Senator by Jordan.Dickman

222 SENATOR

EXCLUSIVITY LISTED BY JORDAN DICKMAN

First Vice President of Investments 513-878-7735 jordan.dickman@marcusmillichap.com

NICK ANDREWS

First Vice President of Investments 513-878-7741 nick.andrews@marcusmillichap.com

CONFIDENTIALITY & DISCLAIMER The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and it should not be made available to any other person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Marcus & Millichap. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. Marcus & Millichap has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT ANDREWS | DICKMAN FOR MORE DETAILS.

SITE PLAN 1: 222 SENATOR

222 SENATOR

Address

222 Senator Place

Neighborhood

Clifton Gaslight

Year Built

1968

Number Of Units

Total SF

46,345 SF

AMENITIES • 24Hr Maintenance • Community Laundry • Courtyard • Electronic Payments • Secure Entry • Community Patio

• Hardwood Floors • Carpeting • Ceiling Fans • Storage Available • Window Coverings • Private Balcony/Patio

* Every Amenity May Not Apply to Every Unit

222 SENATOR

UNIX MIX One Bedroom

Unit Type 1BR/1BA - LL 1BR/1BA - LL REN 1BR/1BA - UL Totals / Wtd. Averages Two Bedroom Unit Type 2BR/1BA - LL - Senator 2BR/1BA - LL NO - Senator 2BR/1BA - UL - Senator Totals / Wtd. Averages Three Bedroom Unit Type 3BR/1BA - Senator 3BR/1.5BA - Senator Totals / Wtd. Averages

ADG MULTIFAMILY

No. of Units

Rentable SF

36 Units

550 SF

4 Units 2 Units 30 Units

550 SF 550 SF 550 SF

No. of Units

Rentable SF

33 Units

700 SF

8 Units 1 Units 24 Units

No. of Units 1 Units 3 Units 4 Units

700 SF 700 SF 700 SF

Total SF

2,200 SF 1,100 SF 16,500 SF 6,600 SF

Total SF

5,600 SF 700 SF 16,800 SF 23,100 SF

Rentable Total SF SF 1,000 SF 1,000 SF 815 SF 2,445 SF 861 SF 3,445 SF

2020/21 2021/22 Avg. Effective Avg. Effective Total Effective Market Rent/Unit Rent/SF Rent Potential Rent/Unit

$713.99 $767.05 $751.13 $744.06

$1.30 SF $1.39 SF $1.37 SF $1.35 SF

$2,856 $1,534 $22,534 $8,975

$713.99 $767.05 $751.13 $744.06

2020/21 Avg. Effective Avg. Effective Total Effective Market Rent/Unit Rent/SF Rent Potential Rent/Unit

$985.68 $985.68 $1,013.27 $2,984

$1.41 SF $1.41 SF $1.45 SF $1.42 SF

$7,885 $986 $24,318 $11,063

Market Total Market Projected Avg. Projected Rent Rent/SF Rent Potential Rent/Unit Rent/SF Potential

$1.30 SF $1.39 SF $1.37 SF $1.35 SF

$8,975

$742.55 $797.73 $781.18 $773.82

$1.35 SF $1.45 SF $1.42 SF $1.41 SF

$2,970 $1,595 $23,435 $9,334

Market Total Market Projected Avg. Projected Rent Rent/SF Rent Potential Rent/Unit Rent/SF Potential

$985.68 $1.41 SF $985.68 $1.41 SF $1,013.27 $1.45 SF $994.88

$2,856 $1,534 $22,534

$1.42 SF

$7,885 $986 $24,318 $11,063

2020/21 Avg. Effective Avg. Effective Total Effective Market Market Total Market Rent/Unit Rent/SF Rent Potential Rent/Unit Rent/SF Rent Potential $1,477.81 $1.48 SF $1,478 $1,477.81 $1.48 SF $1,478 $1,369.57 $1.68 SF $4,109 $1,369.57 $1.68 SF $4,109 $1,396.63 $1.62 SF $5,587 $1,396.63 $1.62 SF $5,587

$1,064.53 $1,064.53 $1,094.33 $1,074.47

$1.52 SF $1.52 SF $1.56 SF $1.53 SF

$8,516 $1,065 $26,264 $11,948

Projected Avg. Projected Rent Rent/Unit Rent/SF Potential $1,477.81 $1.48 SF $1,478 $1,369.57 $1.68 SF $4,109 $1,396.63 $1.62 SF $5,587

