HER Commercial Real Estate Services – 7625 Paragon Rd. Suite E. Dayton, OH 45459

$5,300,000FOR SALE

David Nianouris

Commercial & Investment Real Estate Specialist

David.nianouris@HERRealtors.com

herrealtors.com/david.nianouris

937.431.6489

DAYTON SINGLE FAMILY

HOMES PORTFOLIO 149 UNITS

SEPTEMBER 2020

Mo Zahedi

Broker/ Owner | Glasshouse Realty Group

Mo@z-kgroup.comwww.z-kgroup.com

937.416.6909

Glasshouse Realty Group | 226 E. Sixth Street, Dayton, OH 45402

LOW INCOME TAX CREDIT HOUSING

149 UNITS

DAYTON, OH

6.75 CAP RATE

Price: $5,300,000

County: Montgomery

City: Dayton

Building Size: Range from 1,275 SQ FT to 1,444 SQ FT

Year Built: 2004 – 49 Unit

2005 – 60 Unit

2006 – 40 Unit

Zoning: Residential Single Family

Parking Spaces: 2 typical plus garage

Roof: Asphalt Shingle

Appliances: Range, Dishwasher, & Refrigerator

Smoke Alarm: Yes

Ceiling Height: 8 ft.

Heating: High Efficiency Gas

Cooling: Central

Electric: 100 Amp Circuit Breakers & GFI in Bath + Kitchen

Baths: 2 per unit

Construction: Wood Frame & Vinyl Siding

Poured Concrete Basements (2-Story Homes)

Occupancy: Tenants Rights

• Offering consists of 149 Single Family Homes all within a 4 mile radius of each other. constructed

between 2003-2005. New investor will need to comply with Low Income Housing Tax Credit

Guidelines.

• 24 - (3) Bedroom Homes and 125 – (4) Bedroom Homes in both Ranch and Two Story styles.

• Historic occupancy rate is 95%.

• Portfolio will be offered free and clear of all existing debt.

• Majority of the homes sit in a Qualified Census Tract (QCT) and Opportunity Zone, which offers a

unique investment opportunity.

Unit Description

• 149 Scattered Site Single Family

Homes

• 24 Three Bedroom Two Stories

w/ Basements

• 100 Four Bedroom Two Stories

w/ Basements

• 25 Four Bedroom Single Level

on Slab

• High Efficiency Gas HVAC

Systems

• Poured Concrete Basements

• All Units have 1 Car Garage

• Oak Cabinetry in Kitchens &

Baths

• Front Porches

• 100 Amp Electrical Circuit

Panels

• Vinyl Exterior Siding

OFFERING ENTIRE PORTFOLIO OF 149 HOMES

OR AVAILABLE IN 3 PACKAGES

ENTIRE PORTFOLIO $5,300,000

40 UNITS* 49 UNITS* 60 UNITS*

Year Built 2006 Year Built 2004 Year Built 2005

Placed in Service

11/7/2006

Placed in Service

6/9/2004

Palced in Service

6/9/2004

End of TCCP

12/31/2021

End of TCCP

12/31/2018

End of TCCP

12/31/2019

Final Year of LIHTC

Restrictions: 2035

Final Year of LIHTC

Restrictions: 2033

Final Year of LIHTC

Restrictions: 2034

Final Year of HOME:

2037 *Prospective purchasers should review the Restrictive Conveyance for each grouping

of homes. Attachments for review will be located on the CoStar/LoopNet listing, and

upon request can be provided.

Price: $5,300,000

Price per Unit : $35,570

Sale Type: Investment

Status: Active

Number of Properties: 3

Total Single Family Homes: 149 Units

Dayton Homes I, II, &Ecumenical Homes$5,300,000

Low Income Tax Credit Housing. Offering consists of149 Single Family Homes all within a 4 mile radius ofeach other. Constructed between 2003-2005. NewInvestor will need to comply with Low Income HousingTax Credit Guidelines.

24 - (3) Bedroom Homes 125 - (4) Bedroom Homes inboth Ranch and Two Story Styles.

