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Maple Place Apartments Investment 1352 - 1360 North Ave & 1414 Euclid Opportunity Presented by Atlanta, Ga 30307

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Maple Place Apartments Investment 1352 - 1360 North Ave & 1414 Euclid Opportunity Presented by Atlanta, Ga 30307 OFFERING MEMORANDUIM A MULTIFAMILY MAPLE PLACE APARTMENTS INVESTMENT 1352 - 1360 NORTH AVE & 1414 EUCLID OPPORTUNITY PRESENTED BY ATLANTA, GA 30307 FranklinSt.com MAPLE PLACE APARTMENTS | ATLANTA GA CONFIDENTIALITY AGREEMENT EXCLUSIVELY LISTED BY: This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest into the acquisition of the Subject Property. Jake Reid Senior Director This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of state of affairs of the Owner or the 404.832.1250 ext. 404 [email protected] Property, to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market Ricky Jones conditions, competition, and other factors beyond the control of the Owner or Franklin Street Real Estate Services, LLC. Therefore, all projections, assumptions, Director and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements 404.832.1250 ext. 420 are approximations. Additional information and an opportunity to inspect the Property will be made available to all interested and qualified prospective [email protected] purchasers. Neither the Owner or Franklin Street Real Estate Services, LLC. , nor any of their respective directors, officers, affiliates or representatives are making any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your own investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered, and approved by the Owner and any obligations therein have been satisfied or waived. By receipt of the Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or the Franklin Street Real Estate Services, LLC. Furthermore, you agree not to use this Memorandum or any of its contents in a manner detrimental to the interest of the Owner or Franklin Street Real Estate Services, LLC. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are so advised and expected to review all such summaries and other documents of whatever nature independently and not to rely on the contents of this Memorandum in any manner. 3384 Peachtree Rd NE, Suite 650 ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR FRANKLIN STREET REAL ESTATE SERVICES, LLC AGENT FOR MORE DETAILS. Atlanta, GA 30326 FranklinSt.com 2 TABLE OF CONTENTS INVESTMENT OVERVIEW.................. 4 FINANCIAL ANALYSIS....................... 17 SALE COMPARABLES........................ 20 RENT COMPARABLES....................... 26 AREA OVERVIEW.............................. 42 DEMOGRAPHICS.............................. 53 ABOUT FRANKLIN STREET................ 56 FranklinSt.com Maple Place Investment Overview Apartments FranklinSt.com EXECUTIVE SUMMARY MAPLE PLACE APARTMENTS | ATLANTA GA Maple Place Apartments is 33 unit value add multifamily opportunity in the heart Atlanta’s desirable Candler Park neighborhood. Maple Place is made up of 3 separate buildings on 1.25 acres directly across the street from Freedom Park. Maple place is an extremely unique opportunity because it’s located on the Freedom Park trail, which connects to the Atlanta Beltline, and is one of a very few apartment communities in the Candler Park neighborhood. The 33 units are comprised of spacious 1 and 2 bedroom units with updated plumbing, electrical, and off-street parking. Other amenities located within close proximity to the property are Candler Park Golf Course, Fernbank Museum, Druid Hills Golf Club, Virginia Highlands, Inman Park, Old Fourth Ward, Ponce City Market, Decatur, Little 5 Points, and Krog Street Market. Given the limited inventory in the immediate area, walkability, and strong demographics, Maple Place is able to command very desirable rents with further upside through a value add strategy. FranklinSt.comFranklinSt.com 5 SALIENT FACTS Zoning RM100 # of Units 33 Investment Details Average Rent/Unit $1,106 Rent/SF $1.78 Address 1352-1360 North Ave NE & 1414 Euclid City & Zip Atlanta, 30307 Location & Parcel Details County Dekalb State Georgia Parcel/Folio 15-24001024, 15-24001025, 15-24001026 No. of Residential Units 24-1 Bedroom 1 Bath, 9 - 2 Bedroom 1 Bath No. of Buildings 3 No. of Stories 2 Site