FOR SALE $995,000 MultiFamily PROPERTY HIGHLIGHTS 8 Multifamily Units and 2000sqft of Retail All utilities individually seperated Fantastic Downtown location Modern, updated units 209 S 19th Street, Suite 675 Omaha, Nebraska 68192 4023175697 (p) www.sagecapitalinvestments.com Executive Vice President jdenker@sagecapitalinvestments.com NE#20140150
Table of Contents Property Description... 3 Property Photos... 4 Real Estate Investment Details... 5 Executive Summary... 6 Pro Forma Summary... 7 Unit Mix Report... 8 Demographics... 9 Location Map... 10
Property Description Live, Work, Play and an immediate rental upside Sage Capital Real Estate is pleased to offer the Colony Apartments. The property is located off 18th and Jackson Street in Downtown Omaha. The Property was completely renovated in 2011, with modern kitchens, stainless steel appliances, and inunit Washer and Dryer. All plumbing and electrical have been replaced throughout the building, with new electric meters and new, individual water meters. All utilities are separated and paid by tenants. The Colony Apartments, consists of six (6) One Bedroom and two (2) Two Bedroom units, along with 2,000sqft of available retail space. Please contact with Sage Capital Real Estate for additional information. 48 hours notice is required for a showing. page 3 of 10
Property Photos The Colony Apartments 2 Bedroom unit Shown, All units share the same finish Exterior off 18th Street Modern Kitchen Spacious Living Area Bedroom Bathroom 2 Bedroom Unit Shown page 4 of 10
Real Estate Investment Details Analysis Analysis Date November 2016 Property Property Property Address Year Built 2011 The Colony Purchase Information Property Type MultiFamily Purchase Price $995,000 Fair Market Value $995,000 Units 9 Total Rentable Sq. Ft. 9,300 Resale Valuation 3.0% (annual appreciation) Financial Information Down Payment $199,000 Loans Type Debt Term Amortization Rate Payment LO Costs Fixed $796,000 25 years 25 years 4.25% $4,312 Income & Expenses Gross Operating Income $85,500 Monthly GOI $7,125 Total Annual Expenses ($24,541) Monthly Expenses ($2,045) Contact Information jdenker@sagecapitalinvestments.com NE#20140150 The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections and analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or other professional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax or other professional area before making any decisions. page 5 of 10
Executive Summary ACQUISITION COSTS Purchase Price, Points and Closing Costs $995,000 Investment - Cash $199,000 First Loan $796,000 INVESTMENT INFORMATION Purchase Price $995,000 Price per Unit $110,556 Price per Sq. Ft. $106.99 Income per Unit $10,000 Expenses per Unit ($2,727) INCOME, EXPENSES & CASH FLOW Gross Scheduled Income $90,000 Total Vacancy and Credits ($4,500) Operating Expenses ($24,541) Net Operating Income $60,959 Debt Service ($51,747) Cash Flow Before Taxes $9,212 FINANCIAL INDICATORS Cash on Cash Return Before Taxes 4.63% Debt Coverage Ratio 1.18 Capitalization Rate 6.13% Gross Rent Multiplier 11.06 Gross Income / Square Feet $9.68 Gross Expenses / Square Feet ($2.64) Operating Expense Ratio 28.70% page 6 of 10
