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Page 1: Stoddard Townhomes

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4501 SW Stoddard DriveBeaverton, OR 97007

Stoddard TownhomesTOWNHOME LIVING, 30 UNITS

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Stoddard TownhomesCONTENTS

Exclusively Marketed by:

Grayson Pounder Tyler GerdingPresident, Principal Broker Vice President, Broker503-680-4638 503-467-8901License # 200008193 License # [email protected] [email protected]

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions,change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.  We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of theproperty. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

6105 SW Macadam Ave, ste 200Portland, OR 97239

01 Executive Summary Investment Summary 4

02 Property Description Property Features 6 Aerial Map 7 Property Images 8

03 Sale Comps Sale Comparables Summary 12

04 Financial Analysis Income & Expense Analysis 17

05 Demographics Demographics 19 Demographic Charts 20

06 Additional Information Condo Conversion Sales Comps 23

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Executive Summary

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Stoddard Townhomes Investment Summary | 04

OFFERING SUMMARYADDRESS 4501 SW Stoddard Drive

Beaverton OR 97007

COUNTY Washington

MARKET Portland

SUBMARKET Aloha

BUILDING SF 37,650

LAND SF 127,258

NUMBER OF UNITS 30

YEAR BUILT 1977

FINANCIAL SUMMARYOFFERING PRICE $7,300,000

PRICE PSF $193.89

PRICE PER UNIT $243,333

OCCUPANCY 100.00 %

NOI (CURRENT) $405,551

NOI (Pro Forma) $432,260

CAP RATE (CURRENT) 5.56 %

CAP RATE (Pro Forma) 5.92 %

GRM (CURRENT) 12.94

GRM (Pro Forma) 11.54

PROPOSED FINANCINGLOAN TYPE Fully Amortized

DOWN PAYMENT $2,555,000

LOAN AMOUNT $4,745,000

INTEREST RATE 4.50 %

ANNUAL DEBT SERVICE $288,508

LOAN TO VALUE 65 %

AMORTIZATION PERIOD 30 Years

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2018 Population 13,980 127,096 300,849

2018 Median HH Income $74,800 $71,601 $71,950

2018 Average HH Income $80,926 $90,665 $91,149

Property Highlights:

-Numerous Exterior Updates

-New High Efficiency Vinyl Windows

-Mature Landscaping

-In Unit Full Size Washer & Dryer hookups

-Scenic Green Spaces and Playground

-Townhomes with Individual Patios

-Excellent Condo-Conversion Potential

*Listing Brokers are partial owners of properties.

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Property Description

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Aerial Map

Parcel Map

Additional Maps

Property Images

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Stoddard Townhomes Property Features | 06

Site DescriptionNUMBER OF UNITS 30

BUILDING SF 37,650

LAND SF 127,258

LAND ACRES 2.96

YEAR BUILT 1977

# OF PARCELS 3

ZONING TYPE R15, Washington

NUMBER OF STORIES 2

NUMBER OF BUILDINGS 15

WASHER/DRYER Hook Ups in Unit

FEES & DEPOSITSAPPLICATION FEE $55.00

SECURITY DEPOSIT $800.00

UTILITIESWATER Owner Paid, Bill back

TRASH Owner Paid, Bill Back

ELECTRIC Tenant Paid

RUBS Tenant Paid

CONSTRUCTIONFRAMING Wood

PARKING SURFACE Asphalt

ROOF Pitched, composition

STYLE Townhome/Duplex

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Stoddard Townhomes Aerial Map | 07

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Stoddard Townhomes Property Images | 08

Covered Carports for Each Unit Exterior Storage Closets

HOA Maintained Playground Plentiful Greenspace and MatureLandscaping

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Stoddard Townhomes Property Images | 09

Fenced Patio off Dining Area, AdditionalPatio off Living Room

Washer & Dryer Hook Ups In All Units

Vaulted Ceilings & Balconies in MostMaster Bedrooms

Mirrored Closet Door in Remodeled Units

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Stoddard Townhomes Property Images | 10

Large Dining Area & Two Pantry Closets Spacious Living Room with Patio

Walk in Style Closets in Masters Plentiful Closet Space in Bedrooms

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Sale Comps

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Stoddard Townhomes Sale Comparables Summary | 12

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Multifamily Comp3336 SW 90th AvenuePortland, OR 97225

