Klineline Residential Rental Portfolio New Construction Attached Homes 4 Attached Single-Family Units Patrick Ginn Owner Principal Broker Ginn Realty Group 360-600-8813 patrick@ginnrealtygroup.com
Table of Contents I. Project Summary & Bulk Listing Details II. III. IV. Map & Location Schools & Community Rental Management V. Financial Information VI. Site Plans VII. Included Floor Plans VIII. Included Features & Finishes Ginn Realty Group Klineline Rental Portfolio 2
I. Project Summary & Portfolio Summary A gated community, the Klineline Townhomes neighborhood consists of a total of 40 homes. This Klineline Portfolio consists of up to 4 Residential Units currently under construction in Vancouver, Washington. Vancouver, Washington features one of the fastest appreciating rental markets in the entire nation. https://www.apartmentlist.com/rentonomics/july-2015-national-rental-price-monitor/ http://www.oregonlive.com/front-porch/index.ssf/2015/09/vancouver_had_nations_fastest-.html http://www.columbian.com/news/2016/jun/30/newcomers-flock-to-clark-county/ This turn-key, new construction project is a perfect opportunity for investors. Extra thought and planning was put into the design and construction knowing they would be long-term rentals requiring durable and long lasting features. General Property Information Address: Location: Ownership: Management Company: 11208 NE 14 th Court Vancouver, WA 98685 Conveniently located just East of I-5 and South of the I-5/I-205 Intersection in Vancouver, Washington. Klineline Rentals, LLC Ginn Property Management, LLC, which is affiliated with the Seller/Builder. Project Status: Construction to Start on November 1 st, 2017. Portfolio Summary (see page 9 for details on individual floorplans) Units Offered for Sale: up to 4 units Date built: 2017/2018 Sales Price: Varies by package (Up to $1,016,727.00) Annual Net Operating Income: Varies by package (Up to $55,920.00) Projected Capitalization Rate (2017): Pro forma 5.50% (Based on projected rents & expenses in surrounding areas) Lease type: To be 12 months or longer leases at market rate No rent controls. Ginn Realty Group Klineline Rental Portfolio 3
II. Map & Location Klineline is located in North Vancouver, WA just across the Columbia River from Portland, OR. This ideal location benefits from its close proximity to both the Portland International Airport (17 miles away) and downtown Portland (14 miles away) as well as being just blocks away from the Salmon Creek Regional Park that includes Klineline Pond and the popular Salmon Creek Greenway Trail. Tenants of Klineline can enjoy the absence of both a state income tax in Washington and a sales tax in Oregon. The Greater Portland/Vancouver metropolitan area is growing as new residents are attracted to a robust local economy and the lifestyle that the Pacific Northwest has to offer. Ginn Realty Group Klineline Rental Portfolio 4
II. Schools & Community Community Information Neighborhood: Shopping: Parks & Recreation: Salmon Creek/Felida Chuck s Produce Safeway WinCo Salmon Creek Regional Park Klineline Pond Salmon Creek Greenway Trail School Information School District: High School: Middle School: Elementary School: Secondary Education: Vancouver School District Columbia River High School 800 NW 99 th Street Vancouver, WA 98665 Jefferson Middle School 3000 NW 119 th Street Vancouver, WA 98685 Sacajawea Elementary School 700 NE 112 th Street Vancouver, WA 98685 Clark County Skills Center 12200 NE 28 th Street Vancouver, WA 98682 Clark College 1933 Fort Vancouver Way Vancouver, WA 98683 Washington State University Vancouver 14204 NE Salmon Creek Avenue Vancouver, WA 98686 Ginn Realty Group Klineline Rental Portfolio 5
IV. Rental Management Typical Fees in Clark County for this type of project Monthly Management Fee: 6% of the payable monthly gross receipts from the premises, payable the following month for the duration of the agreement. Set-up Fee per Unit: $35 Lease renewal fee: $99 Maintenance Billed at: Property Inspection Survey prior to Lease renewal (optional): Security Deposits (To be transferred to new owner) $54.95/hour $74.95/survey Approx. 1 month rent or more based on tenant profile. (Credit, rental history, pets, etc) Note: Seller/Builder manages its properties internally through a related entity Ginn Property Management, LLC. Utility Information Tenant is Responsible for All Utilities Landlord pays HOA dues per pro-forma, which includes front landscaping. Ginn Realty Group Klineline Rental Portfolio 6
V. Financial Projected Cap Rate is Approximately 5.50% based on the package See attached spreadsheet detailing the different packages Cap rate is projected at 5.50% Ginn Realty Group Klineline Rental Portfolio 7
