24-Unit Community 2 Blocks from Camelback Corridor Offer Solicitation Process

1822 N. 32ND STREET | PHOENIX, AZ | 85008 24-UNIT COMMUNITY 2 BLOCKS FROM CAMELBACK CORRIDOR OFFER SOLICITATION PROCESS

PROPERTY VISITATION Prospective purchasers will have the opportunity to visit the property via pre-scheduled property tours. These tours will include access to a representative sampling of units and access to maintenance and other similar facilities. In order to accommodate the property’s ongoing operations, property visitation will require advance notice and scheduling.

OFFER SUBMISSION Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of Purchasers’ offers including, but not limited to (1) asset pricing, (2) due diligence and closing time frame, (3) earnest money deposit, and (4) qualifications to close. The purchase terms shall require all cash to be paid at closing. Offers should be delivered to the attention of Ryan Ash and Mike Woodrick using the email or fax number information listed below.

CONTACT INFORMATION Ryan Ash Senior Managing Director Tel: 602-852-3784 [email protected]

Mike Woodrick Director Tel: 602-852-3789 [email protected]

ARA - Phoenix 2398 E. Camelback Road Suite 950 Phoenix, Arizona 85016 Tel: 602-252-4232 Fax: 602-252-4236 www.ARAnewmark.com

2 TABLE OF CONTENTS

04 EXECUTIVE SUMMARY

09 VALUATION SUMMARY

13 COMPARABLE SALES

21 PROPERTY OVERVIEW

29 CONTACT

EXECUTIVE SUMMARY

CENTRAL CORRIDOR CAMELBACK CORRIDOR

NORTHWEST AERIAL 4 CAMELBACK MOUNTAIN

NORTHEAST AERIAL 5 TERMS OF THE OFFERING

TOTAL UNITS 24

YEAR BUILT 1981

PRICE $2,350,000

PRICE PER UNIT $97,917

RENTABLE SF 15,200

AVERAGE SF PER UNIT 633

PROFORMA CAP RATE 6.03%

AVERAGE RENT PER UNIT $727

AVERAGE RENT PER SF $1.15 THE OPPORTUNITY INVESTMENT HIGHLIGHTS ARA is pleased to announce the availability of Oberon Place, a 24 unit community located in the East Phoenix submarket. The property has great frontage on 32nd Street and is located just south of Thomas Road. Residents • Located in High Demand East Phoenix enjoy being within close proximity to the Camelback Corridor which provide a large employment center along with Submarket many vibrant restaurant and entertainment options. Furthermore the neighborhoods surrounding Oberon Place have been rejuvenated and seen a transformation with many older homes and apartment communities being renovated • Great Frontage on 32nd Street, Just South of and updated or have been razed and redeveloped into high end townhomes with values over $300,000 and high Thomas end homes with values over $500,000. The demand for housing in this area is stemmed from its close proximity to • 1981 Built, Individually Metered, Stucco the Camelback Corridor and the Live, Work, Play environment that it offers residents. This employment center hosts a Exterior dynamic mix of premier office, high-end retail and hospitality development that serves as a focal point for business and entertainment activity in Phoenix. The Camelback Corridor is one of the most desirable locations for “A” quality • Mix of One and Two Bedroom Units office space in the entire Metropolitan area. High-end shopping and dining can be enjoyed at the Biltmore Fashion • New Signage and Exterior Paint Park at the corner of 24th Street and Camelback Road, containing 535,430 square feet of open-air shop space and • Attractive Low Maintenance Landscaping many of renowned Fox Restaurants including True Food Kitchen, Zinburger, and Blanco Tacos + Tequila. Retailers within the Fashion Park include Saks Fifth Avenue, Macy’s, Ralph Lauren, Apple, and Pottery Barn. Furthermore, • Value Add Through Enhanced Interior The Camelback Colonnade Shopping Center and the Town & Country Shopping Centers have been redeveloped in Upgrades recent years and are just minutes from this community offering residents popular eateries such as Pizzeria Bianco, • Potential to Add In Unit Washer & Dryers Grassroots Kitchen & Tap, Hopdaddy Burger Bar, Snooze and popular shops such as Nordstrom Rack, Whole Foods, • Potential to Add Patios on Downstairs Units and Trader Joe' s. Other popular eateries in the neighborhood are The Gladly, The Parlor, Bink' s Midtown and Mejico Cocina Mejicana. Surrounding attractions in the immediate area include the historical Arizona Biltmore Resort and • 100% Occupied, Upside in Rents of $100- Golf Club and the Wrigley Mansion. $150 • 2 Blocks South of the Camelback Corridor Oberon Place is a two-story community constructed in 1981 of wood frame with a modern stucco exterior and is individually metered electricity. The community consists of 20 one bedroom/one bath floor plans and 4 two bedroom/ • $200 Rent Upside with Modern Unit one bath floor plans. The property has been upgraded in previous years with new paint, signage and the landscaping Upgrades was improved with desert rock, attractive low water plants on new drip systems, and artificial grass providing low maintenance for ownership. Unit interiors have been partially upgraded with ceramic tile flooring, hardware on the cabinets, resurfaced countertops, appliances, and faucets and fixtures as needed. These improvements have resulted in an increase in rents over $150 on average. Further upside in rents of $100-$150 could be achieved by implementing a second generation modern upgrades to the interiors. Investors in the neighborhood have benefited from the gentrifying neighborhood with renovating unit interiors with new modern finishes and providing stackable washer and dryers in the units and are achieving rents on 1 bedrooms units in the $800-$850 range and $900-$950 depending on unit upgrades and patio units. The units have space for the washer and dryers and the downstairs units have space from the building to the block wall on the north side to add patios which has been a popular value-add for investors and typically results in up to $100 in rental upside.

