MULTIFAMILY PROPERTY FOR SALE

2313 N FITZHUGHDALLAS, TX 75204

MATTEO FAETH

469.554.0430matteo@perryguestco.com

Presented By

PERRY GUEST COMPANY

2517 Thomas Avenue, Dallas, TX 75201

214.528.9250 | perryguestco.com

CONFIDENTIAL OFFERING MEMORANDUM | 2

OFFERING SUMMARY

Sale Price: $975,000

Number Of Units: 8

Cap Rate: 5.95%

NOI: $58,034

Lot Size: 0.21 Acres

Year Built: 1955

Building Size: 5,600

Price / SF: $174.11

Price / Door: $121,875.00

Located in the red hot Fitzhugh Corridor in East Dallas, 2313 N Fitzhugh presents a light value add opportunity. Owner haslightly remodeled 6 out of the 8 units and has increased rents. However, take it a step further and get full market rents.Property has been landscaped, irrigated and is gated. Property is separately metered for electricity and surrounded by tonsof new Townhome and Class A developments. Property features a great rent alternative to all new construction in the area.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Located in a blistering hot development area in East Dallas

• Separately Metered for Electricity

• Ability to renovate and increase rents

2313 N FITZHUGHDALLAS, TX 75204

EXECUTIVE SUMMARY

INCOME SUMMARY PER DOOR

Rental Income $100,800 $12,600

5% Vacancy -$5,040 -$630

Gross Income $95,760 $11,970

EXPENSE SUMMARY PER DOOR

Maintenance $2,791 $348

Utilities $6,829 $853

Administrative $5,250 $656

Insurance $4,290 $536

Taxes $18,564 $2,320

Gross Expenses $37,725 $4,715

Net Operating Income $58,034 $7,254

CONFIDENTIAL OFFERING MEMORANDUM | 3

2313 N FITZHUGHDALLAS, TX 75204

INCOME & EXPENSES

UNIT

NUMBER

UNIT

BED

UNIT

BATH

UNIT

SIZE (SF)

LEASE

START

LEASE

END

CURRENT

RENT

CURRENT

RENT (PER SF)

MARKET

RENT

MARKET

RENT/SF

1 1 1 700 11/25/2017 11/30/2018 $895 $1.28 $1,050 $1.50

2 1 1 700 3/9/2018 3/30/2019 $850 $1.21 $1,050 $1.50

3 1 1 700 10/1/2017 10/31/2018 $900 $1.29 $1,050 $1.50

4 1 1 700 4/27/2018 5/31/2019 $850 $1.21 $1,050 $1.50

5 1 1 700 3/1/2018 3/31/2019 $895 $1.28 $1,050 $1.50

6 1 1 700 MTM MTM $550 $0.79 $1,050 $1.50

7 1 1 700 MTM MTM $695 $0.99 $1,050 $1.50

8 1 1 700 3/1/2018 3/31/2019 $850 $1.21 $1,050 $1.50

Totals/Averages 5,600 $6,485 $1.16 $8,400 $1.50

CONFIDENTIAL OFFERING MEMORANDUM | 4

2313 N FITZHUGHDALLAS, TX 75204

RENT ROLL

CONFIDENTIAL OFFERING MEMORANDUM | 5

2313 N FITZHUGHDALLAS, TX 75204

ADDITIONAL PHOTOS

CONFIDENTIAL OFFERING MEMORANDUM | 6

SUBJECT PROPERTY UNIT TYPE RENT/SF AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

2313 N Fitzhugh

Dallas, TX 75204

1 br / 1 ba $1.16 0 SF 5,600 SF 8 100.0%

RENT COMPS UNIT TYPE RENT/SF AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

