $7,500 Six new exterior signs $49,000 New exterior windows in approximately 60% of units $24,350 Approximately 34 new complete HVAC systems 410A $54,400 New appliances to black/stainless $66,500 New light fixtures, knobs and locks $15,263 Upgraded all electrical boxes to GE $16,950 All new interior doors $33,900 New gazebo $40,000 All new LED lighting for exterior of buildings $3,250 All 4 dumpsters has stone enclosures with gates $15,000 Sprinkler system updated with low-flow sprinkler heads $3,500 All units have new shust offs and water lines in kitchen and bath $11,300 Added curbs to parking lots $32,750 Kitchen remodels (41) cabinets, granite countertops $61,500 Bath remodels with laundry connections (21) $12,600 TOTAL CAPEX 05/2014 THRU 05/2017 $592,178

11 Unit Mix UNIT MIX Type Description No. Units Sq Ft Total SqFt Market Rent Total Rent Rent/SF Studio 1 Bed/1 Bath ,400 $875 $62,125 $2.19 Studio 1 Bed/1 Bath ,800 $875 $23,625 $2.19 1B 2 Bed/1 Bath ,800 $1,111 $14,440 $1.85 Laundry* $875 $875 $2.19 Office* $875 $875 $2.19 *Laundry can be moved to the shop area and Office can be moved to the railroad car. Rentable Units TOTALS AND AVERAGES Owner's Rent Roll ,800 $902 $101,940 $2.13 Total Units Average Sq. Ft. Total Sq. Feet Average Rent/Unit Total Rent Average Rent/ SF Unit Type 12% 88% 1 Bed/1 Bath 2 Bed/1 Bath Unit Size Bed/1 Bath 2 Bed/1 Bath

12 One Bedrom / One Bath 400 Sq. Ft.

13 One Bedrom / One Bath 400 Sq. Ft.

14 The Rail at Georg Two Bedrom / One Bath 600 Sq. Ft.

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16 710 West 13th St. 700 West 14th St. 708 West 15th St. 710 West 13th St. 8 buildings 1 bedroom / 1 bath units 700 West 14th St. 1 building 2 bedroom / 1 bath units 708 West 15th St. 17 buildings 1 bedroom / 1 bath units

17 Rent Comparables (Enriched Data) Rent Comparables Property Name Year Built Occ #Units Avg SF Avg Rent P/SF Georgetown Park 209 Luther Dr % $ North 302 Apple Creek Dr % $ Rivery Park 1400 Rivery Blvd % $1, Hillstone at Wolf Ranch 2300 Wolf Ranch Parkway % $1, Two Rivers 105 North Austin Ave % $1, Totals/Averages Comps % $1,151 $1.46 Rail at Georgetown 708 W 15th St % $902 $2.13 Georgetown Market Averages 94% 2, $994 $1.185 Austin Market Averages 92% 174, $1,100 $

