Cleveland Crossing OM

LEGAL DISCLOSURE

The information contained in this marketing brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Commercial Integrity, NW and should not be made available to any other persons or entities without written consent of Commercial Integrity, NW. The information contained herein has been prepared to provide summary, unverified financial and physical information to prospective purchasers to establish a preliminary level of interest in the Subject Property.

THE

INFORMATION CONTAINED HEREIN SHALL NOT BE A SUBSTITUTE FOR A THOROUGH DUE DILIGENCE INVESTIGATION.

Commercial Integrity, NW has not made any investigation, and makes no warranty or representation with respect to the income or expense for the Subject Property, the future projected financial performance of the Subject Property, the size or square footage and improvements, the presence or 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 plan or intentions to continue to occupy the Subject Property. The information contained herein has been obtained from sources we believe to be reliable; however, Commercial Integrity, NW has not verified and will not verify, any of the information contained herein, nor has Commercial Integrity, NW conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential purchasers must take appropriate measures to verify all of the information set forth herein.

THE SYNOPSIS

CLEVELAND CROSSING APARTMENTS

$9,650,000

$229,762/UNIT

6.0% CAP

CLEVELAND CROSSING APARTMENTS

1430 EAST CLEVELAND STREET, WOODBURN, OR

$9,650,000

$229,762

$267 6.0%

Amenities include Air Conditioning, Electric Cadet Heat, In-Unit Washer/Dryer, Patios with Storage, Onsite Leasing Office, Electric Vehicle Charging, Covered Parking

RENT ROLL

UNIT MIX COMPARISON

PRICING

FOOTNOTE SUMMARY

1. Misc. Income; RUBs: July - December 2024 Actuals Annualized

2. Property Taxes: $72,000 approximate estimate based on recent appraisal and discussions with county assessor/ownership

3. Property Insurance: $575/unit estimate, based on expense comps for newer construction properties

4. Property Management: 3.5% off-site management fee estimate, typical market standards are 3.5% - 4.0%

5. Payroll/On-site Costs: Estimate to cover part-time manager & maintenance salaries, benefits, etc.

6. Repair/Maint: 4.0% estimate to cover parts/supplies related to miscellaneous repairs/maintenance (exterior & interior work)

7. Utilities: July - November 2024 annualized

8. Turnover: Estimate based on 50% turnover at $500/unit, covers “make ready” expenses such as cleaning, painting, window coverings, etc.

9. Landscaping: Consistent with actuals, current contract $495/month

10. General/Admin: July - December 2024 annualized

11. Advertising/Promotion: $500/month estimate, historical considered below market

12. Reserves/Replacements: $250/unit estimate, typical lender underwriting standards

FLOOR PLAN 1

Unit Amenities:

- Full size washer/dryer

- Air conditioning

- Deck/patio with storage

- High end finishes

- LVT Flooring

- Stainless steel appliances

- Carports (one space/unit)

FLOOR PLAN 2

Unit Amenities:

- Full size washer/dryer

- Air conditioning

- Deck/patio with storage

- High end finishes

- LVT Flooring

- Stainless steel appliances

- Carports (one space/unit)

SALES COMPARABLE

Grant Crossing @ 3rd 4

21759 SW Cedar Brook Way, Sherwood, OR

Bell Tower 3

Sequoia Grove 4

Verda Crossing 5

Dahlia

AREA HIGHLIGHTS

$409.2M $595M CONSUMER SPENDING

E CLEVELAND STREET – 3,587 VPD S PACIFIC HWY (OR 99) – 16,397 VPD WILCO HWY NE (OR 214) – 8,279 VPD I 5 – 99,158 VPD

WALKSCORE: 66 (SOMEWHAT WALKABLE) TRANSITSCORE: 18 (MINIMAL TRANSIT) AIRPORT: 12 MINUTE DRIVE TO LENHARDT AIRPARK 1 HOUR DRIVE TO PORTLAND INTERNATIONAL AIRPORT (PDX) SUBJECT PROPERTY