IPANEMA APARTMENTS OFFERING MEMORANDUM|120 8TH … · IPANEMA APARTMENTS. CRE Advisor Multifamily Hospitality Development. NMHC PAC Contributor Tel: (305) 733 -6066. 1200 Brickell

IPANEMA APARTMENTS O F F E R I N G M E M O R A N D U M | 120 8TH AVENUE • MIAMI, FL

NON-ENDORSEMENT AND DISCLAIMER NOTICE

P R E S E N T E D B Y

Arthur D. Porosoff

CRE Advisor Multifamily Hospitality DevelopmentNMHC PAC ContributorTel: (305) 733-6066Fax: (305) [email protected]: FL SL31603791200 Brickell Avenue #1470 Miami, FL 33131

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 E

Non-EndorsementsD Stone Realty LLC is not affiliated with, sponsored by, or endorsed by anycommercial tenant or lessee identified in this marketing package. The presence ofany corporation's logo or name is not intended to indicate or imply affiliation with, orsponsorship or endorsement by, said corporation of D Stone Realty LLC, itsaffiliates or subsidiaries, or any agent, product, service, or commercial listing of DStone Realty LLC, and is solely included for the purpose of providing tenant lesseeinformation about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR D STONE REALTY LLC AGENT FOR MORE DETAILS.

DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OFVALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information hasbeen secured from sources we believe to be reliable, but we make norepresentations or warranties, express or implied, as to the accuracy of theinformation. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. D Stone Realty LLC is aservice mark of D Stone Realty LLC. All rights reserved.

mailto:[email protected]

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01

AREA HIGHLIGHTS 02Aerials

Property Photo

FINANCIAL ANALYSIS 03Rent Roll Summary

Rent Roll Detail

Operating Statement

Pricing Detail

MARKET COMPARABLES 04Comparables

MARKETING OVERVIEW 05


IPANEMA APARTMENTSMiami, FL

Arthur D. Porosoff



INVESTMENTOVERVIEW

5

IPANEMA APARTMENTS 120 8TH AVENUE

6


7


8


FINANCIAL ANALYSIS

RENT ROLL SUMMARY

10

IPANEMA APARTMENTS FINANCIAL ANALYSIS

Current Potential# of Avg Sq Rental Average Average Monthly Average Average Monthly

Unit Type Units Feet Range Rent Rent / SF Income Rent Rent / SF Income1 Bed +Den /1.5 Bathroom 20 730 $1,250 - $1,400 $1,344 $1.84 $26,875 $1,511 $2.07 $30,2252 Bedroom/2 Bathroom 42 846 $1,300 - $1,600 $1,539 $1.82 $64,625 $1,770 $2.09 $74,350Totals/Weighted Averages 62 809 $1,476 $1.83 $91,500 $1,687 $2.09 $104,575