Oberon Place offers an investor the opportunity to purchase a 100% occupied 24 unit community that has great frontage on a major north south street and is located in the high demand East Phoenix submarket within 2 blocks of the Camelback Corridor.

7 PROPERTY DETAILS

SQUARE PROFORMA MARKET PROFORMA MARKET UNIT TYPE NO. OF UNITS Oberon Place Apartments FEET RENT/MONTH RENT/SQUARE FOOT

1822 N. 32nd Street STUDIO 1 500 $625 $1.30 ADDRESS: Phoenix, AZ 85008 1 BED / 1 BATH 10 600 $725 $1.21

COUNTY: Maricopa 1 BED / 1 BATH 9 600 $750 $1.25 2 BED / 1 BATH 2 825 $850 $1.03 YEAR BUILT: 1981 2 BED / 1 BATH 2 825 $875 $1.06

NUMBER OF UNITS: 24 TOTAL / AVG. 24 633 $727 $1.15

NUMBER OF 2 MECHANICAL SYSTEMS / METERING AMENITIES BUILDINGS: ELECTRICITY: Individually metered, resident paid COURTYARD STORIES: 2 WATER/SEWER: Owner paid COVERED PARKING

RENTABLE AREA: 15,200 TRASH DISPOSAL: Owner paid

CONSTRUCTION FEATURES AVERAGE UNIT SIZE: 633 • Wood Frame and Stucco LAND AREA: 0.70 acres • Flat & Pitched Roof

8 VALUATION SUMMARY

9 Financial Analysis Executive Summary Oberon Place EXECUTIVE SUMMARY Phoenix, Arizona

PROPERTY OVERVIEW Proforma

Number of Units 24 Per Unit Dollars Year Built 1981 Effective Gross Income $8,589 $206,130 List Price $2,350,000 Less: Operating Expenses 2,433 58,381 Price per Unit $97,917 Less: Capital Reserves 250 6,000 Price per Square Foot $154.61 Net Operating Income 5,906 141,750 Rentable Square Feet 15,200 Debt Service 102,971 Average Square Feet per Unit 633 Net Cash Flow (5.50%) $38,779 Average Rent per Unit $727 Average Rent per SF $1.15

Financial Return Financing Terms

Down Payment $705,000 Proforma Cap Rate 6.03% Proposed New Loan $1,645,000 Proforma Cash on Cash Return 5.50% Loan-to-Value 70% Interest Rate 4.75% Loan Term 5 Years Amortization 30 Years Disclaimer This information has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

10 UNIT MIX AND CURRENT MARKET RENTS Unit Mix and Current Market Rents Oberon Place Phoenix, Arizona

Proforma Proforma Proforma Monthly Annual Unit No. of % Unit Proforma Rent Rent Rent Total Description Units Type Sq. Ft. Rents /Sq. Ft. Total Total Sq. Ft.

