WASHINGTON APARTMENTS ASKING PRICE $2,100, ACRES 27,028 SF TOTAL. Michael Kilman

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1 WASHINGTON APARTMENTS ASKING PRICE $2,100, ACRES 27,028 SF TOTAL 1

2 CONTENTS OVERVIEW 3 PROPERTY PHOTOS 4 AERIAL MAP 5 STREET MAP 6 FINANCIAL SUMMARY 7 RENT ROLL 8 COMMUNITY OVERVIEW 9 COMPANY SUMMARY 10 2

3 OVERVIEW Well maintained building, built with quality construction. This structure was built in 1973 and features 38-1 bedroom and 2-2 bedroom units. PROPERTY HIGHLIGHTS Great visibility Daily Traffic Counts 15, Parking Spaces New Roof New Fire Alarm System Cameras with DVR Installed (3 added in 2013) New Commercial Hot Water Heaters 2009 Wheel Chair Ramp Added to Back Entrance 2006 Replaced NE and NW Entry Doors 2002 New Windows and Boiler system with weatherization program PROPERTY SUMMARY Asking Price: $2,100,000 Year Built: 1973 Lot Size:.78 Acres Total SF: 27,028 SF LOCATION HIGHLIGHTS High traffic counts High demand affordable housing for seniors Close to public transportation and Hospital Near Foxconn development 3

4 PROPERTY PHOTOS Kenosha, WI

5 AERIAL MAP 5

6 STREET MAP 6

7 FINANCIAL SUMMARY HISTORICAL Monthly Income $25, $27, Annualized Income $302,138 $333,483 Less Vacancy (5%) Actual < 2%AVG $15, $16,674 Effective Gross Income $287, $316,809 Repairs and Maintenance $27,224 $43,251 Cleaning $1,609 $2,416 Real Estate Taxes $38,719 $38,301 Insurance $8,514 $11,606 Utilities - Water/Sewer/Gas/Electric $34,942 $35,229 Landscaping $3,446 $1,788 Snow Removal $652 $744 Trash Removal $5,789 $2,940 Appliance Purchase and Repair $7,409 $2,197 Painting $1,950 $4,684 Management Fee (5%) $15,107 $16,674 Total Expenses $145,361 $159,830 NET INCOME $141,670 $156,979 EXPENSES 7

8 RENT ROLL Unit # Unit Type Current Rent Move-in Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Unit # Unit Type Current Rent Move-in Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $ Bed $

9 COMMUNITY OVERVIEW Racine and Kenosha Counties have had strong growth over the past few years with no signs of slowing down. Wisconsin tax structure supports business growth. With business growth comes a housing demand. Right now we are at historical lows for housing inventory. Low inventory is raising rents and keeping vacancy low. This has never been a better time to take advantage of an asset such as the one in this offering. DEMOGRAPHICS Zip code Racine County Wisconsin POPULATION 28, ,071 5,795,000 MEDIAN HH INCOME $42,391 $56,359 $56,811 MEDIAN AGE HOUSEHOLDS 10,449 75,291 2,330,000 DAILY TRAFFIC 15,000 CARS PER DAY ON STREET 9

10 COMPANY SUMMARY Prime Realty Group is a local independent firm founded in 2004 by Robert J. Morrone. Robert is the Broker/Owner of Prime Realty Group and Huxhold Builders LLC. With our partner company Huxhold Builders we are also able to offer residential new construction. Our firm has a team of 14 agents to serve all your real estate needs. We specialize in Commercial, Vacant Land, Multifamily, Residential and New Construction Sales. Our team primarily serves Racine and Kenosha Counties. Michael is a life long Kenosha Native that is dedicated to excellence. His passion in Real Estate is primarily Commercial and income properties but also serves clients in any type of real estate transaction. 10

11 WASHINGTON APARTMENTS PRIME REALTY GROUP 5300 GREEN BAY ROAD KENOSHA, WI