Details Rentable Sq Ft 20,545 Year Built 1957 Lot Size 1.25 +/- Acres FranklinSt.com6 MAPLE PLACE APARTMENTS | ATLANTA GA PARCEL MAP FranklinSt.com 7 MAPLE PLACE APARTMENTS | ATLANTA GA NEIGHBORHOOD MAP Maple Place Apartments FranklinSt.com 8 MAPLE PLACE APARTMENTS | ATLANTA GA AREA MAP Maple Place Apartments FranklinSt.com 9 Virginia RETAIL MAP Highland MAPLE PLACE APARTMENTS | ATLANTA GA Druid Hills St Charles Ave NE B r i a r c E f i l Ave N e Leon D R e Ponc E N d NE NE Ponce De Leon Ave NE Ave n Ave n Leo S Ponce De Leo De Ponce d NE THE Fairv R LOCAL iew JAVA JIVE North Ave NE North Ave NE North Ave NE M O a o k r d e NE l Poncey-Highlands a a R e l e n v A d Maple Place A E N d d v n E N e Apartments a l h g i Old Fourth H Ward Park m Pkw h o y t d N Pl ee E r Benning r o F E N N Freedom Ave clid Park Eu O E a k N d E d a v M R e l l N o B t E N t race NE S l r l e er i r E N d S g l G e a c l n d n i M l lid T d h n r e a lp t A Little uc a C S R E v E N e E N McLendon Ave NE y Five Points kw P NE NE om ve ay eed Willoughby W Fr d A an hl ig E H N th ve E Ave NE or A Parks and Rec N lid Retail and Resturants uc E Schools Atlanta Beltline Inman Park Freedom Pkwy Walking Trail FranklinSt.com Highland Ave NE ve NE 10 Dekalb A 1352 N Ave MAPLE PLACE APARTMENTS | ATLANTA GA FranklinSt.com 11 MAPLE PLACE APARTMENTS | ATLANTA GA FranklinSt.com 12 1414 Euclid MAPLE PLACE APARTMENTS | ATLANTA GA FranklinSt.com 13 MAPLE PLACE APARTMENTS | ATLANTA GA FranklinSt.com 14 1360 N Ave MAPLE PLACE APARTMENTS | ATLANTA GA FranklinSt.com 15 MAPLE PLACE APARTMENTS | ATLANTA GA FranklinSt.com 16 Maple Place Financial Analysis Apartments FranklinSt.com MAPLE PLACE APARTMENTS | ATLANTA GA UNIT MIX Units Unit Type Sq Feet Current Rent/Sq Foot Proforma Rent/Sq Foot Rent Increase 14 1 Bed 1 Bath - 1414 Euclid 475 $950 $2.00 $1,000 $2.11 5.26% 4 2 Bed 1 Bath - 1360 N Ave 850 $1,450 $1.71 $1,525 $1.79 5.17% 4 1 Bed 1 Bath - 1360 N Ave 700 $1,100 $1.57 $1,175 $1.68 6.82% 5 2 Bed 1 Bath - 1352 N Ave 850 $1,450 $1.71 $1,525 $1.79 5.17% 6 1 Bed 1 Bath - 1352 N Ave 700 $1,100 $1.57 $1,175 $1.68 6.82% GRAND TOTAL 33 21,300 $37,350 $1.75 $39,475 $1.85 5.69% Current Proforma 1 Bed 1 Bath - 1352 N Ave Monthly Gross Monthly Gross 18% Potential Rent Potential Rent 1 Bed 1 Bath - 141 Euclid 2 Bed 1 Bath - 1352 N Ave 42% $37,350 $39,475 15% 1 Bed 1 Bath - 1360 N Ave Current Proforma 12% 2 Bed 1 Bath - 1360 N Ave Annual Gross Annual Gross 12% Potential Rent Potential Rent $448,200 $473,700 FranklinSt.com 18 MAPLE PLACE APARTMENTS | ATLANTA GA INCOME & EXPENSES Current Year 1 Proforma % Per Unit Total % Per Unit Total % Per Unit Total INCOME Gross Potential Rent (GPR) $13,582 $448,200 $13,582 $448,200 $14,355 $473,700 Laundry Income 1.47% $200 $6,600 1.47% $200 $6,600 1.39% $200 $6,600 Other Income 0.54% $73 $2,400 0.54% $73 $2,400 0.51% $73 $2,400 Utility Reimbursement 0.00% $0 $0 3.01% $409 $13,500 2.85% $409 $13,500 Total Other Income 2.01% $273 $9,000 5.02% $682 $22,500 4.75% $682 $22,500 Gross Potential Income (GPI) $13,855 $457,200 $14,264 $470,700 $15,036 $496,200 ECONOMIC LOSS Vacancy 1.03% $140 $4,625 3.00% $407 $13,446 3.00% $431 $14,211 Loss to Lease 4.35% $591 $19,500 0.00% $0 $0 0.00% $0 $0 Total Economic Loss 5.38% $731 $24,125 3.00% $407 $13,446 3.00% $431 $14,211 Effective Gross Income (EGI) $13,123 $433,075 $13,856 $457,254 $14,606 $481,989 EXPENSES Taxes 5.75% $755 $24,917 5.45% $755 $24,917 14.11% $2,061 $68,000 Insurance 2.26% $297 $9,805 2.14% $297 $9,805 1.94% $283 $9,350 Utilities 4.26% $558 $18,429 4.03% $558 $18,429 3.82% $558 $18,429 Contract Services 1.68% $220 $7,260 1.59% $220 $7,260 1.37% $200 $6,600 Repairs & Maintenance 3.05% $400 $13,200 3.07% $425 $14,025 2.91% $425 $14,025 Management 0.00% $0 $0 6.00% $831 $27,435 6.00% $876 $28,919 Marketing & Leasing 1.52% $200 $6,600 1.80% $250 $8,250 1.71% $250 $8,250 Reserves & Replacements 0.00% $0 $0 1.44% $200 $6,600 1.37% $200 $6,600 Total Expenses 18.52% $2,431 $80,211 25.53% $3,537 $116,721 33.23% $4,854 $160,173 Net Operating Income 78.73% $10,693 $352,864 75.98% $10,319 $340,533 71.80% $9,752 $321,816 FranklinSt.com 19 Maple Place Sales Comparables Apartments FranklinSt.com MAPLE PLACE APARTMENTS | ATLANTA GA SALES COMPARABLES Comparable Properties 1.
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