4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

1

4193 Illinois Street, San Diego, CA 92104

Brian Raynoha, MBA - #01798711 President/Principal 858.869.9290

Scott Edelstein - #02043672 Investment Associate 619.630.9327

Prime North Park location

Each unit is 1,000+ SF with private patio

Renovated Turn Key Property

Low Maintenance

Offers off-street parking and storage rooms

www.ApartmentAdvisorsInc.com | 2525 Camino Del Rio S #155, San Diego, CA 92108

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

2

Property Breakdown

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

3

Property Overview

Property Address 4193 Illinois Street

San Diego, CA 92104

Assessor Parcel No. 446-322-01-00

Lot Size 5,002 SF/0.12 acres

*Estimated - Buyer to verify

Building Size 4,196 SF

*Estimated - Buyer to verify

Unit No. 4

Year Built 1964; Renovated 2015/2016

Unit Mix (3) 2 Bed/1.5 Townhome; 1,025 SF

(1) 3 Bed/1.5 Bath Townhome; 1,125 SF

Highlights Spacious units, approximately 1,000 sqft

each; 4 on-site parking spaces.

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

4

Property Breakdown

Recent Improvements

Popcorn ceiling removed

Refurbished kitchens

New kitchen cabinets & stainless steel appliances

Quartz counter tops w/ subway tile back splash.

Vinyl wood plank flooring

Stainless steal double sinks

GFCIs in kitchen and baths

New Vanity in downstairs half bath

Designer mirrors (Downstairs bath)

New toilets (new everything; Downstairs bath)

Stairs are carpeted

3 bedroom unit has custom iron railing

Carpet upstairs

New vanities in 3 of the bathrooms

New lighting; new fans

New Electrical

Grounded and new Breaker boxes, new GFCIs

Plumbing is copper; was replumbed by previous owner

New windows

Building was painted

Newly landscaped

New fencing

New pavers; new concrete for portion of parking and

sidewalk

Laundry is leased - Month to Month agreement

Just a 12 minute drive to Down-

town San Diego or 30 minute com-

mute via public transportation. Lo-

cated close by to varies restaurants

and shopping stores that make run-

ning errands a breeze.

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

5

Property Breakdown

Be ahead of the game! Don’t miss out on this investment opportunity right around the corner from

a variety of multi-family unit developments! Where would you rather buy investment property?

Where business and development is booming or where the area is unchanged or underdeveloped.

This property has a lot to offer. Not only is it a prime location, but the units are spacious with

plenty of room! There are (3) 2 bed/1.5 baths with a SF of 1,025 and a (1) 3 bed/1.5 baths with a

SF of 1,125! Units have been completely updated including new exterior paint, newly landscaped

and new paved concrete. Previous owner replumbed the plumbing and new electrical work has

been done! This won’t last!

Check out new development projects in North Park:

North Park Property Sells For $2.4 M - San Diego Business Journal

Apartment Complex Sold For $10.7M - San Diego Business Journal

Church Sells North Park Property For Future Development - San Diego Business Journal

Developer's Good Neighbor Policy Pays Off for Project - San Diego Business Journal

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

6

Financials

INVESTMENT SUMMARY

Units Address City APN

4 San Diego 446-322-01-00

Price $ / Unit Parking

$1,679,000 Current Market Current Market

15.91 15.13 3.94% 4.25% $419,750 4 Spaces

$ / Square Foot Gross Sq. Ft. Parcel Size Yr. Built Lot

(Approx.) Average size (Approx.) (Approx.) Zoning (+/-) Dimmensions

$400.14 1,049 5,596 RM-1-2 1964 105 X 46

Monthly Annual

1 2 bed 1.5 Bath $2,200 $2,200 $180 $2,400

1 2 bed 1.5 Bath $2,100 $2,100 $80 $1,200

1 2 bed 1.5 Bath $2,100 $2,100 $0 $0

1 3 bed 1.5 Bath $2,395 $2,395 $75 $300

$25 $495

$250 $3,000

Total Monthly Income $8,795 $0 $0

$463 $5,550

$0 $0

$0 $0

3 2 bed 1.5 Bath $2,250 $6,750 $133 $1,600

1 3 bed 1.5 Bath $2,450 $2,450 $175 $2,100

$1,679 $20,148

Laundry $50 Total Estimated Expenses $3,060 $36,793

Total Market Monthly Income $9,250

Current Market

Gross Scheduled Income $105,540 $111,000 Down Payment $750,000

Less: Vacancy Factor 2.50% $2,639 $2,775 Proposed Financing: $929,000

Gross Operating Income $102,902 $108,225 Interest Rate: 5.00%

Less: Expenses $36,793 $36,793 Amortized over: 30

Net Operating Income $66,109 $71,432 Debt Coverage Ratio: 1.10

LTV 55%

Less: 1st TD Payments ($59,845) ($59,845)

