15 UNIT MULTIFAMILY BUILDING FOR SALE 810 SALZEDO STREET CORAL GABLES, FL

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1 15 UNIT MULTIFAMILY BUILDING FOR SALE 810 SALZEDO STREET CORAL GABLES, FL Marcelo Llorente Commercial Director Mobile: (305) Matthew Llorente Managing Broker Mobile: (305) Global Group Realty Majorca Ave. STE 2 Coral Gables, FL Office: Fax:

2 TABLE OF CONTENTS I. INTRODUCTION II. PROPERTY OVERVIEW III. INVESTMENT HIGHLIGHTS IV. LOCATION OF PROPERTY V. MARKET DEMOGRAPHICS VI. RENT ROLL VII. INCOME & EXPENSES (ACTUAL & PROFORMA) VIII. RECENT COMPARABLE SALES IX. OFFERING PROCEDURE X. DISCLAIMER

3 INTRODUCTION Global Group Realty is pleased to exclusively offer for sale this 15 unit apartment building in the heart of Coral Gables. The asset consists of twelve 2 bed/1 Bath units and three 1 Bed/1 Bath units. Two of the apartments have been completely renovated with new wood cabinets, tile floors, granite counter tops and updated bathrooms. The 15,381 SF building sits on an 11,000 SF lot and has 15 parking spaces. Recent upgrades to the building include new hurricane impact windows and doors, renovated elevator, resurfaced pool, new exterior paint and much more. All units have central air conditioning. The property offers great upside potential.

4 Property Overview

5 SUMMARY OF PROPERTY GENERAL DESCRIPTION OFFERING PRICE: $5,000,000 LOCATION: ADJ. BUILDING SQUARE FOOTAGE: 810 Salzedo Street Coral Gables, FL ,381 SF LOT SIZE: 11,000 SF (0.25 Acres) DESCRIPTION: 15 Unit Multifamily Building YEAR BUILT: 1969 PARKING: 15 Parking Spaces Parcel ID:

6 Investment Highlights

7 INVESTMENT HIGHLIGHTS 810 Salzedo Street is a remarkable opportunity for a well-qualified investor to acquire a 15 unit multifamily building in the heart of Coral Gables. It consists of twelve 2 Bed/1 Bath units and three 1 Bed/1 Bath units. All apartments have central air conditioning and spacious floor plans. The one bedroom units measure approximately 700 SF and the two bedroom units measure about 825 SF. The property has 15 parking spaces which is uncommon for a building of this size in Coral Gables. Recent upgrades include hurricane impact windows and doors, new exterior paint, remodeled elevator, resurfaced pool and much more. Two of the units have been completely renovated with new kitchen cabinets, stainless steel appliances, granite counter tops, tile flooring and updated bathroom. This asset offers steady cash flow with incredible upside potential. The property is located just north of SW 8 th Street and one block west of Ponce de Leon Blvd. It is walking distance to world class restaurants, hotels, Downtown Coral Gables and Miracle Mile. Mass transportation is within walking distance of the building, including the free Coral Gables trolley. The property is in close proximity to major expressways, making it easily accessible to Miami International Airport, Coconut Grove, Downtown Miami and Miami Beach. The city of Coral Gables is known as the corporate capital of the Americas. George Merrick, its founder, predicted in 1925 that Coral Gables would someday be the gateway to Latin America. The city has a wide variety of multinational corporations. Coral Gables is the regional headquarters of approximately 155 of those corporations. Over 100 countries have corporate addresses in Coral Gables. Its economy is made up of local and international businesses. The city is considered one of the premium residential markets in South Florida.

8 810 Salzedo Street Coral Gables, FL 33134

9 810 Salzedo Street Coral Gables, FL 33134

10 810 Salzedo Street Coral Gables, FL 33134

11 810 Salzedo Street Coral Gables, FL 33134

12 810 Salzedo Street Coral Gables, FL 33134

13 810 Salzedo Street Coral Gables, FL 33134

14 Location of Property

15 810 Salzedo Street Coral Gables, FL 33134

16 810 Salzedo Street Coral Gables, FL 33134

17 Market Demographics

18 MARKET DEMOGRAPHICS Population for 1 Mile Radius from Subject Property

19 MARKET DEMOGRAPHICS Demographic Overview: 1 Mile Radius from Subject Property Source: 2010 Census / US Census Bureau Source: 2013 American Community Survey, 5 year estimates / US Census Bureau