Gross Annualized Rents $1,098,000 $1,254,900

1 Bed + Den/1.5 Bathroom32%

2 Bedroom/2 Bathroom68%

Unit Distribution

$1.81 SF

$1.81 SF

$1.82 SF

$1.82 SF

$1.83 SF

$1.83 SF

$1.84 SF

$1.84 SF

$1.85 SF

1200

1250

1300

1350

1400

1450

1500

1550

1600

1 Bed + Den/1.5 Bathroom 2 Bedroom/2 Bathroom

Rent per SF/MonthRe

nt p

er M

onth

Unit Type

Unit Rent

Rent Rent SF

RENT ROLL DETAIL

11


Current Current Potential PotentialSquare Rent / Rent / SF/ Rent / Rent/ SF/

Unit Unit Type Feet Month Month Month Month501 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,750 $2.07502 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,525 $2.09503 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,750 $2.07504 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,525 $2.09505 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,750 $2.07506 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,750 $2.07507 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,525 $2.09508 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,800 $2.13509 2 Bedroom/2 Bathroom 846 $1,475 $1.74 $1,800 $2.13601 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13602 1 Bed +Den /1.5 Bathroom 730 $1,325 $1.82 $1,525 $2.09603 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,800 $2.13604 1 Bed +Den /1.5 Bathroom 730 $1,250 $1.71 $1,525 $2.09605 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13606 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,800 $2.13607 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,525 $2.09608 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13609 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13701 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13702 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,525 $2.09703 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13704 1 Bedroom/1.5 Bathroom 730 $1,375 $1.88 $1,525 $2.09705 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13706 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,800 $2.13707 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,525 $2.09708 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,750 $2.07709 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,600 $1.89801 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,600 $1.89802 1 Bed +Den /1.5 Bathroom 730 $1,300 $1.78 $1,400 $1.92803 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,600 $1.89804 1 Bed +Den /1.5 Bathroom 730 $1,325 $1.82 $1,400 $1.92805 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,600 $1.89806 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,600 $1.89807 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,400 $1.92808 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13809 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,800 $2.13901 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,800 $2.13902 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,400 $1.92903 2 Bedroom/2 Bathroom 846 $1,400 $1.65 $1,800 $2.13904 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,400 $1.92905 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13906 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,800 $2.13907 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,575 $2.16908 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,800 $2.13909 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13

RENT ROLL DETAIL

12


Current Current Potential PotentialSquare Rent / Rent / SF/ Rent / Rent/ SF/

Unit Unit Type Feet Month Month Month Month1001 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.131002 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,575 $2.161003 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.131004 1 Bed +Den /1.5 Bathroom 730 $1,250 $1.71 $1,575 $2.161005 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,800 $2.131006 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,800 $2.131007 1 Bed +Den /1.5 Bathroom 730 $1,400 $1.92 $1,575 $2.161008 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,800 $2.131009 2 Bedroom/2 Bathroom 846 $1,325 $1.57 $1,800 $2.131101 2 Bedroom/2 Bathroom 846 $1,300 $1.54 $1,800 $2.131102 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,575 $2.161103 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.131104 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,575 $2.161105 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,800 $2.131106 2 Bedroom/2 Bathroom 846 $1,450 $1.71 $1,800 $2.131107 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,575 $2.161108 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.131109 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13Total 50,862 $92,875 $1.83 $106,100 $2.09

OPERATING STATEMENT

13


Income Current Year 1 Per Unit Per SF Gross Potential Rent 1,254,900 1,292,547 20,848 25.78

Loss / Gain to Lease (156,900) 12.5% 0 0 0.00

Gross Current Rent 1,098,000 1,292,547 20,848 25.78

Physical Vacancy (43,920) 4.0% (51,702) 4.0% (834) (1.03)

Economic VacancyTotal Vacancy ($43,920) 4.0% ($51,702) 4.0% ($834) ($1)

Economic Occupancy 96.00% 96.00%

Effective Rental Income 1,054,080 1,240,845 20,014 24.75 Other Income

NSF Fees/Pet Fee/App. Fee/Late Fee 12,475 12,475 201 0.25 Parking Income 700 700 11 0.01

Total Other Income $13,175 $13,175 $213 $0.26

Effective Gross Income $1,067,255 $1,254,020 $20,226 $25.01

Expenses Current Year 1 Per Unit Per SF

Real Estate Taxes 148,619 221,865 3,578 4.43 Insurance 48,470 48,470 782 0.97

Util

ities Utilities - Electric 36,228 36,228 584 0.72

Utilities - Water & Sewer 39,126 39,126 631 0.78 Cleaning/Payroll 12,000 12,000 194 0.24

Op

erat

ing

Exp

ense

s

Trash Removal 11,202 11,202 181 0.22 Repairs & Maintenance 28,513 28,350 457 0.57 Landscaping 2,400 2,400 39 0.05 Pool Maintenance 3,721 3,721 60 0.07 Alarm Monitoring/Inspection 4,011 4,011 65 0.08 Elevator/Pest Control 11,340 11,340 183 0.23 Operating Reserves 12,000 12,000 194 0.24

Management Fee 32,018 3.0% 37,621 3.0% 607 0.75 Total Expenses $389,647 $468,333 $7,554 $9.34 Expenses as % of EGI 36.5% 37.3%

Net Operating Income $677,608 $785,687 $12,672 $15.67

TAX CARDS

14


PRICING DETAIL

15


Summary Operating Data

Price $16,500,000

Down Payment $16,500,000 100%

Number of Units 62 Income Current Year 1Price Per Unit $266,129 Gross Scheduled Rent $1,098,000 $1,292,547

