10-Unit Multi-Family Investment 4522-4608 SE 29th Avenue, Portland, Oregon 97202 MULTI-FAMILY INVESTMENT ANALYSIS 136 NE 28 th Avenue Portland, Oregon 97232 503-327-8237 Office 503-954-3087 Fax www.equitypacificrealestate.com
Subject Property Exterior Photos This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Subject Property Interior Photos This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Subject Property Interior Photos This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Subject Property Interior Photos This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
INVESTMENT SUMMARY Summary Price: $1,975,000 Down Payment: 50% $987,500 Number of Units: 10 Location 4522-4608 SE 29th Avenue Portland, Oregon 97202 Financing Summary New Multi-Family Loan in the amount of Price/Unit: $197,500 $987,500 Building/SF: 8,390 at 5.00% Principal and Interest Amortized over 30 Years Price/SF $235 Current Cap: 4.31% Market Cap: 6.93% Parcel ID Current GIM 15.1 Lot Size Market GIM 10.5 Utilities paid by Tenant Additional Information R159365, R159366, R159367 0.56 Acre (25,000 SF) Electricity Year Built: 1962 INCOME Annualized Operating Data Annualized Expenses Current Market 2017 Actual % EGI Per Unit EXPENSES Scheduled Rent Income $132,000 $186,600 Taxes $18,284 - $1,828 RUBS/Pet Rent/Laundry $2,400 $7,560 Insurance $2,108 - $211 Scheduled Gross Income $134,400 $194,160 Water & Sewer $5,845 - $585 Less: Vacancy (3%) ($4,032) ($5,825) Trash/Recycling $1,481 - $148 Effective Gross Income $130,368 $188,335 Gas & Electricity $608 - $61 Less: Expenses ($45,166) ($51,543) Management $6,518 5.00% $652 Net Operating Income $85,202 $136,792 Maintenance & Repairs $5,215 4.00% $521 Turnover & Cleaning $2,607 2.00% $261 Year 1 Debt Service ($63,613) ($63,613) Reserves $2,500 - $250 Pre-Tax Cash Flow $21,588 $73,179 Principal Reduction $14,569 $14,569 Total Expenses $45,166 34.6% $4,517 Total Return 3.7% $36,157 8.9% $87,748 Cash Yield 2.2% $21,588 7.4% $73,179 Scheduled Income Current Market Total Units Unit Type Approximate SF/Unit Rent Rent/PSF Rent Rent PSF 9 2BR-1BA 825 SF $1,000 - $1,300 $1.21 - $1.58 $1,595 $1.93 1 1BR-1BA 600 SF $900 $1.50 $1,195 $1.99 10 $11,000 $15,550 This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
RENT SURVEY 4522 SE 29 th Ave BUILT TOTAL # OF UNITS UNIT TYPE 1962 10 9 2BR/1BA 1 1BR/1BA UNIT SF 825 600 CURRENT RENT RENT/PSF SOURCE PHOTO $1000 - $1300 $1.21 - $1.58 Owner $900 $1.50 *Subject Property 3006 SE 21 st Ave 1964 2 2BR/1BA 800 $1595 $1.99 Craigslist 7/9/18 Holgate Lofts 1424 SE Holgate Blvd 1972 20 2BR/1BA 750 $1545 $2.06 Craigslist 7/9/18
3302 SE 15th Ave BUILT TOTAL # OF UNITS UNIT TYPE UNIT SF 1972 2 2BR/1BA 780 $1795 $2.30 Craigslist 6/25/18 CURRENT RENT RENT/PSF SOURCE PHOTO 3824 SE Lafayette Ct 1952 2 2BR/1BA 792 $1595 $2.01 Craigslist 5/3/18 3968 SE Gladstone St 1950 4 1BR/1BA 550 $1100 $2.00 Craigslist 4/25/18
4235 SE 16th Ave BUILT TOTAL # OF UNITS UNIT TYPE UNIT SF 1968 4 2BR/1BA 800 $1450 $1.81 Craigslist 3/2/18 CURRENT RENT RENT/PSF SOURCE PHOTO 1334 SE Boise St 1968 8 1BR/1BA 616 $1295 $2.10 Craigslist 3/2/18
RECENT MULTI-FAMILY SALES COMPARABLES 4522 SE 29 th Ave BUILT # UNITS UNIT MIX / COMMENTS 1962 10 9 2BR/1BA 1 1BR/1BA PRICE / PRICE / PRICE UNIT SF CAP RATE SOLD PHOTO $1,975,000 $197,500 $235 4.31% TBD *Subject Property Cedar Breaks Apts 4032 SE Holgate Blvd 1973 10 2 2BR/1.5BA 8 2BR/1BA $2,050,000 $205,000 $258 5.24% Active Golden Key Manor 1726 NE Hancock St Portland, OR 97212 SOLD by 1966 10 2 3BR/1BA 4 2BR/1BA 4 1BR/1BA $2,150,000 $215,000 $234 5.06% July 2018 1943 NE Tillamook St Portland, OR 97212 1961 6 6 2BR/1BA $2,025,000 $337,500 $338 4.43% July 2018
1131 SE 17th Ave Portland, OR 97214 BUILT # UNITS UNIT MIX / COMMENTS 1966 6 2 2BR/1BA 4 1BR/1BA PRICE / PRICE / PRICE UNIT SF CAP RATE SOLD PHOTO $1,200,000 $200,000 $239 5.38% March 2018 3454 SE Cora Dr 1972 6 5 2BR/1BA 1 1BR/1BA $1,222,500 $203,750 $225 4.30% March 2018 335 SE 16 th Ave Portland, OR 97214 1922 10 8 1BR/1BA 2 Studio $2,200,000 $220,000 $260 4.10% March 2018 1512 SE Hawthorne Portland, OR 97214 1972 6 4 2BR/1BA 2 1BR/1BA $1,200,000 $200,000 $154 NA Oct 2017
RECENT PLEX SALES COMPARABLES 4522 SE 29 th Ave UNIT MIX / PRICE / PRICE / BUILT # UNITS COMMENTS PRICE UNIT SF SOLD PHOTO 1962 2 2 2BR/1BA $395,000 $1975,000 $235 TBD *Subject Property 1737 NE 22nd Ave Portland, OR 97212 1952 4 4 2BR/1BA $1,100,000 $275,000 $286 April 2018 2149 NE Clackamas St Portland, OR 97232 1908 4 1 2BR/1BA 2 1BR/1BA 1 Studio $850,000 $212,500 $262 March 2018
919 NE Alberta St Portland, OR 97211 UNIT MIX / PRICE / PRICE / BUILT # UNITS COMMENTS PRICE UNIT SF SOLD PHOTO 1943 4 4 1BR/1BA $980,000 $245,000 $281 March 2018 731 SE Linn St 1966 2 2 2BR/1BA $560,000 $280,000 $315 Jan 2018 3713 SE Holgate Blvd 1980 2 2 2BR/1BA $475,000 $237,500 $266 Jan 2018
1943 SE Harney St UNIT MIX / PRICE / PRICE / BUILT # UNITS COMMENTS PRICE UNIT SF SOLD PHOTO 1959 2 2 2BR/1BA $525,000 $262,500 $346 Nov 2017 2012 SE Tenino St 1973 2 2 2BR/1BA $500,000 $250,000 $306 June 2017 3427 SE Cora Dr 1970 2 2 2BR/1BA $510,000 $255,000 $281 May 2017