22 - Unit Apartment Investment Opportunity...Barcelona Apartments Apartments Street Street Apartments Manor Apartments Street Crossing Apartments Barcelona Apartments Apartments $1,800

Offering MemorandumOffering Memorandum

2222--Unit Apartment Investment OpportunityUnit Apartment Investment Opportunity2222--Unit Apartment Investment OpportunityUnit Apartment Investment Opportunity1032 Elliot Street • Woodland, CA 956951032 Elliot Street • Woodland, CA 95695

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C EN O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap andshould not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedshould not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedinformation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, thefuture projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or anytenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to bereliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding thesematters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures toverify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo orname is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

1032 ELLIOT STREETWoodland, CAACT ID Z0030318

2

1032 ELLIOT STREET • WOODLAND, CA• WOODLAND, CA 95695

INVESTMENT

OVERVIEWOVERVIEW

3


EXECUTIVE SUMMARY OFFERING SUMMARYEXECUTIVE SUMMARY

MAJOR EMPLOYERS

VITAL DATAPrice $2,250,000 CURRENT YEAR 1Down Payment 35% / $787,500 CAP Rate 5.63% 7.76%Loan Amount $1,462,500 GRM 11.91 9.41

Loan Type Proposed New Net Operating Income $126,608 $174,675

Net Cash Flow EMPLOYER # OF EMPLOYEES

Olam Spices and Vegetables 800

Sutter Medical Center 641

Target 577

Walmart 572

Jla Home 550

Interest Rate / Amortization 4.25% / 30 Years

Net Cash Flow After Debt Service

5.11% / $40,273 11.22% / $88,339

Price/Unit $102,273 Total Return 8.24% / $64,928 14.48% / $114,064

Price/SF $236.69

Number of Units 22 Jla Home 550

Travis Credit Union 500

Sutter Health 485

Contadina Foods 400

Walgreens 360

Monsanto 350

UNIT MIX

Number of Units 22

Rentable Square Feet 9,506

Year Built 1965Lot Size 0.49 acre(s)

Public Works Department 275

County of Yolo 259

DEMOGRAPHICS

UNIT MIX

NUMBEROF UNITS UNIT TYPE APPROX.

SQUARE FEET

21 1 Bed / 1 Bath 436

1 Studio 350

22 Total 9,506

1-Miles 3-Miles 5-Miles

2017 Estimate Pop 16,850 59,860 61,609

2010 Census Pop 15,759 55,980 57,597

2017 Estimate HH 5,490 19,849 20,454

2010 Census HH 5,239 18,901 19,471

22 Total 9,506

Median HH Income $44,747 $57,995 $58,264

Per Capita Income $20,791 $25,810 $26,015

Average HH Income $62,385 $76,794 $77,295

#4


OFFERING SUMMARYINVESTMENT OVERVIEW

Marcus & Millichap is pleased to market for sale a 22-unit apartment investment opportunity in Woodland,

California. The building is over 9,500 square and feet sits quietly on approximately half of an acre on a low

INVESTMENT OVERVIEW

traffic street yet conveniently located to all major locations in Woodland.

There are added-value opportunities with excess land at the south end of the lot. Six of the units have large

private balconies hidden behind a tree lined path next to the parking area.

Rare Opportunity to Invest Under 30 Units

All Tenants are on Month-to-Month Basis

Rare Opportunity to Invest Under 30 Units


INVESTMENT HIGHLIGHTS


Pro Forma Rents Achievable at 7.76% Cap Rate

Close to All Major Locations

Priced to Sell !!!


Pro Forma Rents Achievable at 7.76% Cap Rate

Close to All Major Locations

Priced to Sell !!! Priced to Sell !!! Priced to Sell !!!

