8-Unit Multi-Family Investment 2920 SE Ash Street, Portland, Oregon 97214 CLOSE-IN SE MULTI-FAMILY INVESTMENT PROPERTY 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 Photos- Basement / Laundry Room 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.
28 th Avenue / Laurelhurst Neighborhood Photos Laurelhurst Theater Whole Foods Market Ken's Artisan Pizza Crema Bakery & Cafe Laurelhurst Park Laurelhurst Park 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: $1,075,000 Down Payment: 40% $430,000 Number of Units: 8 Location 2920 SE Ash St Portland, Oregon 97214 Financing Summary New Multi-Family Loan in the amount of Price/Unit: $134,375 $645,000 Building/SF: 5,849 at 5.25% Principal and Interest Amortized over 30 Years Price/SF $184 Current Cap: 5.12% Market Cap: 6.08% Parcel ID Current GIM 11.8 Lot Size Market GIM 10.4 Utilities paid by Tenant Additional Information R316854 0.80 Acre (3,485 SF) Electricity Year Built: 1916 INCOME Annualized Operating Data Annualized Expenses Current Market 2018 Estimated % EGI Per Unit EXPENSES Scheduled Rent Income $92,820 $105,840 Taxes $7,640 - $955 Pet Rent/Storage/Laundry $1,095 $1,095 Insurance $2,504 - $313 Scheduled Gross Income $93,915 $106,935 Water & Sewer $3,420 - $428 Less: Vacancy (3%) ($2,817) ($3,208) Trash/Recycling $2,455 - $307 Effective Gross Income $91,098 $103,727 Common Gas & Electricity $1,646 - $206 Less: Expenses ($36,062) ($38,335) Management $7,288 8.00% $911 Net Operating Income $55,035 $65,392 Maintenance & Repairs $5,466 6.00% $683 Turnover & Cleaning $3,644 4.00% $455 Year 1 Debt Service ($42,741) ($42,741) Reserves $2,000 - $250 Pre-Tax Cash Flow $12,295 $22,651 Principal Reduction $9,095 $9,095 Total Expenses $36,062 39.6% $4,508 Total Return 5.0% $21,390 7.4% $31,746 Cash Yield 2.9% $12,295 5.3% $22,651 Scheduled Income Current Market Total Units Unit Type Approximate SF/Unit Rent Rent/PSF Rent Rent PSF 1 1BR-1BA 825 SF $1,225 $1.48 $1,395 $1.69 6 1BR-1BA 400-550 SF $800 - $1,200 $2.00 - $2.18 $925 - $1295 $2.31 - $2.36 1 Studio 460 SF $795 $1.73 $995 $2.16 8 $7,735 $8,820 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 ROLL Unit Unit Type Sq. Ft. Current Rent 1 1BR/1BA 475 $1,050 2 Studio 460 $795 3 1BR/1BA 475 $850 4 1BR/1BA 400 $800 (1/1/19) 5 1BR/1BA 550 $1,200 6 1BR/1BA 475 $815 (1/1/19) 7 1BR/1BA 400 $1,000 8 1BR/1BA 825 $1,225 TOTAL: $7,735 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.
AERIAL 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.
RENT SURVEY PROPERTY LOCATION Laurel Ash Apts 2920 SE Ash St YEAR BUILT TOTAL # OF UNITS UNIT TYPE 1916 8 1 1BR/1BA 6 1BR/1BA 1 Studio UNIT SF 825 400-550 460 CURRENT RENT RENT/PSF SOURCE PHOTO $1225 $1.48 Owner $800 - $1200 $2.00 - $2.18 $795 $1.73 *Subject Property Laurel View Apts 236 SE 32nd Ave 1928 14 1BR/1BA 484 $1250 $50 W/S/G Bill Back $2.58 Craigslist 9/27/18 Kent Apts 904 SE 20th Ave 1923 9 1BR/1BA 600 $1395 $2.33 Craigslist 9/20/18 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 503 SE 12th Ave YEAR BUILT TOTAL # OF UNITS UNIT TYPE UNIT SF 1904 Studio 400 $1050 $2.63 Craigslist 9/20/18 CURRENT RENT RENT/PSF SOURCE PHOTO Poplar Apts 2434 SE Ankeny St 1912 18 Studio Studio 517 296 $1245 $985 $2.41 $3.33 Craigslist 9/20/18 & $60 W/S/G Bill Back Laurelhurst Manor 3710 SE Stark St 1947 12 1BR/1BA 597 $1325 $2.22 Craigslist 8/16/18 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 3622 SE Harrison St YEAR BUILT TOTAL # OF UNITS UNIT TYPE UNIT SF 1941 6 1BR/1BA 485 $1125 $2.32 Craigslist 8/8/18 CURRENT RENT RENT/PSF SOURCE PHOTO Sherman Court 2010 SE Sherman St 1927 10 1BR/1BA 553 $1225 $2.22 Craigslist 7/27/18 Oriental Apts 3562 SE Harrison St 1926 16 1BR/1BA 760 $1495 & $85 W/S/G Bill Back $1.97 Craigslist 7/27/18 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 Laurel Ash Apts 2920 SE Ash St YEAR BUILT # UNITS UNIT MIX / COMMENTS 1916 8 1 1BR/1BA 6 1BR/1BA 1 Studio PRICE / PRICE / PRICE UNIT SF CAP RATE SOLD PHOTO $1,075,000 $134,375 $184 5.12% TBD *Subject Property Classic Vintage Walk-Up in the Heart of SE Portland 2500 NE Weidler St Portland, OR 97232 1941 10 2 2BR/1BA 8 1BR/1BA $1,850,000 $185,000 $231 4.34% April 2018 2620 SE Ash St 1956 8 2 2BR/1BA 6 1BR/1BA $1,205,000 $150,625 $202 NA Nov 2017 Medea Apts 1702 SE Main St 1906 8 6 1BR/1BA 2 Studio $1,160,000 $145,000 $181 NA Oct 2017 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 5110 SE Carlton St Portland, OR 97206 YEAR BUILT # UNITS UNIT MIX / COMMENTS 1970 5 1 3BR/1BA 4 2BR/1BA PRICE / PRICE / PRICE UNIT SF CAP RATE SOLD PHOTO $650,000 $130,000 $147 NA Oct 2017 1326 SE Center St Portland, OR 97202 1966 7 3 2BR/1BA 4 1BR/1BA $1,010,000 $144,286 $168 NA March 2017 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.