STUDENT HOUSING STUDENT HOUSING INVESTMENT OPPORTUNITYINVESTMENT OPPORTUNITY

Alex Marshamarsh@rweiler.com

10 N. High St. Suite 401 Columbus, Ohio 43215

614-221-4286www.rweiler.com

29 Bed Student Housing Facility For SaleNear The Third Largest University in The Country!

Near Ohio State Main CampusColumbus, Ohio

Property DescriptionProperty DescriptionINCREDIBLE INVESTMENT OPPORTUNITY!

Rare opportunity to purchase a 29 bed, 8 units portfolio near Ohio State main campus. The portfolio has been updated with stainless steel appliances, granite countertops, central a/c,

newer roofs and other major capital improvements. The properties have stayed historically leased and comps in the area top $80,000 per bed. This portfolio is priced aggressively for a quick sale.

Address: 347-349 E Tompkins StreetPID: 010-004300-00Acreage: 0.08 +/- acreBuilding Size: 2,974 +/- SFTotal Beds: 8 (4 Bed, 2 BA & 4 Bed, 2 BA)

Address: 2382-2384 Indianola AvenuePID: 010-016320-00Acreage: 0.14 +/- acBuilding Size: 2,827+/- SFTotal Beds: 6 (3 Bed, 1 BA & 3 Bed, 1 BA)

Address: 72-74 West Maynard AvenuePID: 010-021587-00Acreage: 0.12 +/- acBuilding Size: 2,436 +/- SFTotal Beds: 8 (4 Bed, 2 BA & 4 Bed, 2 BA)

Sale Price: $1,600,000Monthly Rev: $12,000Annual Rev: $144,000Expenses: $50,400NOI: $93,600

Address: 2788-2790 Indianola AvenuePID: 010-014367-00Acreage: 0.13 +/- acBuilding Size: 2,194 +/- SFTotal Beds: 7 (4 Bed, 2 BA & 3 Bed, 1 BA)

Cap Rate: 5.85%Price/Bed: $55,172Total Units: 8Total Beds: 29Total SF: 10,431 +/- SF

2382 -2384 Indianola $1,350 $1,350 $2,700 Annual Income $32,4003 bed, 1 per side Expenses $11,340

# of Beds 6 NOI $21,060Cap Rate 5.50%List Price $382,909

2788-2790 Indianola $1,650 $1,300 $2,950 Annual Income $35,4004 bed, 2 bath Expenses $12,3903 bed, 1 bath NOI $23,010

# of Beds 7 Cap Rate 5.50%List Price $418,364

72-74 West Maynard $1,650 $1,650 $3,300 Annual Income $39,6004 bed, 2 bath per side Expenses $13,860

# of Beds 8 NOI $25,740Cap Rate 5.50%List Price $468,000

347-349 E Tompkins. $1,500 $1,550 $3,050 Annual Income $36,6004 bed per side, 2 bath Expenses $12,810

# of Beds 8 NOI $23,790Cap Rate 5.50%List Price $432,545

Monthly Rev $12,000 Total $1,701,818Annual Rev $144,000 $425,455

Expenses $50,400NOI $93,600

Cap Rate 5.85%List Price $1,600,000

Total Number of Beds 29Price Per Bed $55,172

Finley Properties - Ohio State - Main Campus

FinancialsFinancials

Aerial & Plat MapsAerial & Plat Maps347-349 E Tompkins St

Aerial & Plat MapsAerial & Plat Maps2382-2384 Indianola Ave

Aerial & Plat MapsAerial & Plat Maps2788-2790 Indianola Ave

Aerial & Plat MapsAerial & Plat Maps72-74 W Maynard Ave

PhotosPhotos

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Street MapsStreet Maps

Location MapLocation Map

Click here to see the map

Property LocationProperty Location

Great Location!Near to The Ohio State University Main Campus

Minutes to Downtown15 minutes to John Glenn International Airport

Traffic Map Traffic Map

Demographics Demographics

Property LocationProperty Location

• 35,821 Full Time Employees• 3rd largest university in USA (enrollment)• 59,800 students• >200 Majors• Approx. 66% of students live off-campus*• Proximity to Downtown, Short North Arts District and Clintonville

