tuolumne meadows apartments

COLLIERS INTERNATIONAL301 University Ave, Suite 100Sacramento, CA 95825www.colliers.com

FOR SALE | 48 UNIT APARTMENT COMPLEX

Tuolumne Meadows Apartments9130 TUOLUMNE DRIVE | SACRAMENTO, CA 95826

BRIAN NELSONSenior Vice PresidentLicense # 01009543+1 916 830 [email protected]

Property SummaryUnits 48Yr. Built 1970Metering IndividualParking 52 Open SpacesAverage SF 780Site Acreage 1.81 acresDensity 26.51 (units/acre)Parcel Number 075-0094-011-0000Type of Buildings Two-Story, Garden-StyleSpace Heat Central Air Conditioning Wall UnitsHeaters IndividualRoofs FlatExterior Wood Frame/Stucco

Investment SummaryPrice 2,400,000Price / Unit 50,000Pro Forma Cap Rate 7.10%Pro Forma GRM 6.21Proposed Loan (60% LTV) $1,560,000Down Payment $840,000Interest Rate 4.1%Amortization 30 YearsCash on Cash Return 9.5%Same Owner 14+ Years

2 | Tuolumne Meadows Apartments

Property Overview48 units located along the Highway 50 Corridor in the La Riviera submarket of Sacramento County, 8 miles east of downtown Sacramento and 5 miles from Sacramento State University. Floor plans at Tuolumne Meadows include one and two-bedroom units with amenities such as individual water heaters, dishwashers, garbage disposals, central heat in 2-bedroom units, wall air conditioning, ceiling fans, walk-in closets, window coverings and wall-to-wall floor coverings. Community features include a sparkling swimming pool, on-site laundry facility, ample on-site parking, and a rental office with on-site management.

Location DescriptionTuolumne Meadows is located in the La Riviera submarket of Sacramento County, 2 miles from the incorporated city of Rancho Cordova, 8 miles to Downtown Sacramento and less than 5 miles from Sacramento State University. Public transportation is a short 10-minute walk around the block to Folsom Blvd and nearby employment opportunities are abundant with over 17 large employers (250+ employees) located within a 2 mile radius including: Matheson Freight, Capital Christian Center, Sac County Hwy Maint. & Golden One Credit Union.

Unit Amenities:> Dishwashers

> Garbage Disposals

> Gas Oven/Stove

> Refrigerator

> Central Heat and Wall Air Conditioning

Common Area Amenities> Abundant On-site Parking

> Sparkling Swimming Pool

> On-Site Laundry Facility

> Clean Manicured Grounds

> Ceiling Fans

> Walk-in Closets

> Window Coverings

> Wall-to-Wall Floor Coverings

> Cable or Satellite Ready

> 10-Minute Walk to Bus/Light Rail

> Easy Freeway Access

> 9 minute Drive to CSUS

> 13-minute Drive to Downtown Sacramento


Rent ComparablesComplex Name & Address Year

Built# of Units Bed Bath Unit Sq.

Feet Rent Rent Sq. Feet

Tuolumne Meadows Apartments (subject) 1970 16 1 1 650 $570 $0.88 9130 Tuolumne Drive 32 2 1 850 $660 $0.78 Sacramento, CA Totals/Averages 48 39,200 $615 $0.77 Gold River 1968 20 1 1 650 $595 $0.92 9100 Tuolumne Drive 40 2 1 850 $710 $0.83 Sacramento, CA Totals/Averages 60 47,000 $671 $0.86The Gables 1960 22 1 1 615 $625 $1.02 9000 Casals Street 58 2 1 850 $745 $0.88 Sacramento, CA Totals/Averages 80 62,830 $712 $0.95 Casa Del Sol 1986 27 1 1 650 $573 $0.88 9190 Tuolumne Drive 33 2 1 850 $673 $0.79 Sacramento, CA Totals/Averages 60 45,600 $628 $0.83Cypress Meadows 1967 33 2 1 800 $800 $1.00 9063 Folsom Blvd 34 2 1 900 $825 $1.09 Sacramento, CA 33 2 1 1000 $850 $1.18 Totals/Averages 100 90,000 $825 $1.09 California Center 1974 2 1 1 575 $650 $1.13 2801 Manlove Road 48 1 1 625 $715 $1.14 Sacramento, CA 46 2 1 975 $815 $0.84

