TRYFON CHRISTOFOROU CAMBRIDGE APARTMENTS - 18 UNITS€¦ · Sale Price: $245,000 Number Of Units:...
Transcript of TRYFON CHRISTOFOROU CAMBRIDGE APARTMENTS - 18 UNITS€¦ · Sale Price: $245,000 Number Of Units:...
3CRE Advisors7815 Cooper Rd #C, Cincinnati, OH 45242513.745.9333 | 3cre.com
Presented By:
TRYFON [email protected]
BRIAN [email protected]
MICHAEL [email protected]
731 EAST HIGH STREET , SPRINGFIELD, OH 45505
CAMBRIDGE APARTMENTS - 18 UNITS// MULTIFAMILY PROPERTY FOR SALE
Confidential Offering Memorandum // 2
PROPERTY INFORMATION 3
LOCATION INFORMATION 10
DEMOGRAPHICS 14
ADVISOR BIOS 17
CONFIDENTIALITY & DISCLAIMER CONTENTSAll materials and information received or derived from 3CRE Advisors its directors,officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty as to completeness , veracity, or accuracy, condition of theproperty, compliance or lack of compliance with applicable governmental requirements,developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.
Neither 3CRE Advisors its directors, officers, agents, advisors, or affiliates makes anyrepresentation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information fromany source, whether written or verbal, that may be furnished for review are not asubstitute for a party’s active conduct of its own due diligence to determine these andother matters of significance to such party. 3CRE Advisors will not investigate or verifyany such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUEDILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verifyall information and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financialdata should be verified by the party including by obtaining and reading applicabledocuments and reports and consulting appropriate independent professionals. 3CREAdvisors makes no warranties and/or representations regarding the veracity,completeness, or relevance of any financial data or assumptions. 3CRE Advisors doesnot serve as a financial advisor to any party regarding any proposed transaction. All dataand assumptions regarding financial performance, including that used for financialmodeling purposes, may differ from actual data or performance. Any estimates of marketrents and/or projected rents that may be provided to a party do not necessarily mean thatrents can be established at or increased to that level. Parties must evaluate anyapplicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for theproperty.
Legal questions should be discussed by the party with an attorney. Tax questions shouldbe discussed by the party with a certified public accountant or tax attorney. Titlequestions should be discussed by the party with a title officer or attorney. Questionsregarding the condition of the property and whether the property complies with applicablegovernmental requirements should be discussed by the party with appropriate engineers,architects, contractors, other consultants and governmental agencies. All properties andservices are marketed by 3CRE Advisors in compliance with all applicable fair housingand equal opportunity laws.
// TABLE OF CONTENTS
3CRE Advisors7815 Cooper Rd #C, Cincinnati, OH 45242513.745.9333 | 3cre.com
Presented By:
TRYFON [email protected]
BRIAN [email protected]
MICHAEL [email protected]
CAMBRIDGE APARTMENTS - 18 UNITS - 731 EAST HIGH STREET , SPRINGFIELD, OH 45505
PROPERTY INFORMATION// SECTION 1
Confidential Offering Memorandum PROPERTY INFORMATION // 4
OFFERING SUMMARY
Sale Price: $245,000
Number Of Units: 18
Lot Size: 0.45 Acres
Year Built: 1940
Building Size: 17,031 SF
Zoning: 401 - Multifamily
Market: Dayton
Submarket: Springfield
Price / SF: $14.39
The 3CRE Commercial Real Estate Team is proud to present Development project known as the Cambridge Apartments! Theproperty consists of Eighteen (18) 1BR|1BA Units ready to be rehabbed and finished. The current owner invested in putting a brandnew roof and insulated vinyl windows throughout the building. The building needs electric, plumbing, and all the finishing touches toget these units rent ready. There is also a parking garage under the building that could be used for tenant parking. Once fullyoccupied this Property will be a a Cash Cow!
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• Eighteen (18) 1BR|1BA Units Available for Immediate Rehab
• New Rubber Membrane Roof and Insulated Vinyl Windows Already Installed
• Located Near Downtown Springfield near Major Hospital and Retail
• Parking Garage Available Underneath the building for future tenants.
