FOR MORE INFORMATION:Joe BoyleSenior Associate

(520) 428-0850jboyle@josephbernard.net

CANYON OASIS3443 E Bermuda St, Tucson, AZ 8571624 units

$1,449,500

PROPERTY ANALYSIS

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CANYON OASIS3443 E Bermuda St, Tucson, AZ 85716

INVESTMENT SUMMARY

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DESCRIPTION

Canyon Oasis Apartments is 24 units, including 20 – 1 bedroom units, and 4 – 2 bedroom units. Many units with interior upgrades that include new floor, paint, bathroom vanity and tiled shower surround. On a large lot with ample parking, providing tenants a nice quiet home to live in.

Fantastic central Tucson location, close to many businesses and restaurants. Three miles from both the University of Arizona and Pima Medical Institute.

HIGHLIGHTS

• Updated interiors• New on-site laundry room• Sparkling Pool• Central Tucson location• Strong occupancy

2

Price: $1,449,500

Units: 24

Building Sq Ft: 14,218

Price/Unit: $60,396

Price/Sq Ft: $101.95

Year Built: 1963

PROPERTY DETAILS

FINANCIAL ANALYSIS

The Professional Approach to Apartment Investing.

AZ • OR • WA • josephbernard.net

Scheduled Monthly Rents

Units Type Est. Sq. Ft.Current

Average RentMonthly Income

Rent at Market

Monthly Income

20 1 BD + 1 BA 575 $521 $10,420 $625 $12,500

4 2 BD + 1 BA 700 $591 $2,365 $725 $2,900

24 $12,785 $15,400

Scheduled Gross Income $153,420 $184,800

• Less: Vacancy (5%) -$7,671 -$9,240

Effective Gross Income $145,749 $175,560

• Plus: RUBS +$14,400 +$14,400

• Plus: Laundry/Other +$2,800 +$2,800

Effective Annual Income $162,949 $192,760

Estimated Expenses

Current Budget

%EGI Per/Unit Amount %EGI Per/Unit Amount

Taxes 7.48% $454 $10,906 6.21% $454 $10,906

Insurance 2.96% $180 $4,320 2.46% $180 $4,320

Utilities 17.80% $1,081 $25,946 14.78% $1,081 $25,946

Professional Management 8.00% $486 $11,664 8.00% $585 $14,044

Maintenance & Repairs 6.59% $400 $9,600 5.47% $400 $9,600

Turnover Reserves 2.47% $150 $3,600 2.05% $150 $3,600

Landscaping 2.06% $125 $3,000 1.71% $125 $3,000

Capital Reserves 3.29% $200 $4,800 2.73% $200 $4,800

Total Est. Annual Expenses 50.66% $3,077 $73,836 43.41% $3,176 $76,216

of EGI Per Unit of EGI Per Unit

Investment Summary

Current Projected

Net Operating Income $89,113 $116,544

Cap Rate 6.15% 8.04%

Debt Service $62,281 $62,281

Cash Flow $26,832 $54,263

Cash Return 7.40% 14.97%

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Proposed FinancingDown Payment $362,375

Down Payment % 25%

Debt Service $62,281

Loan Amount $1,087,125

Interest Rate 4.00%

Term 30 yr. am

PROPERTY PHOTOS

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PROPERTY PHOTOS

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PROPERTY LAYOUT

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SOLD COMPARABLES

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Campbell Plaza Garden1811 E Blacklidge Dr.Tucson, AZ 85719