8 2 2 1200 $950 $0.79 4 3 2 1300 $1,035 $0.80

Totals/Averages 108 90,800 $786 $0.93 Sandal Tree 1965 14 1 1 650 $545 $1.19 9160 Tuolumne Drive 28 2 1 850 $595 $1.43 Sacramento, CA Totals/Averages 42 32,900 $578 $1.31

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Sale ComparablesComplex Name & Address Sale Date Price Price/Unit # of Units Year BuiltTuolumne Meadows Apartments (subject)

- $2,400,000 $50,000 40 1970 9130 Tuolumne Drive | SacramentoHacienda Gardens

11/28/2011 3,450,000 $53,906 64 1975 2080 W La Loma Drive | Rancho CordovaCollege Oaks

10/13/2011 $1,100,000 $55,000 20 1966 5242 College Oak Drive | SacramentoSpringwood Apartments

8/29/2011 $3,180,000 $53,000 60 - 2340 Hurley Way | SacramentoWalnut Manor Apartments

8/26/2011 $4,177,936 $46,422 90 1973 5050 Walnut AvenueThe Terrace Apartments

3/16/2011 $2,000,000 $45,455 44 1968 7150-7170 Fair Oaks Blvd | CarmichaelThe Redwoods

1/14/2011 $1,850,000 $61,667 30 1980 5300 Laurel Hills Drive | Sacramento

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This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

For More Information, contact the Western Apartment Group:

COLLIERS INTERNATIONAL301 University Avenue, Suite 100Sacramento, CA 95825+1 916 929 5999www.colliers.com/sacramento

BRIAN NELSONSenior Vice PresidentLicense # 01009543+1 916 830 [email protected]

Investment DataOffering Price $2,400,000 Price Per Unit $50,000 Price Per Sq.Ft. $64.10 Stabilized GRM 6.21 Stabilized CAP 7.10%Cash on Cash Return 9.53%Year Built 1970

Estimated Annualized Operating DataStabilized

Scheduled Gross Income 386,760

Less: Vacancy Allowance 5.0% (19,338.00)

Gross Operating Income 367,422

Less Expenses (Expenses as % of Operating Income) 53.60% (196,944)

Net Operating Income 170,478

Less Loan Payment (90,455)

Pre-Tax Cash Flow 80,023

Cash on Cash Return 9.53%

Income Analysis

Type # Units Current Rent Range Est. SF Average Current

RentAverage Current

Income Stabilized

Monthly RentStabilized

Monthly Income1-bd/1-ba 16 $545 - $600 650 570 9,120 595 9,520 2-bd/1-ba 32 $645 - $710 850 660 21,120 695 22,240 Totals 48 37,440 30,240 31,760

Laundry Income 195Other Income 275 275Total Monthly 30,710 32,230

Annualized Operating ExpensesProposed New Taxes 26,784 Insurance 9,360 On & Off-site Mgmt 40,800 Operating (Utilities/Services) 33,600 Repairs & Maint. 43,200 Mktg/Admin/Acctg/Legal 31,200 Reserves & Replacements 12,000 Total: 196,944 Annual Expenses / Unit 4,103.00 Annual Expenses / sq.ft. 5.26

Financing ScenarioPurchase Price 2,400,000 Down Payment 840,000 35%Loan Amount 1,560,000 65%

Debt Service Constant 0.057984

Interest Rate 4.100%

Annual Debt Service 90,455

DCR (Market) 1.88

Data & Analysis

tuolumne meadows apartments

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