STOVER AVENUE 4PLEX€¦ · FINANCIAL ANALYSIS // SECTION 3. Confidential Offering Memorandum FINANCIAL ANALYSIS // 12 INVESTMENT OVERVIEW STOVER AVENUE 4PLEX Price $275,000 Price

3CRE Advisors7815 Cooper Rd #C, Cincinnati, OH 45242513.490.6881 | 3cre.com

Presented By:

TRYFON [email protected]

MICHAEL [email protected]

6118 STOVER AVENUE, CINCINNATI, OH 45237

STOVER AVENUE 4PLEX// MULTIFAMILY PROPERTY FOR SALE

Confidential Offering Memorandum // 2

PROPERTY INFORMATION 3

LOCATION INFORMATION 6

FINANCIAL ANALYSIS 11

DEMOGRAPHICS 15

ADVISOR BIOS 18

CONFIDENTIALITY & DISCLAIMER CONTENTSAll materials and information received or derived from 3CRE Advisors its directors,officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty as to completeness , veracity, or accuracy, condition of theproperty, compliance or lack of compliance with applicable governmental requirements,developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.

Neither 3CRE Advisors its directors, officers, agents, advisors, or affiliates makes anyrepresentation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information fromany source, whether written or verbal, that may be furnished for review are not asubstitute for a party’s active conduct of its own due diligence to determine these andother matters of significance to such party. 3CRE Advisors will not investigate or verifyany such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUEDILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verifyall information and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financialdata should be verified by the party including by obtaining and reading applicabledocuments and reports and consulting appropriate independent professionals. 3CREAdvisors makes no warranties and/or representations regarding the veracity,completeness, or relevance of any financial data or assumptions. 3CRE Advisors doesnot serve as a financial advisor to any party regarding any proposed transaction. All dataand assumptions regarding financial performance, including that used for financialmodeling purposes, may differ from actual data or performance. Any estimates of marketrents and/or projected rents that may be provided to a party do not necessarily mean thatrents can be established at or increased to that level. Parties must evaluate anyapplicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for theproperty.

Legal questions should be discussed by the party with an attorney. Tax questions shouldbe discussed by the party with a certified public accountant or tax attorney. Titlequestions should be discussed by the party with a title officer or attorney. Questionsregarding the condition of the property and whether the property complies with applicablegovernmental requirements should be discussed by the party with appropriate engineers,architects, contractors, other consultants and governmental agencies. All properties andservices are marketed by 3CRE Advisors in compliance with all applicable fair housingand equal opportunity laws.

// TABLE OF CONTENTS


Presented By:



STOVER AVENUE 4PLEX - 6118 STOVER AVENUE, CINCINNATI, OH 45237

PROPERTY INFORMATION// SECTION 1

Confidential Offering Memorandum PROPERTY INFORMATION // 4

OFFERING SUMMARY

Sale Price: $275,000

Number Of Units: 4

Cap Rate: 9.89%

NOI: $27,198

Lot Size: 0.28 Acres

Year Built: 1962

Building Size: 3,900

Zoning: 401 - Apartments

Market: Cincinnati

Submarket: Golf Manor

Price / SF: $70.51

The 3CRE team is proud to present the Stover Avenue Apartments. This property consists of four units with a rare combination ofthree and four bedroom apartments. The property is Section 8 approved. This property is 100% occupied and has shown a historyof high occupancy. The building was rehabbed in 2010 with upgrades being done to kitchens, flooring, bathrooms, and windows.Tenants pay heat and electric. There is coin laundry and storage units available in the common area. Off Street Parking is availablewith a carport for the tenants.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• 100% Occupied Turn Key Investment Property

• Consists of Two 3BR/1.5BA & Two 4BR/1.5BA

• Newly Rehabbed Windows, Kitchens, Bathrooms, Flooring

• Strong History of Occupancy

• Guaranteed Section 8 Income

• 9.89% Cap Rate | 19.08% COC | 5.59 GRM

// EXECUTIVE SUMMARY

Confidential Offering Memorandum PROPERTY INFORMATION // 5

The 3CRE team is proud to present the Stover Avenue Apartments. This property consists of four units with a rarecombination of three and four bedroom apartments. The property is Section 8 approved. This property is 100%occupied and has shown a history of high occupancy. The building was rehabbed in 2010 with upgrades beingdone to kitchens, flooring, bathrooms, and windows. Tenants pay heat and electric. There is coin laundry andstorage units available in the common area. Off Street Parking is available with a carport for the tenants.

