4039 N Bonita Street List Price $ 639,000

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4039 N Bonita Street List Price $ 639,000 Exclusively Listed by : Brian Raynoha CalBRE: #01798711 858.869.9290 BrianRaynoha@gmail.com 2016 Apartment Advisors, Inc.

1 4039 N Bonita Street List Price $ 639,000 Exclusively Listed by : Brian Raynoha CalBRE: # BrianRaynoha@gmail.com 2016 Apartment Advisors, 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. 1

PROPERTY OVERVIEW PROPERTY ADDRESS 4039 N Bonita Street Spring Valley, CA 91978 ASSESSOR PARCEL NO. 488-113-16 RENTABLE SQ. FT. 3,021 SQ FT LOT SIZE 6,824 SQ FT 0.16 Acres UNIT NO.

2 PROPERTY OVERVIEW PROPERTY ADDRESS 4039 N Bonita Street Spring Valley, CA ASSESSOR PARCEL NO RENTABLE SQ. FT. 3,021 SQ FT LOT SIZE 6,824 SQ FT 0.16 Acres UNIT NO. 3 Units UNIT MIX 1 x 2 Bed 1.5 Bath 2 x 2 Bed 1.5 Bath Town Homes THE PROPERTY The Lark Apartments, is a sixteen unit complex located in the rental market of El Cajon, California. The subject property is situated on a 16,122 square foot lot and is comprised of sixteen 1-bedroom / 1bathroom units. The property offers tenants a desirable place to live with close proximity to downtown El Cajon, shopping, schools, employment centers and freeways. PROPERTY HIGHLIGHTS Washer/Dryer Hookups in Each Unit Individual Water & Electric Meters Three Carports & One Surface Space 2 Bed 2 Bath Townhome Style Unit With Fenced Yard 2 Bed 1.5 Bath Single Level Unit 2 Bed 1.5 Bath Townhome Style Unit With Enclosed Yard 2016 Apartment Advisors, 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

REGIONAL MAP BEACH 25 Minutes 19 Miles MISSION VALLEY 20 Minutes 15 Miles DOWNTOWN 15 to 20 Minutes 12.5 Miles AIRPORT 20 to 25 Minutes 15 Miles 2016 Apartment Advisors, Inc.

3 REGIONAL MAP BEACH 25 Minutes 19 Miles MISSION VALLEY 20 Minutes 15 Miles DOWNTOWN 15 to 20 Minutes 12.5 Miles AIRPORT 20 to 25 Minutes 15 Miles 2016 Apartment Advisors, 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

4 INVESTMENT SUMMARY Investment Summary # Units Address City State Zip Year Built (Approx.) Lot Size N Bonita Street Spring Valley CA ,824 GRM CAP Rate % Price Current Market Current Market $ / Unit $ / Sq Ft Rentable Sq Ft $639, % 6.35% $213,000 $212 3,021 Estimated Average Monthly Income Analysis Estimated Operating Expenses No. Floor Plan Rent Total Market Rent Total Actual PROFORMA 1 2 bed 2 bath Town Home $1,295 $1,295 $1,695 $1,695 Mgt-Off Site $0 Mgt-Of Site $0 1 2 bed 1.5 Bth Town Home $1,195 $1,195 $1,650 $1,650 Mgt-On Site $0 Mgt-On Site $0 1 2 bed 1.5 bath $1,095 $1,095 $1,395 $1,395 Gas & Elec. $0 Gas & Elec. $0 Wrt & Swr $1,590 Wrt & Swr $1,590 Landscaping $0 Landscaping $1,200 3 Actual $3,585 Market $4,740 Trash $864 Trash $864 Pest Control $0 Pest Control $495 Maintenance $2,250 Maintenance $2,250 Laundry Income $125 $125 Fire & Gate $100 Fire & Gate $100 Other Income $0 $0 Insurance $1,250 Insurance $1,250 Total Monthly Other Income $125 $125 Taxes $7,668 Taxes $7,668 Licenses & Fees $0 Licenses & Fees $0 Total Rental & Other Income $3,710 $4,865 Reserves $900 Reserves $900 Annual Operating Proforma Total $14,622 Total $16,317 Actual Proforma Gross Rental Income $43,020 $56,880 Total Expenses Per Est Sq Ft: $4.84 Total Expenses Per Est Sq Ft: $5.40 Plus Other Income $1,500 $1,500 Total Expenses Per Unit: $8 Total Expenses Per Unit: $5,439 Gross Scheduled Income $44,520 $58,380 Total Expenses Per GSI: 32.84% Total Expenses Per GSI: 27.95% Less: Vacancy Factor 2.5% $1,113 $1,460 Financing Information Gross Operating Income $43,407 $56,921 Down Payment 37% Amount $239,000 Less: Operating Expenses 32.84% $14,622 $16,317 Interest Rate 4.5% Net Operating Income $28,785 $40,604 # of Years Amortized Over 30 Proposed Loan Amount Amount $400,000 Less: First TD Payments ($24,321) ($24,321) Loan Points 0% Other Loan Costs $0 Pre-Tax Cash Flow $4,464 $16,283 Cash On Cash Return 1.87% 6.81% Deb Coverage Ratio Current 1.18 Market 1.67 Principal Reduction $6,453 $6,453 Total Potential Return 4.57% 9.51% Contact Information Financing Costs 0 $0 Name Brian Raynoha MBA CalBRE# Down Payment $239,000 $239,000 Cell: Brianraynoha@gmail.com Total 1st Year Cost $239,000 $239, Camino Del Rio South #155, San Diego, CA, Apartment Advisors, 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

