RANCHO REAL APARTMENTS290 SE 2nd Ave., Canby, OR 97013

$1,900,000

Higher Income with Rent Increase

New Price

George R. Miller, Principal971-713-1340churchdale212@gmail.com

Swift Mountain, LLC137 SW 97th Ave.

Portland, OR 97225

EXECUTIVE SUMMARY

My family is selling our multifamily property. This is a sale by owner, we are not brokers.

During the last 3 years we did major upgrades to all interiors: most with new appliances, paint, doors, flooring, fixtures, celling fans and energy efficiency upgrades.

The exterior was painted, landscaped and the parking lot sealed.

It is a two-story garden style apartment building comprised of (16) one-bedroom/ one-bathroom units, 686 square feet located in Canby OR. Built in 1963, this apartment complex has onsite parking, on-site laundry, vinyl windows and a courtyard.

• Significant rent upside• Storage income potential• Well maintained• Great location• Quite neighborhood• On site laundry

• Spacious 686 Sq Ft units• Professionally Managed by TMG• Major renovation to all units• Copper piping & vinyl windows• Tenants mainly professional• Very walkable

Rancho Real ApartmentsSwift Mountain, LLC

137 SW 97th Ave. Portland, OR 97225

Rancho Financials Production file Put in Excecutive summery

Financial AnalysisCurrent Proforma Current Proforma

Per/Unit Amount %EGI Per Unit Amount NOI $114,145 $126,659

$561 $8,982 4.8% $561 $8,982 Cap Rate 5.71% 6.33%

$200 $3,200 1.7% $200 $3,200 GRM 11.2 10.5

$953 $15,240 8.1% $953 $15,240 Debt Service $85,923 $85,923

$824 $13,181 7.5% $886 $14,180 Cash Flow $28,222 $40,736

$125 $2,000 1.0% $125 $1,800 Cash Return 5.64% 8.15%

$625 $10,000 5.3% $625 $10,000

$313 $5,000 2.6% $313 $5,000

$250 $4,000 2.1% $250 $4,000

$3,850 $61,603 33% $3,913 $62,402

Financing Price 2,000,000

Down Payment $500,000

Down Payment % 25%

Debt Service $85,923

Loan Amount $1,500,000

Interest Rate 4.00%

Terms 5 year fixed/30 yr arm

Down Payment

Down Payment %

Debt Services

Loan Amount

Interest Rate

Price

$475,000

25%

$79,488

$1,425,000

4.00%

Financing

leOverview

Current Proforma Current Proforma

Per/Unit Amount %EGI Per Unit Amount NOI $114,145 $126,659

$561 $8,982 4.8% $561 $8,982 Cap Rate 5.71% 6.33%

$200 $3,200 1.7% $200 $3,200 GRM 11.2 10.5

$953 $15,240 8.1% $953 $15,240 Debt Service $81,372 $81,372

$824 $13,181 7.5% $886 $14,180 Cash Flow $32,773 $45,287

$125 $2,000 1.0% $125 $1,800 Cash Return 5.46% 7.55%

$625 $10,000 5.3% $625 $10,000

$313 $5,000 2.6% $313 $5,000

$250 $4,000 2.1% $250 $4,000

$3,850 $61,603 33% $3,913 $62,402

Financing Down Payment $600,000

Down Payment % 30%

Debt Service $81,372

Loan Amount $1,400,000

Interest Rate 4.12%

Terms 5 year fixed/30 yr arm

CurrentSummary Proforma

$115,600 $121,611 $1,900,000

Rancho Financials Production fiIncome Expenses

Current Proforma

Gross Schedule Rent $169,440 $182,400 %EGI

RUBs 45/month/unit $8,640 $8,640 Taxes & City Fees 5.1%

Gross income $178,080 $191,040 Insurance 1.8%

Less Vacancy 5% $8,904 $9,552 Utilities 8.7%

Effective Rental Income $169,176 $181,488 Professional Mgmt 7.5%

Laundry $2,365 $2,365 Landscaping 1.1%

Other Income $4,207 $5,207 Maint. & Repair 5.7%

