MILWAUKIE 4-PLEX. 4-Unit Multi-Family Investment 3628 SE Milwaukie Avenue, Portland, Oregon MULTI-FAMILY INVESTMENT PROPERTY ANALYSIS

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1 4-Unit Multi-Family Investment 3628 SE Milwaukie Avenue, Portland, Oregon MULTI-FAMILY INVESTMENT PROPERTY ANALYSIS 136 NE 28 th Avenue Portland, Oregon Office Fax

2 Subject Property Exterior Photos

3 Subject Property Interior Photos

4 Subject Property Basement Photos

5 Brooklyn Neighborhood Photos Brooklyn Park Aladdin Theater & The Lamp Tavern Brooklyn School Park Brooklyn Neighborhood Mural Brooklyn School Park Tennis Courts Brooklyn School

6 Attributes of the Property This pride of ownership vintage craftsman style 4-Plex was built in 1912, and is located in the Brooklyn Neighborhood of close-in SE Portland. It comprises two (2) large 1BR/1BA units on the main level with interior staircases leading to lower level dens for a total SF of approximately 900 SF, and two (2) 1BR/1BA units on the 2nd floor of approximately 625 SF with large private balconies. The interiors feature vintage details including vintage wood trim, hardwood floors, high ceilings and some claw foot bathtubs. All units are separately metered for electricity and gas. The large basement features five (5) storage lockers, bike storage & coin-op laundry. Attributes of the Location The Subject Property is located in the Brooklyn neighborhood of close-in SE Portland. Brooklyn is a popular residential neighborhood located along the east side of the Willamette River and in close proximity to Downtown Portland. It is a short walk to several parks, popular coffee shops, bars and restaurants. A new Max Light Rail Orange line opened in 2015, providing quick access to downtown. Reed College is also within biking distance. Seven (7) blocks from the subject property is a Max Light Rail line station. (SE 17th Ave & SE Rhone Street Orange Line Station)

7 INVESTMENT SUMMARY Summary Price: $899,000 Down Payment: 25% $224,750 Number of Units: 4 Location 3628 SE Milwaukie Avenue Portland, OR Financing Summary New Non-Owner Occupied Residential Loan in the amount of Price/Unit: $224,750 $674,250 Building/SF: 4,368 at 5.50% Principal and Interest Amortized over 30 Years Price/SF $206 Current Cap: 5.51% Market Cap: 5.84% Parcel ID Current GIM 14.2 Lot Size Market GIM 13.5 Utilities paid by Tenant Additional Information R Acre (4,537 SF) Electricity Year Built: 1912 INCOME Annualized Operating Data Annualized Expenses Current Market 2018 Estimate % EGI Per Unit EXPENSES Scheduled Rent Income: $65,160 $68,280 Taxes $8,263 - $2,066 Laundry $280 $280 Insurance $1,800 - $450 Scheduled Gross Income: $65,440 $68,560 Water & Sewer $2,400 - $600 Less: Vacancy (3%) ($1,963) ($2,057) Trash/Recycling $900 - $225 Effective Gross Income: $63,477 $66,503 Common Electricity $600 - $150 Less: Expenses: ($13,963) ($13,963) Net Operating Income $49,514 $52,540 Year 1 Debt Service ($45,940) ($45,940) Total Expenses $13, % $3,491 Pre-Tax Cash Flow $3,574 $6,600 Principal Reduction $9,083 $9,083 Total Return 5.6% $12, % $15,683 Cash Yield 1.6% $3, % $6,600 Scheduled Income Current Market Total Units Unit Type Approximate SF/Unit Rent Rent/PSF Rent Rent PSF 2 1BR-1BA 900 SF $1,400 - $1,430 $ $1.59 $1,495 $1.66 w/ Den 2 1BR-1BA 625 SF $1,250 - $1,350 $ $2.16 $1,350 $ $5,430 $5,690

8 RENT SURVEY PROPERTY LOCATION 3628 SE Milwaukie Ave Portland, OR YEAR BUILT TOTAL # OF UNITS UNIT TYPE BR/1BA w/ Den 2 1BR/1BA UNIT SF CURRENT RENT RENT/PSF SOURCE PHOTO $ $1430 $ $1.59 Owner $ $1350 $ $2.16 *Subject Property 3413 SE Cora St Portland, OR BR/1BA 630 $1425 $2.26 Craigslist 7/31/ SE Milwaukie Portland, OR BR/1BA 450 $1125 $2.50 Craigslist 7/12/18 expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and

9 RECENT SALES COMPARABLES PROPERTY LOCATION 3628 SE Milwaukie Ave Portland, OR YEAR BUILT # UNITS UNIT MIX / COMMENTS BR/1BA w/ Den 2 1BR/1BA PRICE / PRICE / PRICE UNIT SF GRM SOLD PHOTO $899,000 $224,750 $ TBD *Subject Property 1003 SE 23 rd Ave Portland, OR SOLD by BR/1BA 3 1BR/1BA 3 Garages $1,075,000 $268,750 $ July SE 21 st Ave Portland, OR SOLD by BR/1BA w/ Private Basement & Washer / Dryer $1,270,000 $317,500 $ June 2018 expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and

10 PROPERTY LOCATION 1737 NE 22nd Ave Portland, OR YEAR UNIT MIX / PRICE / PRICE / BUILT # UNITS COMMENTS PRICE UNIT SF GRM SOLD PHOTO BR/1BA $1,100,000 $275,000 $ April SE Ash St Portland, OR BR/1BA 1 1BR/1BA $1,050,000 $262,500 $ Aug NE Couch St Portland, OR BR/1BA $988,095 $247,024 $ June 2017 SOLD by 2240 NE 14 th Ave Portland, OR BR/1BA $1,250,000 $312,500 $ Dec 2016 expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and

11 PROPERTY LOCATION 5610 N Greeley Ave Portland, OR YEAR UNIT MIX / PRICE / PRICE / BUILT # UNITS COMMENTS PRICE UNIT SF GRM SOLD PHOTO BR/1BA $1,110,000 $277,500 $ Nov SE Alder St Portland, OR BR/1BA 3 1BR/1BA $1,495,000 $373,750 $349 NA Sept 2016 expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and