MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ Danny Lee Vice President Investment Advisor

MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 Danny Lee Vice President Investment Advisor 480.425.5522 danny.lee@svn.com

Property Summary OFFERING SUMMARY Sale Price: Number Of Units: Proforma Cap Rate: Price/Unit: Lot Size: Year Built: Building Size: PROPERTY HIGHLIGHTS $2,100,000 24 6.00% $87,500 0.53 Acres 1981 12,800 SF Zoning: R-4 Market: Phoenix Submarket: Price / SF: East Phoenix $164.06 Value Add Through Light Interior Upgrades Potential to Add Stackable Washer & Dryers Inside Units Mixtures of One and Two Bedroom Units Individually Metered For Electricity Beautiful Low Maintenance Desert Landscaping Frame & Stucco Construction, 1981 Built No Barriers to New Financing High Demand East Phoenix Rental Market Excellent Drive By Visibility on 32nd Street Close Proximity to Camelback Corridor Easy Access Freeway Loop 202, State Route 51 & 143 Expressway MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 SVN Desert Commercial Advisors Page 2

Property Details SALE PRICE $2,100,000 LOCATION INFORMATION Building Name Majestic Palms Street Address 1920 N 32nd St City, State, Zip Phoenix, AZ 85008 County/Township Maricopa/Maricopa Market Phoenix Submarket East Phoenix Cross Streets 32nd Street & Thomas Rd PROPERTY DETAILS Property Type Multifamily Property Subtype Low-Rise/Garden Zoning R-4 Lot Size 0.53 Acres APN# 120-20-048C Submarket East Phoenix PARKING & TRANSPORTATION Parking Type Covered & Uncovered Surface Spaces BUILDING INFORMATION Building Size 12,800 SF Number Of Floors 2 Year Built 1981 Parking Surface Asphalt Framing Wood Roof Built-up Roofs Number Of Buildings 1 Walls Stucco Foundation Concrete UTILITIES & AMENITIES Heating / Cooling Hot Water Individual Roof Mounted Units Individual Hot Water Units MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 SVN Desert Commercial Advisors Page 3

Property Amenities COMMUNITY FEATURES Separate Leasing Office On-Site Laundry Facility Individual Workshop Unit Lighted Walkways and Common Areas UNIT AMENITIES Fully Appointed Kitchens with Electric Appliances Frost Free Refrigerators Ceiling Fan in Dining Area Linen Closets Vertical Blinds Tiles Flooring in Most Units MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 SVN Desert Commercial Advisors Page 4

Additional Photos Exterior MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 SVN Desert Commercial Advisors Page 5

Additional Photos Interior MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 SVN Desert Commercial Advisors Page 6

Unit Mix Summary UNIT TYPE COUNT % TOTAL SIZE (SF) ASKING RENT RENT/SF 1x1 20 83.3 500 $725 $1.45 2x1 4 16.7 700 $795 $1.14 Totals/Averages 24 100% 12,800 $17,680 $1.38 MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 SVN Desert Commercial Advisors Page 7

Financial Summary INVESTMENT OVERVIEW ADJUSTED EXPENSES Price $2,100,000 Price per Unit $87,500 GRM 9.9 CAP Rate 6.0% Cash-on-Cash Return (yr 1) 6.0 % Total Return (yr 1) $126,068 Debt Coverage Ratio - OPERATING DATA ADJUSTED EXPENSES Gross Scheduled Income $212,160 Other Income $6,912 Total Scheduled Income $219,072 Vacancy Cost $21,216 Gross Income $197,856 Operating Expenses $71,788 Net Operating Income $126,068 Pre-Tax Cash Flow $126,068 FINANCING DATA ADJUSTED EXPENSES Down Payment $2,100,000 Loan Amount - Debt Service - Debt Service Monthly - Principal Reduction (yr 1) - MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 SVN Desert Commercial Advisors Page 8

Income & Expenses INCOME SUMMARY ADJUSTED EXPENSES PER UNIT Annual Gross Potential Rent $212,160 $8,840 Other Income $6,912 $288 Gross Income $219,072 $9,128 EXPENSE SUMMARY ADJUSTED EXPENSES PER UNIT General & Administrative $6,506 $271 Sales Tax $757 $31 Maintenance & Repairs $20,000 $833 Utilities $16,000 $666 Management Fee $9,893 $412 Insurance $4,320 $180 Property Taxes $8,312 $346 Replacements & Reserves $6,000 $250 Gross Expenses $71,788 $2,991 Net Operating Income $126,068 $5,252 MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 SVN Desert Commercial Advisors Page 9