COMPAREABLE SALES COMPAREABLE PROPERTIES # S 1 2 Property Address 4039 N Bonita Street Spring Valley, CA 91977 4026 N Bonita Street

5/28/2016 Units 3 3 4 Price/ Unit $213,000 $191,667 $198,750 SQFT 3,021 2,520 3,690 Price/ SQFT Year Built Actual GRM Actual CAP

Garages Washer/Dryer Hookups Fenced Yards Tandem Parking Spaces Washer/Dryer Hookups 2016 Apartment Advisors, Inc.

5 COMPAREABLE SALES COMPAREABLE PROPERTIES # S 1 2 Property Address 4039 N Bonita Street Spring Valley, CA N Bonita Street Spring Valley, CA Lamar Street Spring Valley, CA Price $639,000 $575,000 $795,000 1 S Sale Date 2/24/2017 5/28/2016 Units Price/ Unit $213,000 $191,667 $198,750 SQFT 3,021 2,520 3,690 Price/ SQFT Year Built Actual GRM Actual CAP Market GRM Market CAP Unit Mix $ $ $ % 5.15% 5.28% % 5.74% 5.99% 2-2 Bed 1 Bath 1-2 Bed 2 Bath 3-2 Bed 1 Bath 4-2 Bed 1 Bath 2 Notes Carports Washer/Dryer Hookups Views Enclosed Patios Single-Car Garages Washer/Dryer Hookups Fenced Yards Tandem Parking Spaces Washer/Dryer Hookups 2016 Apartment Advisors, 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

PROPERTY OVERVIEW 2016 Apartment Advisors,

sources we believe to be reliable, but we

expressed or implied, as to the accuracy of

6 PROPERTY OVERVIEW 2016 Apartment Advisors, 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

VIEWS FROM PROPERTY 2016 Apartment Advisors, Inc.

to be reliable, but we make no representations or

7 VIEWS FROM PROPERTY 2016 Apartment Advisors, 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. 7

CALBRE # 02037189 2525 Camino Del Rio South, Suite 155 San Diego, CA 92108 Brian Raynoha President/Principal MBA CalBRE #01798711 Phone: 858.869.9290 www.apartmentadvisorsinc.

8 CALBRE # Camino Del Rio South, Suite 155 San Diego, CA Brian Raynoha President/Principal MBA CalBRE # Phone: BrianRaynoha@gmail.com 2016 Apartment Advisors, 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

4533 NORTH AVENUE, SAN DIEGO, CA 92116

TABLE OF CONTENTS 4533 NORTH AVENUE, SAN DIEGO, CA 92116 TABLE OF CONTENTS PROPERTY OVERVIEW 3 PROPERTY LOCATION 4 NEIGHBORHOOD DESCRIPTION 6 COMPARABLE SALES 7 RENTAL SURVEY 9 APARTMENT INVESTMENT INFORMATION