Bella Vista 621 N 30TH PLACE, PHOENIX, AZ

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1 EXECUTIVE SUMMARY OFFERING SUMMARY Offering Price: $1,597,000 Number Of Units: 24 Cap Rate: 6.8% NOI: $108,823 PROPERTY HIGHLIGHTS Individually Metered for Electricity and Gas Covered Parking Spacious Common Area On-Site Laundry Mix of 1/1 and 2/1 Floor Plans Lot Size: Building Size: 1.17 Acres 16,132 SF Good Upside in Rents High Rental Demand Area Year Built: 1959 Zoning: M-H, R-4 Wait List for Future Vacancies Proximity to Transportation and Retail Cross Streets: North 31st Street & East McKinley Street

2 INVESTMENT SUMMARY INCOME & EXPENSES CURRENT $1,597,000 Offering Price $479,100 Down Payment PROFORMA Units Mix Size (sf) Rent Rent/sf Total Rent Total 20 1/1 625 $501 $0.80 $10,020 $560 $11, /1 800 $604 $0.76 $2,416 $660 $2, ,700 12,436 13,840 Market RENTS & 12 mo trailing EXPS Gross Monthly Income $13,840 Gross Potential Rents $166,080 Vacancy -$10,500 Laundry Revenues $4,006 Other income $1,365 Gross Operating Income $160,951 Less Estimated Expenses -$52,128 Net Operating Income $108,823 Estimated Annual Expenses Cleaning / Unit Turn $2,233 Commissions / Leasing $565 Exterminating Exp $100 Groundskeeping $1,970 Insurance $4,041 Legal $717 Repair and Maintenance $12,203 Electricity $1,162 Water & Sewer $18,890 Trash removal $1,613 Gas $906 Property Taxes $4,137 Rental Tax $3,591 TOTAL $52,128 Per Unit / SF $2,172 / $3.23 FINANCING AND INVESTMENT RETURN $1,117,900 Proposed Loan (4.55%) SITE INFORMATION 621 N 30th Place, Phoenix, AZ, S: 24 LOT SIZE: BUILDING SIZE: PARCEL: COOLING/HEATING: PARKING: 30 ROOF: CONSTRUCTION: 1.17 AC 16,132 SF BUILT: 1959 UTILITIES: B ZONING: M-H, R-4 LAUNDRY: PROPERTY DESCRIPTION Roof Top Heat Pumps (Indiv) pitched with elastomeric coating block construction Individualy metered electric and gas on-site (leased) Laundry 3 washes + 3 dryers Apartments is a low-density block constructed garden-style apartment community offering a mix of 1/1 and 2/1 rental units. Spacious rental units are individually metered for electricity and gas. Unit amenities include spacious contemporary kitchens with full-size appliances that are adjoining Arcadia-style sliding glass doors which open to semi-private back yards. Property amenities include restricted access, covered parking, a spacious courtyard-common area and an on-site laundry. Rents are very low at the property allowing easy upside for new ownership. At $67k per unit, this represents an outstanding opportunity to acquire a solid multi-family investment in the expanding East Phoenix market with significant value-add potential. Current income and expenses derive a 5.7% CAP at list price. Simply moving all rents to current renewal rates will produce a 6.8% CAP for the new owner. Located just south of the 202 Freeway along the 32nd Street Corridor, the property enjoys easy access to the valley freeway system and is central to employment, entertainment (Celebrity Theatre) and Sky Harbor International Airport. Projected Cash Flow $108,823 NOI - $68,370 Loan Payments $40,453 Annual Cash Flow Return on Investment $40,453 / $479, % (Cash on Cash) SALE INFORMATION Current Rents Offering Price $1,597,000 Price / Unit $66,542 Price / sf $99.00 Cap Rate (pro forma) 6.8% GRM 9.6 Directions: 32nd street to Fillmore Street. turn west to 30th place, north to property on the right.

3 CUSTOM PAGE

4 RENT ROLL NUMBER BED BATH SIZE (SF) CURRENT RENT CURRENT RENT (PER SF) MARKET RENT MARKET RENT/SF $660 $0.83 $660 $ $590 $0.74 $660 $ $500 $0.80 $560 $ $480 $0.77 $560 $ $530 $0.85 $560 $ $525 $0.84 $560 $ $530 $0.85 $560 $ $490 $0.78 $560 $ $570 $0.91 $560 $ $530 $0.85 $560 $ $490 $0.78 $560 $ $490 $0.78 $560 $ $630 $0.79 $660 $ $590 $0.74 $660 $ $530 $0.85 $560 $ $515 $0.82 $560 $ $530 $0.85 $560 $ $530 $0.85 $560 $ $480 $0.77 $560 $ $530 $0.85 $560 $ $490 $0.78 $560 $ $490 $0.78 $560 $ $490 $0.78 $560 $ $530 $0.85 $560 $0.90 Totals/Averages 15,700 $12,720 $0.81 $13,840 $0.89

5 ADDITIONAL PHOTOS

6 LOCATION MAPS

7 DEMOGRAPHICS MAP POPULATION 1 MILE 2 MILES 3 MILES TOTAL POPULATION 17,640 54, ,228 MEDIAN AGE MEDIAN AGE (MALE) MEDIAN AGE (FEMALE) HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES TOTAL HOUSEHOLDS 4,942 17,367 39,423 # OF PERSONS PER HH AVERAGE HH INCOME $32,901 $36,859 $40,845 AVERAGE HOUSE VALUE $186,497 $201,123 $224,155 * Demographic data derived from 2010 US Census