Price Per SqFt $329.13 Less: Vacancy/Deductions 4.0% $43,920 4.0% $51,702

Rentable SqFt 50,132 Total Effective Rental Income $1,054,080 $1,240,845

Lot Size 0.48 Acres Other Income $13,175 $13,175

Approx. Year Built 2010 Effective Gross Income $1,067,255 $1,254,020

Less: Expenses 36.5% $389,647 37.3% $468,333

Net Operating Income $677,608 $785,687

Returns Current Year 1 Reno Cash Flow $677,608 $785,687CAP Rate 4.11% 4.76% 0.00% Debt Service $0 $0

GRM 15.03 12.77 0.00Net Cash Flow After Debt Service

4.11% $677,608 4.76% $785,687

Cash-on-Cash 4.11% 4.76% 0.00% Principal Reduction $0 $0

Debt Coverage Ratio N/A N/A N/A Total Return 4.11% $677,608 4.76% $785,687

Financing 1st Loan Expenses Current Year 1Loan Amount $0 Real Estate Taxes $148,619 $221,865Loan Type Free and Clear Insurance $48,470 $48,470Interest Rate N/A Utilities - Electric $36,228 $36,228Amortization N/A Utilities - Water & Sewer $39,126 $39,126Year Due N/A Cleaning/Payroll $12,000 $12,000

Loan information is subject to change. Contact your Marcus & Millichap Capital Corporation representative.

Trash Removal $11,202 $11,202

Repairs & Maintenance $28,513 $28,350

# Of Units Unit Type SqFt/Unit Scheduled Rents Market Rents Landscaping $2,400 $2,40020 1 Bed + Den/1.5 Bathroom 730 $1,344 $1,511 42 2 Bedroom/2 Bathroom 846 $1,539 $1,770 Pool Maintenance $3,721 $3,7210 Alarm Monitoring/Inspection $4,011 $4,0110 Elevator/Pest Control $11,340 $11,340

Operating Reserves $12,000 $12,000

IRR Year IRR UnleveredIRR

UnleveredManagement Fee $32,018 $37,621

5 0.00% 0.00% Total Expenses $389,647 $468,3337 0.00% 0.00% Expenses/Unit $6,285 $7,55410 -8.65% 0.00% Expenses/SF $7.77 $9.34

COMPARABLES

SALES COMPARABLES MAP

IPANEMA APARTMENTS(SUBJECT)

5810-5840 SW 57th Ave

Oleander Portfolio

1515 San Remo Ave & 1500 Venera Ave

800-801 Capri St

SALES COMPARABLES

1

2

3

4

SALES COMPARABLES MAP

17

IPANEMA APARTMENTS

(SUBJECT)

SALES COMPARABLES

18

IPANEMA APARTMENTS

$0.00

$70.00

$140.00

$210.00

$280.00

$350.00

$420.00

$490.00

$560.00

$630.00

$700.00

5810-5840SW 57th

Ave

OleanderPortfolio

1515San RemoAve & 1500Venera Ave

800-801Capri St

Average Price Per Square Foot

Avg. $304.09

$0

$40,000

$80,000

$120,000

$160,000

$200,000

$240,000

$280,000

$320,000

$360,000

$400,000

5810-5840SW 57th

Ave

OleanderPortfolio

1515San RemoAve & 1500Venera Ave

800-801Capri St

Average Price Per Unit

Avg. $247,362

1

Units Unit Type

Close Of Escrow: 3/28/2019 46 1 Bdr 1.5 Bath

Sales Price: $21,000,000 1 2 Bdr 1 Bath

Price/Unit: $259,259 24 2 Bdr 2 Bath

Price/SF: $292.62 1 2 Bdr 3 Bath

Total No. of Units: 81 9 3 Bdr 2 Bath

Year Built: 1965

NOTES- Zoning: RU-4

5810-5840 SW 57TH AVE5810-5840 SW 57th Ave, Miami, FL, 33143

Units Unit Type

Close Of Escrow: 12/14/2018 37 1 Bdr 1 Bath


Price/Unit: $180,597

Price/SF: $105.09

Total No. of Units: 67

Year Built: 2009

2

NOTES

- Zoning: T6-8 O

OLEANDER PORTFOLIO1970 NW 7th St & 406 NW 22nd Ave, Miami, FL, 33125

SALES COMPARABLES

19

IPANEMA APARTMENTS

Units Unit Type

Close Of Escrow: 11/30/2018 9 Studio 1 Bath



Price/SF: $617.16


Year Built: 1965

3

NOTES

- Zoning: A-17 & A-13

1515 SAN REMO AVE & 1500 VENERA AVE1515 San Remo Ave & 1500 Venera Ave, Miami, FL, 33146

4

Units Unit Type

Close Of Escrow: 10/30/2017 2 Studio 1 Bath



Price/SF: $201.47


Year Built: 1969

NOTES

- Zoning: CB

800-801 CAPRI ST 800-801 Capri St, Coral Gables, FL, 33134

IPANEMA APARTMENTS(SUBJECT)