5

REGIONAL MAP


6

LOCAL MAP


7

AERIAL PHOTO


8

FINANCIAL ANALYSIS


RENT ROLL SUMMARYRENT ROLL SUMMARY

US Post Office – 0.4 Mile Nugget Markets – 1.0 Mile Grocery Outlet – 0.9 MileUS Post Office – 0.4 Mile Nugget Markets – 1.0 Mile Grocery Outlet – 0.9 Mile

9

Woodland Opera House – 0.5 Mile Superior Court of CA – 0.4 Mile Wells Fargo Bank – 0.6 Mile


FINANCIAL

ANALYSISANALYSIS

10

FINANCIAL ANALYSIS


RENT ROLL DETAIL*RENT ROLL DETAIL*

*All rents on a month-to-month basis. Large balconies existing for units 3 through 8. Newest lease renting at $795 per month.

11

*All rents on a month-to-month basis. Large balconies existing for units 3 through 8. Newest lease renting at $795 per month.

FINANCIAL ANALYSIS


OPERATING STATEMENTOPERATING STATEMENT

*Management Expenses: Current manager is paid for free rent only to manage the property.

12

FINANCIAL ANALYSIS


PRICING DETAILPRICING DETAIL

13

1032 ELLIOT STREET

MARKETMARKET

COMPARABLES

14

1032 ELLIOT STREET

SALES COMPARABLES MAP

1032 ELLIOT STREET(SUBJECT)

Redwood Manor Apartments

The Barcelona Apartments

Woodland Ave Apartments

1

2

3 Woodland Ave Apartments

Redwood South Apartments

Gum Avenue

3

4

5

SALES COMPARABLES

ON MARKET COMPARABLES

15

ON MARKET COMPARABLES

PROPERTY NAME

MARKETING TEAM

1032 ELLIOT STREET

SALES COMPARABLES

SALES COMPARABLES ON MARKET COMPARABLES

1032 ELLIOT STREET1032 Elliot Street, Woodland, CA, 95695

REDWOOD MANOR APARTMENTS132 5th St, Woodland, CA, 95695

THE BARCELONA APARTMENTS422 North St., Woodland, CA, 95695

1032 Elliot Street, Woodland, CA, 956951 2

rentpropertyname1 rentpropertyname1 rentpropertyname1

Offering Price: $2,250,000

Price/Unit: $102,273

Price/SF: $236.69

Total No. of Units: 22

Year Built: 1965

Close Of Escrow: 12/4/2018

Sales Price: $1,152,000

Price/Unit: $96,000

Price/SF: $171.43



Sales Price: $960,000

Price/Unit: $96,000

Price/SF: $192.00


rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1

Year Built: 1979 Year Built: 1968

16

PROPERTY NAME

MARKETING TEAM

1032 ELLIOT STREET

SALES COMPARABLES

SALES COMPARABLES ON MARKET COMPARABLES

WOODLAND AVE APARTMENTS15 Woodland Ave, Woodland, CA, 95695

REDWOOD SOUTH APARTMENTS613 2nd St, Woodland, CA, 95695

GUM AVENUE1103-1107 Gum Ave, Woodland, CA, 95776

3 4 5



Sales Price: $2,800,000


Price/SF: $165.68


On Market

List Price: $2,600,000


Price/SF: $225.73


On Market

List Price: $850,000


Price/SF: $177.56



Year Built: 1988 Year Built: 1965 Year Built: 1975

17

8

1032 ELLIOT STREET

RENT COMPARABLES MAP

1032 ELLIOT STREET(SUBJECT)

College Street Apartments

Woodland Manor Apartments

1

2

338 North Street

Elliot Crossing Apartments

The Barcelona Apartments

Carol Apartments

44

3

5

6 Carol Apartments

7

8

9

6

11

12

13

10

14

15

16

13

20

17

18

20

18

PROPERTY NAME1032 ELLIOT STREET

RENT COMPARABLES

AVERAGE RENT - MULTIFAMILY

