OFFERING MEMORANDUM - LoopNet · other consultants and governmental agencies. ... There has been no shortage of employment in industries spanning from hospitality (Gaylord of the

OFFERING MEMORANDUM

88-Unit Aurora

Portfolio

OFFERED BY:

MARC LIPPITT

Principal +1 303 321 5888

[email protected]

JUSTIN HERMAN

Senior Broker Associate +1 720 881 6344

[email protected]

PHILIP DANKNER

Director | Greystone UAG +1 303 931 0793

[email protected]

AurorA Portfolio GREYSTONE | UNIQUE APARTMENT GROUP

2

CONFIDENTIALITY & CONDITIONS

All materials and information received or derived from Greystone Unique Apartment Group its directors, officers, agents, advisors, affiliates and /or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither Greystone Unique Apartment Group its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. Greystone unique Apartment Group will not investigate or verify any such matters or conduct due diligence for a party unless otherwise 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 all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party.

All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Greystone Unique Apartment Group makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Greystone Unique Apartment Group does not service as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and /or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies.

All properties and services are marketed by Greystone Unique Apartment Group in compliance with all applicable fair housing and equal opportunity laws.

GREYSTONE UNIQUE APARTMENT GROUP

400 South Broadway

Denver, Co 80209

www.uniqueprop.com

INVESTMENT SALES CONTACTS

Marc Lippitt

Principal

+1 303 321 5888

[email protected]

Philip Dankner

Director

+1 303 931 0793

[email protected]

Justin Herman

Senior Broker Associate

+1 720 881 6344

[email protected]

AurorA PortfolioGREYSTONE | UNIQUE APARTMENT GROUP 3

Price: $10,620,000

Down Payment: $2,655,000 (25%)

Loan Amount: $7,965,000

Interest Rate | Amortization: 4.50% | 30 Years

Price / Unit: $120,682

Price / Sq Ft: $212.69

Current Analysis Proforma Analysis

Net Operating Income: $422,609 $604,155

Debt Service: $484,290 $484,290

Net Cash Flow After Debt Service: -$61,681 | -2.32% $119,865 | 4.51%

Principal Reduction: $128,494 $128,494

Total Return: $66,813 | 2.52% $181,959 | 6.85%

Cap Rate: 3.98% 5.69%

GRM: 11.94 10.59

THE OFFERINGGreystone Unique Apartment Group is pleased to present to qualified investors, the opportunity to purchase a 10 Property/88-Unit portfolio located in Aurora, Colorado.

THE OPPORTUNITYThe area has experienced tremendous growth with the additions of UCHealth Anschutz, Stanley Market Place, and the Lowry redevelopment featuring Wings Over the Rockies. There has been no shortage of employment in industries spanning from hospitality (Gaylord of the Rockies) to Aerospace (Denver International Airport) and Healthcare (UCHealth Anschutz). Aurora is quickly becoming an inclusive and sought after place to live in the metro area. This 88-Unit Portfolio presents investors with an amazing opportunity to acquire properties in one of the fastest growing areas with a significant value-add component.

INVESTMENT HIGHLIGHTS

- true Value Add Properties

- Opportunity to implement utility bill back system

- Opportunity to collect laundry revenue

- fantastic location

- Close proximity to Anschutz, Lowry, Stanley Marketplace and Stapleton

- Possible Re-development exit at certain locations


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PORTFOLIO PROPERTIES

ADDRESS UNIT

COUNT DESCRIPTION PRICE

1 1923 Dallas St. Aurora, CO 80010 8 2 Story 8 unit, All 1 beds $960,000

2 1933 Dallas St. Aurora, CO 80010 8 2 Story 8 unit, All 1 beds $960,000

3 1732 Paris St. Aurora, CO 80010 8 2 Story 8 unit, All 1 beds $960,000



6 11916 E 14th Ave. Aurora, CO 80010 8 2 Story 8 unit, All 1 beds $960,000

7 12000 E 14th Ave. Aurora, CO 80010 8 2 Story 8 unit, All 1 beds $960,000

8 1666 Clinton St. Aurora, CO 80010 12 3 Story, 12 units, six 1 beds, six 2 beds $1,500,000

9 1435 Kingston St. Aurora, CO 80010 8 2 Story ext. walkup 8 units, six 1s, one 2, one 3 $960,000

10 1474 Xenia St. Denver, CO 80220 12 2 Story ext. walkup 12 units, All 1 beds $1,440,000

totAl 88 $10,620,000

AurorA PortfolioGREYSTONE | UNIQUE APARTMENT GROUP

5

PORTFOLIO PROPERTIES


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PROPERTY SUMMARY 1

Address: 1923 Dallas Street | Aurora, CO 80010

County: Adams

Cross Sreets: Dallas St. & E 19th Ave.