*Ohio State Office of Student Life

Ohio State

• Population: 860,090• Median Household Income: $47,156• Per Capita Income: $25,781• Corporate Environment:• Chase Bank• Nationwide Insurance• Huntington Bank• Cardinal Health• American Electric Power

Columbus

Columbus has seen tremendous growth over the past ten years and is home to the State Capital. Ranked 14th largest in the country, the city is well positioned for future success. Very rarely does a like-new property

such as this hit the market in the Ohio State off-campus area. One thousand feet to the Ohio State main campus, the property has the ability to be leased to undergraduate and graduate students. All leases are

currently guaranteed by a parent, providing great financing options. Demand has been high for the property and it is 100% leased through the 2018-2019 school year. 1956 Iuka is 100% leased through 2021.

The property is currently leased to the Alpha Tau Omega Fraternity (ATO) for the 2018-2019 school year.

The Ohio State UniversityThe Ohio State University

The Ohio State University’s main Columbus campus is one of America’s largest and most comprehensive. More than 59,400 students select from 19 colleges, 170 undergrad-uate majors, and 215 master’s, doctoral and professional degree programs.

As Ohio’s best and one of the nation’s top-20 public uni-versities, Ohio State is further recognized by a top-rated academic medical center and a premier cancer hospital and research center.

Ohio resident tuition for the 2017-18 year, including room and board, averages $22,843.

Enrollment and Tuition • Enrollment (Columbus Campus, undergraduate and

graduate): 59,482 • Estimated tuition and fees for full-time undergraduates

(fall 2016): • Tuition: $10,591 • Room & Board: $12,252

Academics • Number of majors: more than 200 • Number of academic specializations: 475 • Number of courses offered: more than 12,000 • First-year student retention rate in 2015: 94.2% • Undergraduate student/faculty ratio: 19:1

Columbus, OH Columbus, OHApartment Market OverviewApartment Market Overview

Like many state capitals, Columbus benefits from the economic stability that high levels of government employment provide. Over 50,000 residents work for the state, but the region's real strength is the private sector. The metro is home to Fortune 500 companies as well as regional powerhouses, and job growth has con-sistently outpaced the national average. This is bringing in residents from across the coun-try, and the metro’s population has climbed by more than 7% this cycle. A quarter of the metro’s population is 20–34 years old, and the 66,000 students enrolled at Ohio State provide a robust base level of demand. Even more promisingly, high-end supply is quickly filling across the metro, and not just in student-ori-ented neighborhoods.

The construction already underway Downtown will begin to transform city life by the end of the year, with close to 2,000 new units expected to deliver. Columbus has never had a live/work/play environment in the heart of the city, and such an influx of new residents will likely promote growth in retail and office stock, increasing demand for space in the city. This positive feedback loop has already begun in trendy areas like Short North, Italian Village, and Grandview Heights. The cultur-al and commercial options are helping keep Ohio State students in place after graduation, attract-ing Millennials from across the country, which means demand for space continues to grow. With economic figures expected to remain robust through 2018, there is little reason for pessimism about the metro’s ability to absorb the thousands of new units expected this year. Vacancies and rent growth are healthy across the board, and fundamentals continue to outperform historical averages.

County HighlightsCounty Highlights

11FACTBOOK

franklin county

EMPLOYMENT BY INDUSTRY

DEMOGRAPHICS

1,264,597RESIDENTS

33.8MEDIAN AGE

480,946HOUSEHOLDS

$52,341MEDIAN HOUSEHOLD INCOME

FRANKLIN COUNTY EMPLOYMENT BY INDUSTRY

Construction and Mining

3% 5%4%

9%

6%

8%

20%

16%

10%

3%

16%Manufacturing

Wholesale Trade

Retail Trade

Transportation and Utilities

Financial Activities

Professional and Business Services

Education and Health

Leisure and Hospitality

Other Services

Government

WORKFORCE

4.1% UNEMPLOYMENT RATEFRANKLIN COUNTY

helor US

0 10 20 30 40 50

BacBachelorAssociate USAssociate

% 25+ WITH ASSOCIATE DEGREE

OR HIGHER

% 25+ WITH BACHELOR’S DEGREE

OR HIGHER

Franklin County

U.S.Average

30.6%

38.8%

44.3%

37.6%

Source: U.S. Census Bureau, 2016 Population Estimates; U.S. Census Bureau, American Community Survey 2015; EMSI, 2017; Bureau of Labor Statistics, LAUS, seasonally adjusted by Columbus 2020 (2016 average)