TOTAL UNITS 5

YEAR BUILT 2000

SALE PRICE $1,255,000

PRICE/UNIT $251,000

PRICE/SF $115.56

CAP RATE 6.74 %

GRM 15.18

OCCUPANCY 100.00 %

CLOSING DATE 8/11/2018

DAYS ON MARKET 39

Cap Rate Range 5.24 % - 6.74 %

LOW HIGH

Price/Unit Range $179,125 - $309,091

LOW HIGH

Notes 3.2.5, 1500 SqFt, $1875 asking rent

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Multifamily Sales Comp4445 SW 188th AvenueAloha, OR 97007

TOTAL UNITS 8

YEAR BUILT 1974

SALE PRICE $1,433,000

PRICE/UNIT $179,125

PRICE/SF $179.13

CAP RATE 6.33 %

CLOSING DATE 12/17/2018

Cap Rate Range 5.24 % - 6.74 %

LOW HIGH

Price/Unit Range $179,125 - $309,091

LOW HIGH

Notes 2.1 & 2.1.5, 975 SqFt, $1295-$1325

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Stoddard Townhomes Sale Comparables Summary | 13

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Multifamily Sales Comp12590-12624 SW Butner RoadBeaverton, OR 97005

TOTAL UNITS 8

YEAR BUILT 1970

SALE PRICE $1,850,000

PRICE/UNIT $231,250

PRICE/SF $196.64

CAP RATE 5.96 %

CLOSING DATE 11/9/2017

DAYS ON MARKET 51

Cap Rate Range 5.24 % - 6.74 %

LOW HIGH

Price/Unit Range $179,125 - $309,091

LOW HIGH

Notes 3/1.5, 1,157 SqFt, $1685 asking rent

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Multifamily Sales Comp5220 SW Franklin AvenueBeaverton, OR 97005

TOTAL UNITS 4

YEAR BUILT 1955

SALE PRICE $830,000

PRICE/UNIT $207,500

PRICE/SF $244.69

CAP RATE 6.50 %

CLOSING DATE 12/7/2018

Cap Rate Range 5.24 % - 6.74 %

LOW HIGH

Price/Unit Range $179,125 - $309,091

LOW HIGH

Notes 2/1, 850 SqFt, $1,125

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Stoddard Townhomes Sale Comparables Summary | 14

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Multifamily Sales Comp4946 SW Marissa TerraceBeaverton, OR 97078

TOTAL UNITS 11

YEAR BUILT 2017

SALE PRICE $3,400,000

PRICE/UNIT $309,091

PRICE/SF $168.21

CAP RATE 5.24 %

CLOSING DATE 5/31/2018

DAYS ON MARKET 97

Cap Rate Range 5.24 % - 6.74 %

LOW HIGH

Price/Unit Range $179,125 - $309,091

LOW HIGH

Notes 3/2 (4) & 3/3 (7), 1,600 SqFt

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Multifamily Sales Comp17422 NW Springville RoadPortland, OR 97229

TOTAL UNITS 40

YEAR BUILT 2018

SALE PRICE $10,500,000

PRICE/UNIT $262,500

PRICE/SF $285.33

CAP RATE 5.96 %

CLOSING DATE 12/26/2018

Cap Rate Range 5.24 % - 6.74 %

LOW HIGH

Price/Unit Range $179,125 - $309,091

LOW HIGH

Notes Studio/1 (4) & 1/1 (6) & 2/2 (30), 549-1,029 SqFt,$1,375-$1,595

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Stoddard Townhomes Sale Comparables Summary | 15

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Stoddard Townhomes4501 SW Stoddard DriveBeaverton, OR 97007

TOTAL UNITS 30

YEAR BUILT 1977

ASKING PRICE $7,300,000

PRICE/UNIT $243,333

PRICE/SF $193.89

CAP RATE 5.56 %

GRM 12.94

OCCUPANCY 100.00 %

Cap Rate Range 5.24 % - 6.74 %

LOW HIGH

Price/Unit Range $179,125 - $309,091

LOW HIGH

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Financial Analysis

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Stoddard Townhomes Income & Expense Analysis | 17

