PROPERTY OVERVIEW...1 –Studio $450 2 –Studio $445 3 –1 bedroom/1 bath $560 4 –2 bedroom/1...

MANAGEMENT • BROKERAGE • INVESTMENT • DEVELOPMENT

Desirable Multifamily Portfolio (all within 3 miles of each other)

For Sale | 7 Apartment Buildings – 35 units total

Opportunity to create value and increase NOI

FOR MORE INFORMATION:

Paul Kwapich, CCIMP: [email protected]

PROPERTY OVERVIEWWell located and maintained

apartment buildings all within a 3 mile radius of each other

Easy management

Several recent updates

Healthy occupancy (only one vacancy)

Great long term investment

Sold as package only

P: 419-740-3224 | [email protected] | KwapichRealEstate.com | 1394 Conant Street, Maumee, Ohio 43537

35 Unit Scattered Site Multifamily Portfolio in Toledo

DISCLAIMER

Kwapich Real Estate Companies, LLC has been retained as the exclusive listing brokerage to arrange for the sale of the Subject Property. This Data Package contains selected information pertaining to the Subject Property but does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require. Kwapich Real Estate Companies, LLC has prepared the information concerning the Subject Property based upon assumptions relating to the general economy, its knowledge of other similar properties in the market, and on other market assumptions including factors beyond the control of Kwapich Real Estate Companies, LLC and the Owner of the Property. Prospective purchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available to qualified prospective purchasers. In this Data Package, certain documents, including financial information, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently all documents. This Data Package is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Kwapich Real Estate Companies, LLC or the current Owner/Seller. Kwapich Real Estate Companies, LLC recommends you, as a potential purchaser, should perform your own independent examination and inspection of the Subject Property and of all of the information provided herein related to the Property. Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Data Package or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser’s obligations therein have been satisfied or waived. The Seller reserves the right to move forward with an acceptable offer prior to the call for offers deadline. This Data Package may be used only by parties approved by the Owner. The Subject Property is privately offered, and by accepting this Data Package, the party in possession hereof agrees (i) to return it if requested and (ii) that this Data Package and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Data Package may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Kwapich Real Estate Companies, LLC or Owner/Seller. The terms and conditions set forth above apply to this Data Package in its entirety and all documents, disks and other information provided in connection therewith.



ABOUT THE AREA: Toledo is an Ohio city at the western tip of Lake Erie. It's home to the Toledo Museum of Art, with its vast collection of modern and Renaissance work. Reflecting the city’s legacy of glass production, the museum's Glass Pavilion showcases thousands of glass works. By the Maumee River, the Imagination Station is a children's science museum with hands-on exhibits. The Toledo Zoo has polar bears, rides and an aquarium. In the 2000 census, Toledo's population was 313,619. The city is also home to the University of Toledo and the Toledo Mud Hens, the Detroit Tigers' triple-A professional baseball affiliate.

PORTFOLIO INFORMATION

List Price: $1,533,000

Number of Units: 35

Number of Buildings: 7

Number of Locations: 5

County: Lucas

NOI: $135,323

Price Per Unit: $43,800

Cap Rate: 8.8%


4341 Monroe Street AKA 3465 Cheltenham

BUILDING SPECIFICATIONS

Exterior Walls: Brick

Roof: Asphalt shingle (est. age 7 years)

Windows: Est. age 7 years

Floor Coverings: Carpet and vinyl

Basement: Full

Heating: Central boiler

Air Conditioning: Window units

BUILDING INFORMATION

100% Occupied

No immediate repairs or capital expenses needed

Central boiler

Owner pays gas, water/sewer, and common area electric only

Each resident has their own garage unit (included in rent)

Coin operated laundry in building (owned by Seller)

CURRENT RENT ROLL

UNIT MONTHLY RENT

1 – 2 bedroom/1 bath $700




5 – 1 bedroom/ 1 bath $550

6 – 1 bedroom / 1 bath $575

7- 2 bedroom / 1 bath $700

REAL ESTATE TAXES

PARCEL NUMBER: 0332011

TOTAL TAXES: $7,170.95


3522 Douglas Road, Toledo, Ohio



Roof: Asphalt shingle (est. age 15-20 years)

