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MAYFAIR807 N El Dorado StreetStockton, CA 95202
Brian Purcell
Multi Family
916-677-8149
brian.purcell@tricommercial.com
01307546
Phone: 916-705-2817 ● Fax: 916-218-7393 ● 532 Gibson Drive, Suite 200 ● Roseville, California 95678 ● www.tricommercial.com
QUALIFIED OPPORTUNITY ZONE PROPERTY
47 UNIT, 4 STORY, MULTI FAMILY APT. QUALIFIEDOPPORTUNITY ZONE, VACANT BUILDING READY FORCOMPLETE REHABILITATION.
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NEW ROOF AND TRUSS CONSTRUCTION. ROUGH INTERIORFRAMING IN PLACE. PHOTOS OF POTENTIAL FINISHSCHEDULE
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PLANS AND ENTITLEMENTS FOR COMPLETERECONSTRUCTION READY FOR PICKUP. BREAK GROUNDREADY. AS IS PRICE 3MIL REFURBISHED 7MI
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2 CONSTRUCTION ESTIMATES FOR COMPLETE REMODELOF ALL FOUR FLOORS. SELLER CAN DO THE BUILDOUT TOCOMPLETION AS WELL
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MAYFAIR IS CENTRALLY LOCATED NEAR ALLENTERTAINMENT, COLLEGES,SCHOOLS AND MEDICALFACILITIES, AND ALL FREEWAYS
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B r o k e r B I OS E C T I O N I
PROFESSIONAL BIOMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
TRi Commercial Real Estate Service
SPECIALIZATION
Multi Family Syndication Investments
PROFESSIONAL BACKGROUND
Licensed Agent for 23 years SIGNIFICANT TRANSACTIONS
106 Unit Multi Family Cypress Apartments Stockton126 Unit Multi Family Ashley Park Stockton 60 Unit Multi Family West Sacramento 71 Unit Multi Family Citrus Heights 72 Unit Multi Family Citrus Heights 75,000 sq. ft. Medical Building Sacramento 60,000 sq. ft. industrial Building Sacramento CLIENTS SERVED PATMON CORP. LLC. KUCICH LIMITED PARTNERS JM ELECTRICAL Corp. WATERFORDFINANCIAL Many more upon request
PROFESSIONAL AFFILIATIONS / ACCREDITATIONS San Juan Masonic Lodge 579 Master Mason AMA 40 years
Page 3
P r o p e r t y D e s c r i p t i o nS E C T I O N I I
PROPERTY DESCRIPTIONMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
The Mayfair Apartments are a staple property in the Stockton area for over thirty years. This is an Ideal OPPORTUNITYZONE project, providing great benefits the Federal Government has just approved in the 2018 Tax law. This propertycan be purchased as is, creating the basis price of $3 Mil. and a value add construction rehabilitation for $4mil. Thisqualifies you the Opportunity Zone, with a ten year hold the new owner will realize 100% Capital gains tax free. Even ifthe property sold at a break even amount the 15% Capital gain is Tax Free. This opportunity is a fantastic tool tocapture 100% of the Capital Gains to the long term 10 year hold investor The Mayfair has approved plans and permitsready to implement upon the sale closing. The construction plans are virtually turn key and ready to begin, The currentowner cannot take advantage of the OPPORTUNITY ZONE option because the property has to change ownership toqualify. The interior of the building has been demo'd to the studs. The Construction bid include everything needed tobegin stabilization.
The Mayfair is located one block from the Eden Square Park and just blocks to a Sutter General Hospital, CaliforniaPrimary Care, and the UOP University, Stockton Civic Auditorium and the Arts Commission. The redesignedDowntown Stockton Shopping and Entertainment Square, Eastland Plaza Shopping Center, and the Stockton Arenaand waterfront. There are many local Churches, the Cesar Chavez Central Library, Charter Schools, manyRestaurants.This and much more are all are in very close vicinity to The Mayfair Apartments. All Freeway accesses areconvenient and within one mile in all directions. The Mayfair Apartments will accommodate the Professional as well asthe Student in an upscale, comfortable lifestyle the Mayfair Apartments finishes will provide.
Page 5
PROPERTY PHOTOSMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Page 6
UNIT MIX REPORTMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly
41 One Bedroom One 750 $1,250 $51,250 $950 $38,9504 Two Bedroom One 963 $1,400 $5,600 $1,250 $5,0002 Studio 373 $900 $1,800 $1,800 $3,60047 35,348 $58,650 $47,550
UNIT MIX UNIT MIX SQUARE FEET
● One Bedroom One Bath
● Two Bedroom One Bath
● Studio
● One Bedroom One Bath
● Two Bedroom One Bath
● Studio
UNIT MIX INCOME UNIT MIX MARKET INCOME
● One Bedroom One Bath
● Two Bedroom One Bath
● Studio
● One Bedroom One Bath
● Two Bedroom One Bath
● Studio
Page 7
UNIT MIX BASE RENT REPORTMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
One Bedroom One Bath
41 Units
$1,250.00 per unit $615,000 $627,300 $639,846 $652,643 $665,696 $679,010 $692,590 $706,442 $720,571 $734,982
Two Bedroom One Bath
4 Units
$1,400.00 per unit $67,200 $68,544 $69,915 $71,313 $72,739 $74,194 $75,678 $77,192 $78,736 $80,310
Studio
2 Units
$900.00 per unit $21,600 $22,032 $22,473 $22,922 $23,381 $23,848 $24,325 $24,812 $25,308 $25,814
Total Income $703,800 $717,876 $732,234 $746,878 $761,816 $777,052 $792,593 $808,445 $824,614 $841,106
Page 8
UNIT MIX BASE RENT REPORTMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
One Bedroom One Bath
41 Units
$1,250.00 per unit $749,682 $764,675 $779,969 $795,568 $811,479 $827,709 $844,263 $861,148 $878,371 $895,939
Two Bedroom One Bath
4 Units
$1,400.00 per unit $81,916 $83,555 $85,226 $86,930 $88,669 $90,442 $92,251 $94,096 $95,978 $97,898
Studio
2 Units
$900.00 per unit $26,330 $26,857 $27,394 $27,942 $28,501 $29,071 $29,652 $30,245 $30,850 $31,467
Total Income $857,928 $875,087 $892,589 $910,440 $928,649 $947,222 $966,167 $985,490 $1,005,200 $1,025,304
Page 9
I n v e s t m e n t D e t a i l sS E C T I O N I I I
INVESTMENT DETAILSMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
ANALYSIS
Analysis Date March 2019
PROPERTY
Property Mayfair
Property Address 807 N El Dorado StreetStockton, CA 95202
Year Built 1912
FINANCIAL INFORMATION
Down Payment $2,800,000
Closing Costs $8,650
Federal Tax Rate 3.5%
State Tax Rate 3.175%
Discount Rate 2.00%
PURCHASE INFORMATION
Property Type MultiFamily
Purchase Price $7,000,000
Units 47
Total Rentable Sq. Ft. 35,348
Resale Valuation 5.0% (capitalization of noi)
Resale Expenses 5.0%
LOANS
Type Debt Term Amortization Rate Payment LO Costs
Fixed $4,200,000 20 years 20 years 4.75% $27,141
INCOME & EXPENSES
Gross Operating Income $698,286
Monthly GOI $58,191
Total Annual Expenses ($342,832)
Monthly Expenses ($28,569)
Page 11
PRO FORMA SUMMARYMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
INCOME
Description Actual Per Unit Market Per Unit
Gross Potential Rent $703,800 $14,974 $570,600 $12,140
Less: Vacancy ($21,114) ($449) ($17,118) ($364)
Misc. Income $15,600 $332 $19,200 $409
Effective Gross Income $698,286 $14,857 $572,682 $12,185
OPERATING EXPENSES
Description Actual Per Unit Market Per Unit
