Offering Memorandum - LoopNet...Totals/Averages 12 Rooms 3 Houses 4,229 $605 $7,255 $1.72 $87,060 Unit Mix & Rental Rates‐June 2018‐May 2019 Monthly Annual Address Room # Type

Offering

Memorandum

Justin LannéManaging Director+1 520 907 [email protected]

Las Haciendas Rental Homes Luxury Student Housing NEC Helen St & Wilson Ave | Tucson, Arizona

Mike ChapmanSenior Vice President+1 520 591 [email protected]

Las Haciendas Rental HomesLocation Map

SUBJECT

Las Haciendas Rental HomesArea Map

Arizona Inn

Pharmacy Museum

Himmel Park

E Speedway BlvdN

Tucson Blvd

N C

ampbell A

ve

Hillenbrand Stadium

Arizona State Museum

N C

ountry Club R

d

SUBJECT

Las Haciendas Rental HomesSite Plan

N W

ilson

Ave

E Helen St

SUBJECT

Executive Summary

Mike ChapmanSenior Vice President+1 520 591 [email protected]

DisclaimerInformation included or referred to herein is furnished by third parties and is not guaranteed as to its accuracy or completeness. You understand that all information included or referred to herein is confidential and furnished solely for the purpose of your review in connection with the potential purchase of Subject Property, Independent estimates of proforma income and expenses should be developed by you before any decision is made on whether to make any purchase. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outline some of the provisions contained therin and are qualified in their entirety by the actual documents to which they relate. NAI Horizon, the asset owner(s), their services, representatives and/or brokers, and their respective agents, representations, affiliates and employees, (i) make no representations or warranties of any kind, express or implied, as to any information or projections related to the subject asset(s), and hereby disclaim any and all such warranties or representations, and (ii) shall have no liability whatsoever arising from any errors, omissions or discrepancies in the information. Any solicitation for offers to purchase the subject asset is subject to prior placement and withdrawal, cancellation or modification without notice.

About Las Haciendas Location

The Las Haciendas Rental Homes are in the historic Blenman-Elm Neighborhood in central Tucson.• 5 blocks east of the University of Arizona!

• 5 blocks east of the Banner University Medical Center!

• 4 blocks south of the historic Arizona Inn!

• 3 blocks north of Himmel Park!

History

The property consists of three masonry houses that were built in early 1970s and purchased by the current owner in 2006. The homes were completely gutted and renovated in 2008. Each has 4 bedrooms, 4 bathrooms (1216 N Wilson has 4.5 bathrooms), living room, modern kitchens with high-end appliances, and laundry facilities. 1216 N Wilson has walk-in closets. Each bedroom has access to hacienda style covered patios. Each room has Saltillo tile and ceiling fans.

Each home has a walled yard and there is an on-site lighted parking lot that will accommodate approximately 10 cars. The Las Haciendas Rental Homes have been 100% occupied from their inception.

Justin LannéManaging Director+1 520 907 [email protected]

Las Haciendas Rental Homes

Exterior Photos Las Haciendas Rental Homes

Las Haciendas Rental Homes Interior Photos Las Haciendas

Rental Homes

Interior Photos Las Haciendas Rental Homes

Las Haciendas Rental Homes Property Information


Address 1200 N. Wilson Ave. 2305 E. Helen St.Tucson, AZ 85719 Tucson, AZ 85719

Owner Wilt, Jonathan D. & Kristen R. JT/RSWilt, Jonathan D. & Kristen R. JT/RS

Stories 1 1Construction Masonry & Stucco BlockBuilding Size 1,199 Sq. Ft. 1,224 Sq. Ft.# Bedrooms 4 Bedrooms 4 Bedrooms# Bathrooms 4 Baths

1216 N. Wilson Ave. Tucson, AZ 85719Wilt, Jonathan D. & Kristen R. JT/RS1Block1,806 Sq. Ft.4 Bedrooms4.5 Baths 4 Baths

Year Built/Renovation 1970- Complete Renovation 2008 1974-Comple Renovation 2008 1972-Complete Renovation 2008Parking Spaces On Site Lot-10 Spaces & Curb-SideElectric Meters Individual Individual IndividualHot Water Individual Gas Individual Gas Individual GasPima County Assessor's Parcel # 123-07-1700 123-07-169A 123-07-1710Real Estate Taxes (2017) $2,441.32 $3,456.79 $2,649.28Parcel Size 4,200 Sq. Ft. 8,919 Sq. Ft. 4,767 Sq. Ft.Zoning R-1 R-1 R-1Flood Status None-Zone X None-Zone X None-Zone XUtilities:

