1308 Gallaudet Gallaudet Street NE Washington, D.C. OFFERING MEMORANDUM. Rapidly Developing Submarket. Self-Contained Units

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1 308 Gallaudet 308 Gallaudet Street NE Washington, D.C. OFFERING MEMORANDUM Rapidly Developing Submarket The Property is located in the rapidly-developing Ivy City neighborhood. Hecht Warehouse was the catalyst for this development; redevelopment of the Crummell School is expected to begin soon, eventually delivering several hundred thousand square feet of residential and commercial space. Self-Contained Units Each unit is individually metered for electricity and natural gas. With individual heating, cooling, and domestic hot water systems, the owner s only utility responsibility is water/sewer. Renovated Unit Interiors Many of the units have been modernized including upgrades to kitchen and bathroom interiors. However, there is still room for the investor seeking opportunity to add their own value. Hot Submarket Take this opportunity to acquire a multifamily property in Ivy City, a sought-after neighborhood located between the rapidly developing Union Market, Trinidad, and Rhode Island Avenue Corridor submarkets. 208 Greysteel THE HECHT WAREHOUSE AT IVY CITY (0.2 MILES)

2 NEWCITYDC HECHINGER MALL DC STREETCAR BLA DE KIPP DC WEBB CAMPUS NS BU RG FLATS AT RO ATLAS AD NE BUS LINE D8 CRUMMELL SCHOOL REDEVELOPMENT NU EN E H STREET NE 308 GALLAUDET RHODE ISLAND AVENUE METRO STATION UE RHODE ISLAND ROW VEN KA R YO FLO NEW RID AA VE 50 NE DE RHO MCKINLEY TECHNOLOGY HIGH SCHOOL UE VEN DA AN ISL LANGLEY ELEMENTARY SCHOOL HARRY THOMAS RECREATION CENTER NOMA-GALLAUDET U NEW YORK AVE METRO STATION UNION STATION METRO STATION NE N. CAPITOL STREET NE 208 Greysteel LOCAL RETAIL MAP

3 MILE 2 2-MILE MILE ALT 308 GALLAUDET AREA MAP DEVELOPMENTS Hill East Development 2 McMillan Sand Filtration Site 3 NewCityDC 4 RFK Stadium Redevelopment 5 The Yards EDUCATION 6 Gallaudet University 7 Howard University 8 The Catholic University of America 9 Trinity Washington University GOVERNMENT 0 United States Capitol HEALTH SERVICES Children s National Hospital 2 Howard University Hospital 3 MedStar Health Washington Medical Center PARKS & RECREATION 4 Capital One Arena 5 Echostage 6 Kenilworth Park & Aquatic Gardens 7 National Mall 8 Nationals Park 9 United States National Arboretum 20 Walter E. Washington Convention Center SHOPPING & RESTAURANTS 2 4th & U Street Retail 22 Barracks Row 23 CityCenterDC 24 DCUSA 25 Eastern Market 26 H Street Corridor 27 Rhode Island Avenue Shopping Center 28 Rhode Island Row 29 Shops at Dakota Crossing 30 The Hecht Warehouse at Ivy City 3 Union Market TRANSIT 32 Union Station 208 Greysteel

4 Property Details 308 Gallaudet 308 Gallaudet Street NE Washington, D.C WALK SCORE (Very Walkable) 64 TRANSIT SCORE (Good Transit) 53 BIKE SCORE (Bikeable) 2,800 RENTABLE SF Stories 2 Units 4 Building Year Built 942 CONSTRUCTION Framing Stick-Built Exterior Brick Masonry Parking Street Roof Flat Windows Dual-Pane MECHANICALS Plumbing Galvanized/Copper/PVC Air Conditioning Split-System Electrical Breakers Heating Forced Air LOT SIZE TYPE OF OWNERSHIP ZONING PARCEL,950 SF Fee Simple RF UTILITIES UTILITY SERVICE POWER SOURCE PAID BY SERVICE PROVIDER Heat Electric Resident Pepco Cooking Electric Resident Pepco Hot Water Electric Resident Pepco Air Conditioning Electric Resident Pepco Lights and Plugs Electric Resident Pepco Water/Sewer - Property DC Water UNIT MIX Unit Type No. of Units Avg SF Effective Rent/Unit Market Rent/Unit BDR $,275 $,449 Totals/Wtd. Averages $,275 $,449 TAXES TAX YEAR TOTAL ASSESSED VALUE TAX RATE TAXES PAID 208 $484, % $4,6 209 $523, % $4, Greysteel

