Avenue Lofts S. 6 th Avenue Tucson, AZ 85713

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1 Property Features Sale Price $700,000 Price Per Unit $70,000 Number of Units 10 Rentable Square Feet 12,601 Land 0.52 Acres Cap Rate 7.86% Property Highlights Attractive, large live-work spaces with established tenants Lofted units featuring exposed brick and wood; both evaporative cooling and air conditioning Most units include back yards and second floor space Individually metered for electricity Seller financing available Allan Mendelsberg, Principal Logan Nagel, Assistant PICOR Commercial Real Estate Services 5151 E. Broadway Blvd, Suite 115 Tucson, Arizona phone: picor.com Cushman & Wakefield Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 10/23/2018

2 Property Description is a well-maintained live-work property featuring 10 very large 1 and 2-bedroom units, most of which feature lofted living areas and backyard space as well as enough room for various types of creative projects or work-from-home arrangements. Built in the early to mid 20 th Century and extensively renovated in 2004, the Lofts offer gorgeous interiors with exposed brick, steel, and wood elements. With individuallymetered utilities and 10 parking spaces in front plus additional parking at the rear, makes for an exceptional residence for any artist, craftsman or hobbyist. Allan Mendelsberg, Principal amendelsberg@picor.com Logan Nagel, Assistant lnagel@picor.com PICOR Commercial Real Estate Services 5151 E. Broadway Blvd, Suite 115 Tucson, Arizona phone: picor.com

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4 S 6 th Ave E 23 rd St Location Overview is located at the intersection of S. 6 th Ave and E. 23 rd St. in western Tucson just south of Downtown. The numerous shopping, grocery and restaurant opportunities within a 1.5-mile radius include American Eat Company, McDonald s, Five Points Market & Restaurant, El Torero Restaurant, Soul BBQ, Johnny Gibson s Downtown Market, and Food City. Other area draws are also within close proximity of the property, with Armory Park 1 mile north and all of Downtown Tucson just a block north of that. The University of Arizona is located 2.4 miles to the northeast, and the nearest I-10 expressway entrance is 1.3 miles south. A number of schools are located near the property, such as Safford K-8 School, Santa Cruz Catholic School, Ochoa Community School, and Drachman Montessori K-8 Magnet School. Other cultural opportunities include the Children s Museum Tucson and Museum of Contemporary Art. In addition to Armory Park, Santa Rita Park and Santa Rosa Recreation Center and Park offer sporting and recreational opportunities to local residents. All in all, benefits from an excellent location near a number of crucial economic and employment drivers. Cushman & Wakefield Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

5 Pro Forma TYPE # OF UNITS SQ. FT. TOTAL S.F. RENT PER S.F. TOTAL MONTHLY RENT STABILIZED RENT 1 BD 1 BA ,186 $0.82 $5,046 $841 1 BD 1.5 BA ,449 $0.58 $839 $839 2 BD 1 BA ,793 $0.46 $820 $820 2 BD 1.5 BA ,545 $0.60 $920 $920 2 BD 2 BA ,628 $0.57 $925 $925 Total/Avg. 10 1,260 12,601 $0.68 $8,550 $855 INCOME STATEMENT MARKETING PER UNIT PSF JUL 17-JUN 18 ACTUALS RENTAL INCOME Gross Market Rent $102,600 $10,260 $8.14 Vacancy Loss -$5, % ($0.41) Gross Rent $97,470 $9,747 $7.74 $102,221 Concessions & Bad Debt -$1, % ($0.12) $0 Net Rental Income $96,008 $9,601 $7.62 $102,221 Other Income $1,000 $100 $0.08 $0 TOTAL INCOME $97,008 $9,701 $7.70 $102,221 STABILIZED MARKET VALUATION Value $700,000 Per Unit $70,000 Per Square Foot $55.55 Cap Rate Jul '17-Jun '18 Actuals 8.10% Marketing Pro Forma 8.05% OPERATING EXPENSES Marketing $300 $30 $0.02 $682 General & Admin $4,000 $400 $0.32 $9,791 Repairs/Maintenance/Supplies $7,000 $700 $0.56 $6,124 Utilities $12,000 $1,200 $0.95 $12,022 TOTAL VARIABLE $23,300 $2,330 $1.85 $28,619 Property Taxes $5,043 $504 $0.40 $5,014 Property Insurance $3,500 $350 $0.28 $3,514 Management Fee $6,791 7% $0.54 $8,400 Reserves $2,000 $200 $0.16 $0 TOTAL EXPENSES $40,633 $4,063 $3.22 $45,547 NET OPERATING INCOME $56,375 $5,637 $4.47 $56,674 Cushman & Wakefield Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.