Police/Fire Protection/Sanitation City of TucsonTelephone Century Link CommunicationsElectric Tucson Electric PowerGas Southwest GasWater Tucson WaterSewer Pima County Department of Wastewater Management

Community Amenities4 Bedroom-4 Bath Units (1216 N Wilson has 4.5 bathrooms)Masonry ConstructionOn-site Parking:-4 spaces for 1216 N Wilson Ave-7 spaces for 1200 N Wilson Ave & 2305 E Helen-Additional curb side parkingWalled Yards"Hacienda Style" Front & Rear Covered PatiosBedrooms Have Access to Covered PatiosAlarm Systems & Motion Sensor LightingLighted Parking LotUpgraded Electrical, Water & Waste Lines

Unit AmenitiesAir Conditioning with HEPA Filter & Gas Heat Ceiling Fans in Bedrooms, Living Room & KitchenWalk-in closets in 1216 N Wilson AveStacked Washer & Dryer in Each HouseSaltillo Tile ThroughoutTiled Tub Surrounds in BathroomsAlder Kitchen CabinetsGranite CountersDishwashersDisposalsBuilt-in MicrowavesGas RangesRefrigerators with Ice MakersWine Refrigerator -1216 N Wilson Ave.Ceiling Fans on Porch-1216 N. Wilson Ave.


Unit Mix & Rental Rates‐March 2018 Monthly AnnualAddress Room # Type Sq. Ft. Rent/Room Rent Rent/Sq. Ft. Rent

1200 N. Wilson Avenue 4 Br‐4ba House 1,199 $2,300 $1.92 $27,600Room 1 $575Room 2 $575Room 3 $575Room 4 $575


2305 E. Helen Street 4 Br‐4ba House 1,224 $2,300 $1.88 $27,600Room 1 $575Room 2 $575Room 3 $575Room 4 $575

Totals/Averages 12 Rooms 3 Houses 4,229 $605 $7,255 $1.72 $87,060

Unit Mix & Rental Rates‐June 2018‐May 2019 Monthly AnnualAddress Room # Type Sq. Ft. Rent/Room Rent Rent/Sq. Ft. Rent



2305 E. Helen Street 4 Br‐4ba House 1,224 $2,575 $2.10 $30,900Room 1 $625Room 2 $650Room 3 $650Room 4 $650

Totals/Averages 12 Rooms 3 Houses 4,229 $640 $7,675 $1.81 $92,100

Unit Mix & Rental Rates



Trailing 12 Months Income & Expenses‐March 2018

Trailing 12‐Mos. NAI Mar‐18 Pro Forma NOTES

INCOME1200 N. Wilson Ave. $27,525 $30,000 Rental Rates as of June 1, 20181216 N. Wilson Ave. $32,278 $31,200 Rental Rates as of June 1, 20182305 E. Helen St. $27,600 $30,900 Rental Rates as of June 1, 2018

Total Rental Income $87,403 $92,100Less Vacancy $0 ($2,763) ‐3.0% 100% Occupancy w/1 Week Turn

Net Rental Income $87,403 $89,337Pet Fees $845 $845 T 12‐Months‐March 2018Repairs Fees $159 $159 T 12‐Months‐March 2018Late Fees $115 $115 T 12‐Months‐March 2018

Total Income $88,522 $90,456

EXPENSES $/unit/yr. $/room/yr. $/unit/yr. $/room/yr.Real Estate Taxes‐1200 N. Wilson ($2,441) ($814) ($203) ($2,441) ($814) ($203) 2017 Real Estate TaxesReal Estate Taxes‐1216 N. Wilson ($3,457) ($1,152) ($288) ($3,457) ($1,152) ($288) 2017 Real Estate TaxesReal Estate Taxes‐2305 E. Helen ($2,649) ($883) ($221) ($2,649) ($883) ($221) 2017 Real Estate TaxesInsurance ($2,610) ($870) ($218) ($2,610) ($870) ($218)Property Management $0 $0 $0 ($7,147) ($2,382) ($596) 8% of Rental IncomeRepairs & Maintenance

Appliances ($214) ($71) ($18) ($214) ($71) ($18) T 12‐Months‐March 2018Bath Hardware ($31) ($10) ($3) ($31) ($10) ($3) T 12‐Months‐March 2018Data/Alarm/Stereo ($50) ($17) ($4) ($50) ($17) ($4) T 12‐Months‐March 2018Door Hardware ($385) ($128) ($32) ($385) ($128) ($32) T 12‐Months‐March 2018Doors ($97) ($32) ($8) ($97) ($32) ($8) T 12‐Months‐March 2018Electric ($182) ($61) ($15) ($182) ($61) ($15) T 12‐Months‐March 2018Landscape ($83) ($28) ($7) ($83) ($28) ($7) T 12‐Months‐March 2018Mechanical ($16) ($5) ($1) ($16) ($5) ($1) T 12‐Months‐March 2018Painting ($774) ($258) ($65) ($774) ($258) ($65) T 12‐Months‐March 2018Permits ($73) ($24) ($6) ($73) ($24) ($6) T 12‐Months‐March 2018Plumbing ($65) ($22) ($5) ($65) ($22) ($5) T 12‐Months‐March 2018Roofing ($1,436) ($479) ($120) ($1,436) ($479) ($120) T 12‐Months‐March 2018