Property Management Fee $21,582 $459 $17,118 $364
Replacement Reserves $11,750 $250 $552,250 $11,750
General Maintenance $25,000 $532 $0 $0
Landscape $1,200 $26 $0 $0
Pest Control $4,200 $89 $0 $0
Security System $5,000 $106 $0 $0
Supplies $1,200 $26 $0 $0
Turn Over $9,200 $196 $0 $0
Taxes & Insurance $40,000 $851 $0 $0
Property Tax $160,800 $3,421 $0 $0
Electricity $4,500 $96 $0 $0
Gas $18,000 $383 $0 $0
Sewer $19,000 $404 $0 $0
Storm Drain $1,200 $26 $0 $0
Trash $7,200 $153 $0 $0
Water $12,000 $255 $0 $0
Accounting $1,000 $21 $0 $0
Total Expenses ($342,832) ($7,294) ($569,368) ($12,114)
NET OPERATING INCOME $355,454 $7,563 $3,314 $71
Page 12
PRO FORMA SUMMARYMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
UNIT MIX & ANNUAL SCHEDULED INCOME
Type Units Actual Total Market Total One Bedroom One Bath 41 $15,000 $615,000 $11,400 $467,400Two Bedroom One Bath 4 $16,800 $67,200 $15,000 $60,000Studio 2 $10,800 $21,600 $21,600 $43,200TOTALS 47 $703,800 $570,600
ANNUALIZED INCOME Description Actual Market
Gross Potential Rent $703,800 $570,600Less: Vacancy ($21,114) ($17,118)Misc. Income $15,600 $19,200Effective Gross Income $698,286 $572,682Less: Expenses ($342,832) ($569,368)Net Operating Income $355,454 $3,314Debt Service ($325,697) ($325,697)Net Cash Flow after Debt Service $29,757 ($322,383)Principal Reduction $128,981 $128,981Total Return $158,738 ($193,402)
ANNUALIZED EXPENSES Description Actual Market
Property Management Fee $21,582 $17,118Replacement Reserves $11,750 $552,250General Maintenance $25,000 $0Landscape $1,200 $0Pest Control $4,200 $0Security System $5,000 $0Supplies $1,200 $0Turn Over $9,200 $0Taxes & Insurance $40,000 $0Property Tax $160,800 $0Electricity $4,500 $0Gas $18,000 $0Sewer $19,000 $0Storm Drain $1,200 $0Trash $7,200 $0Water $12,000 $0Accounting $1,000 $0Total Expenses $342,832 $569,368Expenses Per RSF $9.70 $16.11Expenses Per Unit $7,294 $12,114
INVESTMENT SUMMARY Price: $7,000,000
Year Built: 1912
Units: 47
Price/Unit: $148,936
RSF: 35,348
Price/RSF: $198.03
Lot Size: 0.41 acres
Floors: 4
Parking Spaces: 2.1
APN: 139-051-04
Cap Rate: 5.08%
Market Cap Rate: .05%
GRM: 9.73
Market GRM: 11.87
FINANCING SUMMARY Loan Amount: $4,200,000
Down Payment: $2,800,000
Loan Type: Fixed
Interest Rate: 4.75%
Term: 20 years
Monthly Payment: $27,141
DCR: 1.09
Page 13
EXECUTIVE SUMMARYMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Acquisition Costs
Purchase Price, Points and Closing Costs $7,008,650
Investment - Cash $2,820,400
First Loan $4,200,000
Investment Information
Purchase Price $7,000,000
Price per Unit $148,936
Price per Sq. Ft. $198.03
Income per Unit $15,306
Expenses per Unit ($7,294)
Income, Expenses & Cash Flow
Gross Scheduled Income $719,400
Total Vacancy and Credits ($21,114)
Operating Expenses ($342,832)
Net Operating Income $355,454
Debt Service ($325,697)
Cash Flow Before Taxes $29,757
(After Tax Results)Total Interest (Debt Service) ($196,716)
Depreciation and Amortization ($240,755)
Taxable Income (Loss) ($82,017)
Tax Savings (Costs) $5,475
Cash Flow After Taxes $35,232
Financial Indicators
Cash on Cash Return Before Taxes 1.06%
Optimal Internal Rate of Return (yr 20) 7.03%
Debt Coverage Ratio 1.09
Capitalization Rate 5.08%
Gross Rent Multiplier 9.73
Gross Income / Square Feet $20.35
Gross Expenses / Square Feet ($9.70)
Operating Expense Ratio 49.10%
Page 14
OPERATING INCOME ANALYSISMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
$110,000
$220,000
$330,000
$440,000
$550,000
$660,000
$770,000
$880,000
$990,000
$1,100,000
Legend
GROSS OPERATING INCOME NET OPERATING INCOME NET CASH FLOW (b/t)
Page 15
CASH FLOW ANALYSISMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
GROSS SCHEDULED INCOME $719,400 $733,632 $748,147 $762,951 $778,049 $793,448 $809,153 $825,170 $841,506 $858,168
Turnover Vacancy ($21,114) ($21,536) ($21,967) ($22,406) ($22,854) ($23,312) ($23,778) ($24,253) ($24,738) ($25,233)
Total Operating Expenses ($342,832) ($346,354) ($349,915) ($353,517) ($357,158) ($360,841) ($364,565) ($368,331) ($372,139) ($375,991)
NET OPERATING INCOME $355,454 $365,742 $376,265 $387,028 $398,036 $409,295 $420,810 $432,586 $444,629 $456,944
Loan Payment ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697)
NET CASH FLOW (b/t) $29,757 $40,045 $50,568 $61,331 $72,340 $83,599 $95,113 $106,889 $118,932 $131,247
Cash On Cash Return b/t 1.06% 1.42% 1.79% 2.17% 2.56% 2.96% 3.37% 3.79% 4.22% 4.65%
NET OPERATING INCOME $355,454 $365,742 $376,265 $387,028 $398,036 $409,295 $420,810 $432,586 $444,629 $456,944
Depreciation ($240,755) ($251,259) ($251,259) ($251,259) ($251,259) ($251,259) ($251,259) ($251,259) ($251,259) ($251,259)
Loan Interest ($196,716) ($190,454) ($183,889) ($177,004) ($169,785) ($162,216) ($154,280) ($145,958) ($137,232) ($128,082)
TAXABLE INCOME (LOSS) ($82,017) ($75,971) ($58,882) ($41,235) ($23,008) ($4,179) $15,272 $35,370 $56,138 $77,603
Income Taxes $5,475 $5,071 $3,930 $2,752 $1,536 $279 ($1,019) ($2,361) ($3,747) ($5,180)
CASH FLOW (a/t) $35,232 $45,116 $54,498 $64,084 $73,875 $83,877 $94,094 $104,528 $115,185 $126,067
Cash On Cash Return a/t 1.25% 1.60% 1.93% 2.27% 2.62% 2.97% 3.34% 3.71% 4.08% 4.47%
* b/t = before taxes;a/t = after taxes
Page 16
CASH FLOW ANALYSISMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
GROSS SCHEDULED INCOME $875,160 $892,491 $910,167 $928,195 $946,581 $965,333 $984,459 $1,003,965 $1,023,860 $1,044,150
Turnover Vacancy ($25,738) ($26,253) ($26,778) ($27,313) ($27,859) ($28,417) ($28,985) ($29,565) ($30,156) ($30,759)
Total Operating Expenses ($379,885) ($383,824) ($387,807) ($391,836) ($395,910) ($400,030) ($404,197) ($408,411) ($412,673) ($416,984)
NET OPERATING INCOME $469,537 $482,415 $495,582 $509,046 $522,812 $536,887 $551,277 $565,989 $581,030 $596,407
Loan Payment ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697) ($325,697)
NET CASH FLOW (b/t) $143,840 $156,718 $169,885 $183,349 $197,115 $211,190 $225,580 $240,292 $255,333 $270,710
Cash On Cash Return b/t 5.10% 5.56% 6.02% 6.50% 6.99% 7.49% 8.00% 8.52% 9.05% 9.60%
NET OPERATING INCOME $469,537 $482,415 $495,582 $509,046 $522,812 $536,887 $551,277 $565,989 $581,030 $596,407
Depreciation ($251,259) ($251,259) ($251,259) ($251,259) ($251,259) ($251,259) ($251,259) ($251,259) ($251,259) ($240,768)
Loan Interest ($118,488) ($108,429) ($97,881) ($86,821) ($75,224) ($63,064) ($50,314) ($36,945) ($22,926) ($8,227)
TAXABLE INCOME (LOSS) $99,790 $122,727 $146,443 $170,966 $196,329 $222,564 $249,705 $277,786 $306,845 $347,412
Income Taxes ($6,661) ($8,192) ($9,775) ($11,412) ($13,105) ($14,856) ($16,668) ($18,542) ($20,482) ($23,190)
CASH FLOW (a/t) $137,179 $148,526 $160,110 $171,937 $184,010 $196,334 $208,912 $221,750 $234,852 $247,520
Cash On Cash Return a/t 4.86% 5.27% 5.68% 6.10% 6.52% 6.96% 7.41% 7.86% 8.33% 8.78%
* b/t = before taxes;a/t = after taxes
Page 17