• Sold "As Is" | "Where is" | Cash Offers Only
// EXECUTIVE SUMMARY
Confidential Offering Memorandum PROPERTY INFORMATION // 5
The 3CRE Commercial Real Estate Team is proud to present Development project known as the CambridgeApartments! The property consists of Eighteen (18) 1BR|1BA Units ready to be rehabbed and finished. The currentowner invested in putting a brand new roof and insulated vinyl windows throughout the building. The buildingneeds electric, plumbing, and all the finishing touches to get these units rent ready. There is also a parking garageunder the building that could be used for tenant parking. Once fully occupied this Property will be a a Cash Cow!
PROPERTY OVERVIEW
This property is located in the Dayton Sub-Market of Springfield, Ohio. Springfield is approximately 45 miles westof Columbus and 25 miles northeast of Dayton. Springfield is home to Wittenberg University, a private, four-yearliberal arts college. This property sits near Interstate I-70 and State Route 40. There is also numerousneighborhood retail centers serve residents’ daily needs including the North Bechtel Plaza, Springfield Plaza,Southern Village Shopping Center, and Circus Shopping Center. This property is walking distance to the maincenter of Springfield, Ohio where numerous apartments and retail businesses are now opening.
LOCATION OVERVIEW
// PROPERTY DESCRIPTION
Confidential Offering Memorandum PROPERTY INFORMATION // 6
// ADDITIONAL PHOTOS
Confidential Offering Memorandum PROPERTY INFORMATION // 7
// ADDITIONAL PHOTOS
731 E HIGH STREET ( 18 Units) - PRO FORMA FINANCIALSBUILDING #1 / UNIT # 1BR/1BA
1 $6002 $6003 $6004 $6005 $6006 $6007 $6008 $6009 $600
10 $60011 $60012 $60013 $60014 $60015 $60016 $60017 $60018 $600
18 UNITS
INCOME OVERVIEW INCOME TOTALS $ PER UNITMONTHLY INCOME $10,800 $600.00TOTAL GROSS INCOME $129,600 $7,200.00VACANCY (5%) -$6,480 -$360.00LAUNDRY INCOME $1,200 $66.67GROSS INCOME $124,320 $6,906.67
EXPENSES YEARLY COST $ PER UNITPROPERTY INSURANCE $4,400 $244.44UTILITIES $15,364 $853.56REPAIRS/MAINTENANCE (5%) $6,480 $360.00Landscaping $838 $46.54TRASH $1,440 $80.00PROPERTY TAXES $7,679.47 $426.64PROPERTY MANAGEMENT (8%) $9,946 $552.53GROSS EXPENSES $46,147 $2,563.71
NET OPERATING INCOME $78,173 $4,342.96
Confidential Offering Memorandum PROPERTY INFORMATION // 9
// FLOOR PLANS
3CRE Advisors7815 Cooper Rd #C, Cincinnati, OH 45242513.745.9333 | 3cre.com
Presented By:
TRYFON [email protected]
BRIAN [email protected]
MICHAEL [email protected]
CAMBRIDGE APARTMENTS - 18 UNITS - 731 EAST HIGH STREET , SPRINGFIELD, OH 45505
LOCATION INFORMATION// SECTION 2
Confidential Offering Memorandum LOCATION INFORMATION // 11
Springfield, OH
// REGIONAL MAP
Confidential Offering Memorandum LOCATION INFORMATION // 12
// LOCATION MAPS
Confidential Offering Memorandum LOCATION INFORMATION // 13
// AERIAL MAPS
3CRE Advisors7815 Cooper Rd #C, Cincinnati, OH 45242513.745.9333 | 3cre.com
Presented By:
TRYFON [email protected]
BRIAN [email protected]
MICHAEL [email protected]
CAMBRIDGE APARTMENTS - 18 UNITS - 731 EAST HIGH STREET , SPRINGFIELD, OH 45505
DEMOGRAPHICS// SECTION 3
Confidential Offering Memorandum DEMOGRAPHICS // 15
POPULATION 1 MILE 3 MILES 5 MILES
Total population 11,570 69,904 98,732
Median age 31.4 34.8 37.9
Median age (Male) 30.8 33.6 36.5
Median age (Female) 32.6 36.8 40.0
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 4,601 26,908 39,466
# of persons per HH 2.5 2.6 2.5
Average HH income $32,957 $42,538 $47,812
Average house value $63,413 $116,130 $129,771
// DEMOGRAPHICS MAP & REPORT
Confidential Offering Memorandum DEMOGRAPHICS // 16
RACE 1 MILE 3 MILES 5 MILES
% White 77.3% 75.2% 80.0%
% Black 17.5% 19.2% 15.2%
% Asian 0.1% 0.4% 0.5%
% Hawaiian 0.4% 0.1% 0.1%
