Barna Apartments 4525 BARNA AVENUE, TITUSVILLE, FL Property Highlights: Gross Scheduled Income $56,400. Proforma Scheduled Income $62,400

Transcription

1 Barna Apartments 4525 BARNA AVENUE, TITUSVILLE, FL Property Highlights: Gross Scheduled Income $56,400 Proforma Scheduled Income $62,400 Separately Metered for Water & Electricity JOE LAFLEUR JOHNNY PULLMAN Multifamily Investment Advisor Multifamily Investment Advisor

2 BARNA APARTMENTS 4525 BARNA AVENUE, TITUSVILLE, FL Executive Summary PROPERTY OVERVIEW OFFERING SUMMARY Sale Price: Price / Unit: Price / SF: Number Of Units: Cap Rate: NOI: Lot Size: Year Built: Building Size: Zoning: $499,000 $62,375 $ % $41, Acres ,600 SF 100Units.com presents the Barna Apartments which is an 8 unit multifamily complex, built in 1984, consisting of one, two-story apartment building. The apartment community has a total of approximately 6,600 gross square feet and is situated on 0.54 acres. There are 8 two bedroom/one bath units (825 square feet),. Each building is of wood frame construction with a flat shingled roof. Units are separately metered for water and electric. PROPERTY HIGHLIGHTS Gross Scheduled Income $56,400 Proforma Scheduled Income $62,400 Separately Metered for Water & Electricity Across From New Publix Shopping Center Central A/C R3 JOE LAFLEUR JOHNNY PULLMAN Multifamily Investment Advisor Multifamily Investment Advisor

3 Table of Contents FINANCIAL ANALYSIS 4 PROPERTY INFORMATION LOCATION INFORMATION SALE COMPARABLES DEMOGRAPHICS CONFIDENTIALITY & DISCLAIMER All materials and information received or derived from 100Units.com its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither 100Units.com its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. 100Units.com will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. 100Units.com makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. 100Units.com does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by 100Units.com in compliance with all applicable fair housing and equal opportunity laws.

4 Barna Apartments 4525 BARNA AVENUE, TITUSVILLE, FL FINANCIAL ANALYSIS Location Photos Rent Roll Unit Mix Summary Income & Expenses Financial Summary

5 FINANCIAL ANALYSIS Location Photos

6 FINANCIAL ANALYSIS Rent Roll UNIT NUMBER UNIT BED UNIT BATH UNIT SIZE (SF) CURRENT RENT CURRENT RENT (PER SF) MARKET RENT MARKET RENT/SF Unit H $575 $0.70 $650 $0.79 Unit G $630 $0.76 $650 $0.79 Unit F $575 $0.70 $650 $0.79 Unit E $595 $0.72 $650 $0.79 Unit D $600 $0.73 $650 $0.79 Unit C $575 $0.70 $650 $0.79 Unit B $575 $0.70 $650 $0.79 Unit A $575 $0.70 $650 $0.79 Totals/Averages 6,600 $4,700 $0.71 $5,200 $0.79

7 Enter summary here... BARNA APARTMENTS 4525 BARNA AVENUE, TITUSVILLE, FL FINANCIAL ANALYSIS Unit Mix Summary UNIT TYPE COUNT % TOTAL SIZE (SF) RENT RENT/SF MIN RENT MAX RENT MARKET RENT MARKET RENT/SF 2 Bdr 1 Bath $588 $0.71 $575 $630 $650 $0.79 Totals / Averages 8 100% 6,600 $4,704 $0.71 $4,600 $5,040 $5,200 $0.79 JOE LAFLEUR JOHNNY PULLMAN Multifamily Investment Advisor Multifamily Investment Advisor

8 FINANCIAL ANALYSIS Income & Expenses INCOME SUMMARY CURRENT PER UNIT TOTAL SCHEDULED INCOME $58,383 $7,297 VACANCY $475 $59 GROSS INCOME $57,908 $7,238 EXPENSE SUMMARY CURRENT PER UNIT Real Estate Taxes $5,158 $644 Insurance $4,450 $556 Utilities $727 $90 Repairs & Maintenance $2,542 $317 Management Fee $1,280 $160 Lawn Care & Pest Control $1,920 $240 License $359 $44 GROSS EXPENSES $16,436 $2,054 NET OPERATING INCOME $41,472 $5,184 OPERATING EXPENSE RATIO 28% 28%