Year Built: 1957

Buildings: one(1)

Stories: two (2)

Building SF: 3,978

Number of Units: 8

Land Area: 6,534 Sf

Proforma Net Operating Income: $53,675

PARKINGParking Type: Permit Surface and Street

Parking Spaces: 5 Permit Spaces

UTILITIESWater / Sewer: Master

Gas: Master

Electric: Master

Heating: Boiler

Cooling: tenant Provided Window units

UNIT MIX - 1923 DALLAS

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF

CURRENT MO. AVG RENT /

UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT

PROFORMA MONTHLY AVG RENT

1 Bed, 1 Bathroom 8 491 3,928 $800 $6,400 $1.63 $750 $850 $900

totAl 8 $76,800 All units--> $86,400


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PROPERTY SUMMARY 2

Address: 1933 Dallas Street | Aurora, CO 80010

County: Adams

Cross Sreets: Dallas St. & E 19th Ave.

Year Built: 1957

Buildings: one(1)

Stories: two (2)

Building SF: 3,978

Number of Units: 8

Land Area: 6,534 Sf





Gas: Master

Electric: Master

Heating: Boiler

Cooling: tenant Provided Window unitsUNIT MIX - 1933 DALLAS

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF


UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT


1 Bed, 1 Bathroom 8 491 3,928 $812.50 $6,500 $1.65 $750 $900 $900

totAl 8 $78,000 All units--> $86,400


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PROPERTY SUMMARY 3

Address: 1732 Paris Street | Aurora, CO 80010

County: Adams

Cross Sreets: Paris St. & E 17th Ave.

Year Built: 1960

Buildings: one(1)

Stories: two (2)

Building SF: 4,368

Number of Units: 8

Land Area: 6,969 Sf





Gas: Master

Electric: Master

Heating: Boiler

Cooling: tenant Provided Window unitsUNIT MIX - 1732 PARIS

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF


UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT


1 Bedroom, 1 Bathroom 8 535 4,280 $812.50 $6,500 $1.52 $600 $900 $950

totAl 8 $78,000 All units--> $91,200


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PROPERTY SUMMARY 4


County: Adams


Year Built: 1950

Buildings: one(1)

Stories: two (2)

Building SF: 4,368

Number of Units: 8

Land Area: 6,534 Sf





Gas: Master

Electric: Master

Heating: Boiler


UNIT MIX - 1733 PARIS

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF


UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT



totAl 8 $82,200 All units--> $91,200


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PROPERTY SUMMARY 5


County: Adams


Year Built: 1960

Buildings: one(1)

Stories: two (2)

Building SF: 4,368

Number of Units: 8

Land Area: 6,969 Sf





Gas: Master

Electric: Master

Heating: Boiler


UNIT MIX - 1734 PARIS

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF


UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT


1 Bedroom, 1 Bathroom 8 535 4,280 $850 $6,800 $1.59 $800 $900 $950

totAl 8 $81,600 All units--> $91,200


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PROPERTY SUMMARY 6Address: 11916 E 14th Ave. | Aurora, CO 80010

County: Adams

Cross Sreets: Oswego St. & E 14th Ave.

Year Built: 1960

Buildings: one (1)

Stories: two (2)

Building SF: 4,508

Number of Units: 8

Land Area: 6,490 Sf





Gas: Master

Electric: Master

Heating: Boiler

Cooling: tenant Provided Window unitsUNIT MIX - 11916 E 14TH

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF


UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT



totAl 8 $81,600 All units--> $91,200


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PROPERTY SUMMARY 7

Address: 12000 E 14th Ave. | Aurora, CO 80010

County: Adams

Cross Sreets: Oswego St. & E 14th Ave.

Year Built: 1960

Buildings: one(1)

Stories: two (2)

Building SF: 4,508

Number of Units: 8

Land Area: 7,840 Sf





Gas: Master

Electric: Master

Heating: Boiler

Cooling: tenant Provided Window unitsUNIT MIX - 12000 E 14TH

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF


UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT



totAl 8 $80,400 All units--> $91,200


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PROPERTY SUMMARY 8Address: 1666 Clinton Street | Aurora, CO 80010

County: Adams

Cross Sreets: Clinton St. & E 17th Ave.