20 Rent Roll

21 810 Salzedo Street Coral Gables, FL Bedroom/Bath Scheduled Potential Rent Rent Unit 10 2Bed/1Bath $1,500 $1,950 Unit 11 2Bed/1Bath $1,500 $1,950 Unit 12 2Bed/1Bath $1,500 $1,950 Unit 14 1Bed/1Bath $1,400 $1,600 Unit 15 2Bed/1Bath $1,600 $1,950 Unit 20 2Bed/1Bath $1,550 $1,950 Unit 21 2Bed/1Bath $1,500 $1,950 Unit 22 2Bed/1Bath $1,500 $1,950 Unit 23 2Bed/1Bath $1,550 $1,950 Unit 24 1Bed/Bbath $1,450 $1,600 Unit 30 2Bed/1Bath $1,550 $1,950 Unit 31 2Bed/1Bath $1,500 $1,950 Unit 32 2Bed/1Bath $1,800 $1,950 Unit 33 2Bed/1Bath $1,500 $1,950 Unit 34 1Bed/1Bath $1,400 $1,600 Total Monthly Rent $22,800 $28,200

22 Income & Expenses

23 INCOME & EXPENSES OFFERING PRICE: $5,000,000 Income & Expenses Current Proforma Potential Gross Income 273, ,400 Vacancy 3% (Projected) 8,208 10,152 Effective Rental Income 265, ,248 Other Income (Laundry Income) 3,600 3,600 Effective Gross Income 268, ,848 Operating Expenses Real Estate Taxes 33,883 Insurance 9,553 Electric 2,730 Waste Removal 3,587 Landscaping 600 Water & Sewer 7,863 Elevator Phone 1,740 Fire Alarm 428 Elevator Maintenance 1,591 Pool Service 1,680 Licenses & Permits 639 Professional Fees 262 Repair & Maintenance 5,000 Management Fee 6,600 Total Operating Expenses 76,156 Net Operating Income 192, ,692 Cap. Rate at Offering Price: 3.85% Proforma Cap. Rate at Offering Price: 5.11%

24 Recent Comparable Sales

25 COMPARABLE PROPERTIES

26 Offering Procedure

27 OFFERING PROCEDURE Offers must specify the following information: PRICE: LENGTH OF INSPECTION PERIOD: LENGTH OF CLOSING PERIOD: DEPOSIT: ADDITIONAL DEPOSIT DUE AT INSPECTION EXPIRATION: SUBMIT OFFERS TO: Marcelo Llorente Matthew Llorente Commercial Director Managing Broker Mobile: (305) or Mobile: (305) Majorca Ave. STE 2 Coral Gables, FL Office: (305) Fax: (305)

28 DISCLAIMER THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited use, in considering whether to pursue negotiations to purchase 810 Salzedo Street Coral Gables, FL (the Property ) from Global Group Realty( Broker representing the Owner ). This confidential memorandum contains brief, selected information pertaining to the business and affairs of the Property. All projections are based on assumptions relating to the general economy, competition and other factors beyond the control of Owner and are therefore subject to variation. This confidential memorandum does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire and shall not be relied on as a promise or representation as to the future performance of the Property. Owner expects prospective purchasers to exercise independent due diligence in verifying all information. Neither the Owner, or any of its directors or employees or Global Group Realty makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto. This confidential memorandum shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business or affairs of the Property since the date of preparation of this memorandum. By your receipt of this confidential memorandum, you agree that the information contained herein is of a confidential nature and you will not disclose this memorandum or any part of the contents to any other person, firm or entity without prior authorization from Global Group Realty. Photocopying or other duplication is not authorized.

29 Marcelo Llorente Commercial Director Mobile: (305) Matthew Llorente Managing Broker Mobile: (305) Thank You

FOR SALE. Mixed Use Value Add. Tony Arellano P.A SW 27th Avenue, Miami FL Managing Partner (C) (O)

FOR SALE. Mixed Use Value Add. Tony Arellano P.A SW 27th Avenue, Miami FL Managing Partner (C) (O) FOR SALE Mixed Use Value Add 1960 SW 27th Avenue, Miami FL Tony Arellano P.A. Managing Partner This information has been secured by DWNTWN Realty Advisors, LLC. from sources believed to be reliable. It