9 FINANCIAL ANALYSIS Financial Summary INVESTMENT OVERVIEW CURRENT Price $499,000 Price per Unit $62,375 GRM 8.9 CAP Rate 8.3% Cash-on-Cash Return (yr 1) 8.96 % Total Return (yr 1) $33,908 Debt Coverage Ratio 2.97 OPERATING DATA CURRENT Gross Scheduled Income $56,400 Other Income $1,983 Total Scheduled Income $58,383 Vacancy Cost $475 Gross Income $57,908 Operating Expenses $16,436 Net Operating Income $41,472 Pre-Tax Cash Flow $27,510 FINANCING DATA CURRENT Down Payment $307,000 Loan Amount $192,000 Interest Rate 4.0% Amortization Period 20 yrs Debt Service $13,962 Debt Service Monthly $1,163 Principal Reduction (yr 1) $6,398

10 Barna Apartments 4525 BARNA AVENUE, TITUSVILLE, FL PROPERTY INFORMATION Property Description Property Details Property Photos Property Photos Property Photos Property Photos

11 PROPERTY INFORMATION Property Description LOCATION OVERVIEW Titusville is a city in Brevard County, Florida, which is nicknamed Space City, USA. A new aerospace company is set to bring 1,347 jobs over the next four years after it moves to Titusville. Another 900 jobs could be created in spin off or related work for those who once worked on the space shuttle program. That adds up to nearly $96 in payroll, and the economic impact is estimated $48. In addition to jobs, the contract for the new company requires Titusville and Brevard County to invest $32 to build a $400,000 square foot facility near the city's Space Coast Regional Airport. Titusville is the only place on the planet where rockets blast off, sea turtles nest and soothing sunrises give way to inviting surf. The contrast of hightech wonders of the space program and the natural beauty of the area places Titusville in a class by itself. Titusville is a city that borders the Indian River Lagoon, it s a gateway to the Kennedy Space Center Visitor Complex, the Canaveral National Seashore and the Merritt Island National Wildlife Refuge. Vacationers love visiting this city with our many riverfront parks, fantastic fresh and saltwater fishing, year-round golf, kayak rentals, five museums, dynamic restaurants and The Titusville Playhouse. Titusville is also a perfect overnight location for Port Canaveral cruise guests. The historic downtown Titusville area offers shops of all sorts including an art gallery, clothing and gift shops, charming restaurants and antique stores. You ll also find a nearby riverside park as well as several stellar restaurants. Within one mile of downtown is the Titusville Municipal Marina with a ships store, public boat ramp, picnic area, walking trail and dog park. A large seawall provides ideal viewing of manatee and dolphins.

12 PROPERTY INFORMATION Property Details PROPERTY NAME: Barna Apartments PROPERTY ADDRESS: 4525 Barna Avenue Titusville, FL APN: LOT SIZE: BUILDING SIZE: PARKING SURFACE: 0.54 AC 6,600 SF Concrete YEAR BUILT: 1984 NUMBER OF BUILDINGS: 1 NUMBER OF STORIES: 2 NUMBER OF UNITS: 8 FOUNDATION: CONSTRUCTION TYPE: Concrete Slab Wood Frame ROOF: Pitched Shingle - Replaced in 2008 HVAC: SEPARATE WATER METERS: SEPARATE ELECTRIC METERS Central Yes - Tenants Responsible Yes - Tenants Responsible

13 BARNA APARTMENTS 4525 BARNA AVENUE, TITUSVILLE, FL PROPERTY INFORMATION Property Photos JOE LAFLEUR JOHNNY PULLMAN Multifamily Investment Advisor Multifamily Investment Advisor

14 BARNA APARTMENTS 4525 BARNA AVENUE, TITUSVILLE, FL PROPERTY INFORMATION Property Photos JOE LAFLEUR JOHNNY PULLMAN Multifamily Investment Advisor Multifamily Investment Advisor

15 BARNA APARTMENTS 4525 BARNA AVENUE, TITUSVILLE, FL PROPERTY INFORMATION Property Photos JOE LAFLEUR JOHNNY PULLMAN Multifamily Investment Advisor Multifamily Investment Advisor