222 SENATOR PERSPECTIVE 10 - unit mix 12 - income & expenses

01 section

SENATOR - UNIT MIX SUMMARY Breakdown

MARKET

AVERAGE EFFECTIVE Total Rent

PROJECTED

Summary

No. of

Rentable

Total

Total Rent

Unit Type

Units

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

One Bedroom

36 Units

550 SF

19,800 SF

$747.89

$1.36

$26,924

$747.89

$1.36 SF

$26,924

$777.80

$1.41 SF

$28,001

Two Bedroom

33 Units

700 SF

23,100 SF

$1,005.75

$1.44

$33,190

$1,005.75

$1.44 SF

$33,190

$1,086.21

$1.55 SF

$35,845

Three Bedroom

4 Units

861 SF

3,445 SF

$1,396.63

$1.62

$5,587

$1,396.63

$1.62 SF

$5,587

$1,396.63

$1.62 SF

$5,587

Totals / Wtd. Averages

73 Units

635 SF

46,345 SF

$900.00

$1.42 SF

$65,700

$900.00

$1.42 SF

$65,700

$951.13

$1.50 SF

$69,432

ADG MULTIFAMILY

SENATOR BREAKDOWN Breakdown

MARKET

AVERAGE EFFECTIVE Total Rent

PROJECTED

One Bedroom

No. of

Rentable

Total

Total Rent

Unit Type

Units

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

1BR/1BA - LL - Senator

4 Units

550 SF

2,200 SF

$713.99

$1.30 SF

$2,856

$713.99

$1.30 SF

$2,856

$742.55

$1.35 SF

$2,970

1BR/1BA - LL REN - Senator

2 Units

550 SF

1,100 SF

$767.05

$1.39 SF

$1,534

$767.05

$1.39 SF

$1,534

$797.73

$1.45 SF

$1,595

1BR/1BA - UL - Senator

30 Units

550 SF

16,500 SF

$751.13

$1.37 SF

$22,534

$751.13

$1.37 SF

$22,534

$781.18

$1.42 SF

$23,435

Totals / Wtd. Averages

36 Units

550 SF

19,800 SF

$747.89

$1.36 SF

$26,924

$747.89

$1.36 SF

$26,924

$777.80

$1.41 SF

$28,001

Two Bedroom

No. of

Rentable

Total

Unit Type

Units

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

2BR/1BA - LL - Senator

8 Units

700 SF

5,600 SF

$985.68

$1.41 SF

$7,885

$985.68

$1.41 SF

$7,885

$1,064.53

$1.52 SF

$8,516

2BR/1BA - LL NO - Senator

1 Units

700 SF

$985.68

$1.41 SF

$986

$985.68

$1.41 SF

$986

$1,064.53

$1.52 SF

$1,065

2BR/1BA - UL - Senator

24 Units

700 SF

16,800 SF

$1,013.27

$1.45 SF

$24,318

$1,013.27

$1.45 SF

$24,318

$1,094.33

$1.56 SF

$26,264

Totals / Wtd. Averages

33 Units

700 SF

23,100 SF

$1,005.75

$1.44 SF

$33,190

$1,005.75

$1.44 SF

$33,190

$1,086.21

$1.55 SF

$35,845

Three Bedroom

No. of

Rentable

Total

Unit Type

Units

Rent/Unit

Rent/SF

Potential

3BR/1BA - Senator

1 Units

1,000 SF

$1,477.81

$1.48 SF

$1,478

$1,477.81

3BR/1.5BA - Senator

3 Units

815 SF

2,445 SF

$1,369.57

$1.68 SF

$4,109

Totals / Wtd. Averages

4 Units

861 SF

3,445 SF

$1,396.63

$1.62 SF

$5,587

Total Rent

Total Rent Rent/Unit Rent/SF

Total Rent

Total Rent Rent/Unit Rent/SF

Total Rent

Potential

Rent/Unit

Rent/SF

Potential

$1.48 SF

$1,478

$1,477.81

$1.48 SF

$1,478

$1,369.57

$1.68 SF

$4,109

$1,369.57

$1.68 SF

$4,109

$1,396.63

$1.62 SF

$5,587

$1,396.63

$1.62 SF

$5,587

ADG MULTIFAMILY

Year 1

(Rent Roll/T12 Income; Adjusted Trailing Expenses) GROSS POTENTIAL RENT All Units at Market Rent Gain (Loss) to Lease GROSS SCHEDULED RENT Total Other Income