Effective Gross Income $175,748 $189,060 Turnover 2.8%

Capital Reserves 2.3%

Total Expenses 35%

SummaryPrice $2,000,000

Type 1BR/1BR

Units 16

Unit Sq Ft 684

Building Sq Ft 10,944

Price/Sq Ft $183

Year Build 1,963

Rancho Financials Production fiIncome Expenses

Current Proforma

Gross Schedule Rent $169,440 $182,400 %EGI

RUBs 45/month/unit $8,640 $8,640 Taxes & City Fees 5.1%

Gross income $178,080 $191,040 Insurance 1.8%

Less Vacancy 5% $8,904 $9,552 Utilities 8.7%

Effective Rental Income $169,176 $181,488 Professional Mgmt 7.5%

Laundry $2,365 $2,365 Landscaping 1.1%

Other Income $4,207 $5,207 Maint. & Repair 5.7%

Effective Gross Income $175,748 $189,060 Turnover 2.8%

Capital Reserves 2.3%

Total Expenses 35%

SummaryPrice $2,000,000

Type 1BR/1BR

Units 16

Unit Sq Ft 684

Building Sq Ft 10,944

Price/Sq Ft $183

Year Build 1,963

Property

1963

1BR/1BR

5

$79,488 $79,488

$36,112 $42,123

7.81% 9.11%

10.0% 9.7%

6.25% 6.57%

$169

Rancho Financials Production fiIncome Expenses

Current Proforma

Gross Schedule Rent $169,440 $182,400 %EGI

RUBs 45/month/unit $8,640 $8,640 Taxes & City Fees 5.1%

Gross income $178,080 $191,040 Insurance 1.8%

Less Vacancy 5% $8,904 $9,552 Utilities 8.7%

Effective Rental Income $169,176 $181,488 Professional Mgmt 7.5%

Laundry $2,365 $2,365 Landscaping 1.1%

Other Income $4,207 $5,207 Maint. & Repair 5.7%

Effective Gross Income $175,748 $189,060 Turnover 2.8%

Capital Reserves 2.3%

Total Expenses 35%

SummaryPrice $2,000,000

Type 1BR/1BR

Units 16

Unit Sq Ft 684

Building Sq Ft 10,944

Price/Sq Ft $183

Year Build 1,963

leOverview

Current Proforma Current Proforma

Per/Unit Amount %EGI Per Unit Amount NOI $114,145 $126,659

$561 $8,982 4.8% $561 $8,982 Cap Rate 5.71% 6.33%

$200 $3,200 1.7% $200 $3,200 GRM 11.2 10.5

$953 $15,240 8.1% $953 $15,240 Debt Service $81,372 $81,372

$824 $13,181 7.5% $886 $14,180 Cash Flow $32,773 $45,287

$125 $2,000 1.0% $125 $1,800 Cash Return 5.46% 7.55%

$625 $10,000 5.3% $625 $10,000

$313 $5,000 2.6% $313 $5,000

$250 $4,000 2.1% $250 $4,000

$3,850 $61,603 33% $3,913 $62,402

Financing Down Payment $600,000

Down Payment % 30%

Debt Service $81,372

Loan Amount $1,400,000

Interest Rate 4.12%

Terms 5 year fixed/30 yr arm

Swift Mountain, LLC137 SW 97th Ave.

Portland, OR 97225Rancho Real Apartments

Expenses%EGI Amount AmountPer/Unit%EGI

leOverview

Current Proforma Current Proforma

Per/Unit Amount %EGI Per Unit Amount NOI $114,145 $126,659

$561 $8,982 4.8% $561 $8,982 Cap Rate 5.71% 6.33%

$200 $3,200 1.7% $200 $3,200 GRM 11.2 10.5

$953 $15,240 8.1% $953 $15,240 Debt Service $81,372 $81,372

$824 $13,181 7.5% $886 $14,180 Cash Flow $32,773 $45,287

$125 $2,000 1.0% $125 $1,800 Cash Return 5.46% 7.55%

$625 $10,000 5.3% $625 $10,000

$313 $5,000 2.6% $313 $5,000

$250 $4,000 2.1% $250 $4,000

$3,850 $61,603 33% $3,913 $62,402

Financing Down Payment $600,000

Down Payment % 30%

Debt Service $81,372

Loan Amount $1,400,000

Interest Rate 4.12%

Terms 5 year fixed/30 yr arm

1 Based on highest current rent2 Pet rent, late and lease break fees3 Actual 2018 annualized4 Budget, no current data because