Pre-Tax Cash Flow $6,264 $11,587 $0.00

Cash on Cash Return 0.84% 1.54% Total Capital $750,000.00

Principal Reduction $13,706 $13,706

Total return before tax shelter 2.66% 3.37%

CAP Rate

Market Cap Rate Including

Annual Operating Proforma

Zip

4193 Illinois St

GRM

92104

Caplital Improvments

Financing Summary

4,196

4.25%

(Estimated)

Annual Operating Expenses

Spa/Pool

Management (Off Site) 5%

Market Monthly Income

Maintenance

Management (On Site)

Current Monthly Income

Water & Sewer

Gas & Electric

Trash Removal

Landscaping

Pest Control

Capital Improvemtns

Miscellaneous

Reserves

Insurance

Taxes

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

7

Sales Comparables

Sale Price $1,447,000 # Units Unit Type

Units 4 4 2 Bed 1 Bath

Price/Unit $361,750

Building Sqft 2,428

Price/Sqft $596

Market Cap Rate 4.58%

Sale Date 2/16/2018 Market GRM 14.39

Year Built 1929

Notes:

Sale Price $1,408,125 # Units Unit Type

Units 4 2 2 Bed 1 Bath Hse

Price/Unit $352,031 2 1 Bed 1 Bath

Building Sqft 2,824

Price/Sqft $499

Market Cap Rate 4.40%

Sale Date 3/2/2018 Market GRM 14.76

Year Built 1939

Notes:

5 garages; Full-size lot; Only house have in-unit laundry

All units have been fully renovated; Garage per unit; private yards; In-unit laundry

San Diego, CA 92104

4382-4388 Ohio Street

2502-2508 Wightman Street

San Diego, CA 92104

* Adjusted Buyer Credited commision

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

8

Sales Comparables

Sale Price $1,420,000 # Units Unit Type

Units 4 1 3 Bed 2 Bath

Price/Unit $355,000 1 2 Bath 2 Bath

Building Sqft 3,101 2 1 Bed 1 Bath

Price/Sqft $458

Market Cap Rate 4.41%

Sale Date 3/6/2018 Market GRM 14.61

Year Built 1940

Notes:

Sale Price $1,350,000 ` # Units Unit Type

Units 4 4 2 Bed 1 Bath

Price/Unit $337,500

Building Sqft 3,224

Price/Sqft $419

Market Cap Rate 3.98%

Sale Date 11/1/2017 Market GRM 15.63

Year Built 1943

Notes:

4473-79 North Avenue

San Diego, CA 92116

4 Garages; Courtyard property with each unit with large deck with exclusive-use yards

4529-4535 Wilson Ave

San Diego, CA 92116

Private yards; 4 On-site parkingspaces; In-unit laundry

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

9

Sales Comparables

Sale Price $1,679,000 ` # Units Unit Type

Units 4 3 2 Bed 1 Bath TWN

Price/Unit $419,750 1 1 Bed 1 Bath

Building Sqft 3,450

Price/Sqft $469

Market Cap Rate 4.06%

Sale Date 1/18/2017 Market GRM 15.7

Year Built 2017

Notes:

4642-4644 Boundary Street

San Diego, CA 92116

(2) Garages; (4) On-site parking spaces; Loft style construction; In-unit laundry

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

10

Sales Comparables

Sale Price $1,460,825 ` # Units Unit Type

Units 4 2 1 Bed 1 Bath

Price/Unit $365,206 4 2 Bed 1 Bath

Building Sqft 3,005 1 2 Bed 2 Bath

Price/Sqft $488 2 2 Bed 1 Bath HSE

Market Cap Rate 4.29% 3 2 Bed 1 Bath TWN

Market GRM 15 1 3 Bed 2 Bath

Year Built 1954

Sale Price $1,679,000 ` # Units Unit Type

Units 4 3 2 Bed 1.5 Bath TWN

Price/Unit $419,750 1 3 Bed 1.5 Bath TWN

Building Sqft 4,196

Price/Sqft $400

Market Cap Rate 4.32%

Market GRM 15.13

Year Built 1964

Notes:

On-site laundry, (4) On-site parking spaces; Roof replaced around 2014

4193 Illinois Street, San Diego, CA 92104

Property

Averages

Subject Property

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

11

Finacnials

3.60%3.70%3.80%3.90%4.00%4.10%4.20%4.30%4.40%4.50%4.60%4.70%

2502-2508Wightman

Street

4382-4388Ohio Street

4473-79North Avenue

4529-4535Wilson Ave

4642-4644Boundary

Street

Subject

Market Cap Rate

Cap Rate Average of 4.29%

13.5

14

14.5

15

15.5

16

2502-2508Wightman

Street

4382-4388Ohio Street

4473-79North Avenue

4529-4535Wilson Ave

4642-4644Boundary

Street

Subject

Market GRM

GRM Average of 15

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

12

Financials

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

2502-2508Wightman

Street

4382-4388Ohio Street

4473-79North

Avenue

4529-4535Wilson Ave

4642-4644Boundary

Street

Subject

Price/Unit

Price/Unit Average of $365,206

$0

$100

$200

$300

$400

$500

$600

$700

2502-2508Wightman

Street

4382-4388Ohio Street

4473-79North Avenue

4529-4535Wilson Ave

4642-4644Boundary

Street

Subject

Price/SF

Price/SF Average of $488

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

13

Rental Survey

# PROPERTY PHOTO PROPERTY NAME FEATURES RENT $ SqFt $/SqFT

4061 Utah Street $2,500 812 $3.08

1 San Diego, CA

92104

4178 32nd Street $2,050 800 $2.56

2 San Diego, CA

92104

4133 Kansas Street $2,100 1,100 $1.91

3 San Diego, CA

92104

4364 35th Street $2,250 1,130 $1.99

4 San Diego, CA

92104

3042 Palm St $2,295 1,200 $1.91

5 San Diego, CA

92104

RENT $ SqFt $/SqFT

$2,198 1,043 $2.11

$2,300 956 $2.41

2

RENTAL AVERAGES**

# UNITS UNIT MIX

5

2 Bed 2 Bath

4

2 Bed 1 Bath

9

1 2 Beds 2 Bath

TOTAL UNITS UNIT MIX

Brand new kitchen;

Off-street parkingl On-

site laundry;

Renovated exterior;

large bedrooms

Large shared

backyard; In-unit

Laundry; storage

shed; Shared front

porch

1 2 Bed 2 Bath

Hardwood

Floors;Remodeled

unit; Underground

garage; Fitness room

Spacious; Patio

balcony; Upgraded

unit; On-site laundry

2 Bed 1 Bath

2 Bed 1 Bath

1-car garage; In-unit

laundry; upgrade

kitchen; private

patio; gated

2 bed 1 bath

1

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

14

Rental Survey

# PROPERTY PHOTO PROPERTY NAME FEATURES RENT $ SqFt $/SqFT

4435 Ohio Street $2,295 900 $2.55

1 San Diego, CA

92116

4539 Cleveland Ave $2,850 1,200 $2.38

2 San Diego, CA

92104

2661 A Street $2,700 1,350 $2.00

3 San Diego, CA

92102

4188 Illinois Street $2,995 1,048 $2.86

4 San Diego, CA

92104

2242 Gill Village $2,592 1,324 $1.96

5 San Diego, CA

92108

RENT $ SqFt $/SqFT

$2,686 1,164 $2.31

1

RENTAL AVERAGES**

# UNITS UNIT MIX

9

25

3 Bed 2 Bath

5

2 3 Beds 2 Baths

TOTAL UNITS UNIT MIX

Tenant garages; in-

unit laundry; Prime

location; Patio

balcony

In-unit laundry; patio

balcony; 9' ceilings;

spa/fitness center

10 3 Bed 2 Bath

1 car garage; In-unit

laundry; private

backyard

Spacious; Patio

balcony; Upgraded

unit; On-site laundry

3 Bed 2 Bath

3 Bed 2 Bath HSE

Remodeled; In-unit

laundry; Quartz

countertops

3 Bed 2 Bath

4193 Illinois Street

San Diego, CA 92104

Brian Raynoha, MBA

858.869.9290

©2016 Apartment Advisors, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

15

Apartment Advisors, Inc. offers exclusive seller representation. When we list and market your property we

only represent your interest. We focus on marketing your property and cooperating with the 14,000 Real-

tors in San Diego. Apartment Advisors, Inc. has all the marketing expertise and capabilities of the large

firms but with the individual and exclusivity that the large firms can not and will not provide.

Brian Raynoha is the owner and founder of Apartment Advisors, Inc. After ten years of working in the in-

vestment property industry, Brian opened his own brokerage to provide clients exceptional real estate ser-

vices. Brian specializes in handling 1031 exchanges. He enjoys building lifelong relationships with clients

from their first apartment investment to the day they cash out and achieve their retirement goals. We wel-

come you to Apartment Advisors, Inc. and we look forward to working with you.

~ The Apartment Advisors, Inc. Team

Brian Raynoha, MBA

President/Principal

CalBRE #01798711

858.869.9290 | phone

ApartmentAdvisorsInc.com | web

BrianRaynoha@gmail.com |email

2525 Camino Del Rio S #155, San Diego, CA 92108