RAMBLING OAKS

CONDOMINIUMS

Asset Information:

Price: $1,400,000.00

Unit Count: 20

Monthly Scheduled Rents: $13,367.00

Occupancy: 100%

$ Per Sq. Ft: $82.44

Total Sq. Feet: 16,981

List Price:

$1,400,000.00

Rambling oaks is

Less than 1/2 mile

from I-35 and

Approximately 5

miles from the

University of

Oklahoma

High Occupancy

with Little

Turnover

20 Units at 100%

Occupancy

$13,367.00 Monthly

Rental Income

DOMAIN

COMMERCIAL, LLC

3600 W. Main Ste. 200 Norman, OK 73072

Kody Roach 580.704.9007

Charlie Nicholson

405.338.7975

I N V E S T M E N T R E A L E S T A T E S P E C I A L I S T S

__________________________________________________________________________________________________________________________________________ All information obtained from Domain Commercial, LLC is provided without representation or warranty, express or implied, as to completeness, accuracy, condition or financial performance of the property. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Kody Roach and Charles Nicholson are acting as brokers under the laws of the State of Oklahoma and they should not be relied upon for legal, tax, financial, or engineering advice. All prospective buyers are encouraged to complete their own inspections of the property

Monthly Scheduled Rents

Unit Type Rental Rate Sq. Ft. Tax Renovated

1020 – A 2BD/1.5BA $685.00 908 $984.00 No

1020 – B 2BD/1.5BA $675.00 680 $737.00 No

1020 – C 2BD/1.5BA $725.00 923 $593.00 No

1022 – A 2BD/1.5BA $650.00 1,197 $1298.00 No

1022 – B 2BD/1.5BA $750.00 934 $1013.00 Yes

1022 – C 2BD/1.5BA $612.00 870 $944.00 No

1022 – D 2BD/1.5BA $685.00 756 $490.00 No

1022 – E 1BD/1BA $575.00 636 $677.00 No

1022 – F 1BD/1BA $575.00 635 $688.00 No

1024 – A 1BD/1BA $620.00 635 $688.00 Yes

1024 – B 1BD/1BA $600.00 635 $688.00 No

1024 – C 2BD/1.5BA $800.00 1,022 $1108.00 Yes

1024 – D 2BD/1.5BA $800.00 1,060 $1,149.00 Yes

1024 – E 2BD/1.5BA $725.00 1,098 $1190.00 No

1024 – F 2BD/1.5BA $740.00 1,060 $1149.00 Yes

1026 – A 2BD/1.5BA $725.00 946 $1025.00 Yes

1026 – B 2BD/1.5BA $700.00 946 $1025.00 No

1026 – C 2BD/1.5BA $675.00 946 $1025.00 Yes

1026 – D 1BD/1BA $575.00 547 $593.00 No

1026 – E 1BD/1BA $575.00 547 $593.00 No

Total - $13,367.00 16,981

$17,657.00

7:Y; 13:N

All information obtained from Domain Commercial, LLC is provided without representation or warranty, express or implied, as to completeness, accuracy, condition or financial performance of the property. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Kody Roach and Charles Nicholson are acting as brokers under the laws of the State of Oklahoma and they should not be relied upon for legal, tax, financial, or engineering advice. All prospective buyers are encouraged to complete their own inspections of the property

6

14

Unit Breakdown

1BD/1.5BA

2BD/1.5BA

685 675725

650750

612685

575 575 620 600

800 800725 740 725 700 675

575 575

Monthly Scheduled Rents

13

7

Renovated Units

Standard

RenovatedFig. 1

Fig. 3

Operating Data Highlights

Income: Income is projected on current market rents from Fig.

2 Monthly Scheduled Rents.

Expenses: (see Expense Breakdown table below for

actual costs)

Real estate taxes are actual.

Utilities are based on actual.

Management fee is actual.

Insurance is actual.

Total expenses are calculated at $4,235.00 per month.

Mortgage and Debt Service: Buyer to obtain new bank financing.

Value-Add Potential: There is potentially $26,856.00/yr. of value-add

potential through renovating older units. The ability

to achieve the new market rents of $800.00/mo. on

2BD/1.5BA and $620.00/mo. on 1BD/1BA renovated

units has been proven in Fig. 3 Monthly Scheduled

Rents. See Value-Add Potential table and illustration

below.

Expenses Breakdown

Value-Add Potential

Illustration of Annual Value-Add Potential

__________________________________________________________________________________________________________________________________________ All information obtained from Domain Commercial, LLC is provided without representation or warranty, express or implied, as to completeness, accuracy, condition or financial performance of the property. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Kody Roach and Charles Nicholson are acting as brokers under the laws of the State of Oklahoma and they should not be relied upon for legal, tax, financial, or engineering advice. All prospective buyers are encouraged to complete their own inspections of the property

Actual Monthly Expenses Insurance = $640.00/mo.

Management = $650.00/mo.

Lawn Care = ~$400.00/mo.

Water = ~$1050.00/mo.

Electric = ~$75.00/mo.

Taxes = ~$1420.00/mo.

Total = $4,235.00/mo.