Pro Forma Summary UNIT MIX & ANNUAL SCHEDULED INCOME Type Units Actual Total Market Total 614 S 18th 1br 6 $10,200 $61,200 $11,400 $68,400 614 S 18th 2br 2 $14,400 $28,800 $14,400 $28,800 614 S 18th Retail 1 $0 $0 $24,000 $24,000 TOTALS 9 $90,000 $121,200 INVESTMENT SUMMARY Price: $995,000 Year Built: 2011 Units: 9 Price/Unit: $110,556 RSF: 9,300 Price/RSF: $106.99 Lot Size: 4,000 sf ANNUALIZED INCOME Actual Market Gross Potential Rent $90,000 $121,200 Less: Vacancy ($4,500) ($6,060) Effective Gross Income $85,500 $115,140 Less: Expenses ($24,541) ($37,571) Net Operating Income $60,959 $77,569 Debt Service ($51,747) ($51,747) Net Cash Flow after Debt Service $9,212 $25,822 Principal Reduction $18,270 $18,270 Total Return $27,482 $44,092 Floors: 4 Cap Rate: 6.13% Market Cap Rate: 7.8% GRM: 11.06 Market GRM: 8.21 FINANCING SUMMARY Loan Amount: $796,000 Down Payment: $199,000 Loan Type: Fixed Interest Rate: 4.25% Term: 25 years Monthly Payment: $4,312 DCR: 1.18 ANNUALIZED EXPENSES Actual Market Property Management Fee $5,400 $7,272 Building Insurance $6,000 $7,200 Grounds Maintenance $1,200 $2,700 Janitorial $1,200 $1,800 Maintenance $4,000 $6,000 Taxes - Real Estate $5,326 $10,249 Trash Removal $995 $1,800 Utilities $420 $550 Total Expenses $24,541 $37,571 Expenses Per RSF $2.64 $4.04 Expenses Per Unit $2,727 $4,175 Retail space currently vacant. page 7 of 10
Unit Mix Report UNIT MIXES Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly 6 614 S 18th 1br 850 $850 $5,100 $950 $5,700 2 614 S 18th 2br 1100 $1,200 $2,400 $1,200 $2,400 1 614 S 18th Retail 2000 $0 $0 $2,000 $2,000 9 9,300 $7,500 $10,100 UNIT MIX UNIT MIX SQUARE FEET 614 S 18th 1br 614 S 18th 2br 614 S 18th Retail 614 S 18th 1br 614 S 18th 2br 614 S 18th Retail UNIT MIX INCOME UNIT MIX MARKET INCOME 614 S 18th 1br 614 S 18th 2br 614 S 18th Retail 614 S 18th 1br 614 S 18th 2br 614 S 18th Retail page 8 of 10
Demographics Population Characteristic 1 Mile 3 Mile 5 Mile AGES 0-4 1,366 9,930 22,115 AGES 5-9 1,300 10,902 24,944 AGES 10-14 970 8,850 20,825 AGES 15-19 793 7,837 18,909 AGES 20-24 1,107 7,867 18,667 AGES 25-29 1,538 8,386 18,826 AGES 30-34 1,824 8,907 19,100 AGES 35-39 1,836 9,222 19,255 AGES 40-44 1,660 9,095 19,331 AGES 45-49 1,401 8,668 18,959 AGES 50-54 1,148 7,778 17,506 AGES 55-59 1,002 6,843 15,563 AGES 60-64 844 5,590 12,880 AGES 65-69 628 4,188 9,955 AGES 70-74 451 3,007 7,302 AGES 75-79 342 2,118 5,164 AGES 80-84 239 1,384 3,290 AGES 85+ 427 2,658 6,233 Race Characteristic 1 Mile 3 Mile 5 Mile Non Hispanic White 12,088 79,203 184,171 Population Black 1,829 18,637 44,868 Population Am In/AK Nat 138 607 1,061 Household Income 1 Mile 3 Mile 5 Mile Median Household Income $29,228 $33,730 $36,829 < $10000 1,498 6,823 11,685 $10000-$14999 527 4,150 8,587 $15000-$19999 581 3,303 6,865 $20000-$24999 730 3,794 8,196 $25000-$29999 538 3,287 8,147 $30000-$34999 278 3,345 7,813 $35000-$39999 401 3,162 6,409 $40000-$44999 485 3,084 6,749 $45000-$49999 325 2,166 5,346 $50000-$60000 540 3,527 8,377 $60000-$74000 311 4,026 10,490 $75000-$99999 451 4,048 9,868 $100000-$124999 64 1,601 3,796 $125000-$149999 35 860 1,724 $150000-$199999 30 532 1,351 > $200000 93 403 1,206 Characteristic Housing 1 Mile 3 Mile 5 Mile Housing Units 8,463 53,052 114,766 Occupied Housing Units 6,640 46,435 103,038 Owner Occupied Housing Units 1,302 20,901 55,115 Renter Occupied Housing Units 5,338 25,534 47,923 Vacant Housing Units 1,823 6,617 11,728 page 9 of 10
Location Map page 10 of 10