ABIMultifamily.com/portfolio/brick-on-rooseveltFor more information please visit:THE BRICK ON ROOSEVELTTHE BRICK ON ROOSEVELT

1322 WEST ROOSEVELT STREET, PHOENIX, AZ 850071322 WEST ROOSEVELT STREET, PHOENIX, AZ 85007

9-Unit, Garden-Style Community, Built in 1950

Located in Vibrant Downtown Phoenix: Arizona’s #1 Business & Entertainment District

Walking Distance to ASU & U of A Downtown Campuses

Enclosed Courtyard to Give Tenants a Private Oasis

Single-Story, Red Brick Constructed Community, Individually Metered For Electricity

Situated Within The Roosevelt Row Historic District

Offering Price: $939,000 9-Unit Multifamily Community in Phoenix, AZ

ABIMultifamily.com Phoenix Headquarters: 5227 North 7th Street, Phoenix, AZ 85014 Tel: 602.714.1400

PROPERTY OVERVIEW

Price $939,000

Per Unit $104,333

# of Units 9

Avg SF/Unit 550 SF

Built 1950

1

MARKET PRO FORMA

Unit Type Count % Total Size (SF) Rent Rent/SF

1 Bed / 1 Bath 9 100.0 550 $775 $1.41

Totals / Averages 9 100% 550 $775 $1.41

INCOME & EXPENSESIncome Total Per Unit

Gross Scheduled Income $83,700 $9,300

Less: Vacancy / Concessions / Bad Debt / Other (6.5%) ($5,441) ($605)

Net Rental Revenue $78,260 $8,696

Add: Other Income $900 $100

Effective Gross Income $79,160 $8,796

Expenses

Administration $1,125 $125

Management Fees (7.0%) $5,541 $616

Marketing $675 $75

Contract Services $1,575 $175

Repairs & Maintenance $2,151 $239

Turnover $1,575 $175

Utilities $4,779 $531

Insurance $1,800 $200

Real Estate Taxes $3,428 $381

Replacement Reserves $2,700 $300

Total Operating Expenses $25,349 $2,817

Net Operating Income $53,810 $5,979

All information provided in reference to the property has been collected from sources deemed reliable. However, no representations or warranties are made as to the accuracy ofsaid information. In addition, no warranty or representation is extended to errors, omissions, change of price or other conditions. Any projections, estimates, opinions, financial orother assumptions are provided for example purposes and do not represent current or future performance of the property. Please consult with your legal, financial and taxprofessionals to make any determinations regarding whether the property is suitable for your needs and purposes.

OFFERING PRICE: $939,000

TOTAL UNITS: 9

YEAR BUILT: 1950

The Brick on Roosevelt is a 9-unit, value-add multifamily investmentopportunity located in the heart of Downtown Phoenix. This property islocated within the 100+ year-old Roosevelt Row Historic District, one ofthe most popular districts in not only metro Phoenix, but the U.S. Theseapartments are just minutes from some of the Valley’s most coveted artmuseums, restaurants and ASU & U of A’s Downtown campuses. TheBrick has the ability to be repositioned into a highly desired Air B&Bvacation rental.

The Brick on Roosevelt features a unit mix of all one-bedroom /one-bathroom apartments, each measuring 550 square feet. Thisproperty provides privacy in an enclosed courtyard for tenants to usefor relaxation. The Brick stays true to its name with classic red brickconstruction while providing potential to add value through interior andexterior renovations. Ample parking in the back of the apartmentsprovides easy access for tenants. This property is individually meteredfor electricity and gas. One of the nine units is renovated. In addition,the property has one vacant unit available for walk-through.

THE BRICK ON ROOSEVELT1322 WEST ROOSEVELT STREET, PHOENIX, AZ 85007

DALLIN HAMMOND MITCHELL DRAKEAssociate Associate602.714.1794 602.714.1289dallin.hammond@abimultifamily.com mitchell.drake@abimultifamily.com

John Kobierowski Alon Shnitzer Rue Bax Doug Lazovick Eddie Chang

Chuck LaBenz Brad Pickering Nathan Bruer Patrick Burch John Klocek Royce Munroe Ryan Smith

ABI MULTIFAMILY PHOENIX:

For more information please visit:ABIMultifamily.com/portfolio/brick-on-roosevelt

THE BRICK ON ROOSEVELT