$2,000

2 BedroomAvg. $888

$900

Studios

Avg. $1,023

$1,000

$1,200

$1,400

$1,600

$1,800

$450

$540

$630

$720

$810

$0

$200

$400

$600

$800

1032 Elliot College Woodland 338 North Elliot The Carol$0

$90

$180

$270

$360

1032 Elliot College Woodland 338 North Elliot The Carol1032 ElliotStreet

CollegeStreet

Apartments

WoodlandManor

Apartments

338 NorthStreet

ElliotCrossing

Apartments

TheBarcelona

Apartments

CarolApartments

1032 ElliotStreet

CollegeStreet

Apartments

WoodlandManor

Apartments

338 NorthStreet

ElliotCrossing

Apartments

TheBarcelona

Apartments

CarolApartments

$1,800

$2,000

1 Bedroom

Avg. $966

$1,000

$1,200

$1,400

$1,600

$1,800

$0

$200

$400

$600

$800

1032 Elliot College Woodland 338 North Elliot The Carol

19

1032 ElliotStreet

CollegeStreet

Apartments

WoodlandManor

Apartments

338 NorthStreet

ElliotCrossing

Apartments

TheBarcelona

Apartments

CarolApartments

PROPERTY NAME

MARKETING TEAM

1032 ELLIOT STREET

RENT COMPARABLES

rentpropertyname1rentpropertyaddress1

1032 ELLIOT STREET1032 Elliot Street, Woodland, CA, 95695

1

COLLEGE STREET APARTMENTS428 Elliot Street, Woodland, CA, 95695

2

WOODLAND MANOR APARTMENTS127 Main Street, Woodland, CA, 95695

rentpropertyaddress1 1 2


Unit Type Units SF Rent Rent/SF Unit Type Units SF Rent Rent/SF Unit Type Units SF Rent Rent/SFUnit Type Units SF Rent Rent/SF

1 Bed 1 Bath 21 436 $752 $1.72

Studio 1 350 $650 $1.86

Total/Avg. 22 432 $747 $1.73

Unit Type Units SF Rent Rent/SF

1 Bdr 1 Bath 26 436 $995 $2.28

Total/Avg. 26 436 $995 $2.28


Studio 1 Bath 32 325 $875 $2.69

1 Bdr 1 Bath 18 480 $1,000 $2.08

Total/Avg. 50 381 $920 $2.42


YEAR BUILT: 1965 YEAR BUILT: 1966 YEAR BUILT: 1940

20

PROPERTY NAME

MARKETING TEAM

1032 ELLIOT STREET

RENT COMPARABLES

3

338 NORTH STREET338 North Street, Woodland, CA, 95695

4

ELLIOT CROSSING APARTMENTS33 W Elliot Street, Woodland, CA, 95695

5

THE BARCELONA APARTMENTS422 North Street, Woodland, CA, 95695

3 4 5


Unit Type Units SF Rent Rent/SF Unit Type Units SF Rent Rent/SF Unit Type Units SF Rent Rent/SFUnit Type Units SF Rent Rent/SF

2 Bdr 1 Bath 21 600 $950 $1.58

Total/Avg. 21 600 $950 $1.58


Studio 1 Bath 12 420 $900 $2.14

1 Bdr 1 Bath 86 570 $1,020 $1.79

2 Bdr 1 Bath 18 910 $1,195 $1.31

Total/Avg. 116 607 $1,035 $1.70


1 Bdr 1 Bath 10 428 $850 $1.99

Total/Avg. 10 428 $850 $1.99


YEAR BUILT: 1966 YEAR BUILT: 1973 YEAR BUILT: 1968

21

PROPERTY NAME

MARKETING TEAM

1032 ELLIOT STREET

RENT COMPARABLES

6

CAROL APARTMENTS539 College Street, Woodland, CA, 95695

6


Unit Type Units SF Rent Rent/SFUnit Type Units SF Rent Rent/SF

2 Bdr 1 Bath 9 550 $925 $1.68

Total/Avg. 9 550 $925 $1.68


YEAR BUILT: 1966

22

Documents

22 - Unit Apartment Investment Opportunity...Barcelona Apartments Apartments Street Street Apartments Manor Apartments Street Crossing Apartments Barcelona Apartments Apartments $1,800