Studio 1 4.2% 500 $625 $1.30 $625 $7,500 500

1 Bdrm / 1 Bath 10 41.7% 600 $725 $1.21 $7,250 $87,000 6,000

1 Bdrm / 1 Bath 9 37.5% 600 $750 $1.25 $6,750 $81,000 5,400

2 Bdrm / 1 Bath 2 8.3% 825 $850 $1.03 $1,700 $20,400 1,650

2 Bdrm / 1 Bath 2 8.3% 825 $875 $1.06 $1,750 $21,000 1,650

Total / Avg. 24 100.0% 633 $727 $1.15 $17,450 $209,400 15,200

Unit Mix

By Bedroom Type By Square Feet

1 Bed Eff 3% 2% 200 300 2% 3%

2 Bed 11 95% 800 95% Market Underwriting Analysis Oberon Place MARKETPhoenix, Arizona UNDERWRITING ANALYSIS

Proforma

INCOME Assumptions Gross Scheduled Rent $209,400 Gross Potential Income $209,400

Less: Vacancy (5.0%) (10,470) Total Rental Income 95.00% $198,930

Plus: Other Income 300 7,200 Effective Gross Income $206,130

EXPENSES per unit Repairs & Maintenance $500 $12,000 Payroll 200 4,800 Administrative/Advertising 100 2,400 Utilities 716 17,190 Total Variable Expenses $1,516 $36,390 Taxes 348 8,363 Insurance 153 3,681 Management Fee 5.00% 9,947 Total Operating Expenses $2,433 $58,381 Plus: Capital Reserves 250 6,000 Total Expenses $2,683 $64,381

NET OPERATING INCOME $141,750

Debt Service New Financing - $1,645,000 (70% LTV) Debt Service (4.75% P & I) $102,971 Cash Flow After Debt Service (5.50%) $38,779

12 COMPARABLE SALES

DOWNTOWN PHOENIX CENTRAL CORRIDOR

WEST AERIAL 13 COMPARABLE SALES

APARTMENT NAME CITY UNITS PRICE $/UNIT $/SQ. FT. YOC SALE DATE

S Oberon Place Phoenix 24 $2,350,000 $97,917 $154.61 1981 TBD

1 Rosebud Phoenix 10 $930,000 $93,000 $200.52 1954 4/24/2018

2 Hazelwood Phoenix 15 $1,536,888 $102,459 $154.69 1959 4/20/2018

3 Bakers Phoenix 14 $1,430,000 $102,143 $145.92 1950 4/17/2018

4 Pinchot Arms Phoenix 12 $1,100,000 $91,667 $117.02 1958 1/12/2018

5 Plaza Del Torre Phoenix 20 $1,700,000 $85,000 $104.35 1963 12/15/2017

6 Avanti Phoenix 30 $2,650,000 $88,333 $157.85 1981 11/16/2017

7 Yesenia's Phoenix 13 $1,200,000 $92,308 $164.00 1971 10/30/2017

8 The Beverly Phoenix 30 $2,675,000 $89,167 $123.61 1970 10/27/2017

9 Pasadena Palms Phoenix 14 $1,249,000 $89,214 $141.93 1982 7/21/2017

Averages 18 $1,607,876 $91,588 $138.33 1965

1 2 3 4

ROSEBUD HAZELWOOD BAKERS PINCHOT ARMS

5 6 7 8 9

PLAZA DEL TORRE AVANTI YESENIA'S THE BEVERLY PASADENA PALMS 210 S Roosevelt St - Revival On Roosevelt SOLD 1 Tempe, AZ 85281 210 S RooseveltSale St on -10/13/2016 Revival for On $3,000,000 Roosevelt ($180.93/SF; $150,000/Unit) - Research Complete 20 Unit, 16,581 SF Class C Apartments Building Built in 1988 SOLD Tempe, AZ 85281 1 Sale on 10/13/2016 for $3,000,000 ($180.93/SF; $150,000/Unit) - Research Complete PASADENA20 PALMSUnit, 16,581 SF Class C Apartments Building Built in 1988 210 S Roosevelt St - Revival On Roosevelt 1 SOLD Tempe, AZ 85281 1 Sale on 10/13/2016 for $3,000,000 ($180.93/SF; $150,000/Unit) - Research Complete 920 Unit, 16,581 SF Class C Apartments Building Built in 1988

