Cliff House 513 Pecan Grove Road | Austin, TX 78704 Unit Mix OFFERING SUMMARY

Unit Mix Summary

Total Rentable Effective Effective Total Effective Market Market Total Market Unit Type No. of Units Rentable SF SF Rent/Unit Rent/SF Rent Rent/Unit Rent/SF Rent Potential

E1 - 0BR/1BA 10 450 4,500 $924 $2.05 $9,239 $995 $2.21 $9,950 A1 - 1BR/1.0BA 4 550 2,200 $943 $1.71 $3,770 $1,070 $1.95 $4,280 B1 - 2BR/1.0BA 4 700 2,800 $1,253 $1.79 $5,010 $1,295 $1.85 $5,180 Totals / Wtd. 18 528 9,500 $1,001 $1.90 $18,019 $1,078 $2.04 $19,410 Averages

Rare Opportunity in the Heart of Travis Heights A1 - 1BR/1.0BACliff House is a rare opportunity to purchase one of the last remaining multifamily properties within the heart of the Travis $1,400 22%Heights, one of Austin’s most mature, infill neighborhoods that borders Downtown and South Congress Avenue. Travis$1,295 Heights E1 - 0BR/1BA $1,253 is a highly desirable neighborhood offering 56%a secluded$1,200 community filled with historic mansions set on hillsides shaded by century-old oaks, yet a location that is highly walkable to Austin’s major employment centers and$1,070 entertainment districts – most $995 notably the SoCo District and Downtown. Cliff House$1,000 is one of the$924 last, true multifamily$943 properties in the neighborhood that has not been converted to condominiums. With scarce rental supply in the area, Cliff House boasts historically high occupancies and an opportunity to own rental product in one of Austin’s$800 most desirable neighborhoods.

$600 First Generation Value-Add with Significant Rental Upside Cliff House has been well-maintained by current ownership$400 for over 30 years and offers a prospective purchaser the opportunity to significantly renovate and capture large rental increases demonstrated in the few other multifamily properties in B1 - 2BR/1.0BA $200 22% the neighborhood. Residents enjoy the natural amenities provided by the property’s placement atop a cliff, with views from the

back courtyard overlooking the Blunn Creek Greenbelt. - E1 - 0BR/1BA A1 - 1BR/1.0BA B1 - 2BR/1.0BA Walkability to SoCo and Downtown Austin Effective Rent/Unit Market Rent/Unit Less than half a mile from the heart of the South Congress district, Cliff House offers residents convenient, walkable access to one of Austin’s most popular entertainment districts with top restaurants, bars, shopping and music venues. The property is also located within walking distance to the Butler Hike-and-Bike Trail at Lady Bird Lake, Austin’s most popular trail, which gives easy access to Downtown, Zilker Park, Auditorium Shores, Barton Springs and many more attractions within the city’s core.

35 4 11 2 29

9 35 130 71 19 1 36 6 1-MILE 8 34 3-MILE 5-MILE 37 3 5 290 20 290 30 16 18 15 13 CLIFF HOUSE 290 31 23 32 14 71 12 71 17 183 10 1 28 25 24 7 39

21 71 38 33

AREA MAP

ENTERTAINMENT & MUSEUMS HEALTHCARE SHOPPING PARKS & RECREATION

1 Alamo Drafthouse Cinema South Lamar 11 Arise Austin Medical Center 19 Barton Creek Square 33 Auditorium Shores at Town Lake

2 Austin Nature & Science Center 12 Nova Medical Centers 20 Best Buy 34 Circle C. Ranch Metro Park

3 Broken Spoke 13 St. David's South Austin Medical Center 21 Burlington 35 Barton Creek Wilderness Park

4 Downtown Austin EDUCATION 22 Central Market 36 Town Lake

5 Emo's Austin 14 Austin Community College 23 Costco Wholesale 37 Little Stacy Neighborhood Park

6 Greetings from Austin Mural 15 St. Edward's University 24 H-E-B 38 Roy Kizer Golf Course

7 Regal Metropolitan 16 Texas Health and Science University 25 Lowe's Home Improvement AIRPORTS

8 The Austin Beer Garden Brewing Co. 17 Eden Park Academy 26 Mueller Market District 39 Austin-Bergstrom International Airport

9 Umlauf Sculpture Garden & Museum 18 William B. Travis High School 27 Best Buy

10 Westgate Lanes 28 Sprouts Farmers Market

29 Whole Foods

30 Target

31 The Home Depot

32 Walmart Supercenter

INVESTMENT SALES CAPITAL MARKETS

J.R. ELLIS DANIEL HARTNETT Senior Director Director 512.399.6945 469.453.0194 [email protected] [email protected] TX 609411

Greysteel | 111 Congress Avenue | Suite 400 | Austin, TX 78701 512.985.9444 | www.greysteel.com

Texas License 9003023 Doug Banerjee | TX Designated Broker | License 617101

For more information or to inquire about Greysteel, please contact Ari Firoozabadi, CEO | [email protected] | 202.417.3873 Offices Nationwide | License Information and Online Disclosures Texas Real Estate Commission Information About Brokerage Services | Texas Real Estate Commission Consumer Protection Notice

Greysteel, seller, and their respective representatives make no representations or warranties, express or implied,regarding the accuracy or completeness of the information in this Offering. All references to acreage, square footage, distance, and other measurements are approximations and must be independently verified. Prospective purchasers shall be responsible for performing their own independent due diligence with respect to a possible transaction. This Offering is subject to prior placement, withdrawal, cancellation or modification without notice.