Klineline - 4-Plex Option Lot BD/BA Sq. Ft. Rent MGMT (5%) Taxes Insurance Vacancy Factor (2%) Turnover cost/ Reserves (3%) Misc repairs and maintenance Neighorhood HOA Monthly NOI Annual NOI 27 3/2.5 1486 $ 1,625.00 $ 81.25 $ 250.00 $ 30.00 $ 32.50 $ 48.75 $ 10.00 $ 75.00 $ 1,097.50 $ 13,170.00 28 3/2.5 1653 $ 1,775.00 $ 88.75 $ 250.00 $ 30.00 $ 35.50 $ 53.25 $ 10.00 $ 75.00 $ 1,232.50 $ 14,790.00 29 3/2.5 1653 $ 1,775.00 $ 88.75 $ 250.00 $ 30.00 $ 35.50 $ 53.25 $ 10.00 $ 75.00 $ 1,232.50 $ 14,790.00 30 3/2.5 1486 $ 1,625.00 $ 81.25 $ 250.00 $ 30.00 $ 32.50 $ 48.75 $ 10.00 $ 75.00 $ 1,097.50 $ 13,170.00 6278 $ 6,800.00 $ 340.00 $ 1,000.00 $ 120.00 $ 136.00 $ 204.00 $ 40.00 $ 300.00 $ 4,660.00 $ 55,920.00 Annually $ 81,600.00 $ 4,080.00 $ 12,000.00 $ 1,440.00 $ 1,632.00 $ 2,448.00 $ 480.00 $ 3,600.00 $ 55,920.00 List price 4 units $ 1,016,727.28 NOI $ 55,920.00 Cap Rate 5.50% Tenant pays all utilities
VI. Overall Site Plan The Klineline Plat consists of 40 lots. This sale package consists of 4 lots/units each featuring two story units in a Gated Community. Lots included in this bulk package: (1) 4-Plex: Lots 27-30 Klineline Plat/Site Plan: Klineline is a Gated Community with additional parking. Ginn Realty Group Klineline Rental Portfolio 8
VII. Included Floorplans 1486 Plan Lots 27 & 30 Bedrooms: 3 Bathrooms: 2 Full 1 Half Est. Square Feet 1,486 Garage: 2 Car *Actual photos (interior/exterior) of similar homes built are available for each plan by request via Dropbox Ginn Realty Group Klineline Rental Portfolio 9
1653 Plan Lots 28 & 29 Bedrooms: 3 Bathrooms: 2 Full, 1 Half Est. Square Feet: 1,653 Garage: 1 Car *Actual photos (interior/exterior) of similar homes built are available for each plan by request via Dropbox. Ginn Realty Group Klineline Rental Portfolio 10
VIII. Included Features Unit Features & Finishes Design Criteria Great Room Concept Floor Plans with Natural Light Walk-In Closet in the Master Bedroom Fully Wrapped Windows with Enamel Trim Quality Exterior Features Craftsman Front Elevation 7-8 Overhead Garage Steel Door w/garage door Opener 10 Year Warranty Upgraded Du Pont Tyvek Wrap (Brochure Available Upon Request) 30 Year Warranty James Hardi Plank Siding & Trim Boards (Brochure Available Upon Request) 30 Year Warranty IKO Asphalt Shingle Roof Lifetime Warranty Cascade Windows Self Lock w/ Low-E Glass in Almond Color (Brochure Available Upon Request) Concrete Patio (size varies per plan) Galvanized Steel Gutters and Downspouts Fully Fenced Backyard Front Yard Landscape Plumbing Electrical Energy Efficiency 50 Gallon Hot Water Heater Ice Maker Connection in the Kitchen 1 2 Horsepower Garbage Disposal at Kitchen Sink Oil Rubbed Bronze Designer Plumbing Fixtures Central Air Conditioning Copper Electrical Wiring Wiring for TV and Cable in the Great Room and Master Designer Light Package in Oil Rubbed Bronze Abundant Recessed Can Lighting 96% Efficient Electric Furnace Located in Attic Residential Programmable Thermostat w/smart Fan Stainless Steel Frigidaire Appliances Meets All Requirements of Current Model Energy Code Detailed Interior Finishes Ultra-Durable Luxury Vinyl Tile (LVP) Flooring in Entry, Kitchen & Great Room (Brochure Available Upon Request) Tile Floors in Bathrooms and Utility Room Rounded Drywall Corners Craftsman Enamel Painted Trim Package Two Panel Interior Doors Color Coordinated Slab Granite Countertops in Kitchen FHA/VA Approved Carpet Ginn Realty Group Klineline Rental Portfolio 11
Unit Features & Finishes (continued) Designer Selected Paint Colors to Accent Finishes Sliding Glass Doors to Patio Structural Integrity Kitchen Elegance Bathroom Selections Individual Site Inspection on each Building Site Foundation Engineered to Specific Soil Conditions Slab on Grade Flatwork in the Garage Crawl Space Finished with Vents, Mechanical Vents and Vapor Barrier as Required Per Code. 36 High Alder Shaker Cabinets Concealed Cabinet Hinges Polished, Stainless Steel Double Bowl Under-mount Sink Single Handle Stainless Kitchen Faucet w/sprayer Slab Granite Countertops Full Tile Backsplash Pre-Plumbed for Ice Maker Stainless Steel Frigidaire Electric Stainless Steel Stove, or equivalent Stainless Steel Frigidaire Microwave/Hood above Stove, or equivalent Stainless Steel Frigidaire Dishwasher, or equivalent Stainless Steel Frigidaire Refrigerator, or equivalent Rubbed Oil Bronze Faucets Stand up Shower Insert with Seats Double Vanity in Master Bath Slab Granite Countertops Full Width Vanity Mirrors 36 High Vanities in Master Bath Rubbed Oil Bronze Hardware Glass Shower Doors in Master Bathroom Additional Conveniences Solid Wood Closet Shelving in All Areas (No Wire) Windows with Self-Lock Closing System Integrated Carbon Monoxide and Smoke Detector System Refrigerator Window Coverings 2 Faux Wood Blinds Ginn Realty Group Klineline Rental Portfolio 12
Request Additional Information To request additional information about this opportunity as well as other residential investment opportunities within Southwest Washington, please contact Patrick Ginn. Patrick Ginn Owner Principal Broker Ginn Realty Group 360-600-8813 patrick@ginnrealtygroup.com www.ginndevelopment.com Ginn Realty Group Klineline Rental Portfolio 13