PROPERTY OVERVIEW

This property is located in the Cincinnati sub-market of Golf Manor. Golf Manor is near Pleasant Ridge and I-75 isonly 5 minutes from the property with good access to I-275, I-71 and Ronald Reagan Highway. Driving time todowntown is 20 minutes. The area has a good mix of residential homes and multi-family apartment properties.The property sits on a quiet street and is just around the corner from Langdon Farm Road.

LOCATION OVERVIEW

// PROPERTY DESCRIPTION


Presented By:




LOCATION INFORMATION// SECTION 2

Confidential Offering Memorandum LOCATION INFORMATION // 7

Stover Avenue 4Plex

// REGIONAL MAP


// LOCATION MAPS


Stover Avenue 4Plex

// AERIAL MAP

// ADDITIONAL PHOTOS



Presented By:




FINANCIAL ANALYSIS// SECTION 3

Confidential Offering Memorandum FINANCIAL ANALYSIS // 12

INVESTMENT OVERVIEW STOVER AVENUE 4PLEX

Price $275,000Price per Unit $68,750GRM 5.6CAP Rate 9.9%Cash-on-Cash Return (yr 1) 19.08 %Total Return (yr 1) $17,440Debt Coverage Ratio 1.63

OPERATING DATA STOVER AVENUE 4PLEX

Gross Scheduled Income $49,208Gross Income $49,208Operating Expenses $22,010Net Operating Income $27,198Pre-Tax Cash Flow $10,496

FINANCING DATA STOVER AVENUE 4PLEX

Down Payment $55,000Loan Amount $220,000Debt Service $16,702Debt Service Monthly $1,391Principal Reduction (yr 1) $6,944

// FINANCIAL SUMMARY


INCOME SUMMARY STOVER AVENUE 4PLEX PER SF

Gross Potential Rents $51,324 $13.16Vacancy (5%) -$2,566 -$0.66Laundry Income $450 $0.12

Gross Income $49,208 $12.62

EXPENSE SUMMARY STOVER AVENUE 4PLEX PER SF

Maintenance | Cleaning $4,037 $1.04Repairs $1,813 $0.46Property Taxes $6,018 $1.54Misc | Supplies $978 $0.25Gas | Electric $1,524 $0.39Water $7,640 $1.96

Gross Expenses $22,010 $5.64

Net Operating Income $27,198 $6.97

// INCOME & EXPENSES


UNITNUMBER

UNITBED

UNITBATH

CURRENTRENT

1 4 1.5 $1,179

2 4 1.5 $1,200

3 1.5 $949

3 1.5 $949

Totals/Averages $4,277

// RENT ROLL


Presented By:




DEMOGRAPHICS// SECTION 4

Confidential Offering Memorandum DEMOGRAPHICS // 16

1 MILE 2 MILES 3 MILES

Total population 15,203 50,869 112,344

Median age 37.9 37.4 35.8

Median age (Male) 36.4 35.9 34.4

Median age (Female) 40.2 39.3 37.4

Total households 6,576 21,766 48,713

Total persons per HH 2.3 2.3 2.3

Average HH income $51,466 $52,440 $56,190

Average house value $148,154 $202,063 $185,522

Total Population - White 6,410 26,827 69,250

% White 42.2% 52.7% 61.6%

Total Population - Black 8,212 22,154 38,770

% Black 54.0% 43.6% 34.5%

Total Population - Asian 70 282 1,309

% Asian 0.5% 0.6% 1.2%

Total Population - Hawaiian 31 47 99

% Hawaiian 0.2% 0.1% 0.1%

Total Population - American Indian 57 132 165

% American Indian 0.4% 0.3% 0.1%

Total Population - Other 101 476 626

% Other 0.7% 0.9% 0.6%

Total Population - Hispanic 229 1,610 3,211

% Hispanic 1.5% 3.2% 2.9%

* Demographic data derived from 2010 US Census

// DEMOGRAPHICS REPORT

Confidential Offering Memorandum DEMOGRAPHICS // 17

POPULATION 1 MILE 2 MILES 3 MILES

Total population 15,203 50,869 112,344

Median age 37.9 37.4 35.8

Median age (Male) 36.4 35.9 34.4

Median age (Female) 40.2 39.3 37.4

HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES

Total households 6,576 21,766 48,713

# of persons per HH 2.3 2.3 2.3

Average HH income $51,466 $52,440 $56,190

Average house value $148,154 $202,063 $185,522

* Demographic data derived from 2010 US Census

// DEMOGRAPHICS MAP


Presented By:




ADVISOR BIOS// SECTION 5

Confidential Offering Memorandum ADVISOR BIOS // 19

7815 Cooper Rd #CCincinnati, OH 45242T [email protected]

PROFESSIONAL BACKGROUND

Tryfon Christoforou is an experienced commercial broker specializing in multifamily real estate and is a partner of 3CREAdvisors. He brings broad experience in commercial real estate to his work – in addition to multifamily properties, hisbackground includes mortgages, investment, and ownership of investment property.

By leveraging his diverse work experience in real estate to bring every client the best return possible, Tryfon has establishedhimself as a top performer.

Tryfon has built a reputation as a service-oriented broker who is committed to personally guiding his clients through every phaseof the real estate transaction process from start to finish. He has built long-term relationships with clients based oncollaboration, hard work, an ethical approach, and dedication to a step-by- step method to working with every investor tomaximize results.

Tryfon Co-founded 3CRE Advisors with partner Michael Costantini to bring clients a tailored, knowledgeable approach toforming and successfully executing their commercial real estate investment strategy.

3CRE have extensive experience in local and regional Midwest markets and has an advantage in locating investment options onbehalf of its clients as well as being able to list their properties on a national basis to the entire 100,000-strong brokerage andinvestment community via real-time syndication to major listing sites, social media, and email campaigns.

Tryfon holds a BSBA, Marketing from University of Cincinnati, Ohio. His affiliations include the National Apartment Association,NAR, OAR, and the Cincinnati and Dayton Board of Realtors. He was born in Melbourne, Australia and is of Greek heritage. He isa passionate world traveler and calls Cincinnati his home.

TRYFON CHRISTOFOROU

// ADVISOR BIO & CONTACT 1

Confidential Offering Memorandum ADVISOR BIOS // 20

7815 Cooper Rd #CCincinnati, OH 45242T [email protected]

PROFESSIONAL BACKGROUND

Michael Costantini is an experienced commercial broker specializing in commercial real estate and is a partner in 3CREAdvisors. With over 20 years experience and a track record of producing optimal results, Michael has the knowledge, expertiseand negotiating skills to get the results his clients desire.

A thorough and results-driven broker, Michael is always attuned to the pulse of the market, using his experience to help clientsnavigate current market conditions and anticipate future ones. When working with Michael, clients have a proven professionalthat can deliver results and optimize their commercial real estate investments.

Michael founded 3CRE Advisors with partner Tryfon Christoforou to bring clients a tailored, knowledgeable approach to formingand successfully executing their commercial real estate investment strategy. The 3CRE team has completed over a billiondollars of real estate transactions, and their list of retail clients include Scene 75 Entertainment, Walgreens, CVS, Dollar and toname a few. 3CRE also has in-depth expertise in disposition and acquisition of retail assets ranging from 10,000 SF to 384,000SF.

3CRE has extensive experience in local and regional Midwest markets and has an advantage in locating investment options onbehalf of its clients as well as being able to list their properties on a national basis to the entire 100,000-strong brokerage andinvestment community via real-time syndication to major listing websites, social media platforms, and email campaigns.

Michael holds a bachelor’s degree and a master’s degree in business administration from Xavier University. His industryaffiliations include the International Council of Shopping Centers (ICSC); the National Association of Realtors (NAR); the OhioAssociation of Realtors (OAR); and the Cincinnati and Dayton Board of Realtors.

MICHAEL COSTANTINI

// ADVISOR BIO & CONTACT 2

Documents

STOVER AVENUE 4PLEX€¦ · FINANCIAL ANALYSIS // SECTION 3. Confidential Offering Memorandum FINANCIAL ANALYSIS // 12 INVESTMENT OVERVIEW STOVER AVENUE 4PLEX Price $275,000 Price