% American Indian 0.2% 0.2% 0.2%
% Other 1.0% 0.8% 0.7%
* Demographic data derived from 2010 US Census
// DEMOGRAPHICS MAP & REPORT
3CRE Advisors7815 Cooper Rd #C, Cincinnati, OH 45242513.745.9333 | 3cre.com
Presented By:
TRYFON [email protected]
BRIAN [email protected]
MICHAEL [email protected]
CAMBRIDGE APARTMENTS - 18 UNITS - 731 EAST HIGH STREET , SPRINGFIELD, OH 45505
ADVISOR BIOS// SECTION 4
Confidential Offering Memorandum ADVISOR BIOS // 18
TRYFON [email protected]: 513.745.9333
PROFESSIONAL BACKGROUND
Tryfon Christoforou is an experienced commercial broker specializing in multifamily real estate and is a partner of 3CRE Advisors. He brings broad experience in commercial real estate tohis work – in addition to multifamily properties, his background includes mortgages, investment, and ownership of investment property.
By leveraging his diverse work experience in real estate to bring every client the best return possible, Tryfon has established himself as a top performer.
Tryfon has built a reputation as a service-oriented broker who is committed to personally guiding his clients through every phase of the real estate transaction process from start to finish.He has built long-term relationships with clients based on collaboration, hard work, an ethical approach, and dedication to a step-by- step method to working with every investor tomaximize results.
Tryfon Co-founded 3CRE Advisors with partner Michael Costantini to bring clients a tailored, knowledgeable approach to forming and successfully executing their commercial real estateinvestment strategy.
3CRE have extensive experience in local and regional Midwest markets and has an advantage in locating investment options on behalf of its clients as well as being able to list theirproperties on a national basis to the entire 100,000-strong brokerage and investment community via real-time syndication to major listing sites, social media, and email campaigns.
Tryfon holds a BSBA, Marketing from University of Cincinnati, Ohio. His affiliations include the National Apartment Association, NAR, OAR, and the Cincinnati and Dayton Board of Realtors.He was born in Melbourne, Australia and is of Greek heritage. He is a passionate world traveler and calls Cincinnati his home.
3CRE ADVISORS7815 Cooper Rd #C
Cincinnati, OH 45242513.745.9333
// ADVISOR BIO 1
Confidential Offering Memorandum ADVISOR BIOS // 19
OH #2018002440
BRIAN COYLE
Advisor
[email protected]: 513.745.9333 | Cell: 203.918.3944
PROFESSIONAL BACKGROUND
Brian Coyle is an advisor with 3CRE who specializes in multifamily assets. His unrivaled hustle, drive, and persistence have made him a pivotal part of a multifamily team responsible forover $100million dollars in sales. However, it’s his dedication and appreciation for customer relations that have made him an indispensable asset to 3CRE at such a young age.
Originally from Darien, Connecticut, he made his way to Cincinnati by way of Xavier University, where he is currently a stellar senior majoring in Marketing and Entrepreneurship. Hisstudies, as well as his life experience (he grew up in a circle of successful East Coast real estate developers) have equipped him with the knowledge and skills to locate, facilitate, and closehigh-value commercial real estate deals with confidence far beyond his years.
His specialties include helping investors with the process of acquiring and selling multifamily investments. When he isn’t at work helping investors close commercial deals, he enjoys,golfing, boating, and fishing on the Gulf Coast.
EDUCATION
Xavier University
MEMBERSHIPS
Ohio Board of RealtorsCommercial Real Estate Council of Greater Cincinnati
3CRE ADVISORS7815 Cooper Rd #C
Cincinnati, OH 45242513.745.9333
// ADVISOR BIO 2