1 2 ROSEBUD

Buyer & Seller Contact Info

Recorded Buyer: Roosevelt Park, LLC Recorded Seller: Revival Condominiums LLLP Buyer & Seller Contact Info True HAZELWOODBuyer: Patrick Boyd True Seller: Mentor Properties THE BEVERLY YESENIA'S Patrick Boyd Cal Desouza Recorded Buyer: Roosevelt Park, LLC Recorded Seller: Revival Condominiums LLLP 1440 W 12th Pl 15169 N Scottsdale RdPINCHOT ARMS True Buyer: Patrick Boyd Tempe, AZ 85281 True Seller: Mentor Properties Scottsdale, AZ 85254 Patrick Boyd (480) 747-4737 Cal Desouza (480) 710-1929 Buyer & Seller Contact Info 1440 BuyerW 12th Type: Pl Other - Private 15169Seller N Scottsdale Type: Developer/Owner-RGNLRd Tempe,Buyer AZ Broker: 85281 Jones Group Scottsdale,Listing Broker: AZ 85254Jones Group Recorded Buyer: Roosevelt(480) 747-4737 Park, LLC Recorded Seller: 5Revival(480) 710-1929 Condominiums LLLP 8 7 True Buyer: Jim Jones True Seller: Jim Jones Buyer Type: PatrickOther - BoydPrivate Seller Type: MentorDeveloper/Owner-RGNL Properties 3 (480) 607-7200 (480) 607-7200 4 6 Buyer Broker: PatrickJones GroupBoyd Listing Broker: CalJones Desouza Group 1440 W 12th Pl 15169 N Scottsdale Rd Jim Jones Jim Jones Tempe, AZ 85281 Transaction DetailsScottsdale, AZ 85254 ID: 3731027 (480)(480) 747-4737 607-7200 (480)(480) 710-1929607-7200 Buyer Type: Other -Sale Private Date: 10/13/2016 Seller Type: Developer/Owner-RGNLSale Type: Investment Transaction Details ID: 3731027 Buyer Broker: Escrow Length: - Listing Broker: Bldg Type: Apartments Jones Group Jones Group AVANTI Jim JonesSale Price: $3,000,000-Confirmed JimYear Jones Built/Age: Built in 1988 Age: 28 Sale Date: 10/13/2016 Sale Type: Investment (480)Asking 607-7200 Price: - (480) 607-7200RBA: 16,581 SF Escrow Length: - Bldg Type: Apartments Price/SF: Land Area: Address City $180.93Property Info Sale Info 0.61 AC (26,402 SF) 5 Sale Price: $3,000,000-Confirmed Year Built/Age: Built in 1988 Age: 28 BAKERS Price/SF Land Gross: $113.6316,581 SFTransaction Multi- Details ID: 3731027 1 210 S RooseveltAsking Price:St - Tempe Sold:RBA: $3,000,00016,581 ($150,000/Unit)SF Family/Apartments Price/SF: $180.93Percent Leased: - Land Area: 0.61 AC (26,402 SF) Sale Date: 10/13/2016 41,580 SF Multi- Sale Type: Investment 2 1133Price/SF W 5th Land St Gross: $113.63 Tempe Sold: $7,150,000 ($162,500/Unit) Escrow Length: - GRM/GIM: -/- Family/Apartments Bldg Type: PercentApartments Improved: 80.0% Total Value Assessed: Sale Price: $3,000,000-Confirmed- 13,300 SF Multi- Year Built/Age: Built in 1988 Age: 28$1,113,500 in 2015 3-1 407-411Percent W 7th Leased: St - Tempe Multi-Property Sale: $1,650,000 ($117,857/Unit) Asking Price: - Family/Apartments ImprovedRBA: 16,581 Value SFAssessed $890,900 GRM/GIM: -/- Percent Improved: 80.0% Price/SF: $180.93 13,300 SF Multi- Land Area:Land0.61 Value AC Assessed: (26,402 SF)$222,600 3-2 419 W 7th- St Tempe Total Value Assessed:Multi-Property$1,113,500 Sale: $1,650,000 in 2015 ($117,857/Unit) Price/SF Land Gross: $113.63 Family/Apartments Land Assessed/SF: $8.00 Improved Value Assessed $890,900 Spacer 4 1214 S Farmer Ave Tempe 4,029 SF Multi-Family/ApartmentsLand Value Assessed:Sold: $660,000$222,600 ($110,000/Unit) Percent Leased: - Financing: Down payment of $0.00 (0.0%) PLAZA DEL TORRE $600,000.0021,600 SFfrom Multi- Sunny BelLand Group Assessed/SF: LLC $8.00 5 1700 S CollegeGRM/GIM: Ave -/- Tempe Percent Improved:Sold: $2,850,00080.0% ($91,935/Unit) Family/Apartments Spacer - Parcel No: 124-31-026G, 124-31-026HTotal Value Assessed: $1,113,500 in 2015 Oberon Place Financing: Down payment of $0.00 (0.0%) Improved Value Assessed $890,900 15 $600,000.00Document fromNo: Sunny0752001 Bel Group LLC Sale History: Sold for $3,000,000 ($180.93/SF;Land Value $150,000/Unit) Assessed: on$222,600 10/13/2016 Parcel No: 124-31-026G, 124-31-026HSold for $1,950,000 ($117.60/SF;Land Assessed/SF:$97,500/Unit) on$8.00 8/28/2014 Non-Arms Length Document No: 0752001 Sold for $1,075,000 ($64.83/SF;Spacer $53,750/Unit) on 3/20/2013 SaleFinancing: History: DownSold forpayment $3,000,000 of $0.00Sold ($180.93/SF; (0.0%) for $0 ($0/Unit) $150,000/Unit) on 5/27/2009 on 10/13/2016 Non-Arms Length Copyrighted report licensed to ARA, A Newmark Company - 7983. 1/11/2017 $600,000.00Sold for $1,950,000 from SunnySold ($117.60/SF; Belfor $1,800,000Group $97,500/Unit) LLC ($108.56/SF; on 8/28/2014 $90,000/Unit) Non-Arms on 12/19/2006 Length Sold for $1,075,000Sold ($64.83/SF; for $1,450,000 $53,750/Unit) ($87.45/SF; on 3/20/2013 $72,500/Unit) on 10/1/2004 Parcel No: 124-31-026G,Sold for $0 ($0/Unit) 124-31-026HSold on 5/27/2009for $1,200,000 Non-Arms ($72.37/SF; Length $60,000/Unit) on 12/12/2000 Copyrighted report licensed to ARA, A Newmark Company - 7983. Document No: 0752001Sold for $1,800,000Sold ($108.56/SF; for $851,064 $90,000/Unit) ($51.33/SF; on $42,553/Unit) 12/19/2006 on 11/19/1998 1/11/2017 Page 1 Sale History: SoldSold for for $3,000,000 $1,450,000 ($180.93/SF; ($87.45/SF; $72,500/Unit)$150,000/Unit) on on 10/1/2004 10/13/2016 SoldSold for for $1,950,000 $1,200,000 ($117.60/SF; ($72.37/SF; $60,000/Unit)$97,500/Unit) onon 12/12/20008/28/2014 Non-Arms Length SoldSold for for $1,075,000 $851,064 ($51.33/SF; ($64.83/SF; $42,553/Unit) $53,750/Unit) on on 11/19/1998 3/20/2013 Page 1 Sold for $0 ($0/Unit) on 5/27/2009 Non-Arms Length Copyrighted report licensed to ARA, A Newmark Company - 7983. Sold for $1,800,000 ($108.56/SF; $90,000/Unit) on 12/19/2006 1/11/2017