Apartments at M Streets1925 MoserDallas, TX 75206

1-1 $1.92 650 SF 65,620 SF - -

5609 RossDallas, TX75206

Studio $2.50 400 SF 4,483 SF 12 100%

2106 BennettDallas, TX75204

1-1 $1.77 650 SF 13,485 SF - -

Totals/Averages $2.06 $2.06 567 SF 27,863 SF 12 100%

1

2

3

2313 N FITZHUGHDALLAS, TX 75204

RENT COMPS SUMMARY

CONFIDENTIAL OFFERING MEMORANDUM | 7

1 1925 MoserDallas, TX 75206

APARTMENTS AT M STREETS2 Dallas, TX

75206

5609 ROSS3 Dallas, TX

75204

2106 BENNETT

2313 N Fitzhugh | Dallas, TX 75204SUBJECT PROPERTY

2313 N FITZHUGHDALLAS, TX 75204

RENT COMPS MAP

CONFIDENTIAL OFFERING MEMORANDUM | 8

2313 N FITZHUGHDALLAS, TX 75204

REGIONAL MAP

1 MILE 2 MILES 3 MILES

Total population 32,117 93,470 167,657

Median age 31.0 32.9 33.1

Median age (male) 32.0 33.5 33.6

Median age (female) 29.3 32.2 32.4

Total households 14,062 46,535 79,278

Total persons per HH 2.3 2.0 2.1

Average HH income $65,414 $94,686 $102,366

Average house value $235,893 $278,242 $311,330

* Demographic data derived from 2010 US Census

CONFIDENTIAL OFFERING MEMORANDUM | 9

2313 N FITZHUGHDALLAS, TX 75204

DEMOGRAPHICS REPORT

POPULATION 1 MILE 2 MILES 3 MILES

Total population 32,117 93,470 167,657

Median age 31.0 32.9 33.1

Median age (male) 32.0 33.5 33.6

Median age (Female) 29.3 32.2 32.4

HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES

Total households 14,062 46,535 79,278

# of persons per HH 2.3 2.0 2.1

Average HH income $65,414 $94,686 $102,366

Average house value $235,893 $278,242 $311,330

* Demographic data derived from 2010 US Census

2313 N FITZHUGHDALLAS, TX 75204

DEMOGRAPHICS MAP

CONFIDENTIAL OFFERING MEMORANDUM | 10

CONFIDENTIAL OFFERING MEMORANDUM | 11

CONFIDENTIALITY & DISCLAIMER

All materials and information received or derived from Perry Guest Company its directors, officers,agents, advisors, affiliates and/or any third party sources are provided without representation orwarranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack ofcompliance with applicable governmental requirements, developability or suitability, financialperformance of the property, projected financial performance of the property for any party’s intendeduse or any and all other matters.

Neither Perry Guest Company its directors, officers, agents, advisors, or affiliates makes anyrepresentation or warranty, express or implied, as to accuracy or completeness of the any materialsor information provided, derived, or received. Materials and information from any source, whetherwritten or verbal, that may be furnished for review are not a substitute for a party’s active conduct ofits own due diligence to determine these and other matters of significance to such party. Perry GuestCompany will not investigate or verify any such matters or conduct due diligence for a party unlessotherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including through appropriatethird party independent professionals selected by such party. All financial data should be verified bythe party including by obtaining and reading applicable documents and reports and consultingappropriate independent professionals. Perry Guest Company makes no warranties and/orrepresentations regarding the veracity, completeness, or relevance of any financial data orassumptions. Perry Guest Company does not serve as a financial advisor to any party regarding anyproposed transaction. All data and assumptions regarding financial performance, including that usedfor financial modeling purposes, may differ from actual data or performance. Any estimates of marketrents and/or projected rents that may be provided to a party do not necessarily mean that rents canbe established at or increased to that level. Parties must evaluate any applicable contractual andgovernmental limitations as well as market conditions,vacancy factors and other issues in order todetermine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should bediscussed by the party with a certified public accountant or tax attorney. Title questions should bediscussed by the party with a title officer or attorney. Questions regarding the condition of theproperty and whether the property complies with applicable governmental requirements should bediscussed by the party with appropriate engineers, architects, contractors, other consultants andgovernmental agencies. All properties and services are marketed by Perry Guest Company incompliance with all applicable fair housing and equal opportunity laws.

2313 N FITZHUGHDALLAS, TX 75204

DISCLAIMER