$3,075,000. Eight Great Units in Pacific Beach 2121 Thomas Ave., San Diego MARKETING

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Vernon Patterson
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Eight Great Units in Pacific Beach $3,075,000 Just a short bike ride to the

building particularly desirable. Thomas Ave.

Principal www.aciapartments.com Direct: 619.497.6424 Fax: 619.299.

com License #00918512 2017 Apartment Consultants, Inc.

1 Eight Great Units in Pacific Beach $3,075,000 Just a short bike ride to the beach. Almost $100K of renovation including new roof and windows. Six units have been remodeled. Two double garages plus four tandem parking spaces make this classic Huffman building particularly desirable. Thomas Ave. is a low traffic street providing quiet peaceful surroundings. Video Tour: Exclusively Listed By: TERRY MOORE, CCIM SVP, Principal Direct: Fax: Cell: tmoore1031@gmail.com License # Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 6

2 APARTMENT INVESTMENT INFORMATION # Units Address City State Zip Yr Built (Aprx.) Gross Sq. Ft. Parcel Size Acres APN Thomas Ave. San Diego CA ,690 6, GRM CAP Rate % Rentable Price Current Potential Current Potential $ / Unit $ / Sq Ft Sq Ft $3,075, % 3.9% $384,375 $540 5,690 Estimated Average Monthly Income Analysis Estimated Annual Operating Expenses Units Bed Bath Rent -by close Total Potential Rent Total Advertising $0 Mgt-Off Site $8, $1,725 $8,625 $1,800 $9, $1,990 $5,970 $2,200 $6,600 Cleaning / Turnover $0 Miscellaneous $0 ** see note below regarding unit mix Rents shown will be in place by close of escrow. Credit Check / Bank $0 Painting $1,600 Actual rents differ. These figures are averages. Gardener $1,500 Repairs / Replacements $6,400 4 Garage Spaces - Income $75 $300 $75 $300 Gas & Electric $2,880 Salaries $0 yes Laundry Income $120 $120 $120 $120 no RUBS $0 $0 $0 $0 Insurance $2,400 Taxes* $35,978 no Other Income $0 $0 $0 $0 *Based upon sale price Total Rental & Other Income $15,015 $15,015 $16,020 $16,020 Legal / Accounting $0 Trash Collection $1, Total Parking Spaces 4 Garage 8 Open Mgt-On Site $0 Water & Sewer $4,800 Annual Operating Proforma Total Annual Expenses $65,896 Actual Potential Expenses per: Est Sq Ft: $11.58 Gross Rental Income $175,140 $187,200 Unit: $8,237 Plus Other Income $5,040 $5,040 GSI: 36.57% Gross Scheduled Income $180,180 $192,240 Less: Vacancy Factor 3% $5,405 $5,767 Financing Information Gross Operating Income $174,775 $186,473 Down Payment 53% Amount $1,632,825 Less: Operating Expenses 36.6% $65,896 $65,896 Interest Rate 4.75% Net Operating Income $108,878 $120,577 # of Years Amortized Over 30 Less: First TD Payments $90,277 $90,277 Proposed Financing 47% Amount $1,442,175 Pre-Tax Cash Flow $18,602 $30,300 Existing Financing 0 Debt Coverage Ratio Current 1.21 This classic Huffman building has had almost $100k of renovation over the past three years. The building has dual pane windows. Six of the eight units have been remodeled including appliances, kitchen cabinets, counter-tops and bathroom vanities. Rent increases will be in effect by close of escrow. ** Prime Asset has managed the property for a decade and reports five/one bed and three/two bed units. The tax records show ten bedrooms. ACI has not seen or verified each unit. A short bike ride to the beach and two double garages plus four tandem parking spaces make this asset very desirable. Plentiful street parking offers more convenience than most of Pacific Beach. Concrete driveways mean lower maintenance cost for the owner. Thomas Ave is a low traffic residential street providing quiet peaceful surroundings Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 8/28/2018

This classic Huffman building has had almost $100k of renova on over the past three years. The building has dual pane windows.

The property manager reports that his opinion is that apartments 2,5 & 6 have undergone substan al rehabilitaon, that 3,7 & 8 have been par ally rehabbed and that 1 &

The tax record shows ten bedrooms. ACI has not physically inspected each unit to verify. 2017 Apartment Consultants, Inc.

3 This classic Huffman building has had almost $100k of renova on over the past three years. The building has dual pane windows. Six of the eight units have been remodeled including appliances, kitchen cabinets, counter-tops and bathroom vani es. The property manager reports that his opinion is that apartments 2,5 & 6 have undergone substan al rehabilitaon, that 3,7 & 8 have been par ally rehabbed and that 1 & 6 are near original condi on. Prime Asset has professionally managed the property for at least a decade and reports five/one bedroom and three/two bedroom units. The tax record shows ten bedrooms. ACI has not physically inspected each unit to verify Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 2

make no representations or warranties, expressed or implied, as to the accuracy of

4 2017 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 3

5 2017 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 4

6 2017 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 5

$3,199,000. Eight Great Units in Pacific Beach 2121 Thomas Ave., San Diego MARKETING

$3,199,000. Eight Great Units in Pacific Beach 2121 Thomas Ave., San Diego MARKETING Eight Great Units in Pacific Beach $3,199,000 Just a short bike ride to the beach. Almost $100K of renovation. Six units have been remodeled. Two double garages plus four tandem parking spaces make this