INCOME

GROSS POTENTIAL INCOME Physical Vacancy Bad Debt EFFECTIVE GROSS INCOME

EXPENSES

FINANCIAL BREAKDOWN

Current

Non-Controllable Real Estate Taxes 2020 Taxes Paid Adjustment for Sale Total Real Estate Taxes Insurance

% of GPR

$769,279 $0

0.00%

$769,279 $202,849

26.37%

$972,128

(Recapture LTL, Stabilized Occupancy and Other Income, Normalized Expenses, Start Reno)

Per Unit

% of GPR

10,538

$833,186

($16,664)

10,538

$816,523

2,779

$219,700

Per Unit

11,414 2.00%

(228) 11,185

26.91%

3,010

13,317

$1,036,223

0.00%

($40,826)

5.00%

0.00%

($16,330)

2.00%

(224)

$972,128

100.00%

13,317

$979,066

91.00%

13,412

% of EGI

Per Unit

% of EGI

Per Unit 1,083

$79,027

Auditor

14,195 (559)

8.13%

1,083

$79,027

8.07%

0.00%

$79,027

8.13%

1,083

$79,027

8.07%

1,083

$24,278

T12

2.50%

333

$21,900

2.24%

300

$37,903

T12

3.90%

519

$38,661

3.95%

530

$15,867

T12

1.63%

217

$16,184

1.65%

222

$41,587

T12

4.28%

570

$42,419

4.33%

581

$3,011

T12

0.31%

$3,071

0.31%

$98,368

10.12%

1,348

$100,335

10.25%

1,374

$201,673

20.75%

2,763

$201,262

20.56%

2,757 25

Utilities

Electric Gas Water & Sewage Trash Removal

Total Utilities Total Non-Controllable Controllable Security Expense Snow Removal Landscaping/Grounds Pest Control Total Contract Services Repairs & Maintenance Marketing & Promotion Payroll - Admin Payroll - Contract Payroll Taxes & Benefits General & Administrative Management Fee Telephone & Cable Replacement & Reserves Total Controllable TOTAL EXPENSES NET OPERATING INCOME

$18

T12

0.00%

$1,825

0.19%

$2,590

T12

0.27%

$2,555

0.26%

$6,809

T12

0.70%

$7,300

0.75%

100

$11,101

T12

1.14%

152

$2,555

0.26%

2.11%

281

$14,235

1.45%

195

2.47%

330

$40,150

4.10%

550

0.00%

$5,475

0.56%

$20,518 $24,054

T12

$0 $78,306

T12

8.06%

1,073

$65,700

6.71%

900

$39,586

T12

4.07%

542

0.00%

$10,950

1.12%

150

$6,704

$0 T12

0.69%

$10,950

1.12%

150

$48,342

T12

4.97%

662

$48,953

5.00%

671

$30,056

T12

3.09%

412

$2,555

0.26%

$18,615

Note 1

1.91%

255

$18,987

1.94%

260

$266,181

27.38%

3,646

$217,956

22.26%

2,986

$467,854

48.13%

6,409

$419,218

42.82%

5,743

$504,274

51.87%

6,908

$559,848

57.18%

7,669

Year 2

Year 3

(...Stabilized Occupancy, Finish Reno on Remaining Units)

(Projected Rent Increase after Stabilization, Reno)

% of GPR

$858,182 ($17,164)

2.00%

$841,018 $226,291

26.91%

$1,067,310

Per Unit

% of GPR

11,756

$883,928

(235)

($17,679)

11,521

$866,249

3,100

$233,080

Per Unit

12,109 2.00%

(242) 11,866

26.91%

3,193

14,621

$1,099,329

($42,051)

5.00%

(576)

($43,312)

5.00%

($16,820)

2.00%

(230)

($17,325)

2.00%

(237)