16 PROPERTY INFORMATION Property Photos

17 Barna Apartments 4525 BARNA AVENUE, TITUSVILLE, FL LOCATION INFORMATION Location Photos Regional Map Location Maps Retailer Map Aerial Map

18 LOCATION INFORMATION Location Photos

19 LOCATION INFORMATION Regional Map Barna Apartments

20 LOCATION INFORMATION Location Maps

21 LOCATION INFORMATION Retailer Map

22 LOCATION INFORMATION Aerial Map

23 Barna Apartments 4525 BARNA AVENUE, TITUSVILLE, FL SALE COMPARABLES Sale Comps Sale Comps Summary Sale Comps Map

24 BARNA APARTMENTS 4525 BARNA AVENUE, TITUSVILLE, FL SALE COMPARABLES Sale Comps SUBJECT PROPERTY 4525 Barna Avenue Titusville, FL Sale Price: $499,000 Year Built: 1984 Building SF: 6,600 SF Price PSF: $75.61 No. Units: 8 Price / Unit: $62,375 GRM: 8.85 Cap: 8.31% NOI: $41,472 RIVER GARDEN APARTMENTS 1710 S. Washington Ave Titusville, FL Sale Price: $1,125,000 Year Built: 1962 Building SF: 11,096 SF Price PSF $ No. Units 16 Price / Unit $70,312 Closed: 02/24/ Status: SOLD 2 HERITAGE APARTMENTS 1850 S. Park Ave Titusville, FL Sale Price: $2,750,000 Year Built: 1968 Building SF: 44,824 SF Price PSF $61.35 No. Units 56 Price / Unit $49,107 Closed: 07/12/ Status: SOLD 3 SOUTH ST APARTMENTS South St, #1-13 Titusville, FL Sale Price: $675,000 Year Built: 1981 Building SF: 11,182 SF Price PSF $60.36 No. Units 15 Price / Unit $45,000 Closed: 04/03/ JOE LAFLEUR JOHNNY PULLMAN Multifamily Investment Advisor Multifamily Investment Advisor

25 SALE COMPARABLES Sale Comps 4 TITUSVILLE GARDEN 1700 Palmetto St Titusville, FL Sale Price: $235,000 Year Built: 1981 Building SF: 3,604 SF Price PSF $65.21 No. Units 4 Price / Unit $58,750 Closed: 10/18/ Status: SOLD

26 SALE COMPARABLES Sale Comps Summary SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS Barna Apartments 4525 Barna Avenue Titusville, FL $499,000 6,600 SF $75.61 $62,375 8 SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS CLOSE River Garden Apartments 1710 S. Washington Ave Titusville, FL Heritage Apartments 1850 S. Park Ave Titusville, FL South St Apartments South St, #1-13 Titusville, FL Titusville Garden 1700 Palmetto St Titusville, FL $1,125,000 11,096 SF $ $70, /24/2017 $2,750,000 44,824 SF $61.35 $49, /12/2017 $675,000 11,182 SF $60.36 $45, /03/2017 $235,000 3,604 SF $65.21 $58, /18/2017 TOTALS/AVERAGES PRICE PRICE/SF PRICE/UNIT # OF UNITS $1,196,250 $67.67 $52,

27 SALE COMPARABLES Sale Comps Map SUBJECT PROPERTY 4525 Barna Avenue Titusville, FL RIVER GARDEN APARTMENTS S. Washington Ave Titusville, FL HERITAGE APARTMENTS S. Park Ave Titusville, FL SOUTH ST APARTMENTS South St, #1-13 Titusville, FL TITUSVILLE GARDEN Palmetto St Titusville, FL 32796