5 Rent Comparables 3 4 RHODE ISLAND AVENUE NE 9TH STREET NE BRENTWOOD AVENUE NE 308 GALLAUDET MONTANA AVENUE NE NEW YORK AVENUE NE 2 50 WEST VIRGINIA AVENUE NE ALT BLADENSBURG ROAD NE PROPERTY UNITS YEAR BUILT AVG SF ASKING RENT PER UNIT ASKING RENT PER SF Rhode Island Row $2,255 $ % Hecht Warehouse $2,203 $3.3 96% 0.2 HCVP Rents $, Gallaudet Street NE* $,275 $.82 00% -- 3 The Franklin $,97 $.58 96% Dahlgreen Court Apartments $,070 $.90 94% 0.8 Survey Average 673 $,869 $ % *Subject property effective rent $2,400 OCC. RATE $3.60 DIST. TO SUBJECT (MILES) $2,200 $2,000 $3.0 Asking Rent Per Unit $,800 $,600 $,400 $,200 $,000 $800 $2.60 $2.0 $.60 $.0 Asking Rent Per SF $600 Rhode Island Row Hecht Warehouse Survey Average HCVP Rents 308 Gallaudet Street NE* The Franklin Dahlgreen Court Apartments $0.60 Asking Rent Per Unit Asking Rent Per SF 208 Greysteel

6 UTILITY ADJUSTED RENT PER UNIT BDR PROPERTY YEAR BUILT UNITS SF ASKING RENT UTILITY-ADJUSTED RENT PER UNIT UTILITY-ADJUSTED RENT PER SF Rhode Island Row $2,255 $2,487 $ % 0.7 Hecht Warehouse $2,203 $2,435 $ % 0.2 HCVP Rents $,449 $, The Franklin $,97 $,43 $.86 96% 0.9 Dahlgreen Court Apartments $,070 $,22 $2.7 94% 0.8 Survey Average 672 $,876 $2,088 $3. 96.% 308 Gallaudet Street NE* $,275 $,426 $ % --. This rent survey was completed in July Utility-adjusted rent is based on HUD-prescribed values for the various utilities residents pay for. HUD tables may be provided upon request. 3. Survey Average excludes the Subject Property. 4. Subject Property reflects in-place rents. OCC. RATE DIST. TO SUBJECT (MILES) UTILITY ADJUSTED RENT PER SQUARE FOOT BDR PROPERTY YEAR BUILT UNITS SF ASKING RENT UTILITY-ADJUSTED RENT PER UNIT UTILITY-ADJUSTED RENT PER SF Hecht Warehouse $2,203 $2,435 $ % 0.2 Rhode Island Row $2,255 $2,487 $ % 0.7 Dahlgreen Court Apartments $,070 $,22 $2.7 94% 0.8 The Franklin $,97 $,43 $.86 96% 0.9 HCVP Rents $,449 $, Survey Average 672 $,876 $2,088 $3. 96.% 308 Gallaudet Street NE* $,275 $,426 $ % --. This rent survey was completed in July Utility-adjusted rent is based on HUD-prescribed values for the various utilities residents pay for. HUD tables may be provided upon request. 3. Survey Average excludes the Subject Property. 4. Subject Property reflects in-place rents. OCC. RATE DIST. TO SUBJECT (MILES) 208 Greysteel

7 RHODE ISLAND ROW (0.7 MILES) RHODE ISLAND AVE METRO STATION (0.8 MILES) NEWCITYDC (0.7 MILES) GALLAUDET UNIVERSITY (<0. MILES) 208 Greysteel UNION MARKET (0.6 MILES)

8 7735 Old Georgetown Road Suite 30 Bethesda, MD New York Los Angeles Dallas Fort Worth Washington D.C.* Philadelphia Phoenix Denver Baltimore Norfolk D.C. License No: LL *Corporate Headquarters and Transaction Services Center SALES: FINANCE: W. KYLE TANGNEY HERBERT SCHWAT BRENDAN SCANLON Managing Director Senior Investment Associate Senior Director For more information or to inquire about Greysteel, please contact Ari Firoozabadi, President & CEO ) Greysteel, seller, and their respective representatives make no representations or warranties, express or implied, regarding the accuracy or completeness of the information in this Offering Summary. Prospective purchasers shall be responsible for performing their own independent due diligence with respect to a possible transaction. This offering is subject to prior placement, withdrawal, cancellation or modification without notice. All references to acreage, square footage, and other measurements are approximations and must be independently verified. 208 Greysteel