328 NW 12th Ave

628 SW 16th Ave

1145 SW 6th St

624 SW 1st St

450 SW 3rd St

218 NW 12th Ave

1530 SW 2nd St

828 SW 2nd St

134 SW 7th Ave

1375 SW 6th St

735 SW 2nd St

626 SW 4th St

833 SW 13th Ct

900 SW 7th St

637 SW 3rd Ct

102 SW 6th Ave

420 SW 12th Ave

1760 NW 7th St

4

7

8

9

11

20

12

14

15

16

17

13

18

10

4

7

8

9

11

12

14

15

16

17

13

18

10

1

2

3

5

6

RENT COMPARABLES MAP

20

IPANEMA APARTMENTS

(SUBJECT)

RENT COMPARABLES

21

IPANEMA APARTMENTS

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

LittleHavanaPortfolio

218 NW 12thAve

1530SW 2nd St

828SW 2nd St

134 SW 7thAve

1375SW 6th St

735SW 2nd St

626SW 4th St

833SW 13th Ct

900SW 7th St

637SW 3rd Ct

2 Bedroom

2/1 Avg. $1,5502/2 Avg. $1,617

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000


328 NW 12thAve

628 SW 16thAve

1145SW 6th St

624SW 1st St

450SW 3rd St

1 Bedroom

Avg. $1,360

$0

$300

$600

$900

$1,200

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000


102 SW 6thAve

420 SW 12thAve

1760NW 7th St

3 Bedroom

Avg. $2,080

AVERAGE RENT - MULTIFAMILY

RENT COMPARABLES

22

IPANEMA APARTMENTS

YEAR BUILT: 2010

rentpropertyname1rentpropertyaddress1

Unit Type Units SF Rent Rent/SF

1 Bdr 1.5 Bath 21 730 $1,250-$1-400 $1.84

2 Bdr 2 Bath 42 846 $1,300 - $1,600 $1.82

Total/Avg. 63 807 $1.83

IPANEMA APARTMENTS120 8th Avenue, Miami, FL

YEAR BUILT: 2008

1


1 Bdr 1 Bath 1 650-650 $1,250-$1,250 $1.92

Total/Avg. 1 650 $1,250 $1.92

328 NW 12TH AVE328 NW 12th Ave, Miami, FL, 33128

2

YEAR BUILT: 1926


1 Bdr 1 Bath 1 650-650 $1,400-$1,400 $2.15

Total/Avg. 1 650 $1,400 $2.15

628 SW 16TH AVE628 SW 16th Ave, Miami, FL, 33135

RENT COMPARABLES

23

IPANEMA APARTMENTS

YEAR BUILT: 2007

3


1 Bdr 1 Bath 1 621-621 $1,300-$1,300 $2.09

Total/Avg. 1 621 $1,300 $2.09

1145 SW 6TH ST 1145 SW 6th St, Miami, FL, 33130

YEAR BUILT: 2009

4


1 Bdr 1 Bath 1 605-605 $1,400-$1,400 $2.31

Total/Avg. 1 605 $1,400 $2.31

624 SW 1ST ST 624 SW 1st St, Miami, FL, 33130

5

YEAR BUILT: 1973


1 Bdr 1 Bath 1 663-663 $1,450-$1,450 $2.19

Total/Avg. 1 663 $1,450 $2.19

450 SW 3RD ST 450 SW 3rd St, Miami, FL, 33130

RENT COMPARABLES

24

IPANEMA APARTMENTS

YEAR BUILT: 2007

6


2 Bdr 1 Bath 1 720-720 $1,600-$1,600 $2.22

Total/Avg. 1 720 $1,600 $2.22

218 NW 12TH AVE 218 NW 12th Ave, Miami, FL, 33128

YEAR BUILT: 1973

7


2 Bdr 1 Bath 1 692-692 $1,500-$1,500 $2.17

Total/Avg. 1 692 $1,500 $2.17

1530 SW 2ND ST 1530 SW 2nd St, Miami, FL, 33135

8

YEAR BUILT: 1966


2 Bdr 1 Bath 1 682-682 $1,500-$1,500 $2.20

Total/Avg. 1 682 $1,500 $2.20

828 SW 2ND ST 828 SW 2nd St, Miami, FL, 33130

RENT COMPARABLES

25

IPANEMA APARTMENTS

YEAR BUILT: 2005

9


2 Bdr 1 Bath 1 700-700 $1,550-$1,550 $2.21

Total/Avg. 1 700 $1,550 $2.21