Sold for $1,450,000Copyrighted ($87.45/SF; report licensed $72,500/Unit) to ARA, A Newmark on Company10/1/2004 - 7983. Sold for $1,200,000 ($72.37/SF; $60,000/Unit) on 12/12/2000 1/11/2017 Sold for $851,064 ($51.33/SF; $42,553/Unit) on 11/19/1998 Page 1 Page 17 OBERON PLACE APARTMENTS oberon place1822 N. 32ND STREET, PHOENIX 85008 825 e. missouri avenue S 85014

Property Information Sale Information Unit Type SF # of Units No. of Units: 24 Price: $ 2,350,000 Studio 500 1 Year Built: 1981 Price Per Unit: $ 97,917 1 Bedroom / 1 Bath 600 19 NRA: 15,200 Price Per SF: $ 154.61 2 Bedroom / 1 Bath 825 4 Sale Date: TBD Totals 24

ROSEBUD APARTMENTS 825 E. MISSOURI AVENUE, PHOENIX 85014 rosebud 825 e. missouri avenue 1 85014

Property Information Sale Information Unit Type SF # of Units No. of Units: 10 Price: $ 930,000 1 Bedroom / 1 Bath 463 10 Year Built: 1954 Price Per Unit: $ 93,000 Totals 10 NRA: 4,638 Price Per SF: $ 200.52 Sale Date: 4/24/2018