Dayton Homes I, II, & Ecumenical Homes

Property Name/Address, City, State Property Type Size Year Built Individual Price

4629 Cummings Ct,Dayton, OH

Multifamily 60 Units 2005 $1,800,000

330 Mercer Ave,Dayton, OH

Multifamily 49 Units 2004 $1,850,000

1220 Trieschman Ave,Dayton, OH

Multifamily 40 Units 2006 $1,750,000

**Figures used are actual operating figures with adjustments to reflect outside Property

Managements vs. Corporate Employees with offsite office facility.

*** 2020 Financials reflect 7 months of reporting.

FINANCIAL INCOME STATEMENT**

NOI SNAPSHOT

40 Unit 49 Unit 60 Unit TOTAL

2018 $97,360 $178,426 $123,692 $399,478

2019 $77,681 $139,802 $102,588 $320,071

2020 $83,210*** $85,442*** $81,045*** $249,697***

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FLOOR PLANS

3 & 4 Bedroom Family Homes

1 & 2-Story Floor Plans Close to Public Transportation

Front Porches Minutes to Downtown

Attached/Detached Garages Window Treatments

High Efficiency Furnaces Washer/Dryer Connections

Fully Equipped Kitchens

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Ecumenical Homes Dayton Homes II New Dayton Homes I

CONFIDENTIALITY, DISCLOSURE, PROOF OF FUNDS AGREEMENT

This agreement entered into this _______ day of __________, 2020, by and HER Realtors & Glasshouse Realty and ____________________________, Prospective Purchaser RECITALS The parties hereto are interested in meeting to discuss the possibility of Seller providing: As a result of these preliminary discussions, the parties hereto will continue such discussions, including the possible exchange of certain financial and non financial information relative to each party. Both parties understand the necessity for keeping this information confidential. AGREEMENT NOW, THEREFORE, for valuable consideration the parties hereto, for themselves, their officers, agents, employees, successors and assigns, agree as follows: 1. Without the specific written consent of the other party, neither party hereto shall disclose to any third party, the substance or subject matter of any information provided to it or obtained during the course of any meetings between the parties. This shall include, but not be limited to, any information disclosed about the future strategic plans, financial and regulatory matters, and any documents reviewed by either party. Notwithstanding the forgoing, either party may disclose Non-Public Personal Information or Confidential Corporate Information to comply with a civil, criminal or regulatory investigation or subpoena or summons issued by a federal, state or local authority, and response to judicial process 2. Each party agrees that any information provided shall be safely kept and only provided to those officers, agents, and employees of each party who need to know such information in connection with this agreement. It shall be the responsibility of each party to notify those persons having access to this information that they are bound by this agreement. 3. All notes, memoranda, correspondence, and other writings of any nature relating to this agreement shall also remain confidential and not be disclosed to third parties. 4. The parties hereto further acknowledge that information received by either party from the other is of a confidential nature and each party hereto will treat all information, whether tangible or intangible, that is not already public knowledge, as confidential and proprietary information, and will not make such information available to any other person or entity. Each party further

agrees that it will use information obtained from the other party only for the purpose of performing its obligations under this agreement, and for no other purpose. The parties hereto acknowledge that personal information on persons or entities being furnished to the other party may fall within the privacy provisions of the Gramm-Leach-Bliley Act, and to the extent that GLBA may apply, each party shall comply with the relevant provisions of the Act, if applicable. 5. Each party agrees to indemnify and hold the other party harmless against any claim, loss, damage, expense, or cost, including reasonable attorney fees, arising out of any claim by any third party as a result of a party’s breach of this confidentiality agreement. The parties hereto acknowledge and agree that the confidential information is of a special and extraordinary character, and that a breach of this agreement with regard to that confidential information will cause the disclosing party irreparable injury and damage, and the disclosing party shall be entitled, in addition to all other remedies available to it, to seek injunctive and other equitable relief to prevent or otherwise redress the breach. 6. This agreement shall be governed by the laws of the State of Ohio. 7. The information contained in this offering memorandum has been obtained from sources we believe reliable; however, HER Realtors & Glasshouse Realty has not verified, and will not verify, any of the information contained herein, nor has HER Realtors & Glasshouse Realty conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. 8. Any prospective Purchaser/Investor shall provide Proof of Funds or otherwise show financial ability to acquire properties for the asking price of $5,300,000. Executed this_____day of______, 2020.

By_____________________________________ Seller or Seller’s agent

_____________________________________ Purchaser or authorized Purchaser’s agent on behalf of Purchaser