$1,008,438

91.00%

13,814

$1,038,691

91.00%

14,229

% of EGI

Per Unit

% of EGI

Per Unit

$79,027

7.84%

1,083

$79,027

7.84%

1,083

0.00%

$79,027

7.84%

1,083

$79,027

7.84%

1,083

$22,338

2.22%

306

$22,785

2.26%

312

$39,434

3.91%

540

$40,223

3.99%

551

$16,508

1.64%

226

$16,838

1.67%

231

$43,267

4.29%

593

$44,132

4.38%

605

$3,133

0.31%

$3,195

0.32%

$102,342

10.15%

1,402

$104,389

10.35%

1,430

$203,707

20.20%

2,791

$206,201

20.45%

2,825

$1,862

0.18%

$1,899

0.19%

$2,606

0.26%

$2,658

0.26%

$7,446

0.74%

102

$7,595

0.75%

104

15,059 (593)

$2,606

0.26%

$2,658

0.26%

$14,520

1.44%

199

$14,810

1.47%

203

$40,953

4.06%

561

$41,772

4.14%

572

$5,585

0.55%

$5,696

0.56%

$67,014

6.65%

918

$68,354

6.78%

936

0.00%

$11,169

1.11%

153

$11,392

1.13%

156

$11,169

1.11%

153

$11,392

1.13%

156

$50,422

5.00%

691

$51,935

5.00%

691

$2,606

0.26%

$2,658

0.26%

$19,367

1.92%

265

$19,754

1.96%

271

$222,804

22.09%

3,052

$227,765

22.44%

3,099

$426,511

42.29%

5,843

$433,965

43.03%

5,945

$581,927

57.71%

7,972

$604,726

59.97%

8,284

BEARCAT PORTFOLIO PERSPECTIVE 16 - portfolio description 18 - unit mix 20 - income & expenses

02 section

ADG MULTIFAMILY

PORTFOLIO DESCRIPTION SITE DESCRIPTION

OFFERING SUMMARY Offered County Market Submarket Total Building Sf Average Year Built Ownership Type

7 Property Portfolio Hamilton Cincinnati Clifton/CUF 126,520 1963 Fee Simple

Total Number Of Units Total Number Of Beds Total SF Average Year Built Building Class Total Number Of Stories Total Number Of Buildings Garage Parking Washer/Dryer