COMPANY FTE OPERATIONSNationwide 13,400 HQ, software development, analytics, data center

Cardinal Health, Inc. 5,058HQ, distribution of pharmaceuticals and medical devices, radiopharmaceutical production

JPMorgan Chase & Co. 4,700 Major back office, software development, card manufacturing, data center

American Electric Power Company, Inc. 3,627 Utilities HQ, R&D, smart grid technology, transmissions, data center

Alliance Data Systems Corporation 3,057 Card services unit HQ, transactions processing, data center

Defense Supply Center Columbus 3,000 HQ of the Land and Maritime Supply Chain, distributin of supplies

Express Scripts 2,441 Pharmaceuticals distribution, customer service

Verizon Communications Inc. 2,406 Telecommunications back office, customer service, switching operations, data center

Gap, Inc. 2,200 Distribution and fulfillment of apparel, customer service

Abercrombie & Fitch Co. 2,200 HQ, distribution and fulfillment of apparel, software development

LARGEST PRIVATE SECTOR EMPLOYERS

Marion County

KnoxCounty

Logan County

CLEVELAND

DETROIT

INDIANAPOLIS

CHICAGO

LOUISVILLE

PITTSBURGH

CINCINNATI

ATLANTA

ST. LOUIS

80

75

9080

90

64

70

80

71

COLUMBUS 70

77

77

64

75

65

40

250 miles 400 km

500 miles 800 km

RICHMOND

TORONTO

MATT McCOLLISTERVice President, Economic Development150 South Front ST, Suite 200Columbus, OH 43215

Phone: (614)225.6953Email: mm@columbusregion.com

COLUMBUS ECONOMIC MARKET

D

L

M

I

K

HJF

A

N

O

E

B C

G

FORTUNE 1000 HEADQUARTERS

A – Scotts Miracle-Gro Co.B – PacerC – Cardinal HealthD – Worthington IndustriesE – Mettler-Toledo International, Inc.F – Big LotsG – Huntington BancsharesH – Hexion Specialty Chemicals/Momentive Performance Materials

I – Bob Evans Farms J – Retail Ventures Inc.K – American Electric PowerL – NationwideM – Limited BrandsN – Abercrombie & FitchO – Greif

Market HighlightsMarket Highlights

This confidential Offering memorandum has been prepared by The Robert Weiler Company for use by a limited number of parties whose sole purpose is to evaluate the possible purchase of the subject property. This Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.

The information contained in the Memorandum has been obtained from sources we believe to be reliable. While we do not doubt its accuracy, we have not verified it and make no guaran-tee, warranty, or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used, are for example only, and do not represent the current or future performance of the property. The val-ue of this transaction to you depends on taxes and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, indepen-dent investigation of the property for your needs. All potential buyers must take appropriate measures to verify all the information set forth herein. Both The Robert Weiler company and the Owner disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. The contained information is subject to change at any time and without notice. The recipient of the Memorandum shall not look to the Owner or The Robert Weiler Company for the accuracy of completeness of the Memorandum.

A prospective purchaser must make its own independent investigations, projections, and con-clusions regarding the acquisition of the property without reliance on this Memorandum or any other Confidential information, written or verbal, from the Broker or the Seller. The Owner expressly reserves the right, at its sole discretion, to reject any offer to purchase the property or to terminate any negotiations with any party, at any time, with or without written notice. Only a fully executed Real Estate Purchase Agreement, approved by Seller, shall bind the prop-erty. Each prospective purchaser and /or broker proceeds at its own risk.

Offering MemorandumOffering Memorandum