INCOME CURRENT PRO FORMA

Gross Potential Rent $525,420 $592,200

Fee Income $6,135 $5,625

RUBS $29,520 $30,780

Other Income $3,190 $3,750

Gross Potential Income $564,265 $632,355

Less: General Vacancy $29,610

Effective Gross Income $564,265 $602,745

Less: Expenses $158,714 $170,485

Net Operating Income $405,551 $432,260

Annual Debt Service $288,508 $288,508

Debt Coverage Ratio 1.41 1.50

Cash Flow After Debt Service $103,458 $134,752

Principal Reduction $74,983 $74,983

Total Return 7.0 % $178,441 8.2 % $209,735

EXPENSES CURRENT PROFORMA

Turnover $305 $9,155 $250 $7,500

Repairs & Maintenance $755 $22,642 $650 $19,500

Payroll $655 $19,656 $804 $24,110

Management Fee $507 $15,200 $904 $27,124

Utilities $1,579 $47,360 $1,577 $47,300

HOA $60 $1,800 $60 $1,800

Contracted Services/Landscaping $213 $6,400 $213 $6,400

Real Estate Taxes $1,025 $30,751 $1,025 $30,751

Insurance $192 $5,750 $200 $6,000

Total Operating Expense $5,290 $158,714 $5,683 $170,485

Reserves $453 $13,585 $300 $9,000

Expense / SF $4.21 $4.52

% of EGI 28.13 % 28.28 %

Per Unit Per Unit

REVENUE ALLOCATION

DISTRIBUTION OF EXPENSES

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Demographic Charts

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Stoddard Townhomes Demographics | 19

POPULATION 1 MILE 3 MILE 5 MILE

2000 Population 10,800 89,761 225,077

2010 Population 12,680 110,189 266,422

2018 Population 13,980 127,096 300,849

2023 Population 14,967 138,553 324,752

2018 African American 342 4,070 8,104

2018 American Indian 133 1,038 2,364

2018 Asian 1,239 17,186 38,084

2018 Hispanic 3,202 24,095 59,068

2018 White 9,905 84,979 205,984

2018 Other Race 1,595 12,000 28,505

2018 Multiracial 708 7,196 16,384

2018-2023: Population: Growth Rate 6.85 % 8.70 % 7.70 %

2018 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

less than $15,000 251 2,632 6,886

$15,000-$24,999 255 2,472 7,185

$25,000-$34,999 340 3,622 9,220

$35,000-$49,999 489 5,660 13,794

$50,000-$74,999 1,004 8,914 21,377

$75,000-$99,999 1,008 6,993 16,920

$100,000-$149,999 920 8,255 21,217

$150,000-$199,999 301 3,334 8,958

$200,000 or greater 99 2,977 7,609

Median HH Income $74,800 $71,601 $71,950

Average HH Income $80,926 $90,665 $91,149

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2000 Total Housing 3,751 33,780 89,857

2010 Total Households 4,299 39,314 101,347

2018 Total Households 4,666 44,860 113,165

2023 Total Households 4,977 48,816 121,879

2018 Average Household Size 2.97 2.82 2.64

2000 Owner Occupied Housing 2,636 20,211 47,382

2000 Renter Occupied Housing 1,010 11,875 37,433

2018 Owner Occupied Housing 3,359 27,918 62,829

2018 Renter Occupied Housing 1,308 16,942 50,337

2018 Vacant Housing 157 1,835 5,619

2018 Total Housing 4,823 46,695 118,784

2023 Owner Occupied Housing 3,664 30,855 69,008

2023 Renter Occupied Housing 1,313 17,961 52,871

2023 Vacant Housing 166 1,786 5,516

2023 Total Housing 5,143 50,602 127,395

2018-2023: Households: Growth Rate 6.50 % 8.50 % 7.45 %

Source: esri

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Stoddard Townhomes Demographic Charts | 20

1 Mile Radius 3 Mile Radius 5 Mile Radius

2018 Household Income

1 Mile Radius 3 Mile Radius 5 Mile Radius

2018 Population by Race

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Stoddard Townhomes Demographic Charts | 21

2018 Household Occupancy - 1 Mile Radius

Average Income Median Income

2018 Household Income Average and Median

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Stoddard Townhomes Sale Comparables Summary | 04

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Condo Conversion Comp20380 SW Tammy CourtBeaverton, OR 97007

TOTAL UNITS 1YEAR BUILT 1970SALE PRICE $305,000PRICE/UNIT $305,000PRICE/SF $302.58CLOSING DATE 12/1/2017

Cap Rate Range

LOW HIGH

Price/Unit Range $238,500 - $331,000

LOW HIGH

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Condo Conversion Comp4025 SW 202nd StreetBeaverton, OR 97007

TOTAL UNITS 1YEAR BUILT 1973SALE PRICE $310,000PRICE/UNIT $310,000PRICE/SF $267.24CLOSING DATE 2/1/2017

Cap Rate Range

LOW HIGH

Price/Unit Range $238,500 - $331,000

LOW HIGH

Stoddard Townhomes Condo Conversion Sales Comps | 23

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Stoddard Townhomes Sale Comparables Summary | 05