16 HAZELWOOD APARTMENTS Hazelwood a645part mW.en tHAZELWOOD,s PHOENIX 85012 645 w. hazelwood street 2 85013

Property Information Sale Information Unit Type SF # of Units No. of Units: 15 Price: $ 1,536,888 1 Bedroom / 1 Bath 625 13 Year Built: 1959 Price Per Unit: $ 102,459 2 Bedroom / 1 Bath 750 2 NRA: 9,935 Price Per SF: $ 154.69 Totals 15 Sale Date: 4/20/2018

BAKERS APARTMENTS 3008 N. 39TH STREET, PHOENIX 85018 bakers 3008 N. 39th street 3 85018

Property Information Sale Information Unit Type SF # of Units No. of Units: 14 Price: $ 1,430,000 1 Bedroom / 1 Bath 700 14 Year Built: 1950 Price Per Unit: $ 102,143 Totals 14 NRA: 9,800 Price Per SF: $ 145.92 Sale Date: 4/17/2018

17 PINCHOT ARMS APARTMENTS pinchot a2326rms E. PINCHOT AVENUE, PHOENIX 85016 2326 e. pinchot avenue 85016 4 Property Information Sale Information Unit Type SF # of Units No. of Units: 12 Price: $ 1,100,000 1 Bedroom / 1 Bath 650 4 Year Built: 1958 Price Per Unit: $ 91,667 2 Bedroom / 1 Bath 850 8 NRA: 9,400 Price Per SF: $ 117.02 Totals 12 Sale Date: 1/12/2018

PLAZA DEL TORRE APARTMENTS plaza d3634el torr eE. MONTE VISTA ROAD, PHOENIX 85008 3634 e. monte vista road 5 85008

Property Information Sale Information Unit Type SF # of Units No. of Units: 20 Price: $ 1,700,000 2 Bedroom / 1 Bath 815 20 Year Built: 1963 Price Per Unit: $ 85,000 Totals 20 NRA: 16,292 Price Per SF: $ 104.35 Sale Date: 12/15/2017

18 AVANTI APARTMENTS avanti 2939 N. 36TH STREET, PHOENIX 85018 2939 n. 36th street 6 85018

Property Information Sale Information Unit Type SF # of Units No. of Units: 30 Price: $ 2,650,000 1 Bedroom / 1 Bath 550 28 Year Built: 1981 Price Per Unit: $ 88,333 2 Bedroom / 1 Bath 700 2 NRA: 16,788 Price Per SF: $ 157.85 Totals 20 Sale Date: 11/16/2017

YESENIA'S APARTMENTS 3034 N. 37TH STREET, PHOENIX 85018 yesenia's 3034 n. 37th street 7 85018

Property Information Sale Information Unit Type SF # of Units No. of Units: 13 Price: $ 1,200,000 1 Bedroom / 1 Bath 600 6 Year Built: 1971 Price Per Unit: $ 92,308 2 Bedroom / 1 Bath 850 6 NRA: 7,317 Price Per SF: $ 164.00 3 Bedroom / 2 Bath 1,050 1 Sale Date: 10/30/2017 Totals 13

19 THE BEVERLY APARTMENTS the beverly3031 N. 36TH STREET, PHOENIX 85018 3031 n. 36th street 8 85018

Property Information Sale Information Unit Type SF # of Units No. of Units: 30 Price: $ 2,675,000 1 Bedroom / 1 Bath 530 8 Year Built: 1970 Price Per Unit: $ 89,167 1 Bedroom / 1 Bath 675 12 NRA: 21,640 Price Per SF: $ 123.61 2 Bedroom / 1 Bath 870 8 Sale Date: 10/27/2017 3 Bedroom / 2 Bath 1,170 2 Totals 30

PASADENA PALMS APARTMENTS 5022 N. 17TH AVENUE, PHOENIX 85018 pasadena palms 5022 n. 17th avenue 9 85018

Property Information Sale Information Unit Type SF # of Units No. of Units: 14 Price: $ 1,249,000 1 Bedroom / 1 Bath 572 8 Year Built: 1982 Price Per Unit: $ 89,214 2 Bedroom / 1 Bath 720 6 NRA: 8,800 Price Per SF: $ 141.93 Totals 14 Sale Date: 7/21/2017

20 PROPERTY OVERVIEW

PAPAGO PARK TEMPE

EAST AERIAL 21

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D A S IN . HONDA BOW RD. D 42600 N G R P NC IN S A H R R T R D P T S . E A G N L

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18E 19 20 S 21 A 22 23 24 25 26 27 28 29 30 C FL B

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7TH ST. D BLACK CANYON FWY. LEGE N DOVE VALLEY RD. 187THAVE. DOVE VALLEY RD.