28 Barna Apartments 4525 BARNA AVENUE, TITUSVILLE, FL DEMOGRAPHICS Demographics Report Demographics Map

29 DEMOGRAPHICS Demographics Report 1 MILE 3 MILES 5 MILES Total households 2,469 12,776 20,877 Total persons per hh Average hh income $60,060 $61,446 $59,454 Average house value $200,159 $211,776 $220,054 1 MILE 3 MILES 5 MILES Total population 5,662 30,090 50,016 Median age Median age (male) Median age (female) MILE 3 MILES 5 MILES Total population - White 4,924 24,617 40,408 % White 87.0% 81.8% 80.8% Total population - Black 430 3,738 7,013 % Black 7.6% 12.4% 14.0% Total population - Asian % Asian 1.8% 2.3% 1.8% Total population - Hawaiian % Hawaiian 0.4% 0.1% 0.1% Total population - Indian % Indian 0.1% 0.2% 0.3% Total population - Other % Other 1.2% 1.0% 1.1% 1 MILE 3 MILES 5 MILES Total population - Hispanic 264 1,763 2,890 % Hispanic 4.7% 5.9% 5.8% * Demographic data derived from 2010 US Census

30 DEMOGRAPHICS Demographics Map POPULATION 1 MILE 3 MILES 5 MILES TOTAL POPULATION 5,662 30,090 50,016 MEDIAN AGE MEDIAN AGE (MALE) MEDIAN AGE (FEMALE) HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES TOTAL HOUSEHOLDS 2,469 12,776 20,877 # OF PERSONS PER HH AVERAGE HH INCOME $60,060 $61,446 $59,454 AVERAGE HOUSE VALUE $200,159 $211,776 $220,054 RACE 1 MILE 3 MILES 5 MILES % WHITE 87.0% 81.8% 80.8% % BLACK 7.6% 12.4% 14.0% % ASIAN 1.8% 2.3% 1.8% % HAWAIIAN 0.4% 0.1% 0.1% % INDIAN 0.1% 0.2% 0.3% % OTHER 1.2% 1.0% 1.1% ETHNICITY 1 MILE 3 MILES 5 MILES % HISPANIC 4.7% 5.9% 5.8% * Demographic data derived from 2010 US Census

31 Barna Apartments 4525 BARNA AVENUE, TITUSVILLE, FL Meet the Team 100units.com_2017 at 100units.com

32 Meet the Tea Meet the Team JUST RE- Joe LaFleur Mulitfamily Investment Advisor Johnny Pullman Mulitfamily Investment Advisor Nikky Schmidt Transaction Coordinator Alicia Wilde Research Analyst Jansen Bernuy Graphic Designer Stacy Nembhard Office Assistant

33 AUGUST 18, Compiled by Denise Hicks (407) LARGEST COMMERCIAL REAL ESTATE BROKERAGE FIRMS RANKED BY 2016 CENTRAL FLORIDA TOTAL DOLLAR VOLUME OF SALES AND LEASE TRANSACTIONS Company Website Address Telpehone 2016 total dollar volume of sales and lease transactions 2016 dollar volume of properties sold 2016 C. Fla. square feet sold 2016 dollar volume of properties leased Current amount of C. Fla. square feet leased 1 CBRE cbre.com/orlando 2 Cushman & Wakefield of Florida Inc. cushmanwakefield.com 200 S. Orange Ave. #2100 Orlando N. Orange Ave. #300 Orlando $1.67 billion $1.14 billion $1.22 billion $ $ $ Marcus & Millichap marcusmillichap.com 300 S. Orange Ave. #700 Orlando $ $ Not applicable Not applicable 4 Newmark Knight Frank/ARA ngkf.com 400 S. Park Ave. #220 Winter Park $633.2 $ ,737 $ JLL jll.com/orlando 250 S. Orange Ave. #700P Orlando $ $ ,103 $ HFF LP hfflp.com 300 S. Orange Ave. #1250 Orlando $ $ Not applicable Not applicable 7 Foundry Commercial foundrycommercial.com 420 S. Orange Ave. #950 Orlando $ $56.33 Not applicable $ Colliers International Central Florida colliers.com/orlando 255 S. Orange Ave. #1300 Orlando $ $114.5 Not applicable $ Not applicable 9 Lee & Associates-Central Florida LLC LeeCFL.com 1017 E. South St. Orlando $153 $74 808,000 $ Cite Partners citepartners.com 100 S. Orange Ave. #500 Orlando $ $ $ Avison Young avisonyoung.com 135 W. Central Blvd. #700 Orlando $ $ $ SRS Real Estate Partners srsre.com 200 S. Orange Ave. Orlando $ $ ,735 $ , The Shopping Center Group theshoppingcentergroup.com 2170 W. State Road 434 #250 Longwood $ $ ,112 $ NAI Realvest realvest.com 1800 Pembrook Dr. #350 Orlando $ $ $ , SVN Florida Commercial Real Estate Advisors svnflorida.com 174 W. Comstock Ave. Winter Park $97.76 $ ,615 $17 276, Highwoods Properties Inc. highwoods.com 201 S. Orange Ave. #400 Orlando $94.91 Not applicable Not applicable $ Millenia Partners millenia-partners.com 4192 Conroy Rd. Orlando $92 $65 265,000 $27 202, BishopBeale bishopbeale.com 250 N. Orange Ave. #1500 Orlando $76.73 $ $ , Crossman & Co. crossmanco.com 3333 S. Orange Ave. #201 Orlando $69.81 $ ,549 $ Units.com 100units.com 617 E. Colonial Dr. Orlando $54 $54 746,100 Not applicable Not applicable 21 Equity Investment Services eisre.com 7575 Dr. Phillips Blvd. #390 Orlando $53.32 $ ,620 $ Results Real Estate Partners LLC resultsrepartners.com 108 Commerce St. Lake Mary $52.42 $ ,110 $ , The Bywater Co. bywater.com 105 E. Robinson St. #200 Orlando $46.8 $ ,870 $ , Liberty Universal Management libertyum.com 314 E. Anderson St. Orlando $45.3 $ ,200 $ , Hold Thyssen Inc. holdthyssen.com 301 S. New York Ave. #200 Winter Park $40.64 $ ,477 $ ,821 ABOUT THE LIST Information on The List was supplied by individual companies through surveys Not all C. Fla.* companies responded to our inquiries by deadline. Only those that responded to our inquiries were listed. In case of ties, companies are listed alphabetically. WHAT CONSTITUTES CENTRAL FLORIDA? Central Florida includes Lake, Orange, Osceola and Seminole counties. NEED A COPY OF THE LIST? Information for obtaining reprints, Web permissions and commemorative plaques, call More information can be found online at OrlandoBusinessJournal.com by clicking the Buy tab near the top of the site.

