FOR SALE

Jacinto Street Apartments 225 E. Jacinto Street Tucson, AZ 85705

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

15 Bedroom Student Housing Development

Sale Price: $770,000

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For more information, please contact:

Allan Mendelsberg, Principal Multifamily and Investment Sales +1 520 546 2721 amendelsberg@picor.com

Daniel Leibsohn Multifamily and Investment Sales +1 520 546 2740 dleibsohn@picor.com

PICOR Commercial Real Estate Services

1100 N. Wilmot Road, Suite 200

Tucson, Arizona 85712

phone: +1 520 748 7100

picor.com

Property Highlights

Number of Beds 15

Beds per House 5

Sale Price $770,000

Cap Rate 7.19%

Year Built 2008

Occupancy 100%

Rentable SF 5,211

Parcel Size 0.27 Acres

Property Features

• The Jacinto Houses located at 225 E. Jacinto Street are a 2008 luxury development of three 2-story, 5 bedroom-2 bath individual houses.

• This spacious floor plan is designed with students in mind. Three bedrooms and one bath are located upstairs and two bedrooms and one bath are located downstairs.

• The 6th Avenue bike boulevard is just around the corner.

• Large private fenced yards with covered patios.

• All beds are pre-leased through 2017-2018 school year.

MULTI-FAMILY OFFERING

FOR SALE

Jacinto Street Apartments 225 E. Jacinto Street Tucson, AZ 85705

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

MULTI-FAMILY OFFERING Floor Plan – 1,737 SF 1st Floor

2nd Floor First Floor

Second Floor

FOR SALE

Jacinto Street Apartments 225 E. Jacinto Street Tucson, AZ 85705

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

MULTI-FAMILY OFFERING Features

Property Features

• 2 Full Baths w/Double Vanity Sinks

• 2 Levels

• Alarm System

• Architectural Polished Concrete Floor

• Balcony

• Built In Desks

• Built-In Niches

• Cox Advanced TV + HBO, On Demand & ROKU

• Dishwasher

• Frost-free Refrigerator with Icemaker

• Full Size Washer/Dryer

• Garbage Disposal

• Heating

• High Ceilings w/ ceiling fans

• Individual Home

• Internet

• Large Spacious Floorplan

• Lighted Parking

• Microwave

• Mirrored Closet Doors

• Natural Stone Tile/Carpet

• No Security Deposit (O.A.C.)

• Pets Welcome

• Private, Fenced Yard

• Professionally Maintained Landscaping

• Prompt Maintenance

• Recessed Lighting

• Skylights

• Stainless Stove w/ Self Cleaning Oven

• Storage Closet Under Stairs

• Upper Deck

• Wall of windows in living/dining area

1st Floor

2nd Floor

FOR SALE

Jacinto Street Apartments 225 E. Jacinto Street Tucson, AZ 85705

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

MULTI-FAMILY OFFERING Property Photos

FOR SALE

Jacinto Street Apartments 225 E. Jacinto Street Tucson, AZ 85705

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

SUBJECT

Downtown

Tucson

MULTI-FAMILY OFFERING

FOR SALE

Jacinto Street Apartments 225 E. Jacinto Street Tucson, AZ 85705

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

MULTI-FAMILY OFFERING

TYPE # OF BEDS SQ. FT. TOTAL S.F. RENT

PER S.F.

MONTHLY RENT

2016/17 SCHOOL YR

MONTHLY RENT

2017/18 SCHOOL YR

5 BD/ 2 BA 1 1,737 1,737 $1.23 $2,190 $2,140

5 BD/ 2 BA 1 1,737 1,737 $1.18 $1,950 $2,050

5 BD/ 2 BA 1 1,737 1,737 $1.32 $2,190 $2,285

Total/Avg. 15 5,211 $1.23 $6,330 $6,475

INCOME STATEMENT MARKETING

PROFORMA

PROFORMA

PER UNIT

PROFORMA

PSF

2016/17

SCHOOL YR

ANNUALIZED

RENTAL INCOME

Gross Potential Rents $77,700 $5,180 $14.91 $73,760

Vacancy ($3,108) -4.0% ($0.60)

Gross Rent $74,592 $7,459 $14.31

Other Income $1,200 $0.23 $1,828

Utility Reimbursement $8,300 $10,113

Net Rental Income $84,092 $85,702

TOTAL INCOME $84,092 $28.63

OPERATING EXPENSES

Marketing & Promotion $800 $53 $0.15 $794

Repairs & Maintenance $5,000 $333 $0.96 $6,970

General and Admin $700 $47 $0.13 $735

Utilities $8,640 $576 $1.66 $10,684

Turnover $1,890 $126 $0.36 $2,075

TOTAL VARIABLE $17,030 $1,135 $3.27 $21,258

Property Taxes $4,106 $274 $0.79 $4,106

Property Insurance $1,701 $113 $0.33 $1,701

Management Fee $5,886 7.0% $3.39 $708

TOTAL EXPENSES $28,723 $7.77 $27,773

NET OPERATING INCOME $55,369 $57,929

STABILIZED MARKET

VALUATION

Value $770,000

Price Per Bed $51,333

Per Sq. Ft. $147.76

Cap Rate

Mktg Proforma 7.19%

Stabilized 2017 Proforma