CASH IN CASH OUTMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Rental Income $703,800 $717,876 $732,234 $746,878 $761,816 $777,052 $792,593 $808,445 $824,614 $841,106
Laundry $3,600 $3,636 $3,672 $3,709 $3,746 $3,784 $3,821 $3,860 $3,898 $3,937
Parking $12,000 $12,120 $12,241 $12,364 $12,487 $12,612 $12,738 $12,866 $12,994 $13,124
GROSS SCHEDULED INCOME $719,400 $733,632 $748,147 $762,951 $778,049 $793,448 $809,153 $825,170 $841,506 $858,168
Turnover Vacancy ($21,114) ($21,536) ($21,967) ($22,406) ($22,854) ($23,312) ($23,778) ($24,253) ($24,738) ($25,233)
GROSS OPERATING INCOME $698,286 $712,096 $726,180 $740,545 $755,195 $770,136 $785,375 $800,917 $816,768 $832,934
Expenses
Property Management Fee ($21,582) ($22,009) ($22,444) ($22,889) ($23,341) ($23,803) ($24,275) ($24,755) ($25,245) ($25,745)
Replacement Reserves ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750)
General Maintenance ($25,000) ($25,250) ($25,503) ($25,758) ($26,015) ($26,275) ($26,538) ($26,803) ($27,071) ($27,342)
Landscape ($1,200) ($1,212) ($1,224) ($1,236) ($1,249) ($1,261) ($1,274) ($1,287) ($1,299) ($1,312)
Pest Control ($4,200) ($4,242) ($4,284) ($4,327) ($4,371) ($4,414) ($4,458) ($4,503) ($4,548) ($4,593)
Security System ($5,000) ($5,050) ($5,101) ($5,152) ($5,203) ($5,255) ($5,308) ($5,361) ($5,414) ($5,468)
Supplies ($1,200) ($1,212) ($1,224) ($1,236) ($1,249) ($1,261) ($1,274) ($1,287) ($1,299) ($1,312)
Turn Over ($9,200) ($9,292) ($9,385) ($9,479) ($9,574) ($9,669) ($9,766) ($9,864) ($9,962) ($10,062)
Taxes & Insurance ($40,000) ($40,400) ($40,804) ($41,212) ($41,624) ($42,040) ($42,461) ($42,885) ($43,314) ($43,747)
Property Tax ($160,800) ($162,408) ($164,032) ($165,672) ($167,329) ($169,002) ($170,692) ($172,399) ($174,123) ($175,865)
Electricity ($4,500) ($4,545) ($4,590) ($4,636) ($4,683) ($4,730) ($4,777) ($4,825) ($4,873) ($4,922)
Gas ($18,000) ($18,180) ($18,362) ($18,545) ($18,731) ($18,918) ($19,107) ($19,298) ($19,491) ($19,686)
Sewer ($19,000) ($19,190) ($19,382) ($19,576) ($19,771) ($19,969) ($20,169) ($20,371) ($20,574) ($20,780)
Storm Drain ($1,200) ($1,212) ($1,224) ($1,236) ($1,249) ($1,261) ($1,274) ($1,287) ($1,299) ($1,312)
* Cash Flow IRR based upon net cash flow and principal payments
Page 18
CASH IN CASH OUTMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Trash ($7,200) ($7,272) ($7,345) ($7,418) ($7,492) ($7,567) ($7,643) ($7,719) ($7,797) ($7,875)
Water ($12,000) ($12,120) ($12,241) ($12,364) ($12,487) ($12,612) ($12,738) ($12,866) ($12,994) ($13,124)
Accounting ($1,000) ($1,010) ($1,020) ($1,030) ($1,041) ($1,051) ($1,062) ($1,072) ($1,083) ($1,094)
TOTAL OPERATING EXPENSES ($342,832) ($346,354) ($349,915) ($353,517) ($357,158) ($360,841) ($364,565) ($368,331) ($372,139) ($375,991)
NET OPERATING INCOME $355,454 $365,742 $376,265 $387,028 $398,036 $409,295 $420,810 $432,586 $444,629 $456,944
Debt Service
Loan Interest ($196,716) ($190,454) ($183,889) ($177,004) ($169,785) ($162,216) ($154,280) ($145,958) ($137,232) ($128,082)
Principal Payments ($128,981) ($135,242) ($141,808) ($148,693) ($155,911) ($163,481) ($171,417) ($179,739) ($188,465) ($197,615)
NET CASH FLOW (b/t) $29,757 $40,045 $50,568 $61,331 $72,340 $83,599 $95,113 $106,889 $118,932 $131,247
Cash Flow IRR N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Projected Property Value $2,625,000 $2,756,250 $2,894,063 $3,038,766 $3,190,704 $3,350,239 $3,517,751 $3,693,639 $3,878,321 $4,072,237
Resale Expenses ($131,250) ($137,813) ($144,703) ($151,938) ($159,535) ($167,512) ($175,888) ($184,682) ($193,916) ($203,612)
Proceeds b/f Debt Payoff $2,493,750 $2,618,438 $2,749,359 $2,886,827 $3,031,169 $3,182,727 $3,341,864 $3,508,957 $3,684,405 $3,868,625
Loan Principal Balance ($4,071,019) ($3,935,777) ($3,793,969) ($3,645,276) ($3,489,365) ($3,325,884) ($3,154,467) ($2,974,728) ($2,786,263) ($2,588,648)
Capital Reserves Remaining $11,985 $12,225 $12,469 $12,719 $12,973 $13,232 $13,497 $13,767 $14,042 $14,323
Replacement Reserves $11,750 $23,500 $35,250 $47,000 $58,750 $70,500 $82,250 $94,000 $105,750 $117,500
* Cash Flow IRR based upon net cash flow and principal payments
Page 19
CASH IN CASH OUTMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Net Proceeds From Sale ($1,553,534) ($1,281,615) ($996,890) ($698,730) ($386,473) ($59,425) $283,144 $641,996 $1,017,934 $1,411,800
Net Resale IRR N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
* Cash Flow IRR based upon net cash flow and principal payments
Page 20
CASH IN CASH OUTMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Rental Income $857,928 $875,087 $892,589 $910,440 $928,649 $947,222 $966,167 $985,490 $1,005,200 $1,025,304
Laundry $3,977 $4,016 $4,057 $4,097 $4,138 $4,179 $4,221 $4,263 $4,306 $4,349
Parking $13,255 $13,388 $13,522 $13,657 $13,794 $13,932 $14,071 $14,212 $14,354 $14,497
GROSS SCHEDULED INCOME $875,160 $892,491 $910,167 $928,195 $946,581 $965,333 $984,459 $1,003,965 $1,023,860 $1,044,150
Turnover Vacancy ($25,738) ($26,253) ($26,778) ($27,313) ($27,859) ($28,417) ($28,985) ($29,565) ($30,156) ($30,759)
GROSS OPERATING INCOME $849,423 $866,239 $883,389 $900,881 $918,721 $936,917 $955,474 $974,400 $993,704 $1,013,391
Expenses
Property Management Fee ($26,255) ($26,775) ($27,305) ($27,846) ($28,397) ($28,960) ($29,534) ($30,119) ($30,716) ($31,325)
Replacement Reserves ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750) ($11,750)
General Maintenance ($27,616) ($27,892) ($28,171) ($28,452) ($28,737) ($29,024) ($29,314) ($29,608) ($29,904) ($30,203)
Landscape ($1,326) ($1,339) ($1,352) ($1,366) ($1,379) ($1,393) ($1,407) ($1,421) ($1,435) ($1,450)
Pest Control ($4,639) ($4,686) ($4,733) ($4,780) ($4,828) ($4,876) ($4,925) ($4,974) ($5,024) ($5,074)
Security System ($5,523) ($5,578) ($5,634) ($5,690) ($5,747) ($5,805) ($5,863) ($5,922) ($5,981) ($6,041)
Supplies ($1,326) ($1,339) ($1,352) ($1,366) ($1,379) ($1,393) ($1,407) ($1,421) ($1,435) ($1,450)
Turn Over ($10,163) ($10,264) ($10,367) ($10,470) ($10,575) ($10,681) ($10,788) ($10,896) ($11,005) ($11,115)
Taxes & Insurance ($44,185) ($44,627) ($45,073) ($45,524) ($45,979) ($46,439) ($46,903) ($47,372) ($47,846) ($48,324)
Property Tax ($177,623) ($179,399) ($181,193) ($183,005) ($184,835) ($186,684) ($188,551) ($190,436) ($192,341) ($194,264)
Electricity ($4,971) ($5,021) ($5,071) ($5,121) ($5,173) ($5,224) ($5,277) ($5,329) ($5,383) ($5,436)
Gas ($19,883) ($20,082) ($20,283) ($20,486) ($20,691) ($20,897) ($21,106) ($21,317) ($21,531) ($21,746)
Sewer ($20,988) ($21,198) ($21,410) ($21,624) ($21,840) ($22,058) ($22,279) ($22,502) ($22,727) ($22,954)
Storm Drain ($1,326) ($1,339) ($1,352) ($1,366) ($1,379) ($1,393) ($1,407) ($1,421) ($1,435) ($1,450)
* Cash Flow IRR based upon net cash flow and principal payments
Page 21
CASH IN CASH OUTMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Trash ($7,953) ($8,033) ($8,113) ($8,194) ($8,276) ($8,359) ($8,443) ($8,527) ($8,612) ($8,698)