34 at 100units.com At 100Units.com, we know that selling and buying multi-family properties can be a challenging process. Not only can this process be time consuming, but it can also become increasingly costly especially when you don t have a trusted expert by your side. That s why at 100Units.com, we are committed to providing our clients with the confidence and peace of mind that comes from working with a group of highly driven and passionate multifamily property investment advisors. Our specialized team simplifies the process of locating and purchasing apartment buildings by handling the research, analytics, and insights on your behalf. We take the time to evaluate your investment goals to help you attain the long-term success and results you want. For Sellers Marketing Strategy We combine comprehensive market research, state-of-the-art technology, and communications systems to target optimal buyers for your property. From print to multimedia, we ll customize a targeted campaign for your property that will maximize its value. Network of Buyers We work hard to earn the trust and confidence of buyers. In return, we have a vast network of domestic and international clients whom are always interested in purchasing additional properties. Clear Communication Communication is crucial for the success of any real estate transaction. As your listing agent, we will always keep you informed on the next step, what the other side is doing, and whether there are any red flags you should be concerned about. Proven Process Our objective as your multifamily advisor is to help you achieve your investments goals. We ll lend you our unique perspective on your situation and provide you with real time market analysis to help you stay ahead of every changing market trends. We ll also collect, study, evaluate, and share market data on an ongoing basis to help you make timely and informed decisions. From determining the listing price to conducting the closing, we ll facilitate a smooth transaction for you. For Buyers Expertise As well-established experts of the industry, we have a firm understanding of the local market and can advise you on the most potentially profitable properties available for purchase. Our focus is to work on behalf of your interests and get you the best results for your investment. Turnkey Solution Every real estate investor knows that the real work happens after closing. Our partnership with Florida Realty Investments ensures that every client has the comprehensive property management solutions they need to run their properties successfully. Opportunities As your multifamily advisor, our goal is to provide you with the insight and help you need to secure the best multifamily investment property. We take the time to determine your needs before identifying properties that can be considered for potential acquisition. We analyze market conditions, trends, and local competition to propose the best initial and counter-offers. From sourcing real estate investments and opportunities to protecting your financial interests during contract and closing, our team at 100Units.com will help you attain the best possible investment for your money.