203 298 126,520 1963 C Varies 7 Buildings Varies Varies

MECHANICAL HVAC

Varies

UTILITIES Water Trash Gas Electric

Owner Paid Owner Paid Owner Paid Tenant Paid

CONSTRUCTION

CINCINNATI AREA DEMOGRAPHICS POPULATION - 300,000+ RENTER POPULATION - 59.6% AVERAGE COMMUT TIME TO WORK - 25 Minutes

Foundation Framing Exterior Parking Roof Style

Concrete Wood Brick Varies Varies Varies

FULL PORTFOLIO UNIT MIX BREAKDOWN STUDIO, ONE & THREE BEDROOM Breakdown

MARKET

AVERAGE EFFECTIVE

Studio

Rentable

Total

Unit Type

Units

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

1 Units

400 SF

$755.00

$1.89 SF

$755

$770.00

$1.93 SF

$770

$800.80

$2.00 SF

$801

0BR/1BA - Deckebach

1 Units

425 SF

$660.00

$1.55 SF

$660

$660.00

$1.55 SF

$660

$686.40

$1.62 SF

$686

Totals / Wtd. Averages

2 Units

413 SF

825 SF

$707.50

$1.72 SF

$1,415

$715.00

$1.73 SF

$1,430

$743.60

$1.80 SF

$1,487

One Bedroom

No. of

Rentable

Total

Unit Type

Units

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

1BR/1BA - LL - 3336 Jefferson

2 Units

570 SF

1,140 SF

$799.00

$1.40 SF

$1,598

$799.00

$1.40 SF

$1,598

$846.94

$1.49 SF

$1,694

1BR/1BA - UL - 3336 Jefferson

8 Units

570 SF

4,560 SF

$828.50

$1.45 SF

$6,628

$825.00

$1.45 SF

$6,600

$874.50

$1.53 SF

$6,996

1BR/1BA - LL - 3426 Telford

5 Units

400 SF

2,000 SF

$695.00

$1.74 SF

$3,475

$710.00

$1.78 SF

$3,550

$752.60

$1.88 SF

$3,763

1BR/1BA - UL - 3426 Telford

12 Units

400 SF

4,800 SF

$760.00

$1.90 SF

$9,120

$775.00

$1.94 SF

$9,300

$821.50

$2.05 SF

$9,858

1BR/1BA - LL - 3505 Telford

1 Units

450 SF

$750.00

$1.67 SF

$750

$799.00

$1.78 SF

$799

$846.94

$1.88 SF

$847

1BR/1BA - UL - 3505 Telford

2 Units

450 SF

900 SF

$807.50

$1.79 SF

$1,615

$810.00

$1.80 SF

$1,620

$858.60

$1.91 SF

$1,717

1BR/1BA - LL - Deckebach

12 Units

605 SF

7,260 SF

$699.00

$1.16 SF

$8,388

$699.00

$1.16 SF

$8,388

$740.94

$1.22 SF

$8,891

1BR/1BA - UL - Deckebach

32 Units

605 SF

19,360 SF

$725.00

$1.20 SF

$23,200

$725.00

$1.20 SF

$23,200

$768.50

$1.27 SF

$24,592

1BR/1BA - LL - Senator

4 Units

550 SF

2,200 SF

$713.99

$1.30 SF

$2,856

$713.99

$1.30 SF

$2,856

$756.83

$1.38 SF

$3,027

1BR/1BA - LL REN - Senator

2 Units

550 SF

1,100 SF

$767.05

$1.39 SF

$1,534

$767.05

$1.39 SF

$1,534

$813.07

$1.48 SF

$1,626

1BR/1BA - UL - Senator

30 Units

550 SF

16,500 SF

$751.13

$1.37 SF

$22,534

$751.13

$1.37 SF

$22,534

$796.20

$1.45 SF

$23,886

Totals / Wtd. Averages

110 Units

548 SF

60,270 SF

$742.71

$1.36 SF

$81,698

$745.26

$1.36 SF

$81,979

$789.98

$1.44 SF

$86,898

Three Bedroom

No. of

Rentable

Total

Unit Type

Units

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

3BR/1BA - Senator

1 Units

1,000 SF

$1,477.81

$1.48 SF

$1,478

$1,477.81

$1.48 SF

$1,478

$1,566.48

$1.57 SF

$1,566

3BR/1.5BA - Senator

3 Units

815 SF

2,445 SF

$1,369.57

$1.68 SF

$4,109

$1,369.57

$1.68 SF

$4,109

$1,451.74

$1.78 SF

$4,355

Totals / Wtd. Averages

4 Units

861 SF

3,445 SF

$1,396.63

$1.62 SF

$5,587

$1,396.63

$1.62 SF

$5,587

$1,480.43

$1.72 SF

$5,922

0BR/1BA - Bryant

ADG MULTIFAMILY

Total Rent

PROJECTED

No. of

Total Rent

FULL PORTFOLIO UNIT MIX BREAKDOWN - TWO BEDROOM Two Bedroom

MARKET

AVERAGE EFFECTIVE Total Rent

PROJECTED

Retail

No. of

Rentable

Total

Total Rent

Unit Type

