Garrott House 3414 Garrott Houston, TX MARK KALIL & ASSOCIATES, INC.

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1 Garrott House 3414 Garrott Houston, TX MARK KALIL & ASSOCIATES, INC.

2 COMMERCIAL REAL ESTATE Office Cell 3414 Garrott, Houston, TX INVESTMENT HIGHTLIGHTS Garrott House apartment homes EXCELLENT LOCATION INSIDE THE LOOP, VERY GOOD CONDITION 11 OPEN PARKING SPACES (5 IN FRONT AND 6 IN REAR) WINDOW UNIT AIR/HEAT DUCTED IN, WITH THERMOSTATS INVESTMENT SUMMARY ASKING PRICE $1,130,000 PRICE/UNIT $141,250 PRICE/SF $ NOI $57, EVERY UNIT HAS BEEN UPDATED PROPERTY HAS CERTIFICATE OF OCCUPANCY NEW ROOF IN 2017 UNIT SIZES ARE APPROXIMATE ENCLOSED GATED COURTYARD WITH FOUNTAIN Units: 8 Age: 1968 Rentable Sq. Ft.: 5,700 Occupancy: 100% Acres: Class: B FOR INFORMATION CONTACT: MARK KALIL Broker/Owner Mark Kalil & Associates Inc. mark@markkalil.com 2001 Holcombe Blvd. I Suite 105 I Houston, Tx Broker License #

3 COMMERCIAL REAL ESTATE Office Cell INCOME AND EXPENSES ACTUAL COMMENTS Monthly Collections $8, T-3 Collections Collections Annualized $105, Misc Income $ Total Income $106, Expenses Per SqFt $8.38 $47, Expenses Per Unit $5,971 Net Operating Income $57, Less Debt Service Net Cash Flow $57, Capitalization Rate 5.12% Cash on Cash POTENTIAL COMMENTS Street Rent Annualized $109, Vacancy 3% -$3, Other Income $ Adjusted Gross Income $107, Expenses per Sq.Ft. $8.38 $47, Expenses per Unit $5,971 Net Operating Income $59, Less Debt Service Net Cash Flow $59, Capitalization Rate 5.26% Cash on Cash Items not applicable to new owner and capital items not shown in operating expenses This property is subject to prior sale, change in price or removal from the market without notice. All information supplied from sources deemed reliable, is not warranted by Mark Kalil & Associates, Inc. The Purchaser should verify the income and expenses and all other information contained herein and have it reviewed by their legal counsel and/or tax advisor.

4 Property Summary SITE DETAILS Year Built: 1968 Water Meter: Master UNIT MIX Type #Units Sq Ft Total SF Rent Rent/SF Total Rent Roof: Flat # of Stories: ,500 $995 $1.59 $3,980 Wiring: Copper Parking: ,200 $1,295 $1.62 $5,180 Materials: Brick/Wood Buildings: 1 Paving: Concrete Density: 56 A/C Type: HVAC Acres: Electric Meter: INDIV Key Map: 493T INTERIOR FEATURES Cable Ready Intrusion Alarm Ceilings Fans Gourmet Kitchens Ceramic Tile Microwave Crown Molding Mini-Blinds Dishwashers Patios/Balconies Disposals Smoke Alarms Fireplaces W/D Conn t-free Refrigerator Walk-in Closets COMMUNITY FEATURES Access Gates Clubhouse Covered Parking Open Parking Laundry Room Perimeter Fence Pool Playground Patio Carports Onsite Manager Onsite Main EXISTING MORTGAGE INFORMATION Origination Date: Balance: Interest Rate: Assumable: P & I: Origination Amt: Term: Amortization: Transfer Fee Escrow: Yield Maint: ,700 $1,145 $1.61 $9,160 TOTAL AVG TOTAL AVG RENT/S TOTAL UNITS SQ FT SF FT RENT Q FT RENT

