E X C L U S I V E M U L T I – F A M I L Y O F F E R I N G

Richard D. ButlerSenior Vice President InvestmentsNational Multi Housing Group(602) 687-6782 direct(602) 618-8881 mobilerichard.butler@marcusmillichap.com

2016 W. Orangewood Ave.Phoenix, AZ 85021

A 24 – unit multi housing investment opportunity located in Phoenix, Arizona.

Sean T. ConnollyMultifamily AdvisorNational Multi Housing Group(602) 687-6744 direct(602) 686-4040 mobileSean.connolly@marcusmillichap.com

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 or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap

OFFERING + PRICING SUMMARY

24 UNITS2016 W. Orangewood Ave.

Phoenix, AZ 85021

PRICE $4,250,000

NOI (PRO FORMA) $227,402

PRICE PER UNIT $177,083

TOTAL SQUARE FEET 16,792

PRICE PER SQUARE FOOT $253.09

CAP RATE (PRO FORMA) 5.35%

LAND AREA (ACRES) 0.78

UNIT TYPE # OF UNITS SQFT/UNITNET RENTABLE

SQUARE FEET

MKT.

RENT/UNIT

MKT.

RENT/SFGROSS POTENTIAL

Studio 12 560 6,720 $895 $1.60 $10,740

1 Bed / 1 Bath 8 734 5,872 $1,100 $1.50 $8,800

2 Bed / 2 Bath 4 1,050 4,200 $1,350 $1.29 $5,400

Total/ Average 24 781 16,792 $1,115 $1.46 $24,940

EXECUTIVE SUMMARY

Marcus & Millichap is pleased to announce the opportunity to acquire MacAllister Phoenix – a 24 unit multifamily community located in Phoenix, Arizona. Located less than a mile east of Interstate 17 (Black Canyon Freeway), MacAllister Phoenix offers ease of assess into all parts of the Valley including Downtown Phoenix, Sky Harbor International Airport, Arizona State University, and the northwest valley. Within walking distance is the Northern/19th Ave Light Rail Station, which also becomes an invaluable benefit to tenants requiring transportation flexibility.

Built in 2018, MacAllister Phoenix is comprised of studio, one-bedroom, and two-bedroom units, all of which feature a functional floor plan with high ceilings, vinyl plank flooring, granite counter tops, stainless steel appliances, and en-suite washer/dryer. There is also a resort-style pool, along with a dog park and covered parking readily available to residents.

INCOME PRO FORMA PER UNIT PER SF

All Units at Market Rent 299,980 12,470 17.83

GROSS POTENTIAL RENT $299,280 $12,470 $17.83

ECONOMIC LOSSES

Less: Vacancy Reserve (14,971) 5.00% (0.89)

Total Economic Losses (14,971) 5.00% (0.89)

NET RENTAL INCOME $284,309 $11,847 $16.94

OTHER INCOME

RUBS & Miscellaneous 15,523 444 0.92

Total Other Income $15,523 $444 $0.92

EFFECTIVE GROSS INCOME $299,833 $12,291 $17.86

OPERATING EXPENSES

Real Estate Taxes (2019) 11,750 490 0.70

Rental Tax 6,823 284 0.41

Insurance 4,800 200 0.29

Utilities 19,200 800 1.14

Off-Site Management Fee (4.00%) 11,378 474 0.68

Advertising & Leasing Commissions 1,680 70 0.10

Repairs, Maintenance, & Contract Services 13,200 550 0.79

General & Administrative 3,600 150 0.21

Total Expenses $72,431 $3,018 $4.32

NET OPERATING INCOME $227,402 $9,273 $13.54