18 A U S T I N The Austin market has been listed by Forbes Magazine as the number 1 place in the country in terms of job growth as well as many other factors. The strong job growth coupled with all other factors troubling the economy has set Austin apart from the rest of the country when it come to a continued strong apartment market. QUALITY OF LIFE The quality of life in Austin is second to none. There continues to be an influx of over 68,000 people per year moving to Austin to enjoy Austin's hot job market, strong local economy, but most importantly Austin's quality of life. Whether single and getting into the job market, or raising a family, there is something for everyone in Austin. The Austin MSA is among the Least Stressed Cities in the U.S. - Good health, low crime and relatively low unemployment has placed Austin as the fifth least stressed metro area in the U.S. Portfolio.com and bizjournals created a 10-part formula to estimate the stress levels in the nation's 50 biggest metros, using the latest data available from several government agencies and private firms. The variables assessed included unemployment, income growth, poverty, deaths, from circulatory system diseases, sunshine, unhealthy air, crime, commuting and housing costs. The Austin market has been listed by Forbes Magazine as the Number 1 place in the country in terms of job growth. Austin The Austin MSA was named top U.S. Entrepreneurial Center by Entrepreneur Magazine whoc identifies the top creative cities. Austin topped the "creative centers" group and is noted as the nation's most progressive and proactive entrepreneurial centers. Startups abound in all key industry sectors of technology innovation like gaming, software, mobile, clean tech and life sciences. In the regional hotbed of innovation, startups are embraced, encouraged and proliferative. In fact, Angel List catalogues over 487 regional startups and the region is one of the top Venture Capital investment spots in the country. The Central Texas Angel Network has been named one of the top five angel networks in the country. Austin is home to the largest entrepreneurial gathering in the world at the South by Southwest Music convestion held in March every year. Austin's business climate includes globally respected educational and research institutions and a young, educatead workforce. The Chamber connects experienced, out of market talent with Central Texas employers through Austin Tech source.com, a technology talent web portal designed to recruit and retain a skilled workforce to the Austin area. The following lists some of the notable corporate relocations or expansions in Austin: Visa Inc. selected Austin for its Global IT Center which created in excess of 750 permanent jobs with an investment of $27.3 million. HID Global, a leader in security identiy solutions, selected Austing creating 276 jobs, with an investment of $36 million. Samsung proceeded with a $4 billion investment, the largest investment in Texas by a foreign company. Apple Inc. expanded creating 3,635 jobs with an investment of $282,500,000. US Farathane, a manufacturer of injection molded components expanded creating 228 jobs with an investment of $26,900,000. Austin MSA, Austin will create 20,000 jobs during 2017 increasing employment 2%. Last year 23,400 jobs were created. Per multiple Business Facilities Metro Rankings, Austin is rated: No. 1 for quality of life. No. 1 for Renewable Energy Availability No. 2 Among the Greenest Metros in the United States Austin MSA is ranked No. 1 on Kiplinger's list of the "Best Cities for the next decade" citing Austin as a locale that specializes in innovative thinking. Austin MSA ranks #19 in the Top 100 cities of the Global Innovation Economy. Austin is the 44th city globally and 7th nationally with cultural assets, human infrastructure and networked markets of a competitive and innovative economy. The greater Austin region is home to 4,000 technology companies developing and delivering thousands of cutting edge technologies throughout the world. Collectively these companies employ approximately 103,000 Central Texas residents, constituting approximately 13% of the regional work force base. Their wages and payroll constitute 25% of the regional total - over $9 billion. Clearly technology drives the Austin economy. The Advisory Board company, a software development company, expanded creating 239 jobs with an investment of $8 million. Ebay expanded to Austin creating 1,000 jobs with an investment of $5 million. Household Formation Favors Renting in Austin, Keeps Apartment Vacancy Historically Low Rising home prices and robust housing demand will support healthy renter household formation. Home price appreciation occurred at a record pace for the past four years, outpacing both rent and income growth. Renting has become the more affordable option, particularly in urban areas of the metro, driving strong absorption trends during a period of record building, keeping vacancy low. To address this demand, completions will remain elevated this year, though they will dip slightly from last year s record level. Even though the market s total employment annual growth will slow, residents moving to the metro coupled with graduates entering the job market will keep demand for housing robust. The ability of many to purchase their first home in the market will be low as prices in desired neighborhoods climb out of reach. The tightening of the housing market will have many of these new households favoring apartments over homeownership in the coming months. Vacancy will stay below 5 percent and generate healthy rent gains across the market during Source: Marcus & Millichap Apartment Research Market Report April 2017

19 Dell, Inc. (13,000) Clinical Pathology Laboratories (545) National Instruments (7,400) Texas Guaranteed Student Loan (485) IBM Corp. (7,000) LegalZoom (468) Round Rock ISD (6,300) Amazon (450) Leander ISD (5,000) Field Asset Services (440) Apple (4,450) National Oilwell Varco (429) Applied Materials (3,725) Hewlett-Packard (423) Flextronics (2,550) Volusion (370) Whole Foods Market (1,995) Michael Angelo's Gourmet Food (370) Charles Schwab (1,875) Texas Association of School Boards (370) Austin Regional Clinic (1,750) D&W Painting, Inc. (350) AECOM (1,575) AT&T Testing Labs (300) 3M (1,550) BMC Select, Inc. (275) Sears Teleserv (1,500) ETS-Lindgren (270) Hospira (1,450) Keller Williams Realty (256) Oracle Corp. (1,400) CoreSlab Structures (250) ebay/paypal (1,050) AREA MAJOR EMPLOYERS (Number of Employees) Companies in Bold Indicate Headquarters United Teachers Association, Inc. (240) Accenture (1,000) Golfsmith (225) HomeAway (990) Planview Inc. (210) Q2 (875) Baker Drywall (200) Emerson Process Management (875) M E Ruby Jr, Inc. (200) Cypress Semiconductor (860) Firefly Space Systems (150) Cisco Systems (815) Marwen and Son, LLC (150) Visa (800) Native Land Design (140) Electronic Arts (750) Defense Contract Services, Inc. (138) Scott and White Healthcare (750) Fallbrook Technologies (110) Harte-Hanks (735) Builder Homesite, Inc. (100) St. David's Round Rock Medical Center (689) Dennis Steel, Inc. (100) Blizzard Entertainment (675) Texas Quarries (100) City of Cedar Park (609) Dana Cedar Park Technology Center (80) Cedar Park Regional Medical Center (600) Flame Tech (75) Liquidation Channel (600) Austin Wood Recycling (70) Bazaarvoice (567) 3PS Headquarters (50) Austin