Sale Date: 2/5/19

Year Built: 1976

Price: $1,600,000

Cap Rate:6.56%

Units: 30

Price/Unit: $53,333

Sq Ft: 14,400

Price/Sq Ft: $111.11

Flower Street3525 E Flower St.Tucson, AZ 85716

Sale Date: 6/4/19

Year Built: 1986

Price: $875,000

Cap Rate:6.59%

Units: 12

Price/Unit: $72,917

Sq Ft: 8,640

Price/Sq Ft: $101.27

Fort Lowell Road4119 E Fort Lowell Rd.Tucson, AZ 85712

Sale Date: 11/5/19

Year Built: 1950

Price: $549,900

Cap Rate:N/A

Units: 6

Price/Unit: $68,738

Sq Ft: 6,058

Price/Sq Ft: $90.77

Riviera Apartments4430 E Pima St.Tucson, AZ 85712

Sale Date: 5/31/19

Year Built: 1963

Price: $861,000

Cap Rate:7.91%

Units: 12

Price/Unit: $71,750

Sq Ft: 11,418

Price/Sq Ft: $75.41

Vista De Monte Apartments2555-2579 E Water St.Tucson, AZ 85716

Sale Date: 6/7/19

Year Built: 1959

Price: $850,000

Cap Rate:6.20%

Units: 13

Price/Unit: $65,385

Sq Ft: 9,791

Price/Sq Ft: $86.81

Palo Verde Plaza Apartments3475 E Water St.Tucson, AZ 85716

Sale Date: 11/25/19

Year Built: 1976

Price: $1,425,000

Cap Rate:6.31%

Units: 24

Price/Unit: $59,375

Sq Ft: 21,042

Price/Sq Ft: $67.72

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RENT COMPARABLES

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AZ • OR • WA • josephbernard.net

Georgetown2510 N Winstel Blvd

Avg Rent: Avg Sq Ft: Rent/Sq Ft:

1 BD $782 580 $1.35

2 BD $903 818 $1.10

Mission Vista Apartments2455 N Dodge Blvd

Avg Rent: Avg Sq Ft: Rent/Sq Ft:

1 BD $641 663 $0.97

2 BD $776 817 $0.95

Arroyo Casitas3233 E Water St

Avg Rent: Avg Sq Ft: Rent/Sq Ft:

1 BD $595 458 $1.30

2 BD $725 860 $0.84

Flower Apartments3623 E Flower St

Avg Rent: Avg Sq Ft: Rent/Sq Ft:

1 BD $549 585 $0.94

2 BD $681 935 $0.73

SUBJECT PROPERTY

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Canyon Oasis3443 E Bermuda St

Avg Rent: Avg Sq Ft: Rent/Sq Ft:

1 BD $519 575 $0.90

2 BD $591 700 $0.84

Dodge Flowers Apartments2505 N Dodge Blvd

Avg Rent: Avg Sq Ft: Rent/Sq Ft:

1 BD $544 580 $0.94

2 BD $675 760 $0.89

AWARDS & RECOGNITIONS

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AZ • OR • WA • josephbernard.net9

America's Fastest Growing Private Companies

Fastest Growing Private 100 Companies

Top 40 Business Leader Under 40

Investment Broker of the Year

Commercial Real Estate POWERLIST

Top Corporate Philanthropy

Top Commercial Real Estate Firm

All Star Award for Advertising and Marketing Excellence

Oregon Ethics in Business

CONTACT INFO

The Professional Approach to Apartment Investing.

AZ • OR • WA • josephbernard.net10

FOR MORE INFORMATION:Joe Boyle

Senior Associate

(520) 428-0850jboyle@josephbernard.net

Arizona Southern Arizona Oregon Washington

9927 E Bell Rd,Suite 130

Scottsdale, AZ 85260

One South Church Ave,Suite 1200

Tucson, AZ 85701

5200 SW Macadam Ave, Suite 300

Portland, OR 97239

4400 NE 7th Ave, Suite 275

Vancouver, WA 98662

(480) 305-5600 (520) 428-0850 (503) 546-9390 (360) 255-0255

The information contained in this package has been obtained from sources we believe to be reliable. While we do not doubt its accuracy, we make noguarantee, warranties or representation, expressed or implied, as to the accuracy. It is the buyers’ sole responsibility to independently confirm itsaccuracy and completeness and bears all risk for any discrepancies. Any projections, square footage, age, opinions, assumptions, or estimates used arefor example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax andother factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independentinvestigation of the property to determine your satisfaction and the suitability of the property for your needs. Parties that receive this information fromoutside of Joseph Bernard, LLC representatives will not be recognized.