Water ($13,255) ($13,388) ($13,522) ($13,657) ($13,794) ($13,932) ($14,071) ($14,212) ($14,354) ($14,497)
Accounting ($1,105) ($1,116) ($1,127) ($1,138) ($1,149) ($1,161) ($1,173) ($1,184) ($1,196) ($1,208)
TOTAL OPERATING EXPENSES ($379,885) ($383,824) ($387,807) ($391,836) ($395,910) ($400,030) ($404,197) ($408,411) ($412,673) ($416,984)
NET OPERATING INCOME $469,537 $482,415 $495,582 $509,046 $522,812 $536,887 $551,277 $565,989 $581,030 $596,407
Debt Service
Loan Interest ($118,488) ($108,429) ($97,881) ($86,821) ($75,224) ($63,064) ($50,314) ($36,945) ($22,926) ($8,227)
Principal Payments ($207,208) ($217,268) ($227,816) ($238,876) ($250,473) ($262,633) ($275,383) ($288,752) ($302,770) ($317,469)
NET CASH FLOW (b/t) $143,840 $156,718 $169,885 $183,349 $197,115 $211,190 $225,580 $240,292 $255,333 $270,710
Cash Flow IRR N/A 1.42% 2.88% 4.10% 5.12% 5.99% 6.73% 7.36% 7.91% 8.38%
Projected Property Value $4,275,848 $4,489,641 $4,714,123 $4,949,829 $5,197,320 $5,457,186 $5,730,046 $6,016,548 $6,317,375 $6,633,244
Resale Expenses ($213,792) ($224,482) ($235,706) ($247,491) ($259,866) ($272,859) ($286,502) ($300,827) ($315,869) ($331,662)
Proceeds b/f Debt Payoff $4,062,056 $4,265,159 $4,478,417 $4,702,338 $4,937,454 $5,184,327 $5,443,544 $5,715,721 $6,001,507 $6,301,582
Loan Principal Balance ($2,381,440) ($2,164,172) ($1,936,356) ($1,697,480) ($1,447,008) ($1,184,375) ($908,992) ($620,240) ($317,469) $0
Capital Reserves Remaining $14,610 $14,902 $15,200 $15,504 $15,814 $16,130 $16,453 $16,782 $17,118 $17,460
Replacement Reserves $129,250 $141,000 $152,750 $164,500 $176,250 $188,000 $199,750 $211,500 $223,250 $235,000
* Cash Flow IRR based upon net cash flow and principal payments
Page 22
CASH IN CASH OUTMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Net Proceeds From Sale $1,824,476 $2,256,889 $2,710,011 $3,184,861 $3,682,511 $4,204,083 $4,750,754 $5,323,763 $5,924,405 $6,554,042
Net Resale IRR N/A 1.62% 3.02% 4.09% 4.93% 5.59% 6.13% 6.56% 6.91% 7.20%
* Cash Flow IRR based upon net cash flow and principal payments
Page 23
INVESTMENT RETURN ANALYSISMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Cash Flow - To Date $35,232 $80,348 $134,846 $198,930 $272,805 $356,683 $450,777 $555,305 $670,490 $796,557
Net Resale Proceeds ($1,553,550) ($1,281,646) ($996,938) ($698,795) ($386,555) ($59,524) $283,027 $641,861 $1,017,781 $1,411,628
Invested Capital ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400)
Net Return on Investment ($4,338,718) ($4,021,698) ($3,682,492) ($3,320,265) ($2,934,149) ($2,523,241) ($2,086,596) ($1,623,234) ($1,132,129) ($612,215)
Internal Rate of Return N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Modified IRR -99.18% -85.50% -65.98% -49.55% -37.04% -27.61% -16.21% -9.07% -4.54% -1.46%
NPV (cash flow + reversion) ($4,244,491) ($3,877,024) ($3,530,093) ($3,202,603) ($2,893,518) ($2,601,860) ($2,326,703) ($2,067,173) ($1,822,440) ($1,591,722)
PV (NOI + reversion) $2,662,807 $2,938,698 $3,203,093 $3,456,406 $3,699,035 $3,931,369 $4,153,788 $4,366,657 $4,570,333 $4,765,160
* a/t = after taxes; Modified IRR = Modified Internal Rate of Return; PV = Present Value; NPV = Net Present Value; NOI = Net Operating Income
Page 24
INVESTMENT RETURN ANALYSISMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Cash Flow - To Date $933,736 $1,082,262 $1,242,372 $1,414,309 $1,598,319 $1,794,653 $2,003,566 $2,225,316 $2,460,168 $2,707,688
Net Resale Proceeds $1,824,285 $2,247,540 $2,684,383 $3,142,583 $3,623,188 $4,127,304 $4,656,088 $5,210,754 $5,792,577 $6,403,262
Invested Capital ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400) ($2,820,400)
Net Return on Investment ($62,379) $509,402 $1,106,356 $1,736,492 $2,401,108 $3,101,558 $3,839,254 $4,615,670 $5,432,345 $6,290,550
Internal Rate of Return N/A 1.58% 2.93% 3.97% 4.79% 5.45% 5.97% 6.40% 6.74% 7.03%
Modified IRR 0.73% 2.32% 3.51% 4.42% 5.13% 5.69% 6.14% 6.50% 6.79% 7.02%
NPV (cash flow + reversion) ($1,374,277) ($1,169,402) ($976,433) ($794,741) ($623,730) ($462,836) ($311,524) ($169,288) ($35,648) $89,850
PV (NOI + reversion) $4,951,475 $5,129,601 $5,299,852 $5,462,532 $5,617,937 $5,766,349 $5,908,045 $6,043,289 $6,172,340 $6,295,445
* a/t = after taxes; Modified IRR = Modified Internal Rate of Return; PV = Present Value; NPV = Net Present Value; NOI = Net Operating Income
Page 25
FINANCIAL INDICATORSMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Gross Rent Multiplier 3.65 3.76 3.87 3.98 4.10 4.22 4.35 4.48 4.61 4.75
Capitalization Rate 5.08% 5.22% 5.38% 5.53% 5.69% 5.85% 6.01% 6.18% 6.35% 6.53%
Cash On Cash Return b/t 1.06% 1.42% 1.79% 2.17% 2.56% 2.96% 3.37% 3.79% 4.22% 4.65%
Cash On Cash Return a/t 1.25% 1.60% 1.93% 2.27% 2.62% 2.97% 3.34% 3.71% 4.08% 4.47%
Debt Coverage Ratio 1.09 1.12 1.16 1.19 1.22 1.26 1.29 1.33 1.37 1.40
Gross Income per Sq. Ft. $20.35 $20.75 $21.17 $21.58 $22.01 $22.45 $22.89 $23.34 $23.81 $24.28
Expenses per Sq. Ft. ($9.70) ($9.80) ($9.90) ($10.00) ($10.10) ($10.21) ($10.31) ($10.42) ($10.53) ($10.64)
Net Income Multiplier 7.38 7.54 7.69 7.85 8.02 8.19 8.36 8.54 8.72 8.91
Operating Expense Ratio 49.10% 48.64% 48.19% 47.74% 47.29% 46.85% 46.42% 45.99% 45.56% 45.14%
Loan To Value Ratio 155.09% 142.79% 131.09% 119.96% 109.36% 99.27% 89.67% 80.54% 71.84% 63.57%
* b/t = before taxes; a/t = after taxes
Page 26
FINANCIAL INDICATORSMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Gross Rent Multiplier 4.89 5.03 5.18 5.33 5.49 5.65 5.82 5.99 6.17 6.35
Capitalization Rate 6.71% 6.89% 7.08% 7.27% 7.47% 7.67% 7.88% 8.09% 8.30% 8.52%
Cash On Cash Return b/t 5.10% 5.56% 6.02% 6.50% 6.99% 7.49% 8.00% 8.52% 9.05% 9.60%
Cash On Cash Return a/t 4.86% 5.27% 5.68% 6.10% 6.52% 6.96% 7.41% 7.86% 8.33% 8.78%
Debt Coverage Ratio 1.44 1.48 1.52 1.56 1.61 1.65 1.69 1.74 1.78 1.83
Gross Income per Sq. Ft. $24.76 $25.25 $25.75 $26.26 $26.78 $27.31 $27.85 $28.40 $28.97 $29.54
Expenses per Sq. Ft. ($10.75) ($10.86) ($10.97) ($11.09) ($11.20) ($11.32) ($11.43) ($11.55) ($11.67) ($11.80)
Net Income Multiplier 9.11 9.31 9.51 9.72 9.94 10.16 10.39 10.63 10.87 11.12
Operating Expense Ratio 44.72% 44.31% 43.90% 43.49% 43.09% 42.70% 42.30% 41.91% 41.53% 41.15%
Loan To Value Ratio 55.70% 48.20% 41.08% 34.29% 27.84% 21.70% 15.86% 10.31% 5.03% 0.00%
* b/t = before taxes; a/t = after taxes
Page 27
A e r i a l sS E C T I O N I V
Eden Park
Downtown Stockton
E Miner Ave
E Weber Ave
W Fremont St
N El Dorado St
N Center St
Park St
Flora St
E Oak St
Fremont Square Martin Luther King Plaza
Weber Square
McLeod Lake
Stockton Arena
Banner IslandBallpark
Weber Point
Pitman Elementary
School
Stanislaus State Stockton
CampusCathedral of the Annunciation
School
Cesar Chavez Central Library
Stockton Memorial Civic Auditorium
City Council
Channel Medical Center
LOCATION MAPMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Page 30
DEMOGRAPHICSMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Population Characteristic 1 Mile 3 Mile 5 Mile
Ages 0-4 1,366 11,645 21,669
Ages 5-9 1,572 13,440 25,673
Ages 10-14 1,352 11,893 23,412
Ages 15-19 1,237 11,104 22,379
Ages 20-24 1,266 11,254 22,162
Ages 25-29 1,350 11,015 21,092
Ages 30-34 1,315 10,321 19,364
Ages 35-39 1,324 9,681 18,223
Ages 40-44 1,304 9,114 17,591
Ages 45-49 1,318 8,840 17,446
Ages 50-54 1,235 7,997 16,337
Ages 55-59 1,146 7,141 14,692
Ages 60-64 961 5,848 12,284
Ages 65-69 747 4,471 9,597
Ages 70-74 528 3,242 7,141
Ages 75-79 332 2,344 5,200
Ages 80-84 239 1,556 3,428
Household Income 1 Mile 3 Mile 5 Mile
Median Household Income $28,278 $37,945 $40,387
< $10000 1,272 4,128 6,123
$10000-$14999 1,215 4,819 7,265
$15000-$19999 740 3,482 5,837
$20000-$24999 638 3,212 5,195
$25000-$29999 483 3,040 5,014
$30000-$34999 285 3,272 5,736
$35000-$39999 339 2,617 5,345
$40000-$44999 289 2,156 4,487
$45000-$49999 238 1,996 3,985
$50000-$60000 451 3,996 7,753
$60000-$74000 428 3,776 8,619
$75000-$99999 639 4,235 9,854
$100000-$124999 406 2,029 5,498
$125000-$149999 140 805 2,898
$150000-$199999 146 743 1,963
> $200000 76 369 1,653
Race Characteristic 1 Mile 3 Mile 5 Mile
Non Hispanic White 9,459 53,902 106,307
Population Black 1,919 11,594 25,774
Population Am In/AK Nat 92 551 904
Characteristic Housing 1 Mile 3 Mile
Housing Units 10,098 51,055
Occupied Housing Units 8,517 45,554
Owner Occupied Housing Units 2,417 19,407
Renter Occupied Housing Units 6,100 26,147
Vacant Housing Units 1,581 5,501
Page 31
DEMOGRAPHICSMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Population 1 Mile 3 Mile 5 Mile
Male 9,466 (49.53 %) 70,277 (48.84 %) 139,039 (49.05 %)
Female 9,647 (50.47 %) 73,621 (51.16 %) 144,445 (50.95 %)
Total Population 19,113 143,898 283,484
Age Breakdown 1 Mile 3 Mile 5 Mile
Ages 0-4 1,366 (7.15 %) 11,645 (8.09 %) 21,669 (7.64 %)
Ages 5-9 1,572 (8.22 %) 13,440 (9.34 %) 25,673 (9.06 %)
Ages 10-14 1,352 (7.07 %) 11,893 (8.26 %) 23,412 (9.06 %)
Ages 15-19 1,237 (6.47 %) 11,104 (7.72 %) 22,379 (7.89 %)
Ages 20-24 1,266 (6.62 %) 11,254 (7.82 %) 22,162 (7.82 %)
Ages 25-29 1,350 (7.06 %) 11,015 (7.65 %) 21,092 (7.44 %)
Ages 30-34 1,315 (6.88 %) 10,321 (7.17 %) 19,364 (6.83 %)
Ages 35-39 1,324 (6.93 %) 9,681 (6.73 %) 18,223 (6.43 %)
Ages 40-44 1,304 (6.82 %) 9,114 (6.33 %) 17,591 (6.21 %)
Ages 45-49 1,318 (6.90 %) 8,840 (6.14 %) 17,446 (6.15 %)
Ages 50-54 1,235 (6.46 %) 7,997 (5.56 %) 16,337 (5.76 %)
Ages 55-59 1,146 (6.00 %) 7,141 (4.96 %) 14,692 (5.18 %)
Ages 60-64 961 (5.03 %) 5,848 (4.06 %) 12,284 (4.33 %)
Ages 65-69 747 (3.91 %) 4,471 (3.11 %) 9,597 (3.39 %)
Ages 70-74 528 (2.76 %) 3,242 (2.25 %) 7,141 (2.52 %)
Ages 75-79 332 (1.74 %) 2,344 (1.63 %) 5,200 (1.83 %)
Ages 80-84 239 (1.25 %) 1,556 (1.08 %) 3,428 (1.21 %)
Ages 85+ 521 (2.73 %) 2,992 (2.08 %) 5,794 (2.04 %)
Page 32
DEMOGRAPHICSMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
Household Income 1 Mile 3 Mile 5 Mile
Median Income $28,278 $37,945 $40,387
Less than $10,000 1,272 4,128 6,123
$10,000 -$14,999 1,215 4,819 7,265
$15,000 - $19,999 740 3,482 5,837
$20,000 -$24,999 638 3,212 5,195
$25,000 - $29,999 483 3,040 5,014
$30,000 - $34,999 285 3,272 5,736
$35,000 - $39,999 339 2,617 5,345
$40,000 - $44,999 289 2,156 4,487
$45,000 - $49,999 238 1,996 3,985
$50,000 - $59,999 451 3,996 7,753
$60,000 - $74,999 428 3,776 8,619
$75,000 - $99,999 639 4,235 9,854
$100,000 - $124,999 406 2,029 5,498
$125,000 - $149,999 140 805 2,898
$150,000 - $199,999 146 743 1,963
Greater than $200,000 76 369 1,653
Housing 1 Mile 3 Mile 5 Mile
Housing Units 10,098 51,055 96,895
Occupied Units 8,517 45,554 87,858
Owner Occupied Units 2,417 19,407 44,848
Renter Occupied Units 6,100 26,147 43,010
Vacant Units 1,581 5,501 9,037
Race Demographics 1 Mile 3 Mile 5 Mile
Population Non Hispanic White 9,459 53,902 106,307
Population Black 1,919 11,594 25,774
Population Am In/Ak Nat 92 551 904
Page 33
C o m p a r a b l e sS E C T I O N V
RECENT TRANSACTIONSMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
MultiFamily Sale Price: $2,750,000
5323 Carrington Circle Cap Rate: 6.00%
Stockton, CA Price per Unit: $72,368
38 Units Year Built: 1989
MultiFamily Sale Price: $3,150,000
6131 Gettysburg Place Cap Rate: 7.20%
Stockton, Ca Price per Unit: $59,434
53 Units Year Built: 1972
MultiFamily Sale Price: $2,580,000
515 Camanche Lane Cap Rate: 6.30%
Stockton, Ca Price per Unit: $49,615
52 Units Year Built: 1965
MultiFamily Sale Price: $2,750,000
5323 Carrington Circle Cap Rate: 6.00%
Stockton, CA Price per Unit: $72,368
38 Units Year Built: 1989
MultiFamily Sale Price: $3,150,000
6131 Gettysburg Place Cap Rate: 7.20%
Stockton, Ca Price per Unit: $112,500
28 Units Year Built: 1972
MultiFamily Sale Price: $2,580,000
515 Camanche Lane Cap Rate: 7.36%
Stockton, Ca Price per Unit: $49,615
52 Units Year Built: 1965
MultiFamily Sale Price: $2,273,684
633 Stewart Street Cap Rate: 5.80%
Manteca, CA Price per Unit: $71,053
32 Units Year Built: 1981
Page 35
RECENT TRANSACTIONSMayfair807 N El Dorado Street | Stockton, CA 95202
Brian PurcellMulti Family 916-677-8149brian.purcell@tricommercial.com
MultiFamily Sale Price: $7,425,000
602-702 Wimbledon Drive Cap Rate: 6.85%
Lodi, Ca Price per Unit: $69,393
107 Units Year Built: 0
MultiFamily Sale Price: $9,150,000
7565 Shoreline Drive Cap Rate: 6.50%
Stockton, Ca Price per Unit: $76,250
120 Units Year Built: 1984
Page 36
794 Button Ave - Parkwood Estates
Manteca, CA 95336
Sale on 3/19/2018 for $6,900,000 ($162.85/SF; $135,294/Unit) - Research Complete
51 Unit, 42,371 SF Class B Apartments Building Built in 1964
SOLD
1
Buyer & Seller Contact Info
Recorded Buyer: Recorded Seller: Kats Family TrustSienna Place, LLC
True Buyer: True Seller: Weylin G & Roselyn M Eng
Weylin Eng
20 Orinda WayOrinda, CA 94563(925) 254-3598
JCM Partners
Brian Rein
2151 Salvio StConcord, CA 94520(925) 676-1966
Buyer Type: Seller Type: IndividualDeveloper/Owner-RGNL
Buyer Broker: Listing Broker: Marcus & Millichap Inc
Daniel Dabkoski
(916) 724-1306
Luis Mejia
(916) 724-1400
Marcus & Millichap Inc
Daniel Dabkoski
(916) 724-1306
Luis Mejia
(916) 724-1400
Sale Date:
Price/SF:
Sale Price:
$162.85
$6,900,000-Confirmed
03/19/2018
Bldg Type:
Land Area:
Sale Conditions:
Year Built/Age:
RBA:
Apartments
Built in 1964 Age: 54
42,371 SF
4.23 AC (184,259 SF)
1031 Exchange
Percent Leased: -
Transaction Details
Asking Price: $6,900,000
Price/AC Land Gross: $1,631,205.67
Total Value Assessed:
Improved Value Assessed
Land Value Assessed:
$2,441,251 in 2017
$1,875,804
$560,421
Percent Improved: 76.8%
Land Assessed/AC: $132,487
InvestmentSale Type:
Transfer Tax: $7,590
GRM/GIM: -/-
ID: 4176367
-
Spacer
Escrow Length: 140 days
Parcel No:
Financing:
208-130-06
Down payment of $6,900,000.00 (100.0%)
No. of Tenants: 1
Legal Desc: Part of Lot 83, Section 3 in Summer Home Tract, as per Plat vol. 3, page 29.