134 SW 7TH AVE 134 SW 7th Ave, Miami, FL, 33130

YEAR BUILT: 2018

10


2 Bdr 1 Bath 1 775-775 $1,600-$1,600 $2.06

Total/Avg. 1 775 $1,600 $2.06


11

YEAR BUILT: 2009


2 Bdr 2 Bath 1 687-687 $1,550-$1,550 $2.26

Total/Avg. 1 687 $1,550 $2.26

735 SW 2ND ST735 SW 2nd St, Miami, FL, 33130

RENT COMPARABLES

26

IPANEMA APARTMENTS

YEAR BUILT: 2014

12


2 Bdr 2 Bath 1 910-910 $1,575-$1,575 $1.73

Total/Avg. 1 910 $1,575 $1.73

626 SW 4TH ST626 SW 4th St, Miami, FL, 33130

YEAR BUILT: 2015

13


2 Bdr 2 Bath 1 800-800 $1,660-$1,660 $2.08

Total/Avg. 1 800 $1,660 $2.08

833 SW 13TH CT 833 SW 13th Ct, Miami, FL, 33135

14

YEAR BUILT: 2016


2 Bdr 2 Bath 1 978-978 $1,650-$1,650 $1.69

Total/Avg. 1 978 $1,650 $1.69


RENT COMPARABLES

27

IPANEMA APARTMENTS

YEAR BUILT: 2003

15


2 Bdr 2 Bath 1 731-731 $1,650-$1,650 $2.26

Total/Avg. 1 731 $1,650 $2.26

637 SW 3RD CT 637 SW 3rd St, Miami, FL, 33130

YEAR BUILT: 2005

16


3 Bdr 2 Bath 1 1,004-1,004 $2,000-$2,000 $1.99

Total/Avg. 1 1,004 $2,000 $1.99

102 SW 6TH AVE102 SW 6th Ave, Miami, FL, 33130

RENT COMPARABLES

28

IPANEMA APARTMENTS

17

YEAR BUILT: 2010


3 Bdr 2 Bath 1 1,103-1,103 $1,880-$1,880 $1.70

Total/Avg. 1 1,103 $1,880 $1.70

420 SW 12TH AVE 420 SW 12th Ave, Miami, FL, 33130

YEAR BUILT: 2011

18


3 Bdr 2 Bath 1 1,400-1,400 $2,300-$2,300 $1.64

Total/Avg. 1 1,400 $2,300 $1.64

1760 NW 7TH ST 1760 NW 7th St, Miami, FL, 33125

MARKETING TEAM

AGENT BIO

30

Awarded Emerging leaders at NMHC in Boca Raton (2013)Investment CRE sales of $967,000,000 volume sides (2005-Current)Transaction volume: 247 Trades // 87 Miami BeachNational Achievement Award @ M&M (2012-2019 )Top Multi Family Agent Miami M&M between (2009-2019)Developed team infrastructure and mentored 24 agents throughout careerInstituted technology platform to increase efficiency for team architecture

BioEducation

www.porosoff.comSaddleback CollegeUniversity Of Southern California Entrepreneurship / Economics

Created, developed and sold a California Based Fine Arttechnology firm to web giant AltaVista.com (2001)Purchased , operate and grew 46M CRE family officeportfolio in South Florida comprising of over 200uMultifamily / Retail / Hospitality (Current)

Awards

CRE Advisor Multifamily Hospitality DevelopmentNMHC PAC ContributorTel: (305) 733 - [email protected] www.porosoff.comLicense: FL SL3160379

316+MULTIFAMILY/ DEVELOPMENT/

HOSPITALITY/ RETAIL / NNN TRANSACTIONS CLOSED

Professional Affiliations

PersonalMarried to Elizabeth Dionesia /Father of Milana Jolie (3) & Chloe Angelique (13)

English / Spanish / Comprehension Portuguese / Italian

Porosoff + Partners Vision Statement

"We are committed to bring the highest level of advisory and strategy to investors of all calibers. Ensuring the preservation of wealth and

capital for generations."