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Condo Conversion Comp4110 SW 203rd AvenueBeaverton, OR 97007

TOTAL UNITS 1YEAR BUILT 1970SALE PRICE $295,983PRICE/UNIT $295,983PRICE/SF $293.63CLOSING DATE 9/1/2016

Cap Rate Range

LOW HIGH

Price/Unit Range $238,500 - $331,000

LOW HIGH

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Condo Conversion Comp20896 SW Eggert WayBeaverton, OR 97007

TOTAL UNITS 1YEAR BUILT 1997SALE PRICE $238,500PRICE/UNIT $238,500PRICE/SF $196.78CLOSING DATE 3/1/2016

Cap Rate Range

LOW HIGH

Price/Unit Range $238,500 - $331,000

LOW HIGH

Stoddard Townhomes Condo Conversion Sales Comps | 24

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Stoddard Townhomes Sale Comparables Summary | 06

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Condo Conversion Comp20752 SW Eggert WayBeaverton, OR 97007

TOTAL UNITS 1YEAR BUILT 1998SALE PRICE $265,000PRICE/UNIT $265,000PRICE/SF $212.51CLOSING DATE 5/1/2016

Cap Rate Range

LOW HIGH

Price/Unit Range $238,500 - $331,000

LOW HIGH

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Condo Conversion Comp4640 SW Stoddard DriveBeaverton, OR 97007

TOTAL UNITS 1YEAR BUILT 1979SALE PRICE $331,000PRICE/UNIT $331,000PRICE/SF $227.65CLOSING DATE 5/1/2017

Cap Rate Range

LOW HIGH

Price/Unit Range $238,500 - $331,000

LOW HIGH

Stoddard Townhomes Condo Conversion Sales Comps | 25

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Stoddard Townhomes Sale Comparables Summary | 07

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Condo Conversion Comp20894 SW Eggert WayBeaverton, OR 97007

TOTAL UNITS 1YEAR BUILT 1997SALE PRICE $269,000PRICE/UNIT $269,000PRICE/SF $221.95CLOSING DATE 10/1/2016

Cap Rate Range

LOW HIGH

Price/Unit Range $238,500 - $331,000

LOW HIGH

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Stoddard Townhomes4481-4501 SW Stoddard DriveBeaverton, OR 97007

TOTAL UNITS 8YEAR BUILT 1977ASKING PRICE $1,995,000PRICE/UNIT $249,375PRICE/SF $480.00CAP RATE 5.40 %GRM 13.05OCCUPANCY 100.00 %

Cap Rate Range 5.40 % - 5.40 %

LOW HIGH

Price/Unit Range $238,500 - $331,000

LOW HIGH

Stoddard Townhomes Condo Conversion Sales Comps | 26

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Stoddard Townhomes

CONFIDENTIALITY and DISCLAIMERThe information contained in the following offering memorandum is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from Pounder Realty andit should not be made available to any other person or entity without the written consent ofPounder Realty.

By taking possession of and reviewing the information contained herein the recipient agrees tohold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have nointerest in the subject property, please promptly return this offering memorandum to PounderRealty. This offering memorandum has been prepared to provide summary, unverified financialand physical information to prospective purchasers, and to establish only a preliminary level ofinterest in the subject property.

The information contained herein is not a substitute for a thorough due diligence investigation.Pounder Realty has not made any investigation, and makes no warranty or representation withrespect to the income or expenses for the subject property, the future projected financialperformance of the property, the size and square footage of the property and improvements, thepresence of absence of contaminating substances, PCBs or asbestos, the compliance with local,state and federal regulations, the physical condition of the improvements thereon, or financialcondition or business prospects of any tenant, or any tenant’s plans or intentions to continue itsoccupancy of the subject property.

The information contained in this offering memorandum has been obtained from sources webelieve reliable; however, Pounder Realty has not verified, and will not verify, any of theinformation contained herein, nor has Pounder Realty conducted any investigation regardingthese matters and makes no warranty or representation whatsoever regarding the accuracy orcompleteness of the information provided. All potential buyers must take appropriate measuresto verify all of the information set forth herein. Prospective buyers shall be responsible for theircosts and expenses of investigating the subject property.

Exclusively Marketed by:

Grayson Pounder Tyler GerdingPresident, Principal Broker Vice President, Broker503-680-4638 503-467-8901License # 200008193 License # [email protected] [email protected]

6105 SW Macadam Ave, ste 200, Portland, OR 97239 powered by CREOP