294 unit rental portfolio: single family ......portfolio: single family residential portfolio 294...

SVN | WILSON COMMERCIAL GROUP, LLC | EASTON TOWN CENTER, 4200 REGENT STREET, SUITE 200, COLUMBUS , OH 43219 OFFERING MEMORANDUM

294 UNIT RENTALPORTFOLIO:SINGLE FAMILYRESIDENTIALPORTFOLIO294 UNIT RENTAL PORTFOLIO: SINGLE FAMILYRESIDENTIAL PORTFOLIO (SFRP)LIMA, OH 45801

Kristen AsmanSenior [email protected]

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Presented by:Thane [email protected]

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PROPERTY INFORMATION 3Property SummaryProperty DescriptionComplete HighlightsAdditional Photos

LOCATION INFORMATION 8Regional Map

FINANCIAL ANALYSIS 10Income & ExpensesAdditional Photos

DEMOGRAPHICS 13Demographics ReportDemographics Map

ADVISOR BIOS 16Advisor Bio & Contact 1

OFFERING MEMORANDUM294 UNIT RENTAL PORTFOLIO: SINGLE FAMILY RESIDENTIAL PORTFOLIO | 294 UNIT RENTAL PORTFOLIO: SINGLE FAMILY RESIDENTIAL PORTFOLIO (SFRP), LIMA, OH 45801

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1 PROPERTYINFORMATION

294 Unit Rental Portfolio: Single FamilyResidential Portfolio (SFRP)

Lima, OH 45801

294 UNIT RENTAL PORTFOLIO: SINGLE FAMILY RESIDENTIAL PORTFOLIO | 294 UNIT RENTAL PORTFOLIO: SINGLE FAMILY RESIDENTIAL PORTFOLIO (SFRP) LIMA, OH 45801 SVN | Wilson Commercial Group, LLC |

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OFFERING SUMMARY

Sale Price: $6,990,000

Number Of Units: 294

Cap Rate: 10.0%

NOI: $698,995

Net Operating Income $700,000

Building Size: 294,000 SF

Price / SF: $23.78

294 Units SFRP For Sale with an NOI of approximately $700,000. Single Family Residential Portfolios tap into the newrental market. Renters prefer renting houses to apartments and house renters stay longer than apartment renters. Thisportfolio represents a unique opportunity because the houses are geographically located within a 10 mile radius for easymanagement. The properties are 95% occupied and rents are approximately 35% below market. This is Fully stabilizedC-Class portfolio with management in place.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• $700,000 NOI

• Only $23,775 per Unit

• Rents below market

• Mostly Large 3 bedroom houses

• All located within a 10 mile radius for easy management

• Anticipate approval for New Freddie Mac SFRP loan program

• Pro-Forma NOI $1,000,000

• Management in place

• 5 mile population density of 80,000

Property Summary

294 UNIT RENTAL PORTFOLIO: SINGLE FAMILY RESIDENTIAL PORTFOLIO | 294 UNIT RENTAL PORTFOLIO: SINGLE FAMILY RESIDENTIAL PORTFOLIO (SFRP) LIMA, OH 45801 SVN | Wilson Commercial Group, LLC | All SVN® offices are independently owned and operated.

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294 Units SFRP For Sale with an NOI of approximately $700,000. Single Family ResidentialPortfolios tap into the new rental market. Renters prefer renting houses to apartments andhouse renters stay longer than apartment renters. This portfolio represents a uniqueopportunity because the houses are geographically located within a 10 mile radius for easymanagement. The properties are 95% occupied and rents are approximately 35% belowmarket. This is Fully stabilized C-Class portfolio with management in place.

PROPERTY OVERVIEW

Lima is the county seat of Allen County, Ohio. It is located in northwestern Ohio alongInterstate 75, approximately 72 miles north of Dayton and 78 miles south-southwest ofToledo. According to the 2010 U.S. Census, the Allen County population was 106,331. Lima ishome to the 3 campuses and over 12,000 college students: The University of NorthwesternOhio, James A. Rhodes State College and The Ohio State University, Lima Campus. Limawas ranked top 10 most affordable small cities by CNN Money"

The Lima Field, first discovered in 1885, has been a functioning oil reserve since itsdiscovery and has been under the control of a number of domestic and internationalcompanies. The Lima Army Tank Plant, built in 1941, is the sole producer of M1 Abrams, athird-generation main battle tank produced in the United States. Lima's largest fields ofemployment are energy and healthcare and it is considered a regional medical center. Thecity's two hospitals, St. Rita's Medical Center and Lima Memorial Hospital, serve a 10-county area of northwest and central Ohio and employ approximately 5,500 people. Majoremployers in the Lima area include Ford Motor Co., Lima Engine Plant, General DynamicsLand Systems Division, Roundy's Ohio Division, Dana Corp., Meccorp, Inc., and Meijer, Inc.The Procter & Gamble plant was built in 1968 and the 1.2 million SF distribution center wascompleted in 2006.

LOCATION OVERVIEW

Property Description

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SALE HIGHLIGHTS

• $700,000 NOI

• Only $23,775 per Unit

• Rents below market

• Mostly Large 3 and 4 bedroom houses

• All located within a 10 mile radius for easy management

• Anticipate approval for New Freddie Mac SFRP loan program

• Pro-Forma NOI $1,000,000

• Management in place

• 5 mile population density of 75,000

Complete Highlights

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All Located Within A 10 Mile Radius

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2 LOCATIONINFORMATION


Lima, OH 45801


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294 Unit Rental Portfolio: SingleFamily Residential Portfolio

Regional Map

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3 FINANCIALANALYSIS


Lima, OH 45801


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INCOME SUMMARY 2017 INCOME AND EXPENSE PER SF

Gross Rents $1,215,478 $4.13Misc. Income $131,406 $0.45

Gross Income $1,346,884 $4.58

EXPENSE SUMMARY 2017 INCOME AND EXPENSE PER SF

Advertising $2,999 $0.01Cleaning/Maintenance $95,186 $0.32Insurance $56,499 $0.19Supplies $52,269 $0.18Taxes - Real Estate $159,786 $0.54Utilities $179,051 $0.61Management (7%) $94,282 $0.32Lawncare $6,278 $0.02Misc. $1,539 $0.01

Gross Expenses $647,889 $2.20

Net Operating Income $698,995 $2.38

Income & Expenses

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Lima Rental Trends

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4DEMOGRAPHICS


Lima, OH 45801


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1 MILE 3 MILES 5 MILES

Total population 1,494 16,329 57,916

Median age 41.5 36.9 34.9

Median age (male) 41.3 34.9 31.6

Median age (female) 42.4 39.7 38.0

Total households 270 5,701 22,016

Total persons per HH 5.5 2.9 2.6

Average HH income $42,788 $43,402 $41,654

Average house value $82,583 $74,920

* Demographic data derived from 2010 US Census

Demographics Report

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POPULATION 1 MILE 3 MILES 5 MILES

Total population 1,494 16,329 57,916

Median age 41.5 36.9 34.9

Median age (male) 41.3 34.9 31.6

Median age (Female) 42.4 39.7 38.0

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 270 5,701 22,016

# of persons per HH 5.5 2.9 2.6

Average HH income $42,788 $43,402 $41,654

Average house value $82,583 $74,920

* Demographic data derived from 2010 US Census

Demographics Map

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294 unit rental portfolio: single family ......portfolio: single family residential portfolio 294...

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