ARTHUR D. POROSOFF

MULTIFAMILYHOSPITALITYSPECIALISTS

National Multi Housing Council NMHCPolitical Action Committee (PAC) NMHC Contributor Washington DCOrganized (BID) business improvement district in Little HavanaActively involved in development of (JCC) Jewish Community Center in Brickell for Beth David Synagogue

http://www.porosoff.com/


http://www.porosoff.com/

MARKET OVERVIEW

DEMOGRAPHICS

Source: © 2018 Experian

32

POPULATION 1 Miles 3 Miles 5 Miles 2023 Projection

Total Population 20,057 99,676 298,316

2018 Estimate


2010 Census


2000 Census


Daytime Population

2018 Estimate 14,428 85,244 294,586

HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2023 Projection

Total Households 9,207 46,926 127,274

2018 Estimate


Average (Mean) Household Size 2.17 2.13 2.34

2010 Census


2000 Census


Growth 2015-2020 6.71% 4.42% 4.40%

HOUSING UNITS 1 Miles 3 Miles 5 Miles Occupied Units

2023 Projection 9,207 46,926 127,274

2018 Estimate 9,869 59,522 147,419

Owner Occupied 3,083 21,003 49,547

Renter Occupied 5,545 23,935 72,360

Vacant 1,241 14,584 25,512

Persons In Units

2018 Estimate Total Occupied Units 8,628 44,938 121,907

1 Person Units 35.94% 38.33% 37.10%

2 Person Units 33.41% 33.48% 29.90%

3 Person Units 15.55% 13.70% 13.91%

4 Person Units 9.67% 8.93% 9.46%

5 Person Units 3.91% 3.69% 5.04%

6+ Person Units 1.51% 1.86% 4.59%

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2018 Estimate

$200,000 or More 5.98% 10.07% 6.52%

$150,000 - $199,000 3.82% 5.32% 4.01%

$100,000 - $149,000 8.07% 10.34% 8.86%

$75,000 - $99,999 10.56% 9.85% 9.25%

$50,000 - $74,999 14.25% 14.61% 14.66%

$35,000 - $49,999 14.78% 12.47% 13.47%

$25,000 - $34,999 11.32% 10.23% 11.00%

$15,000 - $24,999 14.41% 12.40% 13.43%

Under $15,000 16.82% 14.71% 18.80%

Average Household Income $72,012 $94,192 $75,623

Median Household Income $42,026 $50,258 $42,075

Per Capita Income $32,571 $43,879 $31,781

POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population By Age

2018 Estimate Total Population 19,094 96,549 292,587

Under 20 18.17% 18.45% 20.48%

20 to 34 Years 20.76% 18.12% 22.77%

35 to 39 Years 8.87% 7.79% 7.54%

40 to 49 Years 17.17% 15.83% 14.27%

50 to 64 Years 21.06% 21.43% 20.08%

Age 65+ 13.98% 18.39% 14.85%

Median Age 41.23 43.49 39.46

Population 25+ by Education Level

2018 Estimate Population Age 25+ 14,688 74,597 214,462

Elementary (0-8) 6.36% 4.84% 7.50%

Some High School (9-11) 5.96% 5.89% 9.10%

High School Graduate (12) 24.10% 21.24% 24.40%

Some College (13-15) 17.26% 17.00% 17.19%

Associate Degree Only 10.41% 8.55% 8.21%

Bachelors Degree Only 20.06% 23.48% 18.53%

Graduate Degree 13.89% 17.72% 12.85%

Population by Gender

2018 Estimate Total Population 19,094 96,549 292,587

Male Population 49.67% 49.14% 49.85%

Female Population 50.33% 50.86% 50.15%


Arthur D. Porosoff



Documents

IPANEMA APARTMENTS OFFERING MEMORANDUM|120 8TH … · IPANEMA APARTMENTS. CRE Advisor Multifamily Hospitality Development. NMHC PAC Contributor Tel: (305) 733 -6066. 1200 Brickell