CLOVERDALE VILLAGE / / / NW CLOVER ROAD CONCORD, NC 28027

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1 CLOVERDALE VILLAGE / / / NW CLOVER ROAD CONCORD, NC Kyle Kennedy, CAM Associate Advisor Jim Juhl Senior Advisor Spencer Crigler Associate Advisor SVN Commercial Real Estate Advisors West Catawba Avenue Suite 102, Charlotte, NC SALE BROCHURE

2 Executive Summary OFFERING SUMMARY Sale Price: $1,575,000 Number Of Units: 12 Cap Rate: 5.6% NOI: $88,254 Year Built: 2001 PROPERTY OVERVIEW The sell includes 4 Duplex's consisting of 8 rental units on four individual lots as well as 4 additional single family homes. The property is well maintained by the owner/developer. Current rents are below market, providing rental upside for the new owner. Investor demand for multifamily continues to be strong for all asset classes, especially those with value add opportunities in the Charlotte/Concord Market. PROPERTY HIGHLIGHTS 100% Occupancy Rental Upside in a Hot Market Close Proximity to major employment centers, retail, Concord Mills Mall, downtown Concord, and Charlotte Motor Speedway Quick and Easy access to Charlotte and the NC Triad via Interstate 485/85 Major Value Add potential Submarket: Concord CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 2

3 Location Description LOCATION OVERVIEW Great location in a residential neighborhood near downtown Concord. The property is located near shopping and entertainment. Cloverdale is located close to Concord Mills Mall and Charlotte Motor Speedway. Quick and easy access to Charlotte via Intestate 85. Charlotte/Concord is a top regional performer. The job market is strong, with growth in incomes and employment. These numbers are near the top statewide and above the U.S average. A rise in the labor force is preventing the unemployment rate from decreasing. Income growth is energizing the housing/ rental markets. CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 3

4 Rent Roll UNIT NUMBER UNIT BED UNIT BATH UNIT SIZE (SF) LEASE START CURRENT RENT (PER SF) MARKET RENT MARKET RENT/SF CURRENT RENT ,062 Current $0.71 $1,000 $0.94 $ ,062 Current $0.71 $1,000 $0.94 $ ,062 Current $0.75 $1,000 $0.94 $ ,062 Current $0.75 $1,000 $0.94 $ ,062 Current $0.75 $1,000 $0.94 $ ,062 Current $0.75 $1,000 $0.94 $ ,062 Current $0.85 $1,100 $1.04 $ ,062 Current $0.85 $1,100 $1.04 $ ,200 Current $0.88 $1,200 $1.00 $1, ,200 Current $0.88 $1,200 $1.00 $1, ,200 Current $1.12 $1,500 $1.25 $1, ,200 Current $0.92 $1,200 $1.00 $1,100 Totals/Averages 13,296 $0.83 $13,300 $1.00 $11,045 CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 4

5 Regional Map CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 5

6 Location Maps CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 6

7 CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 7

8 Retailer Map CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 8

9 Local Schools CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 9

10 Demographics Map POPULATION 1 MILE 5 MILES 10 MILES Total population 3,207 80, ,597 Median age Median age (male) Median age (Female) HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES Total households 1,056 29, ,124 # of persons per HH Average HH income $87,665 $81,230 $69,565 Average house value $278,169 $237,061 $224,271 * Demographic data derived from 2010 US Census CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 10

11 Additional Photos CLOVERDALE VILLAGE 2585 CLOVER ROAD CONCORD, NC SVN Commercial Real Estate Advisors Page 11

12 Additional Photos CLOVERDALE VILLAGE 2585 CLOVER ROAD CONCORD, NC SVN Commercial Real Estate Advisors Page 12

13 Cloverdale Village CLOVERDALE VILLAGE 2585 CLOVER ROAD CONCORD, NC SVN Commercial Real Estate Advisors Page 13

14 Advisor Bio & Contact 1 KYLE KENNEDY, CAM Associate Advisor PROFESSIONAL BACKGROUND Multifamily specialist representing buyers and sellers of investment properties in the Charlotte area, and throughout North Carolina. Kyle graduated from Virginia Tech with a degree in Real Estate and Residential Property Management in After College Kyle pursued his Real Estate career in Charlotte, NC. He has the CAM(Certified Apartment Manager) designation and 4 years of Property Management/Commercial Real Estate experience. His expertise in Apartments allows Kyle to critique a property from the inside out, giving his clients a full understanding of the property on the investment side, market in which the property is located, and strategy for best management practices. Kyle Determines his clients needs and financial abilities in order to propose solutions that suit them best while always keeping his clients interest first. Having the experience, skills, and extensive market knowledge throughout Charlotte, and the allows him to analyze properties in order to propose solutions that meet his clients best interest. Kyle has delivered results for owners of individual properties and apartment portfolios. He is an expert on REO dispositions, acquisitions, and new development. EDUCATION West Catawba Avenue Suite 102 Charlotte, NC T C kyle.kennedy@svn.com NC # Virginia Polytechnic Institute and State University ( ) Bachelor of Science (BS) Residential Property Management, Real Estate "Graduates find themselves employed in various aspects of the industry including management, operations, marketing, human resources, development, and acquisitions. Each year, only a few students in the world graduate with degrees that prepare them specifically for these positions. Students in the RPM option are exposed to all aspects of the property management field through a curriculum that includes specific property management courses, as well as general business, housing, and real estate courses. Graduates enter the profession with a broad understanding of the issues and challenges faced by the multifamily housing industry, as well as extensive first-hand experience gained through required internships offered by companies throughout the United States". MEMBERSHIPS & AFFILIATIONS CRCBR CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 14

15 Advisor Bio & Contact 2 JIM JUHL Senior Advisor PROFESSIONAL BACKGROUND Jim Juhl serves as advisor for Sperry Van Ness, specializing in the sale of multi-family properties in Charlotte, and the Carolinas. Serving apartment owners since 2004, Juhl has developed an extensive knowledge of the apartment market. He has delivered results for owners of individual properties and apartment portfolios. He is an expert on REO dispositions. Juhl is driven to exceed expectations. In order to deliver results, he actively listens to his clients to better understand the requirements beyond the transaction West Catawba Avenue Suite 102 Charlotte, NC T C jim.juhl@svn.com NC # CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 15

16 Advisor Bio & Contact 3 SPENCER CRIGLER Associate Advisor PROFESSIONAL BACKGROUND Spencer recently graduated from the University of North Carolina at Charlotte as a Bachelor of Science in Business Administration in Marketing. He is a hardworking and driven young individual with a bright mind and familiar with commercial real estate trends. Specializing in retail investment sales and leasing, the marketing background helps bring the most prospective clients to the table. His great networking connections through BNI also separates himself from the rest of the competition by being more than just a broker, but a reliable businessman that can provide a multitude of professionals to assist any clients needs. Spencer was awarded "Rookie of the Year" in 2016 in his first 6 months as a broker! Stands by 3 important values for commercial real estate; Integrity, Honesty and Expertise! West Catawba Avenue Suite 102 Charlotte, NC T C spencer.crigler@svn.com NC # CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC SVN Commercial Real Estate Advisors Page 16