RANCHO REAL APARTMENTS - LoopNet · Rancho Real Apartments Swift Mountain, LLC 137 SW 97th Ave....
Transcript of RANCHO REAL APARTMENTS - LoopNet · Rancho Real Apartments Swift Mountain, LLC 137 SW 97th Ave....
RANCHO REAL APARTMENTS290 SE 2nd Ave., Canby, OR 97013
$1,900,000
Higher Income with Rent Increase
New Price
George R. Miller, [email protected]
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