Tenants at time of sale: JCM - Parkwood Estates
Copyrighted report licensed to TRI Commercial - 632653. 2/28/2019
Page 1
Parcel No: 208-130-06
Document No: 030140
Spacer
# Units:
Avg Unit Size: 814 SF
51
Avg Rent/Unit/Mo:
Avg Rent/SF/Mo:
$1,555
$1.81SF of all Units: 41,535
$135,294Price/Unit:
Spacer Spacer
Bed/Bath # % Avg SF Vacant Min/Unit Max/Unit Min/SF Max/SF Min/Unit Max/Unit Min/SF Max/SF %
UNIT MIX AT TIME OF SALE
Units Asking Rent Effective Rent Concessions
1/1.0 11 21.6 650 - - - - - - - - - -
2/1.0 12 23.5 875 - - - - - - - - - -
2/1.0 28 54.9 850 - - - - - - - - - -
Bldg Type: Apartments
51
814 SF
# Units:
Avg Unit Size:
Current Building Information
Bldg Status: Built in 1964
42,371 SFBldg Size:
Typical Floor Size: 42,371 SF
Stories: 1
Parking: 52 free Covered Spaces are available; Ratio of 1.22/1,000 SF; 1.02/Unit
Bldg Vacant: 0 SF
Owner Type: Developer/Owner-RGNL
Zoning: -
Rent/SF/Yr: -
Elevators: 0
Land Area: 4.23 AC
Expenses: 2017 Tax @ $541.58/Unit
Site Amenities: Air Conditioning, Cable Ready, Carpet, Ceiling Fans, Dining Room, Dishwasher, Disposal, Heating,Kitchen, Laundry Facilities, Microwave, Package Service, Pool, Property Manager on Site, Range, TileFloors, Tub/Shower, Walk-In Closets, Washer/Dryer, Washer/Dryer Hookup, Window Coverings
ID: 9374775
Location Information
Stockton/Modesto
Manteca/Lathrop MF/Outer Manteca/Lathrop MF
Metro Market:
Submarket:
County: San Joaquin
CBSA: Stockton-Lodi, CA
DMA: Sacramento-Stockton-Modesto, CA
CSA: San Jose-San Francisco-Oakland, CA
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794 Button Ave - Parkwood Estates SOLD51 Unit, 42,371 SF Class B Apartments Building Built in 1964 (con't)
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Parcel Number: 208-130-06
-Legal Description:
County: San Joaquin
Plat Map: 794 Button Ave
794 Button Ave - Parkwood Estates SOLD51 Unit, 42,371 SF Class B Apartments Building Built in 1964 (con't)
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8003 N El Dorado St - Meridian Village Apartments
Stockton, CA 95210
Sale on 4/16/2018 for $5,210,000 ($121.85/SF; $100,192/Unit) - Research Complete
52 Unit, 42,756 SF Class C Apartments Building Built in 1980
SOLD
2
Buyer & Seller Contact Info
Recorded Buyer: Recorded Seller: Birches Investors LpAnami Ca Llc
True Buyer: True Seller: Enduravest Partners
Dan Flanigan
718 E State StSanta Barbara, CA 93101(805) 881-3395
Zeeshan Khan
Zeeshan Khan
4668 Woodrose CirDublin, CA 94568(925) 518-3265
Buyer Type: Seller Type: Investment ManagerIndividual
Buyer Broker: Liberty Real Estate Group
Morgan Trunnell
(415) 516-8150
Sale Date:
Price/SF:
Sale Price:
Actual Cap Rate:
$121.85
$5,210,000-Confirmed
04/16/2018
Bldg Type:
Land Area:
Sale Conditions:
Year Built/Age:
RBA:
5.86%
Apartments
Built in 1980 Age: 38
42,756 SF
2.17 AC (94,525 SF)
1031 Exchange
Percent Leased: -
Transaction Details
Asking Price: -
Price/AC Land Gross: $2,400,921.66
Total Value Assessed:
Improved Value Assessed
Land Value Assessed:
$2,481,579 in 2017
$1,943,059
$528,120
Percent Improved: 78.3%
Land Assessed/AC: $243,373
InvestmentSale Type:
GRM/GIM: -/-
ID: 4242168
-
Spacer
Escrow Length: -
Parcel No:
Financing:
079-350-41
Down payment of $1,760,000.00 (33.8%)$3,450,000.00 from CBRE Capital Markets
Document No: 041898
Sale History: Sold for $5,210,000 ($121.85/SF; $100,192/Unit) on 4/16/2018Sold for $2,350,000 ($54.96/SF; $45,192/Unit) on 3/27/2014
Legal Desc: Lot 1 Trt 1590 Vol 25 Pg 81
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Sale History: Sold for $5,210,000 ($121.85/SF; $100,192/Unit) on 4/16/2018Sold for $2,350,000 ($54.96/SF; $45,192/Unit) on 3/27/2014
Spacer
# Units:
Avg Unit Size: 807 SF
52
SF of all Units: 42,000
$100,192Price/Unit:
Spacer
Spacer
Bed/Bath # % Avg SF Vacant Min/Unit Max/Unit Min/SF Max/SF Min/Unit Max/Unit Min/SF Max/SF %
UNIT MIX AT TIME OF SALE
Units Asking Rent Effective Rent Concessions
1/1.0 16 30.8 675 - - - - - - - - - -
2/1.0 32 61.5 850 - - - - - - - - - -
3/2.0 4 7.7 1,000 - - - - - - - - - -
Transaction Notes
This transaction was an off market deal. The property is located in northern Stockton and is surrounded by a number of major retailers andrestuarants. The deal also involved a $45,000 seller credit for physical due diligence. Price was confirmed by the seller and the buyerbroker. Cap rate was provided by the buyer's broker.
Bldg Type: Apartments
52
807 SF
# Units:
Avg Unit Size:
Current Building Information
Bldg Status: Built in 1980
42,756 SFBldg Size:
Typical Floor Size: 27,211 SF
Stories: 2
Parking: 72 Surface Spaces are available; Ratio of 2.66/1,000 SF; 1.38/Unit
Bldg Vacant: 0 SF
Owner Type: Individual
Zoning: -
Rent/SF/Yr: -
Elevators: 0
Land Area: 2.17 AC
Expenses: 2017 Tax @ $599.31/Unit; 2014 Ops @ $2642.96/Unit
Site Amenities: Air Conditioning, Carpet, Ceiling Fans, Dishwasher, Hardwood Floors, Heating, Laundry Facilities, Pool,Property Manager on Site, Range, Refrigerator, Video Patrol
ID: 9304067
Location Information
Stockton/Modesto
Valley Oak MF/Bear Creek East MF
Metro Market:
Submarket:
County: San Joaquin
CBSA: Stockton-Lodi, CA
DMA: Sacramento-Stockton-Modesto, CA
CSA: San Jose-San Francisco-Oakland, CA
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8003 N El Dorado St - Meridian Village Apartments SOLD52 Unit, 42,756 SF Class C Apartments Building Built in 1980 (con't)
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Parcel Number: 079-350-41
-Legal Description:
County: San Joaquin
Plat Map: 8003 N El Dorado St
8003 N El Dorado St - Meridian Village Apartments SOLD52 Unit, 42,756 SF Class C Apartments Building Built in 1980 (con't)
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6131 Gettysburg Pl - Lincoln Village
Stockton, CA 95207
Sale on 12/30/2005 for $4,200,000 ($88.49/SF; $79,245/Unit) - Research Complete
53 Unit, 47,462 SF Class C Apartments Building Built in 1972
SOLD
3
Buyer & Seller Contact Info
Recorded Buyer: Recorded Seller: Philip L. Alne
2949 Driftwood DrSan Jose, CA 95128(408) 835-5488
George Woo
True Buyer: True Seller: -George Woo
George Woo
PO Box 320265San Francisco, CA 94132
Sale Date:
Price/SF:
Sale Price:
$88.49
$4,200,000-Full Value
12/30/2005
Bldg Type:
Land Area:
Year Built/Age:
RBA:
Apartments
Built in 1972 Age: 33
47,462 SF
1.85 AC (80,586 SF)
Percent Leased: 100.0%
Transaction Details
Asking Price: -
Price/AC Land Gross: $2,270,270.27
Total Value Assessed:
Improved Value Assessed
Land Value Assessed:
$3,314,538 in 2004
$2,795,018
$519,520
Percent Improved: 84.3%
Land Assessed/AC: $280,821
InvestmentSale Type:
Transfer Tax: $4,620
GRM/GIM: -/-
ID: 1091635
-
Spacer
Escrow Length: -
Parcel No:
Financing:
097-462-17
Down payment of $1,201,000.00 (28.6%)$2,999,000.00 from United Commercial Bank
Document No: 325093
Sale History: Sold for $3,150,000 ($66.37/SF; $59,434/Unit) on 5/13/2014Sold on 3/19/2012 Non-Arms LengthSold on 3/16/2012 Non-Arms LengthSold on 3/15/2011 Non-Arms LengthSold for $1,375,000 ($28.97/SF; $25,943/Unit) on 1/13/2011Sold for $1,840,000 ($38.77/SF; $34,717/Unit) on 3/19/2010 Non-Arms LengthSold for $4,200,000 ($88.49/SF; $79,245/Unit) on 12/30/2005Sold for $970,000 ($20.44/SF; $18,302/Unit) on 7/13/1999
No. of Tenants: 1
Legal Desc: Por sec 21 T2N R6E MDB&M
Tenants at time of sale: JCM - Lincoln Village
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Sale History: Sold for $3,150,000 ($66.37/SF; $59,434/Unit) on 5/13/2014Sold on 3/19/2012 Non-Arms LengthSold on 3/16/2012 Non-Arms LengthSold on 3/15/2011 Non-Arms LengthSold for $1,375,000 ($28.97/SF; $25,943/Unit) on 1/13/2011Sold for $1,840,000 ($38.77/SF; $34,717/Unit) on 3/19/2010 Non-Arms LengthSold for $4,200,000 ($88.49/SF; $79,245/Unit) on 12/30/2005Sold for $970,000 ($20.44/SF; $18,302/Unit) on 7/13/1999
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# Units:
Avg Unit Size: 621 SF
53
SF of all Units: 32,954
$79,245Price/Unit:
Spacer
Spacer
Bed/Bath # % Avg SF Vacant Min/Unit Max/Unit Min/SF Max/SF Min/Unit Max/Unit Min/SF Max/SF %
UNIT MIX AT TIME OF SALE
Units Asking Rent Effective Rent Concessions
1/1.0 21 39.6 650 - - - - - - - - - -
2/1.0 32 60.4 875 - - - - - - - - - -
Transaction Notes
Building(s):YrBuilt Bldgs Stories Construction Condition1972 4 2 Frame/stucco Average
The parties involved were not at liberty to disclose any of the vital data or were unable to be contacted. All information is based on recordeddocuments and county assessor records.