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LAKE PLEASANT 136TH ST. 136TH

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168TH ST. 168TH 118TH ST. 118TH

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MUNICIPAL HWY. .

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PKWY.

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MILL MILL AVE.

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25100W

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SOUTH PRICE

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QUEEN ARIZONA A

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10 FWY.

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Maricopa RD. GANTZEL 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 HUNT22 HWY. 23 24 25 26 27 28 29 30 118 OFFICIAL VISITORS GUIDE (877) CALL-PHX VISITPHOENIX.COM OFFICIAL VISITORS GUIDE 119 DOWNTOWN PHOENIX

Just minutes away is the heart of Phoenix with museums, major league sports, and an active performing arts scene.

CULTURE • HEARD MUSEUM - The overall mission of the Heard Museum is to educate the public about the heritage and the living cultures and arts of Native peoples, with emphasis on the peoples of the Southwest. The Heard museum is not a history museum, it is a living museum featuring both artifacts and contemporary art of Native cultures. The main Phoenix location of the Heard Museum has been designated as a Phoenix Point of Pride. • PHOENIX ART MUSEUM - The largest art museum for visual art in the Southwest, this 285,000 sf museum displays international exhibitions alongside its comprehensive collection of more than 18,000 works of American, Asian, European, Latin American, Western American, modern and contemporary art, and fashion design. • CHILDRENS MUSEUM - The Children's Museum of Phoenix is a place where children play to learn and grown-ups learn to play. The many developmental stages of a child- social, cognitive, physical, and emotional - have all been considered in the design of the exhibits and programs. • ARIZONA SCIENCE CENTER - Located in the heart of Downtown Phoenix, the center is home to over 350 permanent hands-on exhibits and has featured a number of nationally traveling exhibitions all focusing on inspiring, educating, and entertaining people about science.

ASU - DOWNTOWN The ASU Downtown campus joins student life with an urban lifestyle in the heart of Phoenix. Fulfilling a compelling vision for a transformational student experience for the more than 11,500 students enrolled, the campus integrates research, classroom learning and real-world problem-solving in high-tech facilities that make the most of the location and the city’s vibrant neighborhoods and culture. Arizona State University's Downtown Phoenix campus is home to the Walter Cronkite School of Journalism and Mass Communication, the College of Health Solutions, the College of Nursing and Health Innovation, the College of Public Programs and the School of Letters and Sciences. The Sandra Day O’Connor College of Law recently opened in a six-story, $120 million building.

PARKS Nearby is the Margaret T. Hance Park, a 32 acre "deck" park over the I-10 freeway that is home to the Japanese Friendship garden, Irish Cultural Center, McClelland Irish Library, Phoenix Center for the Arts, and Burton Barr Central Library. The slated $118 million dollar renovation includes general renovation and redevelopment plans to add an amphitheater, skate park and splash pad. Encanto Park, named by Forbes Magazine as one of the Top 12 America's Best City Parks, is a 222-acre oasis with picnic areas, lagoon, boat house, swimming pool, urban fishing, and two golf courses. Within the park is the Enchanted Island Amusement Park featuring arcade games, food, and rides for every age. CAMELBACK CORRIDOR

Located nearby lies the desirable Biltmore/Camelback Corridor. Its to the modern urban dweller who enjoys a quiet relaxed atmosphere at home with convenient proximity by bus, bike, foot or car to a variety of activity centers bustling with activity. The Camelback Corridor is one of the city’s mose acclaimed neighborhoods, known as the financial district, it is surrounded by upscale shopping and dining.

Biltmore Fashion Park • This lush garden-style upscale shopping venue is home to the trendy and delicious. Saks Fifth Avenue and Macys share space with names like Pottery Barn and Elizabeth Arden while restaurants like Capital Grille and TruFoods tempt every appetite. Across the street movie-goers will love the new AMC Dine- in Esplanade 14 Theaters.