Year Built: 1960

Buildings: one(1)

Stories: Three (3)

Building SF: 9,204

Number of Units: 12

Land Area: 9,500 Sf





Gas: Master

Electric: Master

Heating: Boiler

Cooling: tenant Provided Window unitsUNIT MIX - 1666 CLINTON

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF


UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT



2 Bedroom , 1 Bathroom 6 750 4,500 $966.67 $5,800 $1.29 $850 $1,000 $1,100

totAl 12 $912.50 $131,400 $1.42 All units--> $147,600


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PROPERTY SUMMARY 9

Address: 1435 Kingston Street | Aurora, CO 80010

County: Adams

Cross Sreets: Kingston St. & E 14th Ave.

Year Built: 1958

Buildings: one(1)

Stories: two (2)

Building SF: 5,712

Number of Units: 8

Land Area: 9,931 Sf





Gas: Master

Electric: Separate

Heating: Boiler

Cooling: tenant Provided Window unitsUNIT MIX

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF


UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT



2 Bedroom , 1 Bathroom 1 700 700 $900 $900 $1.29 $900 $900 $1,150

3 Bedroom, 1 Bathroom 1 1,300 1,300 $1,200 $1,200 $0.92 $1,200 $1,200 $1,250

totAl 8 5,600 $837.75 $83,880 $1.29 All units--> $97,200


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PROPERTY SUMMARY 10

Address: 1474 Xenia Street | Aurora, CO 80010

County: Denver

Cross Sreets: Xenia St. & Colfax Ave.

Year Built: 1962

Buildings: one(1)

Stories: two (2)

Building SF: 4,940

Number of Units: 12

Land Area: 6,250 Sf





Gas: Master

Electric: Separate

Heating: Boiler

Cooling: tenant Provided Window unitsUNIT MIX

DESCRIPTION UNIT

COUNT AVERAGE

SIZE TOTAL SF


UNIT

CURRENT MONTHLY

RENT

CURRENT AVG RENT

/ SF

CURRENT LOWEST

RENT

CURRENT HIGHEST

RENT


1 Bed, 1 Bathroom 12 411 4,932 $802.08 $9,625 $1.95 $650 $850 $900

totAl 12 $115,500 All units--> $129,600


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REGIONAL NEIGHBORHOOD


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NEIGHBORHOOD MAP

Peoria St

E Co

lfax

Ave

UCHEALTH UNIVERSITY OF COLORADO HOSPITAL

DOWNTOWN DENVER

STAPLETON

Nome Park

General’s Park

Spencer Garrett Park

A8

A3A4

A1

B3

B4

B2B1

C2

C3C4

C1A2

A5A6A7

A | FOOD & DRINK1. Little Caesar’s

2. Taco Bell

3. McDonald’s

4. Popeye’s

5. Guadalajara Authentic Mexican

6. Sonic Drive-In

7. Panda Express

8. Church’s Chicken

B | RETAIL1. Walmart

2. Walgreens

3. Lowe’s

4. Family Dollar

C | SERVICE1. 7-11

2. O’Reilley Auto Parts

1. 7-11


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CURRENT PER UNIT PROFORMA PER UNIT

INCOME: Scheduled Rent Income 889,152 1,003,200 Other Income - 73,200 Scheduled Gross Income 889,152 10,104 1,076,400 Vacancy Allowance (44,458) (505) (50,160) Effective Gross Income: 844,694 9,599 1,026,240 11,662 EXPENSES: Taxes, Property: real 70,395 70,395 800 70,395 70,395 800 Insurance: Property 37,817 37,817 430 37,817 37,817 430 Management: Off-Site 37,136 37,136 422 37,136 37,136 422 Utilities: Gas & Electric 54,325 54,325

Trash Collection 47,927 47,927 Water & Sewer 56,592 171,352 1,947 56,592 171,352 1,947 Repairs & Maintenance: Carpet/Floor Cleaning 3,590 3,590 Electrical 260 260 HVAC 1,055 1,055

Plumbing 588 588

Supplies: Maintenance 500 500

Annual Maintenance 7,515 7,515

Other Repairs and maintenance 91,877 105,385 1,198 91,877 105,385 1,198

Total Expenses 422,085 4,796 422,085 4,796

Net Operating Income 422,609 4,802 604,155 6,865

FINANCIAL ANALYSIS

*2019 Estimated Taxes based on most current valuation and mill levy**Insurance based off of most current policy covering more than subject property


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AURORA PORTFOLIO CONFIDENTIAL OFFERING MEMORANDUM

Philip DanknerDirector+1 303 931 [email protected]

Marc LippittPrinicpal+1 303 321 [email protected]

Justin HermanSenior Broker Associate+1 720 881 [email protected]

Documents

OFFERING MEMORANDUM - LoopNet · other consultants and governmental agencies. ... There has been no shortage of employment in industries spanning from hospitality (Gaylord of the