Income Expense Data
$24,028
$24,028
Total Expenses
- Operating Expenses
- TaxesExpenses
Bldg Type: Apartments
53
621 SF
# Units:
Avg Unit Size:
Current Building Information
Bldg Status: Built in 1972
47,462 SFBldg Size:
Typical Floor Size: 23,731 SF
Stories: 2
Parking: 54 Covered Spaces are available; 18 Surface Spaces are available; Ratio of 1.34/1,000 SF; 1.36/Unit
Bldg Vacant: 0 SF
Owner Type: Developer/Owner-RGNL
Zoning: R3B, Stockton
Rent/SF/Yr: -
Elevators: 0
Land Area: 1.85 AC
Expenses: 2017 Tax @ $853.46/Unit
Site Amenities: 24 Hour Availability, Air Conditioning, Balcony, Cable Ready, Carpet, Ceiling Fans, Controlled Access,Courtyard, Dining Room, Disposal, Gated, Heating, High Speed Internet Access, Kitchen, LaundryFacilities, Lawn, Oven, Property Manager on Site, Range, Refrigerator
# of Bldgs: 4
Metering: Individually MeteredUnits per AC: 28
ID: 4726096
Location Information
Stockton/Modesto
Lakeview MF/Lincoln Village MF
Metro Market:
Submarket:
County: San Joaquin
CBSA: Stockton-Lodi, CA
CSA: San Jose-San Francisco-Oakland, CA
6131 Gettysburg Pl - Lincoln Village SOLD53 Unit, 47,462 SF Class C Apartments Building Built in 1972 (con't)
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6131 Gettysburg Pl - Lincoln Village SOLD53 Unit, 47,462 SF Class C Apartments Building Built in 1972 (con't)
Map(Page): Thomas Bros. Guide 40-E5
DMA: Sacramento-Stockton-Modesto, CA
CSA: San Jose-San Francisco-Oakland, CA
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Parcel Number: 097-462-17
Por sec 21 T2N R6E MDB&MLegal Description:
County: San Joaquin
Plat Map: 6131 Gettysburg Pl
6131 Gettysburg Pl - Lincoln Village SOLD53 Unit, 47,462 SF Class C Apartments Building Built in 1972 (con't)
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6131 Gettysburg Pl - Lincoln Village
Stockton, CA 95207
Sale on 5/13/2014 for $3,150,000 ($66.37/SF; $59,434/Unit) - Research Complete
53 Unit, 47,462 SF Class C Apartments Building Built in 1972
SOLD
4
Buyer & Seller Contact Info
Recorded Buyer: Recorded Seller: Lincoln Village Apartments LLCGettysburg Place Associates LLC
True Buyer: True Seller: Lincoln Village Apartments LLC
Gayle Ing
PO Box 3000Concord, CA 94522
Robert Whitehead
Robert Whitehead
8 Harris CtMonterey, CA 93940
Buyer Type: Seller Type: Developer/Owner-RGNLIndividual
Buyer Broker: Listing Broker: Marcus & Millichap Inc
Jon Holmquist
(415) 625-2117
Marcus & Millichap Inc
Jon Holmquist
(415) 625-2117
Sale Date:
Price/SF:
Sale Price:
Actual Cap Rate:
$66.37
$3,150,000-Confirmed
05/13/2014
Bldg Type:
Land Area:
Year Built/Age:
RBA:
7.20%
Apartments
Built in 1972 Age: 42
47,462 SF
1.85 AC (80,586 SF)
Percent Leased: -
Transaction Details
Asking Price: -
Price/AC Land Gross: $1,702,702.70
Total Value Assessed:
Improved Value Assessed
Land Value Assessed:
$1,423,301 in 2013
$1,111,181
$312,120
Percent Improved: 78.1%
Land Assessed/AC: $168,713
InvestmentSale Type:
GRM/GIM: -/-
ID: 3036654
-
Spacer
Escrow Length: -
Parcel No:
Financing:
097-462-17
Down payment of $1,260,000.00 (40.0%)$1,890,000.00 from JP Morgan Chase Bank
Document No: 048604
Sale History: Sold for $3,150,000 ($66.37/SF; $59,434/Unit) on 5/13/2014Sold on 3/19/2012 Non-Arms LengthSold on 3/16/2012 Non-Arms LengthSold on 3/15/2011 Non-Arms LengthSold for $1,375,000 ($28.97/SF; $25,943/Unit) on 1/13/2011Sold for $1,840,000 ($38.77/SF; $34,717/Unit) on 3/19/2010 Non-Arms LengthSold for $4,200,000 ($88.49/SF; $79,245/Unit) on 12/30/2005Sold for $970,000 ($20.44/SF; $18,302/Unit) on 7/13/1999
No. of Tenants: 1
Tenants at time of sale: JCM - Lincoln Village
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Sale History: Sold for $3,150,000 ($66.37/SF; $59,434/Unit) on 5/13/2014Sold on 3/19/2012 Non-Arms LengthSold on 3/16/2012 Non-Arms LengthSold on 3/15/2011 Non-Arms LengthSold for $1,375,000 ($28.97/SF; $25,943/Unit) on 1/13/2011Sold for $1,840,000 ($38.77/SF; $34,717/Unit) on 3/19/2010 Non-Arms LengthSold for $4,200,000 ($88.49/SF; $79,245/Unit) on 12/30/2005Sold for $970,000 ($20.44/SF; $18,302/Unit) on 7/13/1999
Spacer
# Units:
Avg Unit Size: 621 SF
53
SF of all Units: 32,954
$59,434Price/Unit:
Spacer
Spacer
Bed/Bath # % Avg SF Vacant Min/Unit Max/Unit Min/SF Max/SF Min/Unit Max/Unit Min/SF Max/SF %
UNIT MIX AT TIME OF SALE
Units Asking Rent Effective Rent Concessions
1/1.0 21 39.6 530 - $645 $675 $1.22 $1.27 - - - - -
2/1.0 32 60.4 682 - $745 $775 $1.09 $1.14 - - - - -
Transaction Notes
Lincoln Village Apts at 6131 Gettysburg Pl in Stockton sold for $3.15M as confirmed with seller of the property.Jon Holmquist of Marcus & Millichap repped both sides of the deal and confirmed a 7.2% CAP Rate.No sales conditions were mentioned at the time of close
Income Expense Data
$24,028
$24,028
Total Expenses
- Operating Expenses
- TaxesExpenses
Bldg Type: Apartments
53
621 SF
# Units:
Avg Unit Size:
Current Building Information
Bldg Status: Built in 1972
47,462 SFBldg Size:
Typical Floor Size: 23,731 SF
Stories: 2
Parking: 54 Covered Spaces are available; 18 Surface Spaces are available; Ratio of 1.34/1,000 SF; 1.36/Unit
Bldg Vacant: 0 SF
Owner Type: Developer/Owner-RGNL
Zoning: R3B, Stockton
Rent/SF/Yr: -
Elevators: 0
Land Area: 1.85 AC
Expenses: 2017 Tax @ $853.46/Unit
Site Amenities: 24 Hour Availability, Air Conditioning, Balcony, Cable Ready, Carpet, Ceiling Fans, Controlled Access,Courtyard, Dining Room, Disposal, Gated, Heating, High Speed Internet Access, Kitchen, LaundryFacilities, Lawn, Oven, Property Manager on Site, Range, Refrigerator
# of Bldgs: 4
Metering: Individually MeteredUnits per AC: 28
ID: 4726096
Location Information
Stockton/Modesto
Lakeview MF/Lincoln Village MF
Metro Market:
Submarket:
County: San Joaquin
Map(Page): Thomas Bros. Guide 40-E5
CBSA: Stockton-Lodi, CA
DMA: Sacramento-Stockton-Modesto, CA
CSA: San Jose-San Francisco-Oakland, CA
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6131 Gettysburg Pl - Lincoln Village SOLD53 Unit, 47,462 SF Class C Apartments Building Built in 1972 (con't)
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Parcel Number: 097-462-17
Por sec 21 T2N R6E MDB&MLegal Description:
County: San Joaquin
Plat Map: 6131 Gettysburg Pl
6131 Gettysburg Pl - Lincoln Village SOLD53 Unit, 47,462 SF Class C Apartments Building Built in 1972 (con't)
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1141 W Swain Rd - Parkview Terrace Club Apartments
Stockton, CA 95207
Sale on 2/28/2003 for $4,200,000 ($82.34/SF; $84,000/Unit) - Research Complete
50 Unit, 51,011 SF Class B Apartments Building Built in 1985
SOLD
5
Buyer & Seller Contact Info
Recorded Buyer: Recorded Seller: Khosrow Roy Hifai
560 Newhall StSan Jose, CA 95110(408) 435-9360
James T. West & Linda Bowman
5561 Sandpiper CtStockton, CA 95207(209) 473-1904
Seller Contact: Parkview Terrace
Buyer Broker: Listing Broker: Century 21 Properties Unlimited
Rick Jeffrey
(209) 952-4334
Century 21 Properties Unlimited
Rick Jeffrey
(209) 952-4334
Sale Date:
Price/SF:
Sale Price:
Actual Cap Rate:
$82.34
$4,200,000-Confirmed
02/28/2003 (3 days on market)
Bldg Type:
Land Area:
Sale Conditions:
Year Built/Age:
RBA:
8.12%
Apartments
Built in 1985 Age: 18
51,011 SF
2.54 AC (110,730 SF)
1031 Exchange
Percent Leased: -
Transaction Details
Asking Price: -
Price/AC Land Gross: $1,652,242.33
Total Value Assessed:
Improved Value Assessed
Land Value Assessed:
$2,513,537 in 2002
$1,765,803
$747,734
Percent Improved: 70.3%
Land Assessed/AC: $294,151
InvestmentSale Type:
Transfer Tax: $4,620
GRM/GIM: 8.05/8.05
ID: 737116
-
Spacer
Escrow Length: -
Parcel No:
Financing:
097-462-38
Down payment of $1,050,000.00 (25.0%)$3,150,000.00 from GMAC Commercial Mtg Corp:: due in 10 yrs
Document No: 045353
Sale History: Sold for $3,150,000 ($61.75/SF; $63,000/Unit) on 12/26/2012Sold for $4,200,000 ($82.34/SF; $84,000/Unit) on 2/28/2003Sold for $3,000,000 ($58.81/SF; $60,000/Unit) on 11/22/1991
Legal Desc: Lot 1 Greystone Meadows vol 26 pg 129
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# Units:
Avg Unit Size: 830 SF
50
SF of all Units: 41,500
$84,000Price/Unit:
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Spacer
Bed/Bath # % Avg SF Vacant Min/Unit Max/Unit Min/SF Max/SF Min/Unit Max/Unit Min/SF Max/SF %
UNIT MIX AT TIME OF SALE
Units Asking Rent Effective Rent Concessions
2/1.0 2 4.0 - - - - - - - - - - -
2/1.5 12 24.0 - - - - - - - - - - -
2/2.0 36 72.0 - - - - - - - - - - -
Transaction Notes
Building(s):YrBuilt Bldgs Stories Construction Condition1986 8 2 Frame/wood Average1986 1 1 Frame/wood Average1986 1 1 Frame/wood Average
Income/Expense:Broker reported rents at time of sale of $522,000 per year. Market vacancy of 5% and pro forma expenses of $155,000 per year reported bybroker. Units are separately metered.