Units

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

Rent/Unit

Rent/SF

Potential

2BR/1BA - ALL - 3305 Jefferson

2 Units

650 SF

1,300 SF

$899.00

$1.38 SF

$1,798

$999.00

$1.54 SF

$1,998

$1,098.90

$1.69 SF

$2,198

2BR/1BA - AUL - 3305 Jefferson

4 Units

650 SF

2,600 SF

$971.75

$1.50 SF

$3,887

$1,025.00 $1.58 SF

$4,100

$1,127.50

$1.73 SF

$4,510

2BR/1BA - BLL - 3305 Jefferson

4 Units

650 SF

2,600 SF

$1,041.00

$1.60 SF

$4,164

$1.54 SF

$3,996

$1,098.90

$1.69 SF

$4,396

2BR/1BA - BUL - 3305 Jefferson

8 Units

650 SF

5,200 SF

$1,030.88

$1.59 SF

$8,247

$1,025.00 $1.58 SF

$8,200

$1,127.50

$1.73 SF

$9,020

2BR/1BA - ALL - 3336 Jefferson

2 Units

740 SF

1,480 SF

$899.00

$1.21 SF

$1,798

$1.35 SF

$1,998

$1,098.90

$1.49 SF

$2,198

2BR/1BA - AUL - 3336 Jefferson

4 Units

740 SF

2,960 SF

$1,024.50

$1.38 SF

$4,098

$1,025.00 $1.39 SF

$4,100

$1,127.50

$1.52 SF

$4,510

2BR/1BA - BLL - 3336 Jefferson

2 Units

815 SF

1,630 SF

$1,047.00

$1.28 SF

$2,094

$1.23 SF

$1,998

$1,098.90

$1.35 SF

$2,198

2BR/1BA - BUL - 3336 Jefferson

4 Units

815 SF

3,260 SF

$979.25

$1.20 SF

$3,917

$1,025.00 $1.26 SF

$4,100

$1,127.50

$1.38 SF

$4,510

2BR/1BA - LL - 3505 Telford

2 Units

675 SF

1,350 SF

$1,080.00

$1.60 SF

$2,160

$1,110.00 $1.64 SF

$2,220

$1,221.00

$1.81 SF

$2,442

2BR/1BA - UL - 3505 Telford

4 Units

675 SF

2,700 SF

$1,098.75

$1.63 SF

$4,395

$1,135.00 $1.68 SF

$4,540

$1,248.50

$1.85 SF

$4,994

2BR/1BA - LL - Deckebach

4 Units

775 SF

3,100 SF

$950.00

$1.23 SF

$3,800

$950.00

$1.23 SF

$3,800

$1,045.00

$1.35 SF

$4,180

2BR/1BA - UL - Deckebach

8 Units

775 SF

6,200 SF

$999.00

$1.29 SF

$7,992

$999.00

$1.29 SF

$7,992

$1,098.90

$1.42 SF

$8,791

2BR/1BA - LL - Senator

8 Units

700 SF

5,600 SF

$985.68

$1.41 SF

$7,885

$985.68

$1.41 SF

$7,885

$1,084.25

$1.55 SF

$8,674

2BR/1BA - LL NO - Senator

1 Units

700 SF

$985.68

$1.41 SF

$986

$985.68

$1.41 SF

$986

$1,084.25

$1.55 SF

$1,084

2BR/1BA - UL - Senator

24 Units

700 SF

16,800 SF

$1,013.27

$1.45 SF

$24,318

$1,013.27 $1.45 SF

$24,318

$1,114.60

$1.59 SF

$26,750

2BR/1BA - Bryant Totals / Wtd. Averages

6 Units 87 Units

750 SF 712 SF

4,500 SF 61,980 SF

$1,082.43 $1,011.89

$1.44 SF $1.42 SF

$6,495 $88,034

$1,275.00 $1.70 SF $1,033.12 $1.45 SF

$7,650 $89,882

$1,402.50 $1,136.43

$1.87 SF $1.60 SF

$8,415 $98,870

$999.00 $999.00 $999.00

Total Rent

ADG MULTIFAMILY

GROSS POTENTIAL RENT All Units at Market Rent Gain (Loss) to Lease GROSS SCHEDULED RENT Other Income Utility (heat & water) Chargeback Income Gas & Electric Charge Back Income Total Other Income

INCOME INCOME

GROSS POTENTIAL INCOME Physical Vacancy Concessions Allowance EFFECTIVE GROSS INCOME

EXPENSES EXPENSES

FINANCIAL BREAKDOWN

Current 2020/2021 Income and Expenses

Non-Controllable Real Estate Taxes 2020 Taxes Paid Adjustment for Sale Total Real Estate Taxes Insurance

% of GPR

$2,138,064

($63,084) RR

$147,700

$98,911

$487,056

Per Unit

10,532 2.95%

$2,074,980

Year 1 2021/2022

7.12%

% of GPR

$2,146,525

(311)

($42,930)

10,222

$2,103,594

728

$148,284

Per Unit

10,574 2.00%

(211) 10,363

7.05%

730

4.77%

487

$99,303

4.72%

489

23.47%

2,399

$488,983

23.25%

2,409

$2,562,036

12,621

$2,592,578

($21,000)

1.01%

(103)

($105,180)

($4,578)

0.22%

(23)

($21,036)

1.00%

(104)