Windows: Original


Basement: Full

Heating: Furnace in each unit

Air Conditioning: Portable AC


One vacant (currently being marketed for rent)

Tenant pays gas and electric

Gas forced air furnace in each unit

Owner pays water/sewer, trash, and common area electric only


CURRENT RENT ROLL

UNIT MONTHLY RENT



3 – 2 bedroom/1 bath Vacant (marketed at $650)


REAL ESTATE TAXES




2238 W. Sylvania Avenue, Toledo, Ohio



Roof: Asphalt shingle and flat rubber (recently re-coated)

Windows: Original


Basement: Full

Heating: Gas forced furnace (one)

Air Conditioning: Window units (owned by Seller)


100% Occupied


Gas forced air furnace

Owner pays gas, water/sewer, trash, and common area electric only

10 car garage shared among residents (also with 2244 W. Sylvania)


CURRENT RENT ROLL

UNIT MONTHLY RENT

1 – Studio $450

2 – Studio $450





REAL ESTATE TAXES




2244 W. Sylvania Avenue, Toledo, Ohio



Roof: Asphalt shingle and flat rubber (recently re-coated)

Windows: Original


Basement: Full

Heating: Gas forced furnace (one)

Air Conditioning: Window units (owned by Seller)


100% Occupied


Gas forced air furnace

Owner pays gas, water/sewer, trash, and common area electric only

10 car garage shared among residents (also with 2238 W. Sylvania)


CURRENT RENT ROLL

UNIT MONTHLY RENT

1 – Studio $450

2 – Studio $445





REAL ESTATE TAXES




4225 Harvest Lane, Toledo, Ohio




Windows: New this year


Basement: Slab

Heating: 2 Furnaces per building



100% Occupied


2 Furnaces per building


4 carport spaces for both Harvest Lane properties.Only 1 is currently occupied (included in rent).


CURRENT RENT ROLL

UNIT MONTHLY RENT





REAL ESTATE TAXES




4231 Harvest Lane, Toledo, Ohio




Windows: New this year


Basement: Slab

Heating: 2 Furnaces per building



100% Occupied


2 Furnaces per building


4 carport spaces for both Harvest Lane properties.Only 1 is currently occupied (included in rent).


CURRENT RENT ROLL

UNIT MONTHLY RENT





REAL ESTATE TAXES




1612 Berdan, Toledo, Ohio



Roof: Asphalt shingle (est. age 7 years) – new metal roof on garage

Windows: Vinyl (Est. age 7 years)


Basement: Full

Heating: Gas forced air (new in 2018)



100% Occupied


Insulation freshly added to attic


Each resident has their own spot in carport (includedin rent)


CURRENT RENT ROLL

UNIT MONTHLY RENT





REAL ESTATE TAXES





ANNUAL NOTES

Rental Income

Gross Rent $244,260 Current in place rent roll

Other $7,525 Estimated laundry income and late fees

LESS: Vacancy and Credit Loss (5%) $(12,213)

Gross Operating Income $239,572

Operating Expenses

Trash Removal $1,518 2018 Actual

Insurance $9,183 2018 Actual

Lawn/Snow $5,962 2018 Actual

Water $12,583 LL responsible

Gas $11,567 LL responsible

Electric $5,2122018 Actual – tenants pay their own (common meter is owners expense)

Real Estate Taxes $32,048 2018 Actual

Legal/Accounting $1,750 Estimated

Repairs/Capital Reserves/Miscellaneous $24,426 Estimated – 10% of Gross

Total Operating Expenses $104,249

Net Operating Income $135,323

PROPERTY OVERVIEW...1 –Studio $450 2 –Studio $445 3 –1 bedroom/1 bath $560 4 –2 bedroom/1...

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