* Description: This transaction was for a 50 unit apartment complex and a dentist office.* Exchange: This was the seller's downleg in a 1031 exchange.Amenities include his and her sauna. 2002 Real Estate Tax: $42,000
Income Expense Data
($26,100)
$522,000
Effective Gross Income
- Vacancy Allowance
+ Other Income
Gross Scheduled IncomeIncome
$155,000
$42,000
Total Expenses
- Operating Expenses
- TaxesExpenses
Cash Flow
$340,900
- Capital Expenditure
- Debt Service
Net Operating IncomeNet Income
1141 W Swain Rd - Parkview Terrace Club Apartments SOLD50 Unit, 51,011 SF Class B Apartments Building Built in 1985 (con't)
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1141 W Swain Rd - Parkview Terrace Club Apartments SOLD50 Unit, 51,011 SF Class B Apartments Building Built in 1985 (con't)
Bldg Type: Apartments
50
830 SF
# Units:
Avg Unit Size:
Current Building Information
Bldg Status: Built in 1985
51,011 SFBldg Size:
Typical Floor Size: 25,736 SF
Stories: 2
Parking: 50 Surface Spaces are available; 50 Covered Spaces are available; Ratio of 2.00/1,000 SF; 2.00/Unit
Bldg Vacant: 0 SF
Owner Type: Individual
Zoning: R-3, Stockton
Rent/SF/Yr: -
Elevators: 0
Land Area: 2.54 AC
Expenses: 2012 Combined Tax/Ops @ $3903.86/unit
Site Amenities: Air Conditioning, Balcony, Cable Ready, Clubhouse, Dishwasher, Disposal, Fireplace, Heating, Kitchen,Oven, Pool, Range, Recycling, Refrigerator, Spa, Washer/Dryer Hookup
# of Bldgs: 8
Const Type: Wood Frame,
Metering: Individually Metered
Units per AC: 19
Property Mix:
ID: 4435456
General Retail (2.5%)
Location Information
Stockton/Modesto
Lakeview MF/Lincoln Village MF
Metro Market:
Submarket:
County: San Joaquin
Map(Page): Thomas Bros. Guide 324-C6
CBSA: Stockton-Lodi, CA
DMA: Sacramento-Stockton-Modesto, CA
CSA: San Jose-San Francisco-Oakland, CA
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Parcel Number: 097-462-38
Lot 1 Greystone Meadows vol 26 pg 129Legal Description:
County: San Joaquin
Plat Map: 1141 W Swain Rd
1141 W Swain Rd - Parkview Terrace Club Apartments SOLD50 Unit, 51,011 SF Class B Apartments Building Built in 1985 (con't)
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207 S Union Rd - Vernal Apartments
Manteca, CA 95337
Sale on 10/17/2018 for $6,000,000 ($116.93/SF; $109,091/Unit) - Research Complete
55 Unit, 51,312 SF Class C Apartments Building Built in 1971
SOLD
6
Buyer & Seller Contact Info
Recorded Buyer: Recorded Seller: Ghafari Farzad & ShohrehContra Costa Commercial Llc
True Buyer: True Seller: Farzad & Shoreh Ghafari
Farzad Ghafari
PO Box 3683Los Altos, CA 94024(650) 468-7410
Gayle M Ml Ing
Gayle Ing
194 Eureka StSan Francisco, CA 94101(415) 431-8747
Buyer Type: Seller Type: IndividualIndividual
Buyer Broker: Listing Broker: Marcus & Millichap Inc
Jon Holmquist
(415) 625-2117
Marcus & Millichap
Jon Mimms
(559) 476-5580
Marcus & Millichap
Jon Mimms
(559) 476-5580
Marcus & Millichap Inc
Jon Holmquist
(415) 625-2117
Sale Date:
Price/SF:
Sale Price:
Actual Cap Rate:
$116.93
$6,000,000-Confirmed
10/17/2018
Bldg Type:
Land Area:
Year Built/Age:
RBA:
10.14%
Apartments
Built in 1971 Age: 47
51,312 SF
2.81 AC (122,595 SF)
Percent Leased: 100.0%
Transaction Details
Asking Price: -
Price/AC Land Gross: $2,131,893.12
Total Value Assessed:
Improved Value Assessed
Land Value Assessed:
$4,077,000 in 2017
$2,940,000
$1,110,000
Percent Improved: 72.1%
Land Assessed/AC: $394,400
InvestmentSale Type:
GRM/GIM: -/-
ID: 4569085
-
Spacer
Escrow Length: -
Financing: Down payment of $6,000,000.00 (100.0%)
No. of Tenants: 1
Legal Desc: APN: 222-080-210-000
POR NE 1/4 SEC 6, TOWNSHIP 2 S, R 7 E, M.D.B. & M.;
SEC 6, NEC SEC 6 BEARS THE FOLLOWING 2 COURSES: (1) N 86 DEGREES 42' 00" E 54 FT (2) N 03DEGREES 18' 00" W 460.69 FT; S O3 DEGREES 18' 00" E 198.61 FEET; S 86 DEGREES 42'
Tenants at time of sale: Vernal Apartments
Copyrighted report licensed to TRI Commercial - 632653. 2/28/2019
Page 18
Parcel No: 222-080-21
Document No: 115204
Sale History: Sold on 11/7/2018 Non-Arms LengthSold for $6,000,000 ($116.93/SF; $109,091/Unit) on 10/17/2018
Legal Desc: APN: 222-080-210-000
POR NE 1/4 SEC 6, TOWNSHIP 2 S, R 7 E, M.D.B. & M.;
SEC 6, NEC SEC 6 BEARS THE FOLLOWING 2 COURSES: (1) N 86 DEGREES 42' 00" E 54 FT (2) N 03DEGREES 18' 00" W 460.69 FT; S O3 DEGREES 18' 00" E 198.61 FEET; S 86 DEGREES 42'
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# Units:
Avg Unit Size: 860 SF
55
SF of all Units: 47,300
$109,091Price/Unit:
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Bed/Bath # % Avg SF Vacant Min/Unit Max/Unit Min/SF Max/SF Min/Unit Max/Unit Min/SF Max/SF %
UNIT MIX AT TIME OF SALE
Units Asking Rent Effective Rent Concessions
2/1.0 55 100.0 860 - - - - - - - - - -
Bldg Type: Apartments
55
860 SF
# Units:
Avg Unit Size:
Current Building Information
Bldg Status: Built in 1971
51,312 SFBldg Size:
Typical Floor Size: 22,577 SF
Stories: 2
Bldg Vacant: 0 SF
Owner Type: -
Zoning: -
Rent/SF/Yr: -
Elevators: 0
Land Area: 2.81 AC
Expenses: 2017 Tax @ $832.13/Unit
Site Amenities: Heating, Kitchen, Property Manager on Site
ID: 9530684
Location Information
Stockton/Modesto
Manteca/Lathrop MF/Outer Manteca/Lathrop MF
Metro Market:
Submarket:
County: San Joaquin
CBSA: Stockton-Lodi, CA
DMA: Sacramento-Stockton-Modesto, CA
CSA: San Jose-San Francisco-Oakland, CA
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207 S Union Rd - Vernal Apartments SOLD55 Unit, 51,312 SF Class C Apartments Building Built in 1971 (con't)
Copyrighted report licensed to TRI Commercial - 632653. 2/28/2019
Page 19
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