Russell Hosner Portland, Oregon 97223 Russell Hosner real...
Transcript of Russell Hosner Portland, Oregon 97223 Russell Hosner real...
Russell Hosnerreal estate investment services
Russell Hosnerreal estate investment services
Russell Hosnerreal estate investment services
Russell HosnerOne Lincoln Center
10300 SW Greenburg Rd Suite 490Portland, Oregon 97223
22 UNIT APARTMENTS – NEW CONSTRUCTION422 NE Dekum Street | Portland, OR
» Estimated completion date October 2017
» Spacious contemporary units
» Energy efficient appliances and fixtures
» Laundry in unit
» Walk score of 82, bike score of 89
FOR SALE
For more information, contact:
Drew Russell503-816-4539
[email protected] Hosner
PROPERTY HIGHLIGHTS
Exterior
» Private balconies
» Low maintenance exterior finishes
» Large, bright windows
» Secured entry
» Built by Joseph Hughes Construction
Interior
» Contemporary finishes
» Stainless steel appliances
» Air conditioning
» High-end vinyl plank flooring
» Full size laundry in each unit
» Spacious closets
Year Built 2017 Laundry Room in unit
Lot Size 5000 SF Heating Electric
Exterior mixed Hot Water Electric
Parking on street Cable TV yes
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied , as to the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Dekum 2 Apartments | Portland, OR
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied , as to the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
1st Floor
Typical Floor
Dekum 2 Apartments | Portland, OR
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied , as to the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Dekum 2 Apartments | Portland, OR
AREA HIGHLIGHTS | AMENITIES
Dekum Apartments
1. Taco Bell 2. Teriyaki Heaven 3. Georgie’s Ceramic & Clay4. Mongolian Grill5. Sit Stay Fit6. Classic Foods 7. Double J Tire Center8. The High Water Mark9. Firehouse10. Upcycles11. Koken Market12. Oregon Kombucha13. Woodlawn Coffee & Pastry14. Breakside Brewery15. Cafe Eleven16. Henry V17. Parr Lumber18. Starbucks19. Walgreens20. Popeyes Lousiana Kitchen21. Safeway22. Western Union23. Bank of America24. Fish Fusion25. Wells Fargo26. Bennie’s Little Kicker BBQ27. Wing’s World Chicken & Waffles28. KFC29. Subway30. Boost Mobile31. Dream Nails32. US Bank33. Van’s Auto Shop34. U-Haul35. Knockout Taco36. Catalina’s37. Piedmont Station Food Carts
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Dining
Shopping/Entertainment
Lifestyle
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied , as to the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Dekum 2 Apartments | Portland, OR
SALES COMPARABLES
Prepared for 5/10/2017
(503) [email protected]: 970800033
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Sale Map w/ Line Item Report for Multifamily Properties in Portland, OR
Map
Property Address Sale Date Sale Price Property Type Subtype
1315 Nw 19th Avenue Portland, OR 02/01/2017 $20,150,000 ($366,363.64/Unit) Multifamily Garden/Low-Rise
3916 Sw Corbett Avenue Portland, OR 02/01/2017 $15,000,000 ($340,909.09/Unit) Multifamily Garden/Low-Rise
8338 N Interstate Avenue Portland, OR 01/31/2017 $14,000,000 ($245,614.04/Unit) Multifamily Garden/Low-Rise
1250 E Burnside Street Portland, OR 12/09/2016 $39,000,000 ($295,454.55/Unit) Multifamily Mid/High-Rise
1650 Se Harold Street Portland, OR 07/29/2016 $3,500,000 Multifamily Garden/Low-Rise
33 N Beech Street Portland, OR 04/29/2016 $6,750,000 ($355,263.16/Unit) Multifamily Garden/Low-Rise
405 Ne Mason St Portland, OR 04/20/2016 $8,300,000 ($230,555.56/Unit) Multifamily Garden/Low-Rise
3939 Sw View Point Terrace Portland, OR 04/18/2016 $3,700,000 ($308,333.33/Unit) Multifamily Garden/Low-Rise
3225 Ne M L King Boulevard Portland, OR 04/14/2016 $3,200,000 ($213,333.33/Unit) Multifamily Garden/Low-Rise
4216 N Mississippi Avenue Portland, OR 04/13/2016 $14,048,650 ($439,020.31/Unit) Multifamily Garden/Low-Rise
550 Nw 19th Avenue Portland, OR 03/22/2016 $42,500,000 ($416,666.67/Unit) Multifamily Garden/Low-Rise
Presented by Drew RussellRussell Hosner, LLC
2 miles
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2 miles
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Property Address Sale Date Sale Price Property Type Subtype
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312 Ne Monroe Street Portland, OR 02/29/2016 $2,850,000 ($237,500/Unit) Multifamily Garden/Low-Rise
446 Ne Simpson Street Portland, OR 02/05/2016 $82,500 Multifamily Garden/Low-Rise
3731 Sw Water Avenue Portland, OR 01/29/2016 $3,000,000 ($250,000/Unit) Multifamily Garden/Low-Rise
PRO FORMA INCOME AND EXPENSESPRO FORMA INCOME AND EXPENSES
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied , as to the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Dekum 2 Apartments | Portland, OR
SCHEDULED GROSS INCOME
Units Type Avg. SFAnticipated Rent per mo
Anticipated Annual Total
Market Rent per mo
Market Annual Total
9 Studio 389 $1,195 $129,060 $1,250 $135,000
6 1Br/1Ba 465 $1,295 $93,240 $1,325 $95,400
3 1Br/1Ba 515 $1,395 $50,220 $1,425 $51,300
2 1Br/1Ba 517 $1,425 $34,200 $1,450 $34,800
2 Live work 600 $1,595 $38,280 $1,650 $39,600
22 $345,000 $356,100
OPERATING SUMMARY
Anticipated MarketAnnual Gross Scheduled Income $345,000 $356,100
Less: 5% Vacancy & Credit Loss: ($17,250) ($17,805)
Plus: Utility Bill Back: $13,200 $13,200
Plus: Laundry and Misc. Income $500 $500
Effective Gross Income: $341,450 $351,995Estimated Expenses:
Taxes: $22,000 $22,660
Insurance: $2,500 $2,700
Management 8%: $27,316 $28,160
Utilities (est): $18,700 $18,700
Maintenance/Repairs/Supplies (est): $8,536 $10,560
Turnover ($150/unit/yr at 50%): $1,650 $1,650
Incentives & Misc: $1,500 $400
Reserves ($200/unit/yr): $5,500 $5,500
Landscaping: $1,500 $1,500
Total Operating Expenses: $89,202 $91,829
Per Unit: $4,055 $4,174
Percent of EGI: 26% 26%
Net Operating Income: $252,248 $260,166
Asking Price: $5,500,000 $5,500,000
Cap Rate: 4.59% 4.73%
Price Per Unit: $250,000 $250,000
Dekum 2 Apartments422 NE Dekum Street
Portland, OR
Price: $5,500,000
Russell Hosnerreal estate investment services
INVESTMENT OFFERING ANALYSISAsking price: $5,500,000
Down Payment: $2,200,000
New First: $3,300,000
New first mortage at 3.5% 3 year
Current MarketNet Operating Income: $252,248 $260,166
Less Debt Service: $177,816 $177,816
Pre-Tax Cash Flow: $74,432 $82,350
Cash on Cash Return: 3.38% 3.74%