of renovation5 Estimated Financing

Rancho Financials Production fiIncome Expenses

Current Proforma

Gross Schedule Rent $169,440 $182,400 %EGI

RUBs 45/month/unit $8,640 $8,640 Taxes & City Fees 5.1%

Gross income $178,080 $191,040 Insurance 1.8%

Less Vacancy 5% $8,904 $9,552 Utilities 8.7%

Effective Rental Income $169,176 $181,488 Professional Mgmt 7.5%

Laundry $2,365 $2,365 Landscaping 1.1%

Other Income $4,207 $5,207 Maint. & Repair 5.7%

Effective Gross Income $175,748 $189,060 Turnover 2.8%

Capital Reserves 2.3%

Total Expenses 35%

SummaryPrice $2,000,000

Type 1BR/1BR

Units 16

Unit Sq Ft 684

Building Sq Ft 10,944

Price/Sq Ft $183

Year Build 1,963

Rancho Financials Production fiIncome Expenses

Current Proforma

Gross Schedule Rent $169,440 $182,400 %EGI

RUBs 45/month/unit $8,640 $8,640 Taxes & City Fees 5.1%

Gross income $178,080 $191,040 Insurance 1.8%

Less Vacancy 5% $8,904 $9,552 Utilities 8.7%

Effective Rental Income $169,176 $181,488 Professional Mgmt 7.5%

Laundry $2,365 $2,365 Landscaping 1.1%

Other Income $4,207 $5,207 Maint. & Repair 5.7%

Effective Gross Income $175,748 $189,060 Turnover 2.8%

Capital Reserves 2.3%

Total Expenses 35%

SummaryPrice $2,000,000

Type 1BR/1BR

Units 16

Unit Sq Ft 684

Building Sq Ft 10,944

Price/Sq Ft $183

Year Build 1,963

Rancho Financials Production fiIncome Expenses

Current Proforma

Gross Schedule Rent $169,440 $182,400 %EGI

RUBs 45/month/unit $8,640 $8,640 Taxes & City Fees 5.1%

Gross income $178,080 $191,040 Insurance 1.8%

Less Vacancy 5% $8,904 $9,552 Utilities 8.7%

Effective Rental Income $169,176 $181,488 Professional Mgmt 7.5%

Laundry $2,365 $2,365 Landscaping 1.1%

Other Income $4,207 $5,207 Maint. & Repair 5.7%

Effective Gross Income $175,748 $189,060 Turnover 2.8%

Capital Reserves 2.3%

Total Expenses 35%

SummaryPrice $2,000,000

Type 1BR/1BR

Units 16

Unit Sq Ft 684

Building Sq Ft 10,944

Price/Sq Ft $183

Year Build 1,963

Income Rent12-1-2019 5-1-2020

Proforma

Taxes & City Fees

Insurance

U�li�es

Professional Mgmt

Landscaping

Maint. & Repair

Turnover

Capital Reserves

Total Expenses

Current Proforma

1

2

3

3

3

3

4

4

4

4

Please do not disturb the tenants

$175,560

$174,990

$184,200

$4,207

$9,210

$1,800

$180,997 $187,495

$1,800

5.0%

8.4%

1.1%

$848 $899$13,575 $14,062

$10,600

$2,000

5.9% 5.7%

3.9% 3.8%

2.6% 2.5%

36% 36%$4,087 $4,118$65,397 $65,884

$663 $663$10,600

$444 $444$7,100 $7,100

$294 $294$4,700 $4,700

Rancho Financials Production fiIncome Expenses

Current Proforma

Gross Schedule Rent $169,440 $182,400 %EGI

RUBs 45/month/unit $8,640 $8,640 Taxes & City Fees 5.1%

Gross income $178,080 $191,040 Insurance 1.8%

Less Vacancy 5% $8,904 $9,552 Utilities 8.7%

Effective Rental Income $169,176 $181,488 Professional Mgmt 7.5%

Laundry $2,365 $2,365 Landscaping 1.1%

Other Income $4,207 $5,207 Maint. & Repair 5.7%

Effective Gross Income $175,748 $189,060 Turnover 2.8%

Capital Reserves 2.3%

Total Expenses 35%

SummaryPrice $2,000,000

Type 1BR/1BR

Units 16

Unit Sq Ft 684

Building Sq Ft 10,944

Price/Sq Ft $183

Year Build 1,963

leOverview

Current Proforma Current Proforma

Per/Unit Amount %EGI Per Unit Amount NOI $114,145 $126,659

$561 $8,982 4.8% $561 $8,982 Cap Rate 5.71% 6.33%

$200 $3,200 1.7% $200 $3,200 GRM 11.2 10.5

$953 $15,240 8.1% $953 $15,240 Debt Service $81,372 $81,372

$824 $13,181 7.5% $886 $14,180 Cash Flow $32,773 $45,287

$125 $2,000 1.0% $125 $1,800 Cash Return 5.46% 7.55%

$625 $10,000 5.3% $625 $10,000

$313 $5,000 2.6% $313 $5,000

$250 $4,000 2.1% $250 $4,000

$3,850 $61,603 33% $3,913 $62,402

Financing Down Payment $600,000

Down Payment % 30%

Debt Service $81,372

Loan Amount $1,400,000

Interest Rate 4.12%

Terms 5 year fixed/30 yr arm

Swift Mountain, LLC137 SW 97th Ave.

Portland, OR 97225Rancho Real Apartments

The Pride in Our Work Can Be Seen Throughout

Swift Mountain, LLC137 SW 97th Ave.

Portland, OR 97225Rancho Real Apartments

Very Walkable Friendly Neighborhood

Swift Mountain, LLC137 SW 97th Ave.

Portland, OR 97225Rancho Real Apartments

All Cabinets Replaced or Renovated

Very Well-Maintained Asset

Swift Mountain, LLC137 SW 97th Ave.

Portland, OR 97225Rancho Real Apartments

Parking Lot Sealed

LED Lightsand Digital Thermostats