5 Location Texas GARROTT HOUSE GARROTT HOUSE

6 M O N T R O S E Montrose, a central Houston community established in 1911, is a demographically diverse neighborhood with renovated mansions, bungalows with wide porches, and cottages located along tree-lined boulevards. Montrose is a major cultural hub. The area was named as one of the "ten great neighborhoods in America" by the American Planning Association, in Because of the inclusion of Montrose, the Houston Heights, and the Rice University area, it is nicknamed "hipstrict", referring to its progressive and urban ethic Montrose houses five of the city's 15 designated historic districts. Development over the years has maintained, if not added to, the community s distinctive personality which encompasses an interesting selection of architecture. Whether its antique shopping in the West Gray/River Oaks shopping areas, enjoying art, science or history at one of the various museums or simply hanging with friends at a local restaurant or bar, there is always something to see and do in the Montrose area. AREA DEVELOPMENT The Montrose area is Houston s true live/work/play submarket, Montrose has a little bit of everything. River Oaks, Midtown, Upper Kirby, and Afton Oaks provide the submarket with a range of diverse living, working, retail, and entertainment destinations that continually attract the who s who of Houston. In addition, amenities like Memorial Park and the River Oaks District as well as access to Uptown, the Museum District, andthe CBD all provide renters with plenty to do. Developers have always favored building in this area but with the added competition, it will take time for these new units to lease. Of the properties built during the first wave ( ) of supply, most are fully stabilized. The trouble arises in the properties late to the party ( ). Leasing slowed considerably last year, and many of these properties aren't close to reaching stabilization. Demographics can support pricey new apartments and are a main reason so many are built here. More than 60% of households in the area are renters. And when combined with the fact that residents here earn a median income of $85,000/year, the $1,750/month rental rates and a glut of new supply can be justified.

7 Rent Comps PROPERTY NAME 1009 Enid 1009 Enid 201 Emerson 201 Emerson 4115 Drake 4115 Drake 3618 Garrott 3618 Garrott Age Date Renovate No. Units Total SF , $1, N/A 20 12, $1,054 $ % 1962 N/A 16 9, N/A 16 8,544 Avg SF 603 $1,250 $ % 534 Avg Rent Avg/SF Occ $ % $1,060 $ % AVERAGES , $1,116 $ % GARROTT HOUSE APARTMENT HOMES , $1,145 $ %

8 Sales Comps PROPERTY NAME Date Sold Sales Price No Units Avg $/Unit Enid 1009 Enid 715 W 13th St. 715 W 13th St. 331 W 18th St. 331 W 18th St Park 2323 Park 2423 Woodhead 2423 Woodhead 11/18 $1,300, $130,000 04/18 $960,000 5 $192,000 05/18 $2,340, $195,000 09/17 $590,000 4 $147,500 04/17 $675,000 4 $168,750 1,173,000 7 $166,650 $1,130,000 8 $141,

9 Aerial GARROTT HOUSE

10 Demographics 1 Mile Radius 3 Mile Radius 5 Mile Radius 1 Mile Radius 2018 Estimated Population 28,526 95, , Projected Population 29,640 99, , Census Population 25,047 80, , Census Population 22,009 71, ,002 Projected Annual Growth 2018 to % 0.9% 0.8% Historical Annual Growth 2000 to % 1.9% 2.3% 2018 Median Age White Black Asian Other Hispanic 2018 Estimated Households 17,238 54,117 94, Projected Households 18,564 58, , Census Households 14,413 42,764 72, Census Households 11,821 34,370 59,443 Projected Annual Growth 2018 to % 1.6% 1.6% Historical Annual Growth 2000 to % 3.2% 3.3% 2018 Estimated White 66.2% 60.3% 57.2% 2018 Estimated Black or African American 14.0% 21.2% 24.8% 2018 Estimated Asian or Pacific Islander 7.9% 7.8% 7.5% 2018 Estimated American Indian or Native Alaskan 0.6% 0.5% 0.4% 2018 Estimated Other Races 11.3% 10.3% 10.2% 1 Mile Radius Hispanic/Non-Hispanic Hispanic Non- Hispanic 2018 Estimated Hispanic 26.3% 24.9% 26.1% 2018 Estimated Average Household Income $117,513 $135,031 $137, Estimated Median Household Income $79,481 $88,946 $90, Estimated Per Capita Income $71,503 $76,994 $67, Estimated Elementary (Grade Level 0 to 8) 2.9% 2.9% 3.9% 2018 Estimated Some High School (Grade Level 9 to 11) 3.1% 3.6% 5.5% 2018 Estimated High School Graduate 7.9% 9.2% 11.8% 2018 Estimated Some College 15.4% 14.8% 15.0% 2018 Estimated Associates Degree Only 4.4% 4.2% 4.6% 2018 Estimated Bachelors Degree Only 34.4% 33.5% 30.6% 2018 Estimated Graduate Degree 31.9% 31.7% 28.6% 2018 Estimated Total Businesses 2,795 11,265 23, Estimated Total Employees 24, , , Estimated Employee Population per Business Estimated Residential Population per Business Mile Radius Avg Income Subject/Wharton $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 Subject Houston

11 Harris County Flood Control District Map GARROTT HOUSE Please Verify This Information!

12 Broker Disclosure

13 Garrott House apartment homes 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 (Mark Kalil & Associates, 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: Mark Kalil & Associates, 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 Mark Kalil & Associates 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 More Information About This Property Please Contact: Mark Kalil Broker Mark Kalil & Associates, Inc Holcombe Blvd, Suite 105 Houston, Texas T C mark@markkalil.com Broker Real Estate License No