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4501 SW Stoddard DriveBeaverton, OR 97007
Stoddard TownhomesTOWNHOME LIVING, 30 UNITS
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
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
Stoddard Townhomes Aerial Map | 07
Stoddard Townhomes Property Images | 08
Covered Carports for Each Unit Exterior Storage Closets
HOA Maintained Playground Plentiful Greenspace and MatureLandscaping
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
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
1
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
2
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
Stoddard Townhomes Sale Comparables Summary | 13
3
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
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
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
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
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
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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Additional Information
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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
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
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
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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
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