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21 Demographics 1 Mile Radius 2 Mile Radius 3 Mile Radius SUMMARY PROFILE Census, 2018 Estimates with 20223Projections Calculated using Weighted Block Centroid from Block Groups The Rail at Georgetown 708 W. 15th St. Georgetown, TX Ethnicity - 1 Mile Radius 2018 Estimated Population 9,369 26,405 44, Projected Population 11,019 31,224 52, Census Population 7,483 19,970 31,089 POPULATION 2000 Census Population 6,598 16,569 23,933 Projected Annual Growth 2018 to % 3.7% 3.7% Historical Annual Growth 2000 to % 3.3% 4.7% 2018 Median Age % 45% White Black Asian Other Hispanic EDUCATION BUSINESS INCOME RACE AND ETHNICITY HOUSEHOLDS (AGE 25+) 2018 Estimated Households 2,929 8,525 14, Projected Households 3,340 9,670 16, Census Households 2,479 6,706 10, Census Households 2,076 5,335 8,016 Projected Annual Growth 2018 to % 2.7% 2.7% Historical Annual Growth 2000 to % 3.3% 4.5% 2018 Estimated White 71.7% 78.4% 79.1% 2018 Estimated Black or African American 9.9% 6.6% 6.2% 2018 Estimated Asian or Pacific Islander 1.6% 2.2% 2.6% 2018 Estimated American Indian or Native Alaskan 0.6% 0.6% 0.6% 2018 Estimated Other Races 16.3% 12.2% 11.4% 2018 Estimated Hispanic 36.6% 29.7% 27.9% 2018 Estimated Average Household Income $66,371 $82,414 $82, Estimated Median Household Income $52,572 $68,461 $69, Estimated Per Capita Income $22,970 $27,550 $27, Estimated Elementary (Grade Level 0 to 8) 9.5% 6.6% 5.4% 2018 Estimated Some High School (Grade Level 9 to 11) 8.7% 6.8% 6.5% 2018 Estimated High School Graduate 30.4% 25.4% 24.9% 2018 Estimated Some College 19.2% 20.9% 21.7% 2018 Estimated Associates Degree Only 6.9% 8.0% 8.5% 2018 Estimated Bachelors Degree Only 17.0% 22.4% 23.1% 2018 Estimated Graduate Degree 8.3% 9.9% 9.8% 2018 Estimated Total Businesses 939 1,499 1, Estimated Total Employees 9,975 16,344 19, Estimated Employee Population per Business Estimated Residential Population per Business % 6% 1% 37% Non-Hispanic Hispanic 63% Average Income Subject - 1 Mile Radius $120,000 $102,418 $100,000 $80,000 $66,371 $60,000 $40,000 $20,000 $0 Subject Austin

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25 2727 The Rail Brazos at Lofts Georgetown 2727 Brazos apartment homes D I S C L A I M E R & N O N-E N D O R S E M E N T N O T I C E Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent rolls, etc. However, we (KET Enterprises Incorporated and Houston Income Properties, Inc. or any of the owners or officers, directors, employees, agents or representatives of any such entities) have not verified its accuracy and make no guarantee or representation about it. It is submitted subject to the possibility of errors, omissions, change of rental or other conditions. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. We make no representations or warranties, expressed or implied, as to the validity, accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a representation, warranty or promise by any such parties as to the future performance of the Property or any other matters set forth herein. You and your tax and legal advisors should verify the information and rely on his accountants or attorneys for legal and tax advice. Rates of return vary daily. No representations are made concerning environmental issues, if any. Non-Endorsement Notice: KET Enterprises Incorporated nor Houston Income Properties, Inc. is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by KET Enterprises Incorporated or Houston Income Properties, Inc. or any of the owners or officers, directors, employees, agents or representatives of any such entities, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY FOR INFORMATION PLEASE CONTACT: Tom Wilkinson KET Enterprises Incorporated 4295 San Felipe, Suite 355 Houston, TX twilk4@ketent.com Jim Hurd Houston Income Properties 6363 Woodway Suite 370 Houston, Texas jhurd@houstonincomeproperties.com