Electricity ($225) ($75) ($19) ($225) ($75) ($19) T 12‐Months‐March 2018Water & Sewer ($95) ($32) ($8) ($95) ($32) ($8) T 12‐Months‐March 2018Dumpster/Refuse $0 $0 $0 $0 $0 $0 T 12‐Months‐March 2018

Totals ($14,883) ($4,961) ($1,240) ($22,030) ($7,343) ($1,836)

Net Operating Income $73,639 $24,546 $6,137 $68,426 $22,809 $5,702

Pro Forma

Las Haciendas Rental HomesSales Price

Sales Price $1,325,000

$/House $441,166

$/SF $319.00

Cap Rate 5.20%



2017 Expenses1200 N. Wilson 2016 N. Wilson 2305 E Helen Total

Real Estate Taxes $2,441 $3,457 $2,649 $8,547Insurance $897 $1,130 $583 $2,610Repairs & Maintenance

Appliances $192 $3 $195Electric $32 $32Mechanical $16 $16Other $1,145 $587 $181 $1,913

Electricity $294 $73 $367Water & Sewer $95 $95Dumpster/Refuse $83 $83Painting $170 $170Plumbing $65 $65Roofing $122 $122Totals $5,409 $5,358 $3,448 $14,215

Trailing 12‐Months‐March 20181200 N. Wilson 2016 N. Wilson 2305 E Helen Total

Real Estate Taxes $2,441 $3,457 $2,649 $8,547Insurance $897 $1,130 $583 $2,610Repairs & Maintenance

Appliances $192 $0 $22 $214Bath Hardware $0 $31 $0 $31Data/Alarm/Stereo $2 $0 $48 $50Door Hardware $313 $13 $59 $385Doors $97 $0 $0 $97Electric $150 $0 $32 $182Landscape $83 $0 $0 $83Mechanical $0 $16 $0 $16Painting $328 $209 $237 $774Permits $73 $0 $0 $73Plumbing $65 $0 $0 $65Roofing $387 $525 $524 $1,436Other $0 $0 $0 $0

Electricity $152 $73 $0 $225Water & Sewer $0 $95 $0 $95Dumpster/Refuse $0 $0 $0 $0

$5,180 $5,549 $4,154 $14,883Totals

Expense Summary

Sale CompsLas Haciendas Rental Homes

Casa Belleza Townhomes

Water Street Homes

PROPERTY ADDRESS

1200 N Wilson AveTucson, AZ 85719

3168-3178 E 4th StTucson, AZ 85716

1409-1429 E Drachman StTucson, AZ 85719

638-642 E Lester StTucson, AZ 85719

2550 E Water StTucson, AZ 85716

50 N MountainTucson, AZ 85719

SIZE

3 houses12 bedrooms12 bathrooms

6 units18 bedrooms18 bathrooms



9 homes45 bedrooms9 bathrooms

4 units32 bedrooms12 full bathrooms4 half bathrooms

YEAR BUILT 1971; Renov. 2008 2011 1952 2008 N/A 2015

SALES PRICE

$1,325,000($441,667/unit)($110,417/bedroom)

$1,225,000($204,167/unit)($68,055/bedroom)

$1,250,000($178,571/unit)($73,529/bedroom)

$1,400,000($233,333/unit)($66,667/bedroom)

$3,300,000($366,667/unit)($73,333/bedroom)

$2,850,000($712,500/unit)($89,062/bedroom)

CAP RATE 5.10% 6.70% 5.50% 7.25% 6.73% 8.82%

CLOSE OF ESCROW TBD 1/26/2017 2/16/2017 5/22/2017 9/18/2017 3/05/2018


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Las Haciendas Rental HomesSale Comps Map

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2900 N Swan Road Suite 200Tucson, Arizona 85712+1 520 326 2200

naihorizon.com

Documents

Offering Memorandum - LoopNet...Totals/Averages 12 Rooms 3 Houses 4,229 $605 $7,255 $1.72 $87,060 Unit Mix & Rental Rates‐June 2018‐May 2019 Monthly Annual Address Room # Type