Arizona Biltmore • You can’t talk about the Camelback Corridor without mentioning the Biltmore, dubbed the “Jewel of the Desert” and renowned for its architectural imprint by Frank Lloyd Wright-inspired architecture. This elite getaway features 39 acres blanketed with lush gardens, two premier golf courses and views of Camelback Mountain and Piestewa Peak. Dotted with glistening swimming pools, first class dining, and incredible views, the resort has attracted locals as well as celebrities and U.S. presidents since it opened in 1929. •LIGHT The 20-mile starter line, the longest starter line in federalRAIL New Starts grant history, opened in 2008. • Over 14 million riders use this transportation, making it the 12th busiest light rail in the country. • Recent expansion has included going eastward through the Downtown Mesa area and will continue on to Gilbert road and a northern expansion up to Dunlap Avenue. • The light rail provides rapid access to Downtown Tempe, Sky Harbor International Airport, Downtown Phoenix, and the Central Corridor.

Oberon Place

LEGEND LIGHT RAIL STATION

PARK-N-RIDE LOCATION

LIGHT RAIL MAJOR EMPLOYERS FORTUNE 500'S METRO PHOENIX EMPLOYMENT 1. Banner Health 1. Freeport-McMoRan 2. State of Arizona 2. Avnet 3. Walmart PROFESSIONAL & 4. County of Maricopa 3. Republic Services 13.2% BUSINESS SERVICES 5. Frys Food Stores 4. Insight Enterprises 6. Wells Fargo 7. Arizona State University 11.4% RETAIL 8. Intel Corporation 9. City of Phoenix HEALTHCARE PHOENIX10. Honeywell 10.2% PHOENIX IS...... 9.6% CONSUMER SERVICES TH A MEDIAN AGE OF 4 FINANCE, INSURANCE HIGHEST TOP 5 NATIONALLY FOR TECH 11.0% & REAL ESTATE CONCENTRATION 35.4 THE SIXTH YOUNGEST JOB GROWTH OF AEROSPACE METRO IN THE U.S. MANUFACTURING JOBS 6.9% EDUCATION TH GOVERNMENT EXPECTED TO GROW 6 MEDIAN HOUSEHOLD 5.9% INCOME OF LARGEST 43,000 CONSTRUCTION HEALTHCARE JOBS IN CONCENTRATION $53,310 5.5% THE NEXT DECADE OF DATA CENTERS NATIONALLY 3.8% TRANSPORTATION & DISTRIBUTION ND 3.4% HIGH TECH MANUFACTURING & #5 3RD 2 DEVELOPMENT IN THE NATION FOR LARGEST LABOR POOL LARGEST MILITARY HOSPITALITY, TOURISM & RECREATION INSTALLATION IN THE 3.4% BEST-QUALIFIED IN THE WEST WORLD GRADUATES

26 PHOENIX SKY HARBOR AIRPORT

#1 43,090 Employees at the Airport Best Airport in the U.S. $9.5 BILLION ANNUALLY USA Today 2016 Daily Activity Includes: +1,200 Aircraft +120,000 Passengers +800 Tons of Air Cargo Sky Harbor Airport has a Daily Economic Impact of Largest Commercial Airport in the American Southwest, 43 Million $79 MILLION Passengers in 2016, and Easy Access To and From Airport TH with Phoenix Sky Train and 34 BUSIEST IN THE Access to Light Rail Directly WORLD at Airport

27 THE CITY OF PHOENIX’S NOTABLE RANKINGS

#1 STATE FOR FUTURE JOB GROWTH

METRO PHOENIX RANKED TOP 20 EIGHTH BEST CITY 10 FASTEST TOP 5 BEST PLACES FOR GROWING CITIES FOR SMALL BEST CITY FOR FOR RECENT COLLEGE BUSINESSES WORKING PARENTS TECH STARTUPS GRADUATES SEEKING A JOB

ARIZONA STATE UNIVERSITY #1 IN SWIPING FINANCIAL PHOENIX TOP 10 14TH

#1 IN U.S. SAFEST CITY #1 AIRPORT JOBS FROM WALL STREET FISCALLY FIT IN THE U.S. - SKY HARBOR FOR INNOVATION CITIES IN THE US IN AMERICA

28 ARA PHOENIX RYAN ASH MIKE WOODRICK 2398 E. Camelback Road Senior Managing Director Director Suite 950 T 602-852-3784 T 602-852-3789 Phoenix, AZ 85016 C 602-525-4877 C 480-540-1504 T 602-252-4232 [email protected] [email protected] www.aranewmark.com RELATIONSHIPS © ARA. All Rights Reserved THAT DELIVER RESULTS.