10-Unit Multi-Family Investment 1922 Alabama Street & 306 20 th Avenue, Longview, WA 98623 MULTI-FAMILY INVESTMENT OFFERING 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.
Longview City 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: $569,000 Down Payment: 25% $142,250 Number of Units: 10 Location 1922 Alabama Street & 306 20th Avenue Longview, WA 98623 Financing Summary New Multi-Family Loan in the amount of Price/Unit: $56,900 $426,750 Building/SF: 7,500 at 4.50% Principal and Interest Amortized over 25 Years Price/SF $76 Current Cap: 6.72% Market Cap: 7.83% Parcel ID Additional Information R025246 & R052835 Current GIM 9.2 Lot Size 0.12 Acre (5,200 SF) Market GIM 8.2 Utilities paid by Tenant Electricity Year Built: 1926 INCOME Annualized Operating Data Annualized Expenses Current Market 2017 Estimate % EGI Per Unit EXPENSES Scheduled Rent Income $64,020 $71,400 Taxes $2,514 - $251 Misc. Income Garage $1,200 $1,200 Insurance $1,730 - $173 Scheduled Gross Income $65,220 $72,600 Water/Sewer & Trash $9,998 - $1,000 Less: Vacancy (5%) ($3,261) ($3,630) Common Electricity $800 - $80 Effective Gross Income $61,959 $68,970 Management $3,098 5.00% $310 Less: Expenses ($23,738) ($24,439) Maintenance & Repairs $1,859 3.00% $186 Net Operating Income $38,221 $44,531 Turnover & Cleaning $1,239 2.00% $124 Reserves $2,500 - $250 Year 1 Debt Service ($28,464) ($28,464) Pre-Tax Cash Flow $9,757 $16,067 Principal Reduction $9,454 $9,454 Total Expenses $23,738 38.3% $2,374 Total Return 13.5% $19,211 17.9% $25,521 Cash Yield 6.9% $9,757 11.3% $16,067 Scheduled Income Current Market Total Units Unit Type Approximate SF/Unit Rent Rent/PSF Rent Rent PSF 1 2BR-1BA 650 SF $680 $1.05 $725 $1.12 5 1BR-1BA 500 SF $495 - $590 $0.99 - $1.18 $625 $1.25 4 Studio 425 SF $440 - $485 $1.04 - $1.14 $525 $1.24 10 $5,335 $5,950 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 PROPERTY LOCATION 1922 Alabama St & 306 20 th Ave Longview, WA 98623 YEAR BUILT TOTAL # OF UNITS UNIT TYPE 1926 10 1 2BR/1BA 5 1BR/1BA 4 - Studio UNIT SF 650 500 425 CURRENT RENT RENT/PSF SOURCE PHOTO $680 $1.05 Owner $495 - $590 $0.99 - $1.18 $440 - $485 $1.04 - $1.14 *Subject Property 3019 Dover St 1976 5 2BR/1BA 800 $900 $1.13 RMLS 9/19/17 964 8 th Ave 1975 5 2BR/1BA 800 $988 $1.24 RMLS 9/19/17 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.
PROPERTY LOCATION 816 Broadway St YEAR BUILT TOTAL # OF UNITS UNIT TYPE UNIT SF 1948 2 1BR/1BA 510 $640 $1.25 RMLS 11/23/16 CURRENT RENT RENT/PSF SOURCE PHOTO 640 Olson Road 1972 72 1BR/1BA 440 $525 $1.19 trulia.com 11/10/16 1615 10 th Ave 1971 6 1BR/1BA 420 $525 $1.25 RMLS 10/28/16 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.
RECENT SALES COMPARABLES PROPERTY LOCATION 1922 Alabama St & 306 20 th Ave Longview, WA 98623 YEAR BUILT # UNITS UNIT MIX / COMMENTS PRICE PRICE / UNIT PRICE/SF SOLD PHOTO 1926 10 1 2BR/1BA $569,000 $56,500 $76 TBD 5 1BR/1BA 4 - Studio *Subject Property 953 8th Ave 1971 10 2 3BR/1BA 8 2BR/1BA $685,000 $68,500 $77 Aug 2017 1924 Dorothy St 1974 5 1 3BR/1BA 4 2BR/1BA $300,000 $60,000 $70 Nov 2016 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.
PROPERTY LOCATION 1615 10th Ave YEAR BUILT # UNITS UNIT MIX / COMMENTS PRICE PRICE / UNIT PRICE/SF SOLD PHOTO 1971 6 1 3BR/2BA $427,000 $71,167 $83 Oct 2016 1 3BR/1BA 2 2BR/1BA 2 1BR/1BA 3308 Maple St 1970 5 5 2BR/1BA $349,900 $69,980 $74 Oct 2016 1917 33rd Ave 1973 5 5 2BR/1BA $300,000 $60,000 $70 Oct 2016 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.