New Market Rental Rates: 14 2BD renovated at $800/mo. = $11,200.00

6 1BD Renovated at $620.00/mo. = $3,720.00/mo.

Total: $14,920.00/mo. or $179,040.00/yr.

$640

$650

$400

$1,050

$75

$1,420

Insurance

Management

Lawn Care

Water

Electric

Taxes

$152,184

$179,040

STANDARD

RENOVATED

Financial Projection

_________________________________________________________________________________________________________________________________________ All information obtained from Domain Commercial, LLC is provided without representation or warranty, express or implied, as to completeness, accuracy, condition or financial performance of the property. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Kody Roach and Charles Nicholson are acting as brokers under the laws of the State of Oklahoma and they should not be relied upon for legal, tax, financial, or engineering advice. All prospective buyers are encouraged to complete their own inspections of the property

Property Operating Data

Property: Rambling Oaks Condominiums

Location: 1020 - 1026 Rambling Oaks Dr. – Norman, OK

Number of Units: 20

Net Rentable SF: 16,981

Avg. Unit Size: 815.05

No. Bdrm/Bth Avg.Sq.Ft. Total Sq.Ft. Avg. Rent Roll Rent/Sq.Ft. Gross/Mo.* Gross/Yr.*

14 2BD/1.5BA 791 13,336 $661.57 $1.20 $9,261.98 $111,143.76

6 1BD/1BA 606 2,424 $586.67 $1.03 $3,520.02 $42,220.24

20 1,397 15,760* $624.12 $1.12 $12,782 $153,364

PROFORMA

INCOME Annual Per Unit

Market Rents $179,040.00 $8,952.00

Loss Gain to Lease $ 0.00 $0.00

Gross Potential Rent $179,040.00 $8,952.00

Vacancy (5%) ($9,600.00) $480.00

Effective Rental Income $169,440.00 $8,472.00

Other Income $0 $0.00

Utility Income $0 $0.00

Gross Operating Income $169,440.00 $8,472.00

EXPENSES

R.E. Taxes (Actual) $17,657.00 $882.85

Insurance (Actual) $7,680.00 $384.00

Electricity (Actual) $900.00 $45.00

Gas $0.00 $0.00

Water/Sewer/Trash (Actual) $12,600.00 $630.00

Maintenance $3,000.00 $150.00

Management (Actual) $7,800.00 $390.00

Advertising $0.00 $0.00

Administration $600.00 $30.00

Gross Operating Expenses $50,237.00 $2,511.85

Net Operating Income $119,203.00 $5,960.15

*Real Estate Tax Information: 2017

*15,080 Total Sq.Ft. is based on Average Sq.Ft. – Actual Total Sq.Ft is 16,301

*Gross/Mo. and Gross/Yr. based on Average amounts

77%

23%

Projected Financials

Income

Expenses

Land Survey

_________________________________________________________________________________________________________________________________________ All information obtained from Domain Commercial, LLC is provided without representation or warranty, express or implied, as to completeness, accuracy, condition or financial performance of the property. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Kody Roach and Charles Nicholson are acting as brokers under the laws of the State of Oklahoma and they should not be relied upon for legal, tax, financial, or engineering advice. All prospective buyers are encouraged to complete their own inspections of the property

Property Manager Notes

Rambling Oaks Condominiums are located on the west side of I-35. The property is adjacent to an assisted

living facility, Rambling Oaks Assisted Living. I believe when the four condominium buildings were built they

were first used to house support staff members employed at the assisted living facility. Perhaps there were

extended stay units where family or friends could visit their loved ones as well. At any rate, this has helped

maintain a quiet and quality resident base at Rambling Oaks Condos. The buildings are brick with vinyl siding.

It is well landscaped and has 62 uncovered parking spaces.

The owners have completely renovated seven units and have done significant cosmetic repairs and appliance

replacement on another four. We have slowly been increasing the rental rates when units become vacant (which

is rare) but have not been aggressive with this. Some of the residents who have lived there before we began

managing it have retained their rental rate.

I can foresee increasing the rental rates as renovations are completed on the remaining units (new carpet, faux

wood blinds, outside stair replacements, new appliances, tile, ect.). We retain many of the residents but when a

vacancy occurs it is relatively easy to lease out due to the quiet nature of the area, quality residents and close

proximity to I-35.

The units consist of 1BD/1BA Flats and 2BD/1.5BA Townhomes where the bedrooms and master bath expand

over the living room and kitchen. The 2BD units have a small backyard that has been zero-scaped so there is no

need for lawn servicing by the residents. We allow residents to have small pets with a $350.00 non-refundable

pet fee. All units come equipped with washer/dryer, fully furnished kitchen with garbage disposal and

dishwashers.

_________________________________________________________________________________________________________________________________________ All information obtained from Domain Commercial, LLC is provided without representation or warranty, express or implied, as to completeness, accuracy, condition or financial performance of the property. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Kody Roach and Charles Nicholson are acting as brokers under the laws of the State of Oklahoma and they should not be relied upon for legal, tax, financial, or engineering advice. All prospective buyers are encouraged to complete their own inspections of the property