95.82%

12,495

$2,466,362

92.00%

12,150

% of EGI

Per Unit

% of EGI

Per Unit

8.23%

1,029

$208,838

8.47%

1,029

0.00%

$208,838

8.23%

1,029

$208,838

8.47%

1,029

$2,536,458

$208,838

Auditor

12,771 Note 2

5.00%

(518)

$63,357

T12

2.50%

312

$60,900

2.47%

300

$94,071

T12

3.71%

463

$95,952

3.89%

473

$2,088

T12

0.08%

$2,130

0.09%

$34,795

T12

1.37%

171

$35,491

1.44%

175

$127,179

T12

5.01%

626

$129,723

5.26%

639

$13,655

T12

0.54%

$13,928

0.56%

Utilities

Electric Electric Vacant Gas Water & Sewage Trash Removal

Total Utilities Total Non-Controllable Controllable Total Contract Services

$271,788

10.72%

1,339

$277,224

11.24%

1,366

$543,983

21.45%

2,680

$546,961

22.18%

2,694

$56,929

2.24%

280

$51,765

2.10%

255

Repairs & Maintenance Marketing & Promotion

$74,130

T12

2.92%

365

$111,650

4.53%

550

$3,621

T12

0.14%

$10,150

0.41%

Payroll - Admin Payroll - Contract Payroll Taxes & Benefits General & Administrative Management Fee Telephone & Cable Replacement & Reserves Total Controllable

$233,738

T12

9.22%

1,151

$182,700

7.41%

900

$132,655

T12

5.23%

653

0.00%

$30,450

1.23%

150

TOTAL EXPENSES NET OPERATING INCOME

Note 5

0 Note 6

$30,932

T12

1.22%

152

$30,450

1.23%

150

$148,854

T12

5.87%

733

$123,318

5.00%

607

$58,460

T12

2.30%

288

$60,900

2.47%

300

$51,765

Note 7

2.04%

255

$52,800

2.14%

260

$791,084

31.19%

3,897

$654,183

26.52%

3,223

$1,335,067

52.64%

6,577

$1,201,145

48.70%

5,917

$1,201,391

47.36%

5,918

$1,265,217

51.30%

6,233

Year 2 2022/2023 % of GPR

$2,318,116

Year 3 2023/2024 Per Unit

11,419

($46,362)

2.00%

$2,271,754 $155,699

6.85%

% of GPR

$2,434,022

(228)

($48,680)

11,191

$2,385,342

767

$163,484

Per Unit

11,990 2.00%

(240) 11,750

6.85%

805

$104,268

4.59%

514

$109,481

4.59%

539

$513,246

22.59%

2,528

$538,723

22.58%

2,654

$2,785,001

13,719

$2,924,065

5.00%

(560)

($119,267)

($22,718)

1.00%

(112)

($23,853)

1.00%

(118)

$2,648,695

92.00%

13,048

$2,780,944

92.00%

13,699

($113,588)

Note 2

14,404 Note 2

5.00%

(588)

% of EGI

Per Unit

% of EGI

Per Unit

$208,838

7.88%

1,029

$208,838

7.88%

1,029

0.00%

$208,838

7.88%

1,029

$208,838

7.88%

1,029

$62,118

2.35%

306

$63,360

2.39%

312

$97,871

3.70%

482

$99,829

3.77%

492

$2,172

0.08%

$2,216

0.08%

$36,201

1.37%

178

$36,925

1.39%

182

$132,317

5.00%

652

$134,963

5.10%

665

$14,207

0.54%

$14,491

0.55%

$282,768

10.68%

1,393

$288,424

10.89%

1,421

$553,724

20.91%

2,728

$560,622

21.17%

2,762

$52,800

1.99%

260

$53,856

2.03%

265

$113,883

4.30%

561

$116,161

4.39%

572

$10,353

0.39%

$10,560

0.40%

$186,354

7.04%

918

$190,081

7.18%

936

0.00%

$31,059

1.17%

153

$31,680

1.20%

156

$31,059

1.17%

153

$31,680

1.20%

156

$132,435

5.00%

652

$139,047

5.00%

652

$62,118

2.35%

306

$63,360

2.39%

312

$53,856

2.03%

265

$54,933

2.07%

271

$673,917

25.44%

3,320

$691,359

25.85%

3,373

$1,227,641

46.35%

6,047

$1,251,981

47.27%

6,167

$